Strategic Management
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Strategic Management Presentation Transcript

  • 1. STRATEGIC MANAGEMENT ICS 395 AJ ALMANEY, PH.D.
  • 2. INFORMATION FOR THE INDEX CARDS
    • COURSE NO.: ICS 395
    • DAY:
    • YOUR NAME:
    • PHONE NO.:
    • NAME OF CASE:
    • YOUR GROUP NO.:
  • 3. THE MEANING OF ANALYSIS
    • IT IS THE PROCESS OF BREAKING A SYSTEM DOWN INTO SUBCOMPONENTS AND STUDYING EACH SUBCOMPONENT IN TERMS OF SPECIFIC CRITERIA.
  • 4. THE MEANING OF STRATEGIC ANALYSIS
    • IT IS THE PROCESS OF ANALYZING AN ORGANIZATION FROM THE STRATEGIC MANAGEMENT PERSPECTIVE.
  • 5. THE MEANING OF STRATEGIC MANAGEMENT
    • IT IS THE PROCESS OF ANALYZING THE ORGANIZATION’S INTERNAL AND EXTERNAL ENVIRONMENTS AS A BASIS FOR SELECTING A COURSE OF ACTION DESIGNED TO ACHIEVE THE ORGANIZATION’S LONG AND SHORT-TERM OBJECTIVES.
  • 6. INTERNAL ANALYSIS INTERNAL ANALYSIS IT IS THE PROCESS OF EXAMINING THE INTERNAL OPERATIONS OF THE COMPANY TO IDENTIFY THE STRENGTHS AND WEAKNESSES
  • 7. INTERNAL ANALYSIS EXAMPLES
    • MICROSOFT: ORGANIZATIONAL HEALTH INDEX
    • THE UNIVERSITY OF CHICAGO: ATTENTION TO SOFT STUFF
  • 8. EXTERNAL ANALYSIS EXTERNAL ANALYSIS IT IS PROCESS OF EXAMINING THE EXTERNAL FORCES TO IDENTIFY THE OPPORTUNITIES AND THREATS
  • 9. EXTERNAL ANALYSIS EXAMPLES
    • OLD NAVY: FASTEST GROWING GAP UNIT
      • JENNY MING’S ABILITY TO PREDICT FASHION
      • SEVENTEEN MAGAZINE, DAUGHTERS
      • TRIPS TO PARIS AND LONDON
    • GENERAL MOTORS:
    • DEPAUL UNIVERSITY
  • 10. BENEFIT OF ENVIRONMENTAL ANALYSIS
    • HEIGHTENS AWARENESS OF INTERNAL CAPABILITIES AND EXTERNAL OPPORTUNITIES AND CHALLENGES.
  • 11. DOES ANALYSIS IMPROVE THE BOTTOM LINE?
    • CONTINENTAL AIRLINES: WHERE DO WE NEED TO IMPROVE? BENCHMARKING, JD POWERS, FORTUNE’S BEST PLACES TO WORK
    • IMPROVES THE BOTTOM LINE: SEARS’ STUDY: 5% -> 1.3% ->5%
  • 12. AN OVERVIEW OF THE STRATEGIC ANALYSIS FRAMEWORK
    • THE DESCRIPTIVE PHASE
    • THE DIAGNOSTIC PHASE
    • THE PRESCRIPTIVE PHASE
  • 13. THE DESCRIPTIVE PHASE
    • THE PROCESS OF GATHERING INFORMATION ABOUT THE COMPANY’S INTERNAL AND EXTERNAL ENVIRONMENTS
  • 14. THE DIAGNOSTIC PHASE
    • IT INVOLVES EVALUATING AND PASSING JUDGEMENT ON THE GATHERED INFORMATION.
    • ITS PURPOSE IS TO ASSESS THE PHYSICAL AND EMOTIONAL HEALTH OF THE COMPANY (I.E., ITS STRENGTHS AND WEAKNESSES)
  • 15. THE PRESCRIPTIVE PHASE
    • DEVELOPING A STRATEGY TO IMPROVE THE ORGANIZATION’S COMPETITIVE POSITION
  • 16. FOCUS OF THE DESCRIPTIVE PHASE
    • A. PROFILE OF THE INTERNAL ENVIRONMENT
      • THE CORPORATE LEVEL
      • THE FUNCTIONAL LEVE
    • B. PROFILE OF THE EXTERNAL ENVIRONMENT
      • THE TASK ENVIRONMENT
      • THE GENERAL ENVIRONMENT
  • 17. THE CORPORATE LEVEL
    • STRATEGIC MANAGERS
      • BOARD OF DIRECTORS
      • TOP MANAGEMENT
    • ENVIRONMENTAL ANALYSIS
      • INTERNAL ANALYSIS
      • EXTERNAL ANALYSIS
  • 18. CORPORATE LEVEL (CONT’D)
    • STRATEGY FORMULATION
      • MISSION
      • VALUES STATEMENT
      • VISION
      • OBJECTIVES
      • GRAND STRATEGIES
      • COMPETITIVE STRATEGIES
      • SLOGAN
  • 19. MISSION
    • THE ORGANIZATION’S REASON FOR EXISTENCE
    • IT ANSWERS THE QUESTION: WHAT BUSINESS ARE WE IN?
  • 20. PURPOSE
    • THE REASON FOR THE ORGANIZATION’S EXISTENCE
  • 21. THE MISSION STATEMENT OF HARD ROCK CAFE
    • TO SPREAD THE SPIRIT OF ROCK ‘N’ ROLL BY DELIVERING AN EXCEPTIONAL ENTERTAINMENT AND DINING EXPERIENCE.
  • 22. THE MISSION OF STARBUCKS
    • TO ESTABLISH STARBUCKS AS THE PREMIER PURVEYOR OF THE FINEST COFFEE IN THE WORLD WHILE MAINTAINING OUR UNCOMPROMISING PRINCIPLES AS WE GROW
  • 23. THE MISSION OF PAPA JOHN’S
    • PEOPLE ARE OUR MOST IMPORTANT ASSET. WE WILL PROVIDE CLEAR, CONSISTENT, STRATEGIC LEADERSHIP AND CAREER OPPORTUNITIES FOR OUR TEAM MEMBERS WHO EXHIBIT PASSION TOWARD THEIR WORK AND UPHOLD OUR CORE VALUES.
  • 24. VALUES STATEMENT
    • VALUES REFER TO MANAGEMENT BELIEFS, PRINCIPLES, AND COMMITMENTS TO STAKEHOLDERS.
    • PRIMARY STAKEHOLDERS ARE: EMPLOYEES, CUSTOMERS, SHAREHOLDERS, AND SOCIETY.
  • 25. VALUES OF HARD ROCK CAFE
    • WE ARE COMMITTED TO BEING AN IMPORTANT, CONTRIBUTING MEMBER OF OUR COMMUNITY AND OFFERING THE HARD ROCK FAMILY A FUN, HEALTHY, AND NURTURING WORK ENVIRONMENT WHILE ENSURING OUR LONG-TERM SUCCESS
  • 26. FORD’S GUIDING PRINCIPLES
    • QUALITY COMES FIRST
    • CUSTOMERS ARE OUR FOCUS
    • EMPLOYEE INVOLVEMENT IS OUR WAY OF LIFE
    • DEALERS AND SUPPLIERS ARE OUR PARTNERS
    • INTEGRITY IS NEVER COMPROMISED
  • 27. VALUES AND REPUTATION
    • BEN AND JERRY’S
    • WAL-MART
    • HOME DEPOT
    • JOHNSON AND JOHNSON
    • DISNEY
    • SOUTHWEST AIRLINES
    • COCA COLA
    • MICROSOFT
  • 28. VALUES AND REPUTATION
    • JOHNSON AND JOHNSON (1)
    • COCA COLA (2)
    • BEN AND JERRY’S (5)
    • WAL-MART (6)
    • HOME DEPOT (8)
    • DISNEY (10)
    • MICROSOFT (15)
    • SOUTHWEST AIRLINES (25)
  • 29. JOHNSON AND JOHNSON’S CREDO
    • OUR FIRST RESPONSIBILITY IS TO THE DOCTORS, NURSES AND PATIENTS, TO MOTHERS AND FATHERS AND ALL OTHERS WHO USE OUR PRODUCTS AND SERVICE.
    • WE ARE RESPONSIBLE TO OUR EMPLOYEES, THE MEN AND WOMEN WHO WORK WITH US THROUGHOUT
  • 30. J AND J’S CREDO
    • THE WORLD
    • WE ARE RESPONSIBLE TO THE COMMUNITIES IN WHICH WE LIVE AND WORK AND TO THE WORLD COMMUNITY AS WELL.
    • OUR FINAL RESPONSIBILITY IS TO OUR STOCKHOLDERS. BUSINESS MUST MAKE A PROFIT.
  • 31. COMPANIES WITH WORST REPUTATION
    • EXXON
    • K-MART
  • 32. VISION TRADITIONAL MEANING
    • HALLUCINATION
    • SOMETHING SEEN DURING HALLUCINATION
    • THE POWER TO ANTICIPATE FUTURE EVENTS
  • 33. VISIONARY
    • A PERSON WHO HALLUCINATES
    • A PERSON WHO IS GIVEN TO FANCIFUL OR IMPRACTICAL IDEAS
    • A PERSON WHO IS GIVEN TO AUDACIOUS, SPECULATIVE IDEAS
  • 34. EXAMPLES OF VISIONAIRES HISTORICAL ONES
    • THE WRIGHT BROTHERS, 1903
    • PHILO FARNSWORTH, 1939
    • EDWIN LAND, 1947
    • JOHN F. KENNEDY, 1961
  • 35. VISIONARIES RECENT ONES
    • FRED SMITH
    • TED TURNER
    • SAM WALTON
    • MICHAEL DELL
  • 36. VISION
    • IT DESCRIBES WHAT THE COMPAY ASPIRES TO BECOME
  • 37. STARBUCKS MISSION OR VISION?
    • TO ESTABLISH STARBUCKS AS THE PREMIER PURVEYOR OF THE FINEST COFFEE IN THE WORLD WHILE MAINTAINING OUR UNCOMPROMISING PRINCIPLES AS WE GROW
  • 38. EXAMPLES OF VISION STATEEMENTS
    • GENERAL MOTORS:
    • OUR VISION FOR GM IS TO BE THE WORLD LEADER IN TRANSPORTATION PRODUCTS AND SERVICES, COMMITTED TO TOTAL CUSTOMER ENTHUSIASM THROUGH PEOPLE, TEAMWORK, TECHNOLOGY, AND CONTINUOUS IMPROVEMENT.
  • 39. GM VISION (CONT’D)
    • TO ACHIEVE OUR VISION, WE MUST GENERATE CUSTOMER ENTHUSIASM IN THE MARKETPLACE THAT TRANSLATES INTO LEADERSHIP IN SALES, EARNINGS, AND RETURNS ON INVESTMENT AND ASSETS.
  • 40. VISION OF HOLY CROSS HOSPITAL
    • TO BECOME THE RECOGNIZED HEALTHCARE PROVIDER OF CHOICE WITHIN THE COMMUNITY BY ACHIEVING AN EXCEPTIONAL SERVICE, SUPERIOR QUALITY, LOW COST, AND CONVENIENT ACCESS. ,
  • 41. HOLY CROSS VISION (CONT’D)
    • WE WILL ACHIEVE THIS BY BRINGING PARTNERS, LEADERS, AND PHYSICIANS TOGETHER INTO A COHESIVE TEAM THAT IS COMMITTED TO OUR CORE VALUES OF SERVICE, EXCELLENCE, RESPECT, VALUE, AND ENTHUSIASM.
  • 42. COMPONENTS OF A VISION STATEMENT
    • STATE WHAT YOUR COMPANY ASPIRES TO BECOME
    • IDENTIFY THE INTERNAL CONDITIONS (CORPORATE CULTURE) THAT WILL HELP IN IMPLEMENTING IT
  • 43. OBJECTIVE
    • AN EXPECTATION TARGET THAT IS BOTH MEASURABLE AND TIME BOUND.
  • 44. A GOOD OBJECTIVE
    • SPECIFIC
    • MEASURABLE
    • ATTAINABLE
    • RELEVANT
    • TIME BOUND
  • 45. STRETCH OBJECTIVES
    • THEY ARE OBJECTIVES THAT ARE PERCEIVED AS IMPOSSIBLE TO ACHIEVE
  • 46. STRETCH OBJECTIVES GENERAL ELECTRIC
    • INCREASE SALES FROM 13% TO 25%
    • MAKE RESOURCES AVAILABLE TO ADHIEVE THE OBJECTIVE
  • 47. STRETCH OBJECTIVES CITIBANK
    • ACHIEVERS VS. NON-ACHIEVERS
    • CONSEQUENCES
      • HUMILIATION
      • BURNOUT
      • TURNOVER
      • UNETHICAL BEHAVIOR
  • 48. GOAL
    • AN EXPECTATION TARGET THAT IS NEITHER MEASURABLE NOR BOUND BY A TIME HORIZON.
  • 49. GRAND STRATEGY
    • IT IS THE GENERAL PLAN OF ACTION TO ACHIEVE CORPORATE OBJECTIVES
    • EXAMPLES:
      • MARKET DEVELOPMENT
        • WAL- MART IN GERMANY
      • CONCENTRIC DIVERSIFICATION
        • PEPSICO: TROPICANA
        • COCA COLA: MINUTE MAID
  • 50. GRAND STRATEGY
    • HORIZONTAL INTEGRATION
      • L’OREAL AND MEBELINE
    • VERTICAL INTEGRATION
      • GENERAL MOTORS FORWARD AND BACKWARD INTGEGRATION
  • 51. GRAND STRATEGY
    • CONGLOMERATE DIVERSIFICATION
      • GE: MEDICAL SYSTEMS, AIRCRAFT ENGINES, POWER GENERATORS, LIGHTING, APPLIANCES, CAPITAL
      • DAEWOO: TRADING, SHIPBUILDING, CARS, TELECOMMUNICATIONS , DINERS CLUB…
      • AMOZON.COM:
  • 52. TACTICS
    • REFERS TO SHORT-TERM (DAY TO DAY OR MONTH TO MONTH) DECISIONS THAT ENABLE THE COMPANY TO ADAPT TO ENVIRONMENTAL CHANGES.
  • 53. COMPETITIVE STRATEGY
    • A COURSE OF ACTION INTENDED TO PROVIDE THE ORGANIZATION WITH A SUSTAINABLE COMPETITIVE ADVANTAGE.
  • 54. MICHAEL PORTER COMPETITIVE STRATEGIES
    • COST LEADERSHIP
      • DELL COMPUTERS.
    • PRODUCT DIFFERENTIATION
      • TOYOTA
    • FOCUS
      • DELIA
  • 55. WHICH STRATEGY IS THE MOST EFFECTIVE?
    • A COMBINATION STRATEGY
    • WAL-MART: COST LEADERSHIP AND CUSTOMER SERVICE
  • 56. SELECT SLOGANS
    • FORMULATE A STRATEGIC SLOGAN
    • FORMULATE A MARKETING SLOGAN
  • 57. STRATEGIC SLOGAN
    • A MOTTO THAT SUMS UP THE COMPANY’S CORPORATE CULTURE, ITS VISION, OR GRAND STRATEGY.
  • 58. EXAMPLES OF STRATEGIC SLOGANS
    • FORD: QUALITY IS JOB ONE
    • APPLE: THINK DIFFERENT
    • SOUTHWEST AIRLINES: A SYMBOL OF FREEDOM
    • HEWLETT PACKARD: INVENT
    • TOYOTO: THE RELENTLESS PURSUIT OF PERFECTION
  • 59. MARKETING SLOGAN
    • A MOTTO DESIGNED TO SELL A PRODUCT OR SERVICE.
  • 60. MARKETING SLOGAN EXAMPLES
    • PEPSI: THE JOY OF COLA
    • HOOVER: DEEP DOWN, YOU WANT HOOVER
    • BAYER ASPIRING: POWERFUL PAIN RELIEVER AND MORE
    • MCDONALD’S: DID SOMEBODY SAY MCDONALDS
    • MICROSOFT: WHERE DO YOU WANT TO GO TODAY?
  • 61. CORPORATE LEVEL (CONT’D)
    • STRATEGY IMPLEMENTATION
      • LEADERSHIP
      • MOTIVATION
      • COMMUNICATION
      • CORPORATE CULTURE
      • ORGANIZATIONAL STRUCTURE
      • POLICIES
      • BUDGETARY ALLOCATIONS
  • 62. CORPORATE CULTURE
    • A SET OF BEHAVIORS OR QUALITIES THAT ARE VALUED BY A GROUP.
    • DAIMLER/CHRYSLER
      • MERGING SPEED (NUKE IT OUT)
      • MEETINGS LENGTH
      • SMOKING
      • LUNCH BEVERAGE
      • ADDRESSING THE CEO
  • 63. THE FUNCTIONAL LEVEL MARKETING
    • PRODUCTS/SERVICES
    • MARKET SHARE
    • TARGET MARKET
    • SALES VOLUME
    • ADVERTISING AND PROMOTION
    • DISTRIBUTION
    • PRICING
  • 64. PRODUCTION
    • LOCATION OF FACILITIES
    • NEWSNESS OF FACILITIES
    • QUALITY CONTROL
    • PRODUCTION CAPACITY
    • INVENTORY
  • 65. HUMAN RESOURCES
    • RECRUITMENT
    • SELECTION
    • TRAINING AND DEVELOPMENT
    • COMPENSATION
    • PERFORMANCE APPRAISAL
    • SUCCESSION PLANNING
  • 66. FINANCE
    • MANAGEMENT OF CASH
    • MANAGEMENT OF INVENTORIES
    • MANAGEMENT OF ACCOUNTS RECEIVABLE
    • MANAGEMENT OF TOTAL ASSETS
    • GENERAL PROFIT PICTURE
  • 67. THE DIAGNOSTIC PHASE DIAGNOSE THE STRENGTHS AND WEAKNESSES
    • A STRENGTH IS A FAVORABLE CONDITION IN THE ORGANIZATION’S INTERNAL ENVIRONMENT.
    • A WEAKNESS IS AN UNFAVORABLE CONDITION IN THE ORGANIZATION’S INTERNAL ENVIRONMENT.
  • 68. STRENGTHS AND WEAKNESSE OF THE CORPORATE LEVEL
    • STREATEGIC MANAGERS:
      • BOARD OF DIRECTORS
      • TOP MANAGEMENT
    • STRATEGY FORMULATION:
      • MISSION, VISION, OBJECTIVES, GRAND STRATEGIES, COMPETITIVE STRATEGIES
  • 69. STRENGTHS AND WEAKNESSE OF THE CORPORATE LEVEL
    • STREATEGY IMPLEMENTATION:
      • SELECT TWO OF THE FOLLOWING: MOTIVATION, COMMUNICATION, CORP. CULTURE, STRUCTURE, POLICIES, BUDGET
  • 70. STRENGTHS AND WEAKNESSE OF THE FUNCTIONAL LEVEL
    • MARKETING
    • FINANCE
    • SELECT TWO OF:
      • PRODUCTION, R&D, HUMAN RESOURCES, PUBLIC AFFAIRS
  • 71. IDENTIFY THE DISTINCTIVE COMPETENCY
    • THAT ASPECT OF THE COMPANY’S OPERATIONS THAT GIVES IT A SUSTAINABLE ADVANTAGE OVER ITS COMPETITORS.
  • 72. DISTINCTIVE COMPETENCY EXAMPLES
    • SOUTHWEST AIRLINES
    • ENTERPRISE RENT A CAR
  • 73. DISTINCTIVE COMPETENCY TEST QUESTIONS
    • CAN IT BE EASILY COPIED BY THE COMPETITORS?
    • DOES IT OFFER ANY VALUE TO THE CUSTOMERS?
  • 74. CORE COMPETENCY
    • THE PRINCIPAL BUSINESS OF THE COMPANY
    • THE BUSINESS THAT THE COMPANY STARTED OUT WITH
    • CORE PRODUCTS, CORE MARKET, CORE CUSTOMERS
  • 75. IDENTIFY THE KEY WEAKNESS
    • THE KEY WEAKNESS IS ANY UNFAVORABLE CONDITION THAT CAN PLACE THE COMPANY AT A COMPETITIVE DISADVANTAGE OR DRIVE IT OUT OF BUSINESS.
  • 76. DIAGNOSE THE OPPORTUNITIES AND THREATS
    • AN OPPORTUNITY IS A FAVORABLE CONDITION IN THE EXTERNAL ENVIRONMENT.
    • A THREAT IS AN UNFAVORABLE CONDITION IN THE EXTERNAL ENVIRONMENT.
  • 77. OPPORTUNITIES/THREATS EXAMPLE
    • CHARLES SCHWAB VS. MERRILL LYNCH
    • E- COMMERCE AND HOME DEPOT
    • BREAKFAST CEREAL , BAGELS, AND MUFFINS
    • MIXED EFFECTS OF FORCES: FILEN’S BASEMENT
  • 78. DIAGNOSE THE OPPORTUNITIES AND THREATS
    • IDENIFY THE OPPORTUNITIES AND THREATS IN:
      • THE TASK ENVIRONMENT (INDUSTRY, COMPETITORS, CUSTOMERS …)
      • THE GENERAL ENVIRONMENT (ECONOMY, DEMOGRAPHICS, TECHNOLOGY …)
    • SELECT THE KEY OPPORTUNITY AND KEY THREAT
  • 79. DIAGNOSE THE PROBLEMS: DEFINITION OF TERMS
    • SYMPTOM
    • CAUSE
    • PROBLEM
  • 80. THE MEANING OF SYMPTOM AND CAUSE
    • A SYMPTOM IS A SIGN OR AN INDICATION OF THE EXISTENCE OF A PROBLEM
    • A CAUSE IS THE CONDITION THAT GIVES RISE TO THE SYMPTOM
  • 81. THE DIFFERENCE BETWEEN SYMPTOM AND CAUSE
    • A SYMPTOM IS AN INTERNAL WEAKNESS. A CAUSE CAN BE EITHER AN INTERNAL WEAKNESS OR AN EXTERNAL THREAT.
    • A SYMPTOM IS A DEPENDENT VARIABLE. A CAUSE IS AN INDEPENDENT VARIABLE
    • A SYMPTOM IS READILY KNOWN, A CAUSE IS NOT
  • 82. THE MEANING OF PROBLEM
    • A PROBLEM IS A GAP BETWEEN THE EXISTING CONDITIONS AND THE DESIRED CONDITIONS
  • 83. STATEMENT OF THE PROBLEM
    • A PROBLEM IS STATED IN TERMS OF AN INTERNAL COMPONENT WHERE THE SYMPTOM LIES
  • 84. STATEMENT OF THE PROBLEM
    • PROBLEM: FINANCE
      • SYMPTOM: DECLINING PROFITS
    • PROBLEM: HUMAN RESOURCES
      • SYMPTOM: HIGH TURNOVER
    • PROBLEM: R&D
      • SYMPTOM: LACK OF NEW PRODUCTS
    • PROBLEM: PRODUCTION:
      • EQUIPMENT BREAKDOWNS
  • 85. STATEMENT OF THE PROBLEM, SYMPTOM, AND CAUSES
    • PROBLEM: FINANCE
    • SYMPTOM: LOW PROFIT MARGIN
    • CAUSES:
      • DECLINING MARKET SHARE
      • POOR PRODUCT QUALITY
      • STIFF COMPETITION
      • LACK OF PRODUCT INNOVATION
  • 86. THE STRATEGIC MATCH
    • IT IS THE PROCESS OF ESTABLISHING LINKAGES BETWEEN THE INTERNAL STRENGTHS AND WEAKNESSES AND THE EXTERNAL OPPORTUNITIES AND THREATS
  • 87. DIMENSIONS OF STRATEGIC MATCH
    • LEVERAGE=STRENGTH AND OPPORTUNITY: HP, OFFICE DEPOT
    • CONSTRAINT=WEAKNESS AND OPPORTUNITY: POSTAL SERVICE
    • MAINTENANCE=STRENGTH AND THREAT: PIZZA HUT, E-BAY
    • VULNERABILITY=WEAKNESS AND THREAT: MONTGOMERY WARD, COM ED
  • 88. THE PRIMARY STRATEGIC MATCH POSITION
    • IT IS THE DIMENSION THAT MOST CLOSELY DESCRIBES THE COMPANY’S CONDITIONS.
  • 89. DETERMINING THE PRIMARY STRATEGIC MATCH POSITION
    • LOGIC/COMMON SENSE
    • PORTFOLIO PLANNING TOOLS
      • THE BOSTON CONSULTING GROUP MATRIX (BCG)
      • THE GE PLANNING GRID
  • 90. THE BCG MATRIX STAR DOG QUESTION MARK CASH COW MARKET SHARE MARKET GROWTH
  • 91. GE PLANNING GRID Business Strategy/ Competitive Position Industry Attractiveness
  • 92. BUSINESS STRENGTHS/ COMPETITIVE POSITION
    • SUCCESS FACTORS
      • MARKET SHARE
      • BREADTH OF PRODUCT LINE
      • DISTRIBUTION CHANNELS
      • PRICE COMPETITIVENESS
      • ADVERTISING EFFECTIVENESS
      • PRODUCT QUALITY
      • CUSTOMER SERVICE
  • 93. INDUSTRY ATTRACTIVENESS
    • EVALUATION CRITERIA
      • INDUSTRY GROWTH
      • INDUSTRY SIZE
      • INDUSTRY CYCLICALITY
      • INDUSTRY SEASONALITY
      • ENTRY AND EXIST BARRIERS
      • COMPETITORS
      • GOVERNMENT REGULATIONS
  • 94. GE PLANNING GRID Leverage Constraint Maintenance Vulnerability Business Strength/ Competitive Position Industry Attractiveness
  • 95. IDENTIFY THE DISTINCTIVE COMPETENCY AND MAJOR WEAKNESS OF THE KEY COMPETITOR
  • 96. FORMULATE A STRATGIC PLAN
    • WRITE A NEW MISSION STATEMENT
    • WRITE A NEW VISION STATEMENT
    • WRITE A VALUES STATEMENT
    • SET LONG AND SHORT-TERM OBJECTIVES
    • SELECT GRAND STRATEGIES
  • 97. FORMULATE A STRATEGIC PLAN
    • FORMULATE OPERATIONAL STRATEGIES
    • SELECT ONE STRATEGIC SLOGAN
    • SELECT ONE MARKETING SLOGAN
  • 98. WRITE A NEW MISSION STATEMENT
    • BUSINESS DOMAIN
    • PRODUCTS AND SERVICES
    • TARGET MARKET
    • DISTRIBUTION CHANNELS
  • 99. WITE A NEW VISION STATEMENT
    • WHAT DO YOU ASPIRE TO BECOME?
    • WHAT TYPE OF CORPORATE CULTURE WOULD YOU CREATE TO HELP YOU GET THERE?
  • 100. WRITE A VALUES STATEMENT
    • WHAT TYPE OF RESPONSIBILITIES DO YOU HAVE TOWARD YOUR MAJOR STAKEHOLDERS?
    • INCLUDE AT LEAST FOUR GROUPS OF STAKEHOLDERS
  • 101. CORPORATE OBJECTIVES
    • SET LONG -TERM CORPORATE OBJECTIVES
    • SET SHORT-TERM CORPORATE OBJECTIVES
  • 102. SELECT A GRAND STRATEGY
    • GENERATE STRATEGIC OPTIONS
    • GENERATE A SET OF EVALUATIVE CRITERIA: EXPANSION IN EUROPE, MERGER
    • APPLY THE CRITERIA TO THE STRATEGIC OPTIONS
    • CHOOSE THE MOST EFFECTIVE STRATEGY
  • 103. SELECT A COMPETITIVE STRATEGY
    • COST LEADERSHIP, PRODUCT DIFFERENTIAION, FOCUS
    • JUSTIFY YOUR SELECTION
  • 104. OPERATIONAL STRATEGY
    • A DETAILED PLAN OF ACTION FORMULATED TO ACHIEVE DEPARTMENTAL OBJECTIVES
  • 105. FORMULATE TWO OPERATIONAL STRATEGIES
    • AT LEAST ONE TO IMPLMENT THE GRAND STRATEGY
    • A SECOND TO SOLVE A PROBLEM OR REMOVE A WEAKNESS
    • OTHERS IF APPLICABLE
  • 106. STRUCTURE OF THE OPERATIONAL STRATEGY
    • LONG AND SHORT-TERM OBJECTIVES
    • SPECIFIC RECOMMENDATIONS CLASSIFIED BY SUBCOMPONENTS
    • TIME TABLE
    • COST
    • SAVINGS, IF ANY