Strategic Management

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  • 1. Strategic Management: Creating Competitive Advantages Presented By: Pushkin Srivastava Hardik Mehrotra Ankit Shukla Vaibhav Pandey Surya Pratap Kumar Pushkar
  • 2. Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives. Strategic Management – Defined
  • 3. Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection
  • 4. Strategy Implementation Annual Objectives Policies Employee Motivation Resource Allocation
  • 5. Strategy Evaluation Internal Review External Review Performance Metrics Corrective Actions
  • 6. 1. Adapting to change in external trends, internal capabilities and resources Achieving Sustained Competitive Advantage 2. Effectively formulating, implementing & evaluating strategies
  • 7. • What kind of business should we become? • Are we in the right fields • Are there new competitors • What strategies should we pursue? • How are our customers changing? Adapting to Change – Key Strategic Management Questions
  • 8. Vision Statement – What do we want to become? Mission Statement – What is our business? Key Terms
  • 9. Opportunities & Threats (External) Key Terms Analysis of Trends: • Economic • Social • Cultural • Demographic/Environmental • Political, Legal, Governmental • Technological • Competitors
  • 10. Strengths & Weaknesses (Internal) Key Terms Typically located in functional areas of the firm • Management • Marketing • Finance/Accounting • Production/Operations • Research & Development • Computer Information Systems
  • 11. Means by which long-term objectives are achieved Key Terms Strategies
  • 12. Benefits of Strategic Management Financial Benefits • Improvement in sales • Improvement in profitability • Productivity improvement
  • 13. Benefits of Strategic Management Non-Financial Benefits • Improved understanding of competitors strategies • Enhanced awareness of threats • Reduced resistance to change • Enhanced problem-prevention capabilities
  • 14. Thank You