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Defining and Understanding Strategic Management

In: Strategy for Action – I

Author

Listed:
  • Giorgio Gandellini

    (University of Rome III)

  • Alberto Pezzi

    (University of Rome III)

  • Daniela Venanzi

    (University of Rome III)

Abstract

After a short “operational” definition of strategy, we will focus our attention on the mechanism that creates a company’s wealth, and on the critical relevance of a market orientation, including the creation of value for the customers, for triggering this mechanism. We will then emphasize the importance of formalizing the strategic decisions into an explicit strategic plan, and supporting the plan with appropriate conceptual and operational decision models. We will therefore discuss the basic concepts and models that link together the firm’s market and economic performance, including an overview of pricing strategies, and provide a concrete translation of these models into several spreadsheet templates. Finally, we will extend the modeling approach to the issue of strategic managing multiple businesses, providing a number of conceptual frameworks that could be translated into operational decision support systems.

Suggested Citation

  • Giorgio Gandellini & Alberto Pezzi & Daniela Venanzi, 2012. "Defining and Understanding Strategic Management," SpringerBriefs in Business, in: Strategy for Action – I, edition 127, chapter 0, pages 1-43, Springer.
    • Handle: RePEc:spr:spbrcp:978-88-470-2487-8_1
    DOI: 10.1007/978-88-470-2487-8_1
    as

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