Management strategy

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Management strategy tips for small business owners. Management strategy outline for the small business. How to implement a management strategy and what it consists of.

Management strategy tips for small business owners. Management strategy outline for the small business. How to implement a management strategy and what it consists of.

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  • 1. www.inboundoutboundmarketing.com2013 IO Marketing – Proprietary and Confidential
  • 2. Roadmap  The strategic management process  Mission and vision statements  Analyzing strategic drivers and core competencies  SWOT analysis  Scenario planning 2013 IO Marketing – Proprietary and Confidential
  • 3. The Strategic Management Process  Define the business and its mission.  Perform external and internal audits.  Translate the mission into strategic goals.  Generate and select strategies to reach strategic goals.  Implement the strategy.  Evaluate performance. 2013 IO Marketing – Proprietary and Confidential
  • 4. A Comprehensive Strategic-Management Model 2013 IO Marketing – Proprietary and Confidential
  • 5. Vision and Mission A vision statement tells people Where we want to go What we want to become What we want to accomplish Why it is important And a mission expresses the organization’s: Purpose - the needs we exist to address Business - what are we doing to address these Values - what principles or beliefs guide our work
  • 6. Examples of Mission Statements CORPORATION OF DADE To provide information services in local-exchange and exchange-ac APEX ELEVATOR To provide a high-reliability, error-free method for moving people and products up, down, and sideways within a building To provide information services in local-exchange and exchange- access markets within its franchised area, as well as cellular phone and paging. services. JOSEPHSON DRUG COMPANY, INC. To provide people with longer lives and higher-quality lives by applying research efforts to develop new or improved drugs and health-care products. 2013 IO Marketing – Proprietary and Confidential
  • 7. Strategy Types  Corporate  Concentration  Vertical integration  Diversification  Status quo  Investment reduction  Strategic alliances/joint ventures  Competitive  Cost leadership  Differentiation  Focus 2013 IO Marketing – Proprietary and Confidential
  • 8. Forces Driving Industry Competition 2013 IO Marketing – Proprietary and Confidential
  • 9. Examples of a Company’s Strengths, Weaknesses, Opportunities, and Threats 2013 IO Marketing – Proprietary and Confidential
  • 10. How to Test the Quality of Your Strategy  Does your strategy fit with what’s going on in the environment?  Does your strategy exploit your key resources?  Will competitors have difficulty keeping up with you?  Are the elements of your strategy internally consistent?  Do you have enough resources to pursue this strategy?  Can your strategy be implemented? 2013 IO Marketing – Proprietary and Confidential
  • 11. Strategy Types Corporate Concentration Vertical integration Diversification Status quo Investment reduction Strategic alliances/joint ventures Competitive Cost leadership Differentiation Focus 2013 IO Marketing – Proprietary and Confidential
  • 12. How to Benchmark  as pricing, and don’t look for new product information.  Keep information you receive confidential.  Focus on a specific problem and define it carefully  Use employees who will actually implement changes to identify the best-practices companies and to conduct on-site studies.  Be willing to share information with others.  Avoid sensitive issues such 2013 IO Marketing – Proprietary and Confidential
  • 13. BCG Matrix 2013 IO Marketing – Proprietary and Confidential
  • 14. Scenario Planning Principles  Scenarios have value only to the extent that they inform decision makers and influence decision making.  Scenarios add value to decision making only when managers and others use them to systematically shape questions about the present and the future, and to guide how to go about answering them.  In each step of developing scenarios, the emphasis must be on identifying, challenging, and refining the substance of managers’ mindsets and knowledge. 2013 IO Marketing – Proprietary and Confidential