Management strategy tips for small business owners. Management strategy outline for the small business. How to implement a management strategy and what it consists of.

1. www.inboundoutboundmarketing.com2013 IO Marketing – Proprietary and Confidential

2. Roadmap
 The strategic management process
 Mission and vision statements
 Analyzing strategic drivers and core competencies
 SWOT analysis
 Scenario planning
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3. The Strategic Management Process
 Define the business and its mission.
 Perform external and internal audits.
 Translate the mission into strategic goals.
 Generate and select strategies to reach strategic
goals.
 Implement the strategy.
 Evaluate performance.
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4. A Comprehensive Strategic-Management Model
2013 IO Marketing – Proprietary and Confidential

5. Vision and Mission
A vision statement tells people
Where we want to go
What we want to become
What we want to accomplish
Why it is important
And a mission expresses the organization’s:
Purpose - the needs we exist to address
Business - what are we doing to address these
Values - what principles or beliefs guide our work

6. Examples of Mission Statements
CORPORATION OF DADE
To provide information services in local-exchange and exchange-ac
APEX ELEVATOR
To provide a high-reliability, error-free method for moving people and
products up, down, and sideways within a building
To provide information services in local-exchange and exchange-
access markets within its franchised area, as well as cellular phone
and paging. services.
JOSEPHSON DRUG COMPANY, INC.
To provide people with longer lives and higher-quality lives by
applying research efforts to develop new or improved drugs and
health-care products.
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7. Strategy Types
 Corporate
 Concentration
 Vertical integration
 Diversification
 Status quo
 Investment reduction
 Strategic alliances/joint ventures
 Competitive
 Cost leadership
 Differentiation
 Focus
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8. Forces Driving Industry Competition
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9. Examples of a Company’s Strengths, Weaknesses,
Opportunities, and Threats
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10. How to Test the Quality of Your
Strategy
 Does your strategy fit with what’s going on in the
environment?
 Does your strategy exploit your key resources?
 Will competitors have difficulty keeping up with you?
 Are the elements of your strategy internally
consistent?
 Do you have enough resources to pursue this
strategy?
 Can your strategy be implemented?
2013 IO Marketing – Proprietary and Confidential

11. Strategy Types
Corporate
Concentration
Vertical integration
Diversification
Status quo
Investment reduction
Strategic alliances/joint ventures
Competitive
Cost leadership
Differentiation
Focus
2013 IO Marketing – Proprietary and Confidential

12. How to Benchmark
 as pricing, and don’t look for new product
information.
 Keep information you receive confidential.
 Focus on a specific problem and define it carefully
 Use employees who will actually implement
changes to identify the best-practices companies
and to conduct on-site studies.
 Be willing to share information with others.
 Avoid sensitive issues such
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13. BCG Matrix
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14. Scenario Planning Principles
 Scenarios have value only to the extent that they inform
decision makers and influence decision making.
 Scenarios add value to decision making only when
managers and others use them to systematically shape
questions about the present and the future, and to guide
how to go about answering them.
 In each step of developing scenarios, the emphasis must
be on identifying, challenging, and refining the substance
of managers’ mindsets and knowledge.
2013 IO Marketing – Proprietary and Confidential