Discussion – Strategic Management
Business Finance
As we learned this week, the strategic management process has five steps: 1) Establish the mission and the vision; 2) Assess the current reality; 3) Formulate the grand strategy; 4) Implement the strategy; and 5) Maintain strategic control.
Below is a 6-minute video where Professor Donald Sull discusses recommendations for translating strategy into results.
Harvard Business Review video Why So Few Managers Understand Their Company’s Strategy. (Links to an external site.)
Discuss
After watching the video, choose one of the questions below to answer:
- Describe how you, or someone you know, used some of the recommendations in the video to implement either new ideas or strategies at work. What are the lessons learned?
- Identify a current or previous supervisor, or someone you know, that used any of the recommendations in the video and discuss how effective the recommendations were. What are the lessons learned?
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