Core concepts
- 01Strategy: long-term direction & scope to achieve advantage through resource configuration.
- 02Levels: Corporate, Business, Functional.
- 03Vision, Mission, Goals, Objectives — hierarchy.
- 04Strategic Management Process: Environmental Scanning → Formulation → Implementation → Evaluation.
- 05Competitive advantage from cost leadership, differentiation, or focus (Porter).
Flowchart summary
Strategy Hierarchy Corporate | Business Unit (SBU) | Functional (Marketing, Finance, Ops, HR) Process: Scan -> Formulate -> Implement -> Evaluate
Exam-critical pointers
- ⭐Distinguish strategy (Ans 'How') from objectives ('What').
- ⭐BCG matrix: Stars, Cash Cows, Question Marks, Dogs — relative market share vs growth.
- ⭐Ansoff Matrix: Market Penetration, Product Development, Market Development, Diversification.
- ⭐Strategic Intent — Vision + Mission + Business Definition + Objectives + Goals.
Make it click