Read the summary and the most important questions on Fundamentals of strategy with my strategylab. | 9780273736752 | Gerry Johnson, Kevan Scholes.

• 1 Introducing strategy

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• Where are strategic decisions about?

  - The long term direction of an organisation
  - The scope of an organisation's activities
  - Gaining advantage over competitors
  - Adressing changes in the business environment
  - Building on resources and competences (capabilities)
  - Values and expectations of stakeholders

• What are strategic decisions likely to?

  - Be complex in nature
  - Be made in situations of uncertainty
  - Affect operational decisions
  - Require an intergrated approach (both inside and outside an organisation)
  - Involve considerable change

• Which levels of strategy are there?

  - Corporate level strategy
  - Business-level strategy
  - Operational strategies

• What can be included in corporate level strategy?

  Issues of geographical voverage, diversity of products/services or business units, and how resources are to be allocated between different parts of the organisation.

• Where is corporate level strategy also concerned with?

  With the expectations of owners- the shareholders and the stockmarket.

• Where is business-level strategy in general concerned with?

   Issues such as pricing strategy, innovation or differentation.

• What is the difference between corporate level strategy and business level strategy?

  Corporate level strategy involves decisions about the organisation as a whole, strategic decisions relate to particular strategic business units (SBUs) within the overall organisation.

• What is a strategic business unit (SBU)?

  Is part of an organisaton for wich there is a distinct external market for goods or services that is different from anaother SBU.

• Where is the strategic position concerned with?

  The impact of strategy on:
  - the external environment
  - an organisations strategic capabillitie (resources and competences)
  - and the expectations and influence of stakeholders

• What do strategic choice involve?

  Understanding the underlying bases for future strategy at both the business unit and corporate levels an the options for developing strategy in terms of both the directions and methods of development.