《旅游管理专业英语》（第二版） 讲义 Lesson04 Lesson 04.doc

PAGE PAGE 42 Lesson Four Text Strategic Management Notes Vocabulary Comprehension Discussion Exercises Translation Writing Further Reading Case Study of A, Inc. Terms Seven-S framework mission statement Profile Michael Eisner TM References Lesson Four Strategic Management Strategic management involves managers from all parts of the organization in the formulation and implementation of strategic goals and strategies. It integrates strategic planning and management into a single process. Strategic planning becomes an ongoing activity in which all managers are encouraged to think strategically and to focus on long-term, external issues as well as short-term tactical and operational issues. Crafting and implementing strategy are core management functions. Among all the things managers do, few affect company performance more fundamentally than how well its management team charts the company’s long-term direction, develops competitively effective strategic moves and business approaches, and executes the strategy in ways that produce the targeted results. Indeed, good strategy and good strategy execution are the most trustworthy signs of good management. There are five major components in the strategic management process: (1) internal assessment, (2) environmental analysis, (3) strategy formulation, (4) strategy implementation, and (5) strategic control. Strategy matches the organization’s resources and activities with the external environment’s real or potential demands. Therefore, strategic decision makers should begin the strategic management process with a clear understanding of the company’s current activities and internal situation. As a result, the internal assessment involves two major steps: (1) review current strategy and (2) internal resource analysis. The first step in internal assessment is to examine the key elements of the organization’s