Strategic Management Summary of Chapters 6-10 of Strategic Management By Frank T. Rothaermel Lindsay E. C. Campbell MBA 595 - Spring 2017 Augsburg College Competitive Advantage Firm Performance and Business Models Strategy formulation process is used in the selection of an action course which is most appropriate and that when applied helps the organization in the realization of its set goals and objectives. The entire process of strategy formulation has eight basic steps which are very rational even though they do not necessarily follow a set chronological order. A level strategy for an organization involves a set of specific commitments and actions that are coordinated and integrated. The design of these actions is aimed at ensuring that customers are provided with quality services. This in turn helps the organization to have an advantage among the competitors. Competitive advantage is obtained through the utilization of the competencies that are core the implantation stage goes on the organization needs to formulate and develop plans that are specific and strategic for the overall strategy to be carried on. An organization must present a distribution system before entering a regional market. Additionally the overall operations carried out should be monitored from time to time. The middle and lower levels of management are responsible for the formulation and implementation of the selected strategy. For a firm to remain competitive in the global market it should be monitored from time to time and the strategy in place evaluated periodically. This evaluation ensures that the strategy in place is prevented from deteriorating and that its basic approach does not become obsolescence. Rothermael notes that the process of strategy evaluation necessitates the achievement of goals that have been set by the firm (Rothaermel 2015). References Rothaermel F. T. (2017). Strategic management (3rd ed.). New York NY: McGraw-Hill Education. [...]
3-5 page summary of the steps to be taken in the formulation strategy. Summary of chapters 6-10 of the third edition of Frank T. Rothaermel's Strategic Management book. APA format. Due Wednesday, March 8 by 12:00 CST. **Needs to have the ability to access the book as I cannot send it to you or scan it.