Lezione di strategia aziendale

345 views

Published on

Published in: Business, Technology
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
345
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Lezione di strategia aziendale

  1. 1. University of Cagliari, Faculty of Economics, a.a. 2012-13Business Strategy and PolicyA course within the II level degree onManagerial Economicsyear II, semester I, 6 creditsLecturer:Dr Alberto Asqueraasquer@unica.itPhone: 070 6753399
  2. 2. Business Strategy and PolicyLecture 1Strategy and strategic management
  3. 3. Plan of this lecture0. Course outline- - - - - - - - - - - - - - - - - - - -1. What is strategy? And why does it matter?2. The process of strategic management3. How does a good strategy look like?- - - - - - - - - - - - -4. Summary
  4. 4. 0. Course outlineObjectives (What shall we achieve out of this course?)We will be able to analyze and solve complex problems of strategicmanagement.We will learn the main schools of thought on business strategy.We will learn to identify and decompose business strategy issues, andto search, assess, and select business strategies and policies.Prerequisites (What do we need to know for attending this course?)A good understanding of business administration, planning and control,and managerial economics.A good knowledge of microeconomics and industrial economics wouldbe an advantage.
  5. 5. 0. Course outlineTeaching Method (How shall we learn?)Lectures (8) and case studies (10).Time and place of lessons (When and where?)Lessons are scheduled:Wednesday from 15:00 to 17:00, Classroom 7Thursdays from 15:00 to 17:00, Classroom 7Office hours (Where can we meet you?)Office hours are scheduled Wednesdays and Thursdays, 17-18:00, inoffice No. 3, Viale Fra Ignazio, 84 (Economics Library)Or by appointment by email (aasquer@unica.it).
  6. 6. 0. Course outlineContents (What is the course about?)What is strategyHow do firms position themselves strategically within industriesHow do firms develop resources, competences, capabilitiesHow do firms strategically interact with each otherWhat is strategic entrepreneurshipWhy do firms diversify, and how do they do itHow do firms compete in international marketsWhy do firms make partnerships, strategic alliances, mergers andacquisitions.
  7. 7. 0. Course outlineContents (What is the course about?)What is strategyHow do firms position themselves strategically within industriesHow do firms develop resources, competences, capabilitiesHow do firms strategically interact with each otherWhat is strategic entrepreneurshipWhy do firms diversify, and how do they do itHow do firms compete in international marketsWhy do firms make partnerships, strategic alliances, mergers andacquisitions.+ 10 case studies!
  8. 8. 0. Course outlineReadings (Where shall we study?)A. Thompson A., A. J. Strickland, and J. E. Gamble (2010), Craftingand Executing Strategy: The Quest for Competitive Advantage.McGraw-Hill (International Edition).Or, in the Italian version:A. Thompson A., A. J. Strickland, and J. E. Gamble (2009), StrategiaAziendale: Formulazione ed Esecuzione. McGraw-Hill.Handouts and other materials.Check the web site of the course!http://www.econoca.it/did_docenti_materia_dett.asp?mat=49&id=1
  9. 9. 0. Course outlineCourse evaluation (How is the exam conducted?)Assessment is made on the basis of a written exam on any topiccovered in the course, including case studies.For students who attend the course, part of the evaluation is based onparticipation to lectures – in particular, by presenting a case studyon business strategy.The presentation of the case study is assigned on a voluntary basis,within the first two weeks of the course.The presentation of the case study will account for 30% of the finalmarks. Therefore, if the student attends the course and presents thecase study, the written exam will account for 70% of the finalmarks.
  10. 10. 0. Course outlineGeneral advice (How shall we study in this course?)First, pay attention to the theories and methods of analysis.Key concepts should be clearly understoodArgumentation should follow a clear logic and be coherentSecond, pay attention to the case studies.Case studies are representations of business episodesThey may look unstructured and complex – indeed, they call for efforts todevelop the capacity to look into complexity, frame problems, and identifysolutions
  11. 11. 0. Course outlineExamples of exam questions (May we have any?)Examples of exam questions are posted on the course web site soon.Exam timetable (When are the exams?)Exam dates will be posted on the course web site soon.
  12. 12. Business strategy and policy1. What is strategy? And why does it matter?2. The process of strategic management3. How does a good strategy look like?- - - - - - - - - - - - -4. Summary
  13. 13. 1. What is strategy? And does it matter?StrategyBroadly stated, it is an action plan that managers follow for runningthe business and conducting operations.As a coherent set of actions, strategy is oriented to achievingobjectives such as: growing the business, attracting and pleasingcustomers, competing successfully, conducting operations, andimproving the companys financial and market performance.Strategy is followed in order to attain“long-term super-normal profit”.
  14. 14. 1. What is strategy? And does it matter?Example: StarbucksThe management of Starbucks followed a plan:They expanded the number of stores domestically by targetingmetropolitan areas first, then the city perimeterThey made it a global brand by opening stores abroadThey conceived the store and store ambience as an advertisingdeviceThey gradually broadened in-store product offerings
  15. 15. 1. What is strategy? And does it matter?In part, strategy matters because it relates todesigning a successful business modelA business model is the rationale for why the companys approach tobusiness and strategy will be a moneymaker.A business model isa set of assumed circumstances of the environmentand behaviour of clients, suppliers, competitors, and regulators,that accounts for the growth of revenuesand the profitability of a business initiative.
  16. 16. 1. What is strategy? And does it matter?Example: the business model of GilletteAssumption about the environment: many people will likely keepappreciating shaved men;Assumption about behaviour of clients: many clients will likely keeptaking care of others consideration and self-image and keep spendingpart of their income on routinely shaving;The business model is:sell the razor at an attractively low price,and then make money on repeat purchase of razor blades.
  17. 17. 1. What is strategy? And does it matter?Note that many competitors may follow the same business modelGillette launches the3-blades razor in 1998Wilkinson Sword launches the4-blades razor in 2003Gillette launches the5-blades razor in 2006
  18. 18. 1. What is strategy? And does it matter?Strategy matters especially because it relates tooutperforming competitorsFirms aim to achieve a sustainable competitive advantage, i.e., anenduring capacity to attract buyers with respect to competitorsHow do firms do it?By providing goods or services at lower price than competitorsBy providing better goods or services – more quality, bettertechnology, more additional services, more stylish design, fasterdelivery, etc.By focusing on serving the special needs and tastes of buyers in amarket nicheBy developing expertise and resources that provide capabilities that
  19. 19. 1. What is strategy? And does it matter?Example: Wal-Mart in the US198519751996The diffusion of Wal-Mart storesin the US (1975-1996)
  20. 20. 1. What is strategy? And does it matter?Example: Wal-Mart in the USCompare the network of large stores of Wal-Mart vs. Kmart in the US, in 1996
  21. 21. 2. The process of strategic managementDevelop astrategicvisionSet theobjectivesCraft thestrategyImplementand executethe strategyMonitor,evaluate,and makecorrectiveadjustmentsStrategy reviewStrategic management is a process
  22. 22. 2. The process of strategic managementDevelop astrategicvisionSet theobjectivesCraft thestrategyImplementand executethe strategyMonitor,evaluate,and makecorrectiveadjustmentsStrategy reviewStrategic management is a processStrategy formulation Strategy implementation
  23. 23. 2. The process of strategic managementDevelop astrategicvisionSet theobjectivesCraft thestrategyImplementand executethe strategyMonitor,evaluate,and makecorrectiveadjustmentsStrategy reviewStrategic management is a processOften tacit Generally explicit
  24. 24. 2. The process of strategic managementDevelop astrategicvisionSet theobjectivesCraft thestrategyImplementand executethe strategyMonitor,evaluate,and makecorrectiveadjustmentsStrategy reviewStrategic management is a processDriven by creativityDriven by review and analysis
  25. 25. 3. How does a good strategy look like?The kernel (essence) of a successful strategyIt should contain:(1) a diagnosis that defines or explains the nature of the challenge,(2) a guiding-policy for dealing with the challenge, and(3) a set of coherent actions that are designed to carry out the guidingpolicy.
  26. 26. 4. SummaryStrategy is managements action plan for running the business andconducting operations (but note that there are many definitions of what“strategy” is).Strategy is important because it relates to the design of the businessmodel and to outperforming competitors, i.e., attaining a sustainedcompetitive advantage.Strategic management is a process made of different stages.A good strategy contains a diagnosis of the challenge, a guiding policy,and a set of coherent actions.

×