Strategy Formulation deals with the formulation of corporate objectives. It includes identification of internal strengths and weakness of the firm, analyses of the values and demands of organizational stakeholders, and firm's organization and decision processes. Strategy Implementation deals with general management problems of strategy execution. Making a new strategy work may require designing internal structures, management systems, reward systems, leadership, and supportive corporate cultures. Contemporary management Issues.
Every economic period poses some special challenges for business enterprises.
This part of the course examines globalization, the complexification of business issues with the development of new organizational forms such as alliances and networks, and the management technology and innovation. In the 1990s corporations are faced with crises of various sorts. Management of industrial and environmental crises will receive special attention in this section. Business and the natural environment. Issues pertaining to the protection of the natural environment will have been touched on as part of every class.