1. Strategic Management
The process of ensuring a competitively superior fit between an organization and its changing environment.
Management of the “Big Picture”
Strategic Planning
Implementation
+ Control
= Strategic Management

2. Strategic Management Process
Formulation of Grand Strategy 
Formulation of Strategic Plans
Implementation of Strategic Plans
Strategic Control

3. “Diversity Boosts Allstate’s Bottom Line”
Companies that had a head start in elevating diversity to a strategic priority are starting to get results from better customer satisfaction to increased sales.
1993 diversity became a strategic intiative
The focus is on accepting differences
In order to take the work force of differences and bring them together you need to incorporate differences into all business processes
Learning from customers is the best way to develop products and services which serve their specific needs

4. Forecasting
Definition: Predictions, projections or estimates of future situations
1. Event Outcome
2. Event Timing
3. Time Series

5. “Burger King Seeks New Sizzle”
Synergy
Market Synergy: when one product or service fortifies the sales of one or more other products or services
Porter’s Generic Competitive Strategies
Differentiation Strategy: product or service must be considered unique by most of the customers in its industry

6. Strategic Management Process
Formulation of a Grand Strategy
BK wanted to increase profits, be more modern, update children’s facilities and kitchen
Formulation of Strategic Plans
$15,000 more per building; Increase in sales estimated at over $400,000 annually; Estimate of 2 or 3 years to convert all BK’s

7. Strategic Management Process (cont.)
Implementation of Strategic Plans
Don White
Strategic Control
Customer Opinions

8. Thinking Strategically
Business Ecosystems
Definition: An economic community of organizations and all their stakeholders, including suppliers and customers
Important Contribution to Modern Strategic Thinking
Organizations need to be as good at cooperating as they are at competing if they are to succeed. (Ex. Microsoft and Intel)
Needed: More Strategic Cooperation

9. SWOT Analysis
A situational analysis is a technique for matching organizational strengths and weaknesses with environmental opportunities and threats to determine the organizations right niche.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats

10. E-Commerce Strategies

11. Forecasting Event Outcome Forecasts Event Timing Forecasts
Time Series Forecasts

12. Forecasting Techniques
Scenario Analysis
Longitudinal Scenarios
Cross-sectional Scenarios