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Strategic management
- 1. Strategic Management Sohail Ahmad 2969-FBAS/BSSE/F15 C Hamza Khan 2905-FBAS/BSSE/F15 C Usman Hidayat Khan 2906-FBAS/BSSE/F15 C
- 2. Contents • What is Strategy ? • What is Strategic Management ? • Process of Strategy creation • PESTLE • Strategic management process • SWOT analysis
- 3. What is Strategy? Strategy is the direction of an organization over the long term: • Which achieves advantage for the organization through its alignment of resources within a challenging environment. • To meet the needs of markets and to fulfill stakeholder expectations.
- 5. What is Strategic Management ? It is the managerial process that focusses on identifying and building competitive advantage By Generating good idea and implementing them effectively.
- 7. • Mission • Target Market • Objectives/Goals • Vision Process of Strategy Creation
- 8. • What is the purpose of your business? (Mission) • Who are your customer? (Target Market) • What would you like to achieve in short term? (Objectives) • What do you want your business to become in the long term? (Vision)
- 9. PESTLE • Political • Economic • Social • Technological • Legal • Environment
- 10. • What is the purpose of your business? (Mission) • To provide Fun-Filled travel experiences for people • Who are your customer? (Target Market) • Businesses, Professionals & Kids • What would you like to achieve in short term? (Objectives) • Earn Money $1M in the next 6 months • What do you want your business to become in the long term? (Vison) • World wide Org. with top quality travel options
- 12. Objectives • The things a firm needs to ‘do’ to achieve its mission • Specific measurable target Strategic Management Process
- 13. External Analysis Internal Analysis • Political • Interest rate • Social trend • Technology External & Internal Analysis • Human resources (Knowledge) • Manufacturing abilities • Technology Strategic Management Process
- 14. Strategic Choice Strategic Management Process Internal Analysis External Analysis
- 15. Strategic Implementation • How strategies are carried out • Who will do what • Who report to whom • Who does the firm hire, promote, pay, etc. Strategic Management Process
- 16. SWOT Analysis • Strength • Weaknesses • Opportunities • Threats
- 17. Strengths are the qualities that enable us to accomplish the organization’s mission.These are the basis on which continued success can be made and continued/sustained. Strengths SWOT Analysis
- 18. Weaknesses are the qualities that prevent us from accomplishing our mission and achieving our full potential.These weaknesses deteriorate influences on the organizational success and growth Weaknesses SWOT Analysis
- 19. Opportunities are presented by the environment within which our organization operates.These arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. Opportunities SWOT Analysis
- 20. Threats arise when conditions in external environment jeopardize the reliability and profitability of the organization’s business.They compound the vulnerability when they relate to the weaknesses. Threats SWOT Analysis