This chapter opened with a quote from former CEO of GE Jack Welch: "Manage your destiny, or someone else will." What does this mean for strategic management? What does it mean when Welch adds, "or someone else will"?List the six steps in the formal planning process. Suppose you are a top executive of a home improvement chain and you want to launch a new company website. Provide examples of activities you would carry out during each step to create the site.Your friend is frustrated because he's having trouble selecting a career. He says, "I can't plan because the future is too complicated. Anything can happen, and there are too many choices." What would you say to him to change his mind?How do strategic, operational, and tactical planning differ? How might the three levels complement one another in an organization?How might an organization such as Urban Outfitters use a strategy map? With your classmates and using Figure 4.3 as a guide, develop a possible strategy map for the company.What accounts for the shift from strategic planning to strategic management? In which industries would you be most likely to observe these trends? Why?Review Table 4.1, which lists the components of an environmental analysis. Why would this analysis be important to a company's strategic planning process?In your opinion, what are the core capabilities of Harley-Davidson Motor Company motorcycles? How do these capabilities help Harley-Davidson compete against foreign competitors such as Yamaha and Suzuki?How could SWOT analysis help newspaper companies remain competitive in the new media environment?What are the key challenges in strategy implementation? What barriers might prevent strategy implementation?

This chapter opened with a quote from former CEO of GE Jack Welch: "Manage your destiny, or someone else will." What does this mean for strategic management? What does it mean when Welch adds, "or someone else will"?List the six steps in the formal planning process. Suppose you are a top executive of a home improvement chain and you want to launch a new company website. Provide examples of activities you would carry out during each step to create the site.Your friend is frustrated because he's having trouble selecting a career. He says, "I can't plan because the future is too complicated. Anything can happen, and there are too many choices." What would you say to him to change his mind?How do strategic, operational, and tactical planning differ? How might the three levels complement one another in an organization?How might an organization such as Urban Outfitters use a strategy map? With your classmates and using Figure 4.3 as a guide, develop a possible strategy map for the company.What accounts for the shift from strategic planning to strategic management? In which industries would you be most likely to observe these trends? Why?Review Table 4.1, which lists the components of an environmental analysis. Why would this analysis be important to a company's strategic planning process?In your opinion, what are the core capabilities of Harley-Davidson Motor Company motorcycles? How do these capabilities help Harley-Davidson compete against foreign competitors such as Yamaha and Suzuki?How could SWOT analysis help newspaper companies remain competitive in the new media environment?What are the key challenges in strategy implementation? What barriers might prevent strategy implementation?