Strategic Management
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Strategic Management
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of Resource management, resources and an assessment of the internal and external Market environment, environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's goal, objectives, developing policy, policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback, feedback loop to monitor execution and to inform the next round of planning. Michael Porter identif ...
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Management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. "Run the business" and "Change the business" are two concepts that are used in management to differentiate between the continued delivery of goods or services and adapting of goods or services to meet the changing needs of customers - see trend. The term "management" may also refer to those people who manage an organization—managers. Some people study management at colleges or universities; major degrees in management includes the Bachelor of Commerce (B.Com.), Bachelor of Business Adminis ...
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Strategic Management Framework
Strategy (from Greek στρατηγία ''stratēgia'', "art of troop leader; office of general, command, generalship") is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including military tactics, siegecraft, logistics etc., the term came into use in the 6th century C.E. in Eastern Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills" in a military conflict, in which both adversaries interact. Strategy is important because the resources available to achieve goals are usually limited. Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to execu ...
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Henry Mintzberg
Henry Mintzberg (born September 2, 1939) is a Canadian academic and author on business and management. He is currently the Cleghorn Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada, where he has been teaching since 1968. Early life Mintzberg was born in Montreal, Quebec, Canada, the son of Jewish parents Myer (a manufacturer) and Irene (Wexler) Mintzberg. He completed his undergraduate degree in mechanical engineering at the Faculty of Engineering of McGill University. He completed his Master's degree in Management and PhD from the MIT Sloan School of Management in 1965 and 1968, respectively. Career In 1997, Professor Mintzberg was made an Officer of the Order of Canada. In 1998 he was made an Officer of the National Order of Quebec. He is now a member of the Strategic Management Society. In 2004, he published a book entitled ''Managers Not MBAs'' which outlines what he believes to be wrong with management ...
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Boston Consulting Group
Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the Big Three (or MBB, the world’s three largest management consulting firms by revenue) along with Bain & Company and McKinsey & Company. Since 2021, the consultancy has been led by the German executive Christoph Schweizer. History The firm was founded in 1963 part of The Boston Safe Deposit and Trust Company. Henderson had been recruited from Arthur D. Little to establish the consulting arm operating as a subsidiary under the name Management and Consulting Division of the Boston Safe Deposit and Trust Company. Initially the division only advised clients of the bank, with billings for the first month at just US$500. Henderson hired his second consultant, Arthur P. Contas, in December 1963. In 1966, BCG opened its second office in Tokyo, Japan. In 1967, Henderson met Bill Bain and offered him a role at the firm. Bai ...
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Bruce Henderson
Bruce Doolin Henderson (April 30, 1915 – July 20, 1992) was an American businessman and management expert. He founded Boston Consulting Group (BCG) in 1963 in Boston, Massachusetts and headed the firm as the president and CEO until 1980. He continued to serve as chairman of BCG until 1985. Early life Henderson was born on a farm in Nashville, Tennessee on 30 April 1915. In the fourth grade, he enrolled in the Peabody Demonstration School (PDS) and remained there until his high school graduation in 1932. During high school, Henderson played on the football team. Personal life Henderson married twice. With his first wife, Frances, he fathered four children. He had two daughters—Asta Werme and Ceacy Griffin—and two sons—Bruce Alexander Henderson and Bruce Balfour Henderson. His second wife was Bess, with whom he had no children. Henderson had seven grandchildren at the time of his death. Career Henderson began his career as a salesman in the Southwestern Advantage e ...
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Marketing Management
Marketing management is the Organizational studies, organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities. Structure Marketing management employs tools from economics and competitive strategy to analyze the industry context in which the firm operates. These include Porter 5 forces analysis, Porter's five forces, analysis of strategic groups of competitors, value chain analysis and others. In competitor analysis, marketers build detailed profiles of each competitor in the market, focusing on their relative competitive strengths and weaknesses using SWOT analysis. Marketing managers will examine each competitor's cost structure, sources of profits, resources and competencies, competitive Positioning (marketing), positioning and product differentiation, degree of vertical integration, historical responses to ind ...
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Shareholder Value
Shareholder value is a business term, sometimes phrased as shareholder value maximization. It became prominent during the 1980s and 1990s along with the management principle value-based management or "managing for value". Definition The term "shareholder value", sometimes abbreviated to "SV", can be used to refer to: *The market capitalization of a company; *The concept that the primary goal for a company is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the stock price to increase (i.e. the Friedman doctrine introduced in 1970); *The more specific concept that planned actions by management and the returns to shareholders should outperform certain bench-marks such as the cost of capital concept. In essence, the idea that shareholders' money should be used to earn a higher return than they could earn themselves by investing in other assets having the same amount of risk. The term in this sense was introduced by Alfred Rappaport in 1986. For ...
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