Module 1 - Introduction ......................................................................................................................... 1 Module 2: Modelling the Strategic Planning Process ............................................................................. 6 Module 3 – Company Objectives ............................................................................................................ 8 Module 4 – The Company and the Economy ........................................................................................ 14 Module 5 - The company and the market ........................................................................................... 22 Module 6 – Internal analysis of the company....................................................................................... 40 Module 7 – Making Choices among Strategies..................................................................................... 49 Module 8 - Implementing and Evaluating Strategy ............................................................................. 59 Module 1 - Introduction 1.2.1 Managers definition of strategy The Planning approach:    Set objective, analyse environment, make forecasts and work out plan Assumptions with this approach: o The future can be predicted accurately enough to make rational choices o It’s possible to detach strategy formulation from everyday management  but data goes out of date quickly & who decides what data is relevant? o Its possible to forego short term benefit in order to gain long term advantage – everyone may be focused on next quarters figures o Strategies proposed are capable of being managed in the way proposed - change is difficult o CEOs has knowledge and power to freely choose amongst options o After analysis, strategy does not need to be altered to reflect changing circumstances o Implementation is a separate phase that comes after strategy has been agreed This approach often fails as individuals become comm