3Managerial Planning
Learning Objectives
By the end of this chapter, you should be able to:
• State the relationship between strategy, strategic planning, and operational planning.
• Identify the two steps in the strategic planning process and discuss their relationship.
• Describe competitive advantage, two ways to achieve it, and its importance.
• Explain the two most frequently used operational plans and describe the circumstances under which each is applicable.
• Identify and list four comprehensive planning mechanisms used in linking strategy and operations.
This chapter deals with the planning process in organizations. In simple terms, ...
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