The main subject this wee was "STRATEGIC MANAGEMENT". We reviewed different business strategies such as the Porter's Generic Competitive Strategies which includes Cost leadership, differentiation, cost focus, and focused strategy; to see an example of mangement strategizing we analised REI an how they decided to take action to be ahead of the competition. The changed their business strategy from product based to market based.
We also reviewed some business strategies for the internet, the strategic management process which includes formulation of grand strategy, formulation of strategic plans, inplementation od strategic plans and strategic control.
Lastly we discussed Forecasting which includes event outcomes, event timing, and time series forecasting, which helps strategic planners anticipate and prepare for future environmental circumstances. Popular forecasting techiniques among today's managers include informed judment, scenarion analysis, surveys, and trend analysis. However, each technique has it's own limitations, so forecasts need to be cross-checked against one another.
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