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Strategy selection
Strategy selection
Strategy selection
Strategy selection
Strategy selection
Strategy selection
Strategy selection
Strategy selection
Strategy selection
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Strategy selection

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Enterprise and insititution strategy management tool new description and selection algorthm. …

Enterprise and insititution strategy management tool new description and selection algorthm.
In this presenation a new method of entperprise and institution strategy management tools is developed. First new precise definitions are given for most popular strategy management methods, afterwards a new algorithm is designed for the correct choice of strategy menagement tools. The methods of SWOT analysis, Balanced Scorecard, Blue ocean strategy, Bowman's strategy clock, Six sigma, Boston Consulting Group matrix are considered.

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  • 1. Gints Turlajs General Manager of Accounting & Consulting Institute (www.aci.lv) 07.10.2011., RTU conference APPLICATION METHODOLOGY OF ENTERPRISE STRATEGY MANAGEMENT TOOLS
  • 2. Strategy management tools <ul><li>Many enterprise strategy management tools exist that are used for increasing enterprise effectiveness and leading them to excellence. </li></ul><ul><li>These tools are at times glorified and mistified to increase the reward to those working with them, none are universal and their application has to be correctly managed. </li></ul><ul><li>New tools are constantly being created and an algorithm of application is needed for correct selection and use of those tools for complex strategy management. </li></ul>
  • 3. Strategy management tools <ul><li>In this article are given new very brief and precise descriptions of the methods together with descriptions of circumstances in which they are most effective. </li></ul><ul><li>This is followed by a new algorithm for the appliation of these tools. </li></ul><ul><li>In this presentation due to time limitations only the most popular and widesrpread strategy management tools are considered. </li></ul>
  • 4. Classification of tools – author's proposition Tool Core features Most effective application Balanced scorecard A tool for determining strategic objectives and measuring their achievement accounting for the needs of stakeholders – clients, shareholders, employees, population, etc. Large enterprises and institutions with complex ethical dilemmas and extensive influence on other stakeholdes. Six sigma Tool for quality mangement to reduce defects to a critically low. Best in industrial production, some believe in very wide application of the method. Enterprises and institutions with mass production, quality problems. Blue ocean strategy Tool for determining competitive landscape and designing products with least existing competition. Start-ups and existing enterprises in new product development. Enterprises with mature product portfolio and competition.
  • 5. Classification of tools – author's proposition Tool Core features Most effective application BCG matrix Classification of products in product protfolio according to their market share and growth. Large enterprises with diversified product portfolio. SWOT Description of stregths, weaknesses, opportunitites and threats. Wide application in all enterprises and institutions, as well as in other situations. Useful in situations of unceratinty. Bowman’s strategy clock Determinantion of the price and added value strategy. In start-ups and new product development in existing enterprises, pricing.
  • 6. Method selection and use algorithm developed by author SWOT analysis (method of general application, can be used in all cases) Is the enterprise trying introduce new products or change the existing? YES Blue ocean strategy, Bowman's strategy clock Is it a large complex enterprise with a large product portfolio? BCG matrix, Six sigma, Balanced scorecard YES NO EXIT EXIT ENTER NO NO
  • 7. Additional comments <ul><li>SWOT is a strategy tool that can be used in almost all cases – large and small enterprises, institutions, etc. </li></ul><ul><li>Balanced Scorecard is working very well with insitutions. </li></ul><ul><li>Other tols are best used for enterprises, not insitutions. </li></ul>
  • 8. Conclusions <ul><li>There exist specific circumstances in which strategy management tools are best applied. </li></ul><ul><li>Algorithm for the application of most popular strategy management tools developed by author can greatly aid in their application. </li></ul>
  • 9. Contacts <ul><li>Thank You for Your attention! </li></ul><ul><li>Please do not hesitate to contact me: </li></ul><ul><li>Email: [email_address] </li></ul><ul><li>Telephone: +371 29409509 </li></ul>

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