Definining Strategic Management

For this forum, you need to launch the lesson for week two and read chapters 1 & 2 in the textbook. The text can be found in the library e-reserves. http://ezproxy.apus.edu/login?url=http://search.eb…

It is very important for managers to see their jobs as more than just custodians of the “status quo.” Rather, they must proactively anticipate change and continually refine as well as, when necessary, make significant changes to their strategies. This has become particularly important as competitive environments become characterized by increasing rates of unpredictable change.

After launching this week’s lesson, and reading Chapters 1 & 2 in the textbook, answer the following questions in this forum.

Forum Assignment

Review Porter’s Five-Forces model of industry competition (2.3.1 in text). Using your own words (do not copy definitions from the text), explain the model’s importance in the concept of strategic grouping within industries. Use your own words and reference accordingly.