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Three basic questions must be answered by managers of organizations of all sizes as they begin the process of crafting strategy:
Process of crafting and executing strategy. Incorporate the latest developments in the theory and practice of strategic management in every chapter to keep the content solidly in the mainstream of contemporary strategic thinking. Focus squarely on what every student needs to know about crafting, implementing, and executing business. Crafting executing strategy the quest for c01vlpetitive advantage: concepts and cases 2009 custom ed ition taken from: crafting executing strategy: the quest. 2 Million more documents. Thompson Crafting and executing strategy pdf. The Academy of Management.
• What is our present situation?
• Where do we want to go from here?
• How are we going to get there?
After you have read the Participant’s Guide or Player’s Manual for the strategy simulation exercise that you will participate in during this academic term, you and your co-managers should come up with brief one- or two-paragraph answers to these three questions prior to entering your first set of decisions. While your answer to the first of the three questions can be developed from your reading of the manual, the second and third questions will require a collaborative discussion among the members of your company’s management team about how you intend to manage the company you have been assigned to run.
What is our company’s current situation? A substantive answer to this question should cover the following issues:
• Is your company in a good, average, or weak competitive position vis-à-vis rival companies?
• Does your company appear to be in a sound financial condition?
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• Does it appear to have a competitive advantage, and is it likely to be sustainable?
• What problems does your company have that need to be addressed?
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