Imagine That You Are the CEO of Smiley's, a Chain

question 36

Essay

Imagine that you are the CEO of Smiley's, a chain of family-style restaurants. You are interested in implementing the strategic-management process in your restaurants. Discuss the strategic-management process and explain how you would execute each of the steps and the feedback loop of the strategic-management process in your restaurant chain.

Define and explain the concept of sustainable competitive advantage and its significance in strategic management.

Recognize the different opportunities for developing competitive advantage and the limitations thereof.

Understand the roles and responsibilities of inside directors and the importance of effective board governance in strategic management.

Comprehend the critical tasks of strategic leadership including resource allocation and the creation of a culture of urgency.

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Definitions:

Tax

A financial charge imposed by the government, required for the support of the government and public services.

Tax Per Unit

A tax imposed on goods or services that is based on a fixed amount for each unit sold.

Paperback Novels

Books printed on lower-quality paper with soft covers, typically more affordable and portable than their hardcover counterparts.

Gasoline

A volatile, flammable liquid derived from petroleum, used chiefly as fuel in internal-combustion engines.