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Business managemnt2
 

Business managemnt2

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this is business management

this is business management
you will able to draw the strategy and develop it

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    Business managemnt2 Business managemnt2 Presentation Transcript

    • Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Strategic Business Management
    • 1-2 What is the meaning of Strategic Business Management? The activities associated with running a company, such as controlling, leading, monitoring, organizing, and planning
    • 1-3 Planning LeadingOrganizing Controlling Management Functions Management Functions
    • 1-4 A process that includes defining goals, establishing strategy & developing plans to coordinate activities Planning Planning
    • 1-5 Determining what tasks are to be done, who is to do them, how the tasks are to be grouped, who reports to whom & where decisions are to be made Organizing Organizing
    • 1-6 A function that includes motivating employees, directing others, selecting the most effective communication channels, and resolving conflicts Leading Leading
    • 1-7 Monitoring activities to ensure they are being accomplished as planned & correcting any significant deviations Controlling Controlling
    • 1-8 Efficient versus Effective Management Traditional Management Decision making, planning, & controlling Communication Exchanging routine information & processing paperwork Human Recourses Management Motivating, disciplining, managing conflict, Staffing, & training Networking Socializing, politicking, & interacting with others
    • 1-9 Future Short / Long Term planning Strategy
    • 1-10 10 Strategy & Objectives S M A R T Specific Measurable Achievable Realistic Time bounded
    • 1-11 Strategic Challenges
    • 1-12 Business Mission and Its Vision An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future A written declaration of an organization's core purpose and focus that normally remains unchanged over time. Vision Mission A mission is different from a vision in that the former is the cause and the latter is the effect; a mission is something to be accomplished whereas a vision is something to be pursued for that accomplishment
    • 1-13 A SWOT Chart SWOT Analysis The use of a SWOT chart to compile and organize the process of identifying company Strengths, Weaknesses, Opportunities, and Threats. P.S lately they call it SLOT as L stands for Limitations
    • 1-14 Organization’s Strategy
    • 1-15 Types of Strategic Planning
    • 1-16 Types of Strategic Planning Diversification strategy The firm will expand by adding new product lines. Vertical integration strategy means the firm expands by producing its own raw materials, or selling its product direct. Consolidation strategy reduces the company’s size. Geographic expansion strategy takes the company abroad.
    • 1-17 Cost leadership: A firm aims to become the low-cost leader . Differentiation: A firm seeks to be unique in its industry. Focus: A firm seeks to compete by providing a product or service customers can get in no other way. Functional strategies Identify the basic courses of action that each department will pursue in order to help the business attain its competitive goals. Types of Strategic Planning
    • 1-18 Competitive Advantage Any factors that allow an organization to differentiate its product or service from those of its competitors to increase market share Competitive advantage Ex. Mc Donald’s competitive advantage, consist of two key elements: Production & delivery speed; while Microsoft’s competitive advantage is making user friendly software
    • 1-19 1 2 3 4 5 Strategic Business Management Business target market Business mission statement Business customer Business strategy for competition Business objectives and performance 6 Policies & procedures 9 7 8 Potential opportunities for increased sales & profits Foresee future Assessment of your competitors
    • 1-20 1. Business mission statement without a guiding mission statement, a business is bound to fail. 2. Business target market a business should have a written description of the firm’s target market , knowing where the product or service is produced? 2. Business customer you should answer the following questions: - what customers characteristics are? - what are they purchasing? - what they buy from you? Strategic Business Management
    • 1-21 4. Business strategy for competition Do you have a master strategy designed to keep your firm ahead of the competition? Every firm should define its competitive advantage & then seek to maintain it through planning. 5. Business objectives and performance Do you have written objectives to guide your company’s performance in critical areas? Are they specific and measurable? Do they include a time frame and an index for measuring progress? 6. policies & procedures Have you created written policies to guide action and decision making in the organization and to ensure consistency? Do employees know what these policies are? Are thy followed? Strategic Business Management
    • 1-22 7. Potential opportunities for increased sales Have you identified potential opportunities for increased sales and profits for your firm? New products, new markets, or new locations could generate more business for the small firm if management has the capacity to reach them ? 8. Foresee future Do you attempt to foresee future conditions and changes that have a significant impact on your business? Do you predict future economic trends and their affection your business? Although no forecast is ever completely accurate, managers should attempt to peer into the future to avoid being surprised by unforeseen changes. Strategic Business Management
    • 1-23 9. Assessment of your competitors Do you make assessment of your competitors’ actions so that you can plot a strategy to meet them? How do customers perceive your firm in comparison to your competitors? Strategic Business Management
    • 1-24 Strategic Management Process Strategic management tasks  Step 1: Define the Business and Its Mission  Step 2: Perform External and Internal Audits  Step 3: Translate the Mission into Strategic Goals  Step 4: Formulate a Strategy to Achieve the Strategic Goals  Step 5: Implement the Strategy  Step 6: Evaluate Performance
    • 1-25 Step 1: get the big picture Understand your business strategy Highlight the key driving forces of your business? e.g., technology, distribution, competition. what are the fundamental people contribution to bottom business performance? Step 2: develop a mission statement Develop the mission statement that relates to the people side of the business. Strategic Management Process
    • 1-26 Step 3: conduct a SWAT analysis of the organization focus on the internal strengths and weaknesses of people side of the business Consider the current skill and capability issue Highlight the opportunities & threats relating to the people side of the business Consider skill shortages The impact of new technology on staffing levels Strategic Management Process
    • 1-27 Step 4 : conduct a detailed HR analysis  Concentrate on the organization’s COPS (culture, organization, people, and HR systems)  Consider where you are now & where do you want to be?  What gaps exists between the reality of where you are now and where you want to be? Step5: determine critical people issues  Go back to your business strategy and examine it against your SOWT and COPS analysis.  Identify where you should be focusing your efforts and resources. Strategic Management Process