6. “ Somehow there are organizations that effectively manage change, continuously adapting their bureaucracies, strategies, systems, products, services and cultures to survive the shocks and prosper from the forces that decimate others . . . they are the masters of what I call renewal.” Robert H. Waterman, Jr. The Renewal Factor

7. Strategic management is a set of managerial decisions and actions aimed at the generation of sustainable competitive advantage .

18. Basic Model of Strategic Management

19. Four Basic Elements Of Strategic Management

21. MINTZBERG’ S 5 P’s of Strategy

23. Environmental Scanning

29. Vision Vision is a short and inspiring statement of what the organization intends to become and to achieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions that are broad, all-intrusive and forward-thinking. It is the image that a business must have of its goals before it sets out to reach them. It describes aspirations for the future, without specifying the means that will be used to achieve those desired ends.

34. Scenario Box to Generate Pro Forma Statements Pr ojections Last Historical T r end 19— 19— 19— Factor Y ear A verage Analysis O P ML O P ML O P ML Comments GDP CPI Other Sales units Dollars COGS Adver tising & marketing Inter est expense Plant expansion Dividends Net pr ofits EPS ROI ROE Other