2 key concepts in strategic management

  • 76 views
Uploaded on

 

More in: Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
76
On Slideshare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
4
Comments
0
Likes
0

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
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13
  • KEY STR MGT CONCEPTS. BCOM 07/08 24/09/13

Transcript

  • 1. 09/24/1309/24/13 ansserwanga@mubs.ac.ug, 0752- 82ansserwanga@mubs.ac.ug, 0752- 82 52 4752 47 Key concepts inKey concepts in StrategicStrategic ManagementManagement These concepts will make you learn the Strategic MGT language. These concepts will make you learn the Strategic MGT language.
  • 2. 09/24/1309/24/13 ansserwanga@mubs.ac.ug, 0752- 82ansserwanga@mubs.ac.ug, 0752- 82 52 4752 47 1. Strategy1. Strategy • A course of action to achieve the stated goals and objectives. • A coherent set of decisions & actions that a company will take to increase its competitive advantage/ a means of competitively winning battles against your rivals (like military strategies). • A unified, comprehensive and integrated plan for achieving the strategic direction, that relates the strategic advantages of a firm to the challenges in the environment
  • 3. 09/24/13 ansserwanga@mubs.ac.ug, 0752- 82 52 47 2. Strategic intent2. Strategic intent  A statement of the desired leadershipA statement of the desired leadership position that an organization wishes toposition that an organization wishes to achieve/a goal that employees perceiveachieve/a goal that employees perceive as inherently worthwhile.as inherently worthwhile.  Exceeds your current strategic focusExceeds your current strategic focus (picture) and existing resources.(picture) and existing resources. A corporate ambition /obsession/A corporate ambition /obsession/ challenge to win at all levels.challenge to win at all levels.
  • 4. 09/24/13 ansserwanga@mubs.ac.ug, 0752- 82 52 47 3. Stretch3. Stretch A strategic planning period adoptedA strategic planning period adopted by an organizationby an organization Better to refer your stretch to theBetter to refer your stretch to the ‘strategic window’ of your chosen‘strategic window’ of your chosen strategy( a period within which youstrategy( a period within which you chosen strategy will favourably workchosen strategy will favourably work coz everything is changing)coz everything is changing)
  • 5. 09/24/1309/24/13 ansserwanga@mubs.ac.ug,ansserwanga@mubs.ac.ug, 0752- 82 52 470752- 82 52 47 4. Competitive4. Competitive advantageadvantage • Internal factor that enables aInternal factor that enables a firm to have market superiorityfirm to have market superiority or leverage or an edge over itsor leverage or an edge over its competitors on a sustainablecompetitors on a sustainable basis.basis. • Must be valuable, rare,&Must be valuable, rare,& inimitable( originates from ainimitable( originates from a firm’s core competence).firm’s core competence).
  • 6. 09/24/1309/24/13 ansserwanga@mubs.ac.ug,ansserwanga@mubs.ac.ug, 0752- 82 52 470752- 82 52 47 Sources of competitiveSources of competitive advantageadvantage •Superior skillsSuperior skills •Superior resourcesSuperior resources •Superior positionSuperior position
  • 7. 09/24/1309/24/13 ansserwanga@mubs.ac.ug,ansserwanga@mubs.ac.ug, 0752- 82 52 470752- 82 52 47 Customer serviceCustomer service Continuous innovationContinuous innovation Superior technologySuperior technology Superior qualitySuperior quality Government protectedGovernment protected monopolymonopoly Patents andPatents and copyrights/accumulated brandcopyrights/accumulated brand equityequity
  • 8. 09/24/1309/24/13 ansserwanga@mubs.ac.ug,ansserwanga@mubs.ac.ug, 0752- 82 52 470752- 82 52 47 5. Strategic Competition5. Strategic Competition Competing for longCompeting for long term survivalterm survival Competing with a longCompeting with a long term orientationterm orientation
  • 9. 09/24/1309/24/13 ansserwanga@mubs.ac.ug, 0752- 82ansserwanga@mubs.ac.ug, 0752- 82 52 4752 47 6.6. Strategic thinkingStrategic thinking • Long term thinking (about what the future should be like). • Building scenarios of the future and plotting backwards to see how your present actions can influence the future. • Seeing the big picture (picture painting) about the future. Can only be successful when you get commitment from top executives ,and those key organizational members who will implement the strategy for achieving your strategic direction.
  • 10. 09/24/1309/24/13 ansserwanga@mubs.ac.ug, 0752- 82ansserwanga@mubs.ac.ug, 0752- 82 52 4752 47 7. Competitive exclusion7. Competitive exclusion • The argument that no two firms can co-exist if they continue to make their living in an identical way (may be achieved through competitive market targeting, and market positioning). • A firm survives at the expense of another similar one.
  • 11. 09/24/1309/24/13 ansserwanga@mubs.ac.ug, 0752- 82ansserwanga@mubs.ac.ug, 0752- 82 52 4752 47 Other key conceptsOther key concepts • Strategic issues • Strategic problem • Management/operational problem • Strategic fit • Business portfolio