ABSTRACT
This chapter discusses the different ways in which general strategic concepts are translated into strategic frameworks, strategic plans, enabling structures, action, and eventually profits through effective management in a variety of multinational company and market situations. It focuses on formulating strategic frameworks, which provide an overall integrating perspective for all the tasks, decisions, and activities. Enterprise-wide strategic management refers to decision making and action involving the enterprise as a whole, not just a single business unit within the enterprise. The chapter also focuses on formulating strategic frameworks, which can vary in their details by company and by management level, depending on the specific situation. At a minimum, a strategic framework usually includes a statement defining the kind of enterprise envisioned in terms appropriate for the situation for example, more general in some diversified volatile industries and firms and more specific in stable narrowly circumscribed ones.
