How is "strategic management" defined in the text,
and what are its four key attributes?
Briefly discuss the three key activities in the strategic
management process. Why is it important for managers
to recognize the interdependent nature of these
activities?
Explain the concept of "stakeholder management."
Why shouldn't managers be solely interested in stockholder
management, that is, maximizing the returns
for owners of the firm—its shareholders?
What is "corporate governance"? What are its three
key elements and how can it be improved?
How can "symbiosis" (interdependence, mutual benefit)
be achieved among a firm's stakeholders?
Why do firms need to have a greater strategic management
perspective and empowerment in the strategic
management process throughout the organization?
What is meant by a "hierarchy of goals"? What are the
main components of it, and why must consistency be
achieved among them?
