After studying this chapter, you should be able to:
- Describe how strategic planning differs from operational planning.
- Explain the reason for conducting an industry, competitive, and company situation analysis.
- List the parts of an effective written objective and its must and want criteria.
- Discuss the four corporate-level grand strategies and the three growth strategies.
- Summarize the three business-level adaptive and competitive strategies.
- Identify the operational functional strategies, contrast standing plans and single-use plans, describe the value of a time log analysis, and explain how to effectively multitask.
- Explain the importance of implementing and controlling strategies.