Lipu Sm

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Lipu Sm

  1. 1. The Nature of Strategic Management presented by- Tareni prasad
  2. 2. <ul><li>Art & science of formulating , implementing , and evaluating , cross-functional decisions that enable an organization to achieve its objectives. </li></ul>Strategic Management – Defined
  3. 3. Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection
  4. 4. Strategy Implementation Annual Objectives Policies Employee Motivation Resource Allocation
  5. 5. Strategy Evaluation Internal Review External Review Performance Metrics Corrective Actions
  6. 6. <ul><li>Vision Statement – </li></ul><ul><li>What do we want to become? </li></ul><ul><li>Mission Statement – </li></ul><ul><li>What is our business? </li></ul>Key Terms
  7. 7. <ul><li>Opportunities & Threats (External) </li></ul>Key Terms <ul><li>Analysis of Trends: </li></ul><ul><ul><li>Economic </li></ul></ul><ul><ul><li>Social </li></ul></ul><ul><ul><li>Cultural </li></ul></ul><ul><ul><li>Demographic/Environmental </li></ul></ul><ul><ul><li>Political, Legal, Governmental </li></ul></ul><ul><ul><li>Technological </li></ul></ul><ul><ul><li>Competitors </li></ul></ul>
  8. 8. <ul><li>Strengths & Weaknesses (Internal) </li></ul>Key Terms <ul><li>Typically located in functional areas of the firm </li></ul><ul><ul><li>Management </li></ul></ul><ul><ul><li>Marketing </li></ul></ul><ul><ul><li>Finance/Accounting </li></ul></ul><ul><ul><li>Production/Operations </li></ul></ul><ul><ul><li>Research & Development </li></ul></ul><ul><ul><li>Computer Information Systems </li></ul></ul>
  9. 9. THANK YOU

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