Ch 1: Strategic Planning & Management in Business

About This Chapter

Managers who have a solid knowledge of the processes for strategic management and planning can operate more effectively. Video lessons in this chapter are used to demonstrate key steps in strategy selection and implementation.

Strategic Planning & Management in Business - Chapter Summary

This chapter clarifies how the strategic planning process works and what the intended purpose of each planning component is. Your employees will become familiar with:

  • The four steps of the strategic management process
  • Common business strategies
  • Steps for strategic planning

Your employees can watch each corporate training video on strategic planning and management in about 5 minutes. Knowledge gained by managers from this chapter can be quickly assessed with the lessons' practice quizzes.

How It Helps

  • Promotes organization: Managers become well-aware of the specific order of operations involved in strategic management and planning which can help them in management decision-making situations.
  • Increases awareness: Those in management roles will understand that strategies being put in place require consistent monitoring so that any needed changes can be made.
  • Boosts competitiveness: This chapter arms managers with planning and management skills that will fare well against competitors.

Skills Covered

Upon completion of this chapter, managers will be able to:

  • Comprehend the steps in the strategic management process
  • Effectively explain different business strategies used to win customers or generate profit
  • Identify numerous factors that should be considered during the planning process

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Strategic Management in Business course