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  • Gantt Charts Program Evaluation and Review Technique (PERT) – network planning for large projects 1 Clearly defined project activities 2. Sequencing requirements 3. Sequence relationships diagram- graphicall depicts interrelatioships among activities identify activityor work component (arrow) identity node (circle) in ‘tens’ 4. Time estimates (formula) Expected Time = (time optimistic+4(time most likely)+time pessimistic)/6 5. Calculate critical path – network taking the longest to complete (adding times) 6. Calculate actual activity times
  • Process can be seen on page 206 (similar to overhead) Strategy formulation -process of identifying the mission and strategic goals, competitive analysis, and specific strategies Strategy implementation -process of carrying out the strategic plans and controlling how they are carried out
  • Grand Strategy – provides basic direction at the corporate level Growth – organisational expansion as a major element (acquisitions, mergers, joint ventures) Concentration – focuses on growing a single product or service through market development, product development, horizontal integration (adding 1+ similar businesses usually by purchase) Vertical integration – production of inputs previously supplied by a supplier Diversification- growing through the development of areas that are clearly distinct from current businesses Conglomerate-org. diversifie sinto unrelated main businesses Concentric – org. diversifies into related, but distinct businesses Stability – maintaining the status quo – growing in a methodical, slow manner Defensive – retrenchment strategies – focus on reducing org operations through cost reductions and/or asset reductions Harvest –min. investments and max. short run profits and cash flow w/long-run iintention to leave the market – usually done when doubt of market future Turnaround- designed to reverse a neg trend and restore appropriate profitability Divestiture – selling or divesting a business or part of one Bankruptcy Liquidation- selling or dissolving entire org
  • Porter’s Competitive Strategies Cost Leadership minimise cost in every business aspect to thereby provide products and services at a lower price of the competitiors; quality cannot be compromised Differentiation Strategy Develop products/services viewed as unique in the industry (design, brand, customer service, features, selection) Focus Strategy Positioning for overall cost leadership, differentiation, or both but with a particular portion/segment of an entire market

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  • 1. DECISION-MAKING PLANNING & Strategic Management
  • 2. CASE STUDY Personal Planning Techniques From last week, write a strategic plan for your life.
  • 3. Project Planning & Control Models
    • Gantt Charts
    • Program Evaluation and Review Technique (PERT)
      • Clearly defined project activities
      • Sequencing requirements
      • Sequence relationships diagram
      • Time estimates (formula)
      • Calculate critical path
      • Calculate actual activity times
  • 4. Management by Objectives (MBO)
    • Process by which specific goals are set collaboratively for the whole organisation and every unit and individual within it
    • Goals are then used for planning, managing, organisational activities and assessing and rewarding contributions
  • 5. Management by Objectives (MBO)
    • Steps in the MBO process
      • Develop overall organisational goals
      • Establish specific goals for depts, SBUs and individuals
      • Formulate action plans
      • Implement and maintain self-control
        • Give latitude in carrying out activities
      • Review progress periodically
      • Appraise performance
  • 6. Strategic Management
    • The Process
      • Strategic formulation
      • Strategy implementation
  • 7. Levels of Strategy (refer to p. 207)
    • Corporate-level strategy
      • Addresses the businesses an organisation will operate
      • How strategies of those businesses will be coordinated
      • How resources will be allocated
      • Typically developed by top management
    • Business-level strategy (SBUs)
      • How best to compete in particular business while supporting corporate strategy
    • Functional level strategy
      • Action plans for functional area to support the business-level strategy
  • 8. Formulating Corporate-Level Strategy
    • Grand Strategy
      • Growth
        • Concentration
        • Vertical integration
        • Diversification
      • Stability
      • Defensive
        • Harvest
        • Turnaround
        • Divestiture
        • Bankruptcy
        • Liquidation
  • 9. Portfolio Strategy Approaches
    • BCG growth-share mix
    • Product/Market evolution matrix
    Decline Saturation Maturity Competitive shakeout Growth Development Weak Average Strong Business Unit’s Competitive Position
  • 10. Formulating Business-Level Strategy
    • Porter’s Competitive Strategies
        • Cost Leadership
        • Differentiation Strategy
        • Focus Strategy
    Formulating Functional -Level Strategy
  • 11. Strategy Implementation
    • Carry out strategic plans
      • Technology
      • Human resources
      • Reward systems
      • Decision processes
      • Structure
    • Maintain strategic control
      • Strategic control systems
      • Adjustments as necessary