Strategic Management Chapter 2

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Strategic Management Chapter 2

  1. 1. CHAPTER 1 BUSINESS POLICY & STRATEGIC MANAGEMENT MANAGEMENT Influence Process To make things happen To gain command over phenomena To induce and direct events and people
  2. 2. STRATEGY Scheme of corporate intent and action TO ACHIEVE Effectiveness Mobilise Resources Direct Effort and Behaviourhandle Events And Problems perceive and Utilise Opportunities Meet Challenges And Threats
  3. 3. CHARACTERISTICS OF CORPORATE STRATEGY • long-range in nature • action oriented and is more specific than objectives • multipronged and integrated • flexible and dynamic • formulated at the top management level • meant to cope with a competitive and complex setting • flows out of the goals and objectives • perceiving opportunities and threats and seizing initiatives to cope with them • deployment of limited organizational resources in the best possible manner • combination, sequence, timing, direction and depth of various moves and action • unified criteria for managers in function of decision making
  4. 4. COMPETITIVE STRATEGY Company strength & weakness Industry opportunities and Threats Factors internal to the company Personal value of the key implementers Context in which competitive strategy is formulated Broader societal expectation Factors external to the company DYNAMICS OF COMPETITIVE STRATEGY
  5. 5. Collection Of Ongoing Activities And Processes Systematically Coordinate And Align Resources and Actions with Mission, Vision and Strategy STRATEGIC MANAGEMENT
  6. 6. FRAMEWORK OF STRATEGIC MANAGEMENT
  7. 7. IMPORTANCE OF STRATEGIC MANAGEMENT Clarity in objective & direction Decision Making Offsetting Uncertainty Path finder Increased Organisational Effectiveness
  8. 8. STRATEGIC DECISION MAKING Managerial process Choosing Course of Action accomplishment of the organizational goals
  9. 9. VISION
  10. 10. CORPORATE LEVEL BUSINESS LEVEL FUNCTIONAL LEVEL STRATEGIC LEVELS IN ORGANISATIONS

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