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Overview of strategy formulation
 

Overview of strategy formulation

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This is overview of Strategic Management.

This is overview of Strategic Management.

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  • Mahalaga po ang paper process sa industry – it controls, it directs, it stores data, and among others. However, on doing strategic management, hinde porket nakamemo na ang utos, let say the new objective of the company ee hanggan doon na lamang. We should still observe kung ano at paano at ating gagawin para mameet ang objective na un. Mas madami dapat ang gawa if you are making strategies. <br />
  • According to Ergonomics, habang dumadami ung ginagawa ng ating isang sense, mas lalo tayo nagkakamali. Ganun din sa strategies, numero uno advantage nyan is budget, second we do not know what strategy should be focused. Thus it creates more and more mistakes. <br />

Overview of strategy formulation Overview of strategy formulation Presentation Transcript

  • Stages of Strategic Management
  • The strategic-management process consists of three stages: • Strategy formulation • Strategy implementation • Strategy evaluation
  • Strategy Formulation
  • Vision defines where we are going.
  • Mission defines who we are and what we are doing.
  • Vision will be just a dream without mission. And mission will be just a waste without a vision.
  • External Opportunities and Threats
  • Economy
  • Social
  • Cultural Factors
  • Demographic
  • Environmental
  • Political
  • Legal
  • Governmental
  • Technological Trends
  • Competitive Trends
  • Strategic management is all about gaining and maintaining competitive advantage.
  • Your organization has something that anyone does not have
  • Competitive Advantage • Windows bought Nokia • Smart bought Sun Cellular • Smart bought Araneta Coliseum • MOA Stadium
  • Internal Strengths and Weaknesses
  • • Management • Marketing • Finance/Accounting • Production/Operations • Research and Development • Management Information Systems
  • People
  • Machines/ Equipment
  • Land and Buildings
  • Consumption of Energy
  • M A T E R I A L S
  • Money
  • What will happen to our organization if we cannot adapt?
  • Long – Term Objectives
  • It should be SMART
  • Difference between Objectives and Mission/Vision • Objectives are different per department. • Objectives are different per day and per year. • Objectives are guided by the mission and vision. • Objectives are usually from two to five years.
  • Alternative Strategies
  • Strategy Formulation includes: • Developing a vision and mission • Identifying an organization’s external opportunities and threats • Determining internal strengths and weaknesses • Establishing long-term objectives • Generating alternative strategies
  • Case Study The six broadcast networks—ABC, CBS, Fox, NBC, UPN, and WB—are being assaulted by cable channels, video games, broadband, wireless technologies, satellite radio, high-definition TV, and digital video recorders. The three original broadcast networks captured about 90 percent of the prime-time audience in 1978, but today their combined market share is less than 50 percent.
  • The strategic-management process consists of three stages: • Strategy formulation • Strategy implementation • Strategy evaluation
  • The ACTION STAGE of Strategic Management
  • Implementing strategy means mobilizing your MACHINES, EQUIPMENT, MATERIALS, FACILITIES, MONEY, and PEOPLE.
  • Often considered to be the MOST DIFFICULT STAGE in strategic management.
  • Strategy Implementation needs ABILITY and ATTITUDE.
  • The strategic-management process consists of three stages: • Strategy formulation • Strategy implementation • Strategy evaluation
  • Strategy Evaluation
  • Because SUCCESS today is no guarantee of SUCCESS tomorrow!
  • Knowing WHAT, WHEN, WHERE, and WHY particular strategies are not working
  • All strategies are subject to future modification because EXTERNAL AND INTERNAL FACTORS are CONSTANTLY CHANGING.
  • Stages in Strategic Management
  • Stages in Strategic Management • Where are we now? • Where do we want to go? • How are we going to get
  • Benefits of Strategic Management
  • Strategic management allows an organization to be more proactive than reactive in shaping its own future.
  • To help organizations formulate better strategies through the use of a more systematic, logical, and rational approach to strategic choice.
  • Seventeen Guidelines for the Strategic-Planning Process to Be Effective
  • It should be a people process more than a paper process.
  • It should be a learning process for all managers and employees.
  • It should be words supported by numbers rather than numbers supported by words.
  • It should be simple and nonroutine.
  • It should vary assignments, team memberships, meeting formats, and even the planning calendar.
  • It should challenge the assumptions underlying the current corporate strategy.
  • It should welcome bad news.
  • It should welcome open-mindedness and a spirit of inquiry and learning.
  • It should not be a bureaucratic mechanism.
  • It should not become ritualistic, stilted, or orchestrated.
  • It should not be too formal, predictable, or rigid.
  • It should not contain jargon or arcane planning language.
  • It should not be a formal system for control.
  • It should not disregard qualitative information.
  • It should not be controlled by “technicians.”
  • Do not pursue too many strategies at once.
  • Continually strengthen the “good ethics is good business” policy.