Strategy

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Strategy by Mind Map: Strategy

1. Stategy can bring success when used properly

1.1. Lady Gaga has paved her way into the music industry by maintaining a loyal fanbase via Twitter, Facebook and YouTube

1.1.1. These women have a clear understanding of the changes you need to make in order to be succesful

1.2. Queen Elizabeth has had a popular support of the British throughout her 60-year reign

2. There are four elements that result in a succesfull environment

2.1. Consistent goals

2.2. Profound understanding of competitive environment

2.3. Objective appraisal of resources

2.4. Effective implementation

3. The more we know about the environment in which an enterprise competes, it is easier to implement a strategy

3.1. Where is it competing?

3.2. How is it competing?

3.3. Which direction will it take?

4. *Corporate strategy: focuses on the markets in which a firm competes.       *Business strategy: focuses on the competition within a particular market

5. Mission, vision, values and strategy statements give an insight of a firm's purpose, what it seeks to become and performance goals respectively.

6. Strategic management works both for business organizations as well as non-profit organizations, but only for those in a competitive environment.

6.1. Non-Profit organizations that charge users

6.2. Non-Profit organizations that provide free service

7. *Emergent strategy gives a more flexible response and is mainly focused on the decisions that come out of a process

8. Types of strategy

8.1. Emergent strategy gives a more flexible response and is mainly focused on the decisions that come out of a process

8.2. Intended strategy is the one that is generated by the top management by negotiating. Generally not as flexible.