Strategic Management,1/e

5 Strategy Formulation

Would you tell me please which way I ought to go from here

—Lewis Carroll in Alice in Wonderland

LEARNING OBJECTIVES

• Identify the factors that are relevant in crafting a strategy
• Familiarize with some of the tools and frameworks helpful in stimulating the imagination to design a good strategy
• Equip using the data from external and internal analysis in formulating strategy of a firm
• Understand the heterogeneity of firms, its resources and capabilities and thus the appropriateness of different strategies
• Enable to prepare a strategic plan through strategic analysis
• Understand the sources and factors of sustainable competitive advantages.

IDEAS AT WORK 5.1

Strategy Show: GMR—Strategy of Overstretching, Burdening Itself ...