Question: 1. Exploring Strategic Management The strategic management process involves five steps. Let's discuss the five step process including the feedback loop. What is the importance

1. Exploring Strategic Management The strategic management process involves five steps. Let's discuss the five step process including the feedback loop. What is the importance of each step? 2. Strategic Planning and the Competitive Advantage Scholar Michael Porter argues that strategic positioning -- the ability of a company to make choices about the kind of value it will create and how that value will be created differently than rivals-and how a company attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. Let's discuss the three key principles underlining strategic positioning. Provide rationale and examples for each. 3. Are You Managing Strategically?? Considering the concepts of Chapter 5 (Successful Planning) here's a question to ponder... Are you, as a manager, really managing if you don't have a strategy and a plan? Why or why not? Provide rationale for your response

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