The first chapter of this book introduces strategic management, the set of decisions and action that result in the design and activation of strategis to achieve the objectives of an arganization. The chapter provides an overview of the nature, benefit, and terminology of and the need for strategic management.
The first major section of chapter 1: “the nature and value of strategic management”, “emohasuzes the practical value and benefits of strategic management for a firm, italso distinguishes between a firm’s strategic decisions and it’s other planning tasks.