MT1 – Some areas of Strategic Management to be considered are: The Strategic Leader’s Perspective; Why study Strategy?; What is Strategy?; The Strategic Management Process; Business Strategy versus Corporate Strategy.
As we’ll learn this week, it seems everyone has a different definition of strategy. Michael Porter’s HBR article, What is Strategy? is considered the seminal “strategy” reading and the following short video of him will help frame our discussion. Here Porter (the best known present day business strategy guru), argues that rivals can easily copy your operational effectiveness, but they can’t copy your strategic positioning – what distinguishes you from all the rest. This should become quite evident as you “drive” your auto company through the competitive and sometimes turbulent environment in which it operates:
https://www.youtube.com/watch?v=NY4myVa5Wkw (sorry for the Asian language subtitles)
To get an expanded feel for the topic the following articles are also useful: