01introduction Strategy

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01introduction Strategy

  1. 1. Introducing Strategy
  2. 2. Learning Outcomes (1) Understand the characteristics of strategic decisions and what is meant by strategy and strategic management, distinguishing them from operational management Understand how strategic priorities vary by level: corporate, business, and operational Understand the basic vocabulary of strategy 1-2
  3. 3. Learning Outcomes (2) Understand the key elements of the Business strategy in strategic management model 1-3
  4. 4. What is Strategy? Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations. 1-4
  5. 5. Characteristics of Strategic Decisions Long-term direction Scope of an organisation’s activities Competitive advantage Strategic fit with business environment Organisation resources and competences Values and expectations of power players 1-5
  6. 6. Implications of Strategic Decisions Complexity Integration Uncertainty Relationships and networks Operational decisions Change 1-6
  7. 7. Levels of Strategy Corporate- Long term growth level options strategy One-year strategy Business-level based on strategy budget provided Day-to-day Operational strategy operational strategy 1-7
  8. 8. Exercise Use a company of your choice, explain the different levels of decision making (Strategy) in the company 1-8
  9. 9. What is a Strategic Business Unit? A strategic business unit (SBU) is a part of an organisation for which there is a distinct external market for goods or services that is different from another SBU. 1-9
  10. 10. Vocabulary of Strategy Mission Strategic capability Vision Strategies Goal Business model Objective Control 1-10
  11. 11. Vocabulary of Strategy: Nokia Vision/Mission Connecting is about helping people feel close to what matters. Wherever, whenever, Nokia believes in communicating, sharing, and in the awesome potential in connecting the 2 billion who do with the 4 billion who don’t. 1-11
  12. 12. Vocabulary of Strategy: Kingston University Mission To promote participation in higher education, which it regards as a democratic entitlement; to strive for excellence in learning, teaching, and research; to realise the creative potential and fire the imagination of all its members; and to equip its students to make effective contributions to society and the economy. 1-12
  13. 13. 1-13
  14. 14. Context of strategy 1-14
  15. 15. Exercise  Define the context of business strategy of a company of your choice 1-15
  16. 16. Strategic management model Strategy formulation Strategic planning Strategy evaluation and selection Strategy implementation 1-16

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