Your SlideShare is downloading. ×
Wheelen10 ppt01
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Wheelen10 ppt01

3,189
views

Published on


0 Comments
4 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
3,189
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
147
Comments
0
Likes
4
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. STRATEGIC MANAGEMENT & BUSINESS POLICY 10 TH EDITION THOMAS L. WHEELEN J. DAVID HUNGER CHAPTER 1 Basic Concepts of Strategic Management
  • 2. Basic Concepts of Strategic Management
    • Globalization
      • Internationalization of markets and corporations
        • Global (worldwide) markets rather than national markets
    • Electronic Commerce
      • Use of the Internet to conduct business transactions
        • Basis for competition on a more strategic level rather than traditional focus on product features and costs
  • 3. Basic Concepts of Strategic Management
    • Electronic Commerce -- Trends
    • Forcing company transformation
    • Market access & branding changing – disintermediation of traditional distribution channels
    • Balance of power shift to consumer
    • Competition changing
  • 4. Basic Concepts of Strategic Management
    • Electronic Commerce -- Trends
    • Pace of business increasing
    • Internet purchasing beyond traditional boundaries
    • Knowledge key asset – source of competitive advantage
  • 5. Strategic Management Defined Set of managerial decisions and actions that determines the long-run performance of a firm.
  • 6. Basic Concepts of Strategic Management
    • 4 Phases of Strategic Management
    • Basic financial planning
    • Forecast-based planning
    • Externally-oriented planning
    • Strategic management
  • 7. Basic Concepts of Strategic Management
    • Highly Rated Benefits
    • Clearer sense of strategic vision
    • Sharper focus on strategic importance
    • Improved understanding of changing environment
  • 8. Basic Concepts of Strategic Management
    • Not Always a Formal Process
    • Where is the organization now? (not where do we hope it is)
    • If no changes are made, where will the organization be in 1,2,5 or 10 years?
    • What specific actions should management undertake?
    • What are the risks and payoffs?
  • 9. Basic Concepts of Strategic Management Basic Elements of the Strategic Management Process
  • 10. Environmental Scanning Defined Monitoring, evaluation, and disseminating information from external and internal environments –to key people in the firm
  • 11. Basic Concepts of Strategic Management Environmental Variables
  • 12. Environmental Scanning
    • SWOT Analysis
    • Strengths – Weaknesses
    • Opportunities - Threats
  • 13. Strategy Formulation Development of long-range plans for effective management of opportunities and threats in light of corporate strengths and weaknesses
  • 14. Strategy Formulation
    • Mission Statement
    • Purpose/reason for organization
    • Promotes shared expectations
    • Communicates public image
    • Who we are; what we do; what we aspire to
  • 15. Organizational Adaptation
    • Organization “fit” with environment
    • Theory of population ecology
    • Institution theory
    • Strategic choice perspective
    • Organizational learning theory
  • 16. Organizational Adaptation
    • Strategic flexibility
    • Demands long-term commitment to development of critical resources
    • Demands firm become a learning organization
  • 17. Learning Organizations An organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights
  • 18. Learning Organizations
    • 4 Chief Activities
    • Systematic problem solving
    • New approach experimentation
    • Learning from experiences
    • Intra-organization knowledge transfer
  • 19. Basic Concepts of Strategic Management Hierarchy of Strategy
  • 20. Goals & Objectives
    • Corporate Goals/Objectives
      • Profitability (net profit)
      • Growth
      • Resource utilization (ROE, ROI)
      • Market leadership
  • 21. Basic Concepts of Strategic Management
    • 3 Types of Strategy
      • Corporate strategy
      • Business strategy
      • Functional strategy
  • 22. Basic Concepts of Strategic Management
    • Corporate Strategy
      • Stability
      • Growth
      • Retrenchment
  • 23. Basic Concepts of Strategic Management
    • Business Strategy
      • Competitive strategies
      • Cooperative strategies
  • 24. Basic Concepts of Strategic Management
    • Functional Strategy
      • Technological leadership
      • Technological followership
  • 25. Basic Concepts of Strategic Management Strategic Decision-Making Process
  • 26. Strategic Decision Making
    • Strategic Decisions
      • Rare
      • Consequential
      • Directive
  • 27. Strategic Decision Making
    • Mintzberg’s Modes
      • Entrepreneurial mode
      • Adaptive mode
      • Planning mode
      • Logical incrementalism
  • 28. Hambrick and Fredrickson – Good Strategy
    • 5 Elements of Good Strategy
      • Arenas
      • Vehicles
      • Differentiators
      • Staging
      • Economic logic