TAILIEUCHUNG - The Strategic Management Process

The importance of strategy and why it matters to organizations The key roles of vision, mission, and goals in shaping an organization’s future The four stages of the strategic management process The concept of a SWOT analysis The concepts of corporate and business strategies The central role of ethics in strategy The different stakeholders of an organization | strategie management The Strategic Management Process CHAPTER OUTLINE CASE The Restaurant Industry Introduction The Strategy Concept The Basis of Strategy Charting a Direction Determining and Setting Strategic Goals The Strategic Management Process Business and Corporate Strategies Strategic Imperatives Responsibility for Strategic Management Characteristics of Strategic Decisions Who Are Strategic Managers What Decision Criteria Are Used Key Stakeholders Difficulties in Accommodating Stakeholders Why Study Candidate Seeking Employment Employee or Manager Summary WHAT YOU WILL LEARN The importance of strategy and why it matters to organizations The key roles of vision mission and goals in shaping an organization s future The four stages of the strategic management process The concept of a SWOT analysis The concepts of corporate and business strategies The central role of ethics in strategy The different stakeholders of an organization 3 4 PART 1 Building Competitive Advantage Case The Restaurant Industry1 Ever since Ray Kroc purchased the rights to use the McDonald brothers idea of serving fast-cooked low-cost hamburgers french fries and chocolate shakes to customers in 1955 the restaurant industry has never been the same. Since that time the McDonald s restaurant chain has grown to become a billion business 1997 revenues . Its famous golden arches are a familiar sight across the United States and increasingly much of the world. More broadly speaking the fast-food restaurant has become a high-growth industry in its own right. Companies such as McDonald s Burger King Wendy s KFC Kentucky Fried Chicken Taco Bell and Domino s Pizza are well-known American and global brand names. All of these restaurant firms typically target customers willing to pay for a low-cost meal with a minimum of service and maximum convenience. The Fast-Food Restaurant Environment Despite its continued high growth competition in the fastfood restaurant industry is increasingly fierce .

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