This document provides an overview of strategic management concepts. It introduces the strategic management process, which includes developing a vision and mission, analyzing external and internal environments, setting long-term objectives, generating strategies, implementing strategies, and evaluating performance. Key terms like competitive advantage, strategies, and annual objectives are also defined. The benefits of strategic management and a comprehensive strategic management model incorporating all the steps are discussed.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It includes analyzing external opportunities and threats as well as internal strengths and weaknesses. The strategic management process then formulates long-term objectives and strategies, implements those strategies, and evaluates performance. Effective strategic management can provide competitive advantage and benefits such as improved performance and coordination.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It integrates various business functions to achieve success. A strategic plan is like a game plan that allows companies to compete successfully despite narrow profit margins. The stages of strategic management are strategy formulation, implementation, and evaluation. Strategy formulation develops visions and strategies. Implementation puts strategies into action. Evaluation reviews strategies and makes corrections. Strategic management adapts organizations to internal and external changes through this process.
This document provides an overview of the Strategic Management and Corporate Maritime Strategies course taught by Mohammed Mojahid Hossain Chowdhury at Bangabandhu Sheikh Mujibur Rahman Maritime University in Bangladesh. The course materials include lectures, case studies, seminars, guest lectures, and videos. Student performance will be evaluated based on exams, assignments, presentations, reports, and quizzes. The document also shares examples of strategic management concepts like intended strategy, emergent strategy, realized strategy, and different levels of strategy.
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
The document outlines the strategic management process in 6 steps: conducting external and internal analysis, formulating strategies, implementing strategies, and evaluating results. It also discusses types of organizational strategies including corporate growth strategies like diversification. Business-level strategies aim to achieve competitive advantage through differentiation, cost leadership, or focus. Porter's five forces model analyzes industry competition.
This document outlines a lecture on strategic management. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The lecture covers key topics such as the stages of strategic management (formulation, implementation, evaluation), key terms, benefits, and pitfalls. It also provides examples and discusses strategic management models.
This document provides an overview of strategic management. It discusses the comprehensive strategic management model, which involves external and internal audits to develop long-term objectives and strategies. The key stages are strategy formulation, implementation, and evaluation. Strategic management aims to integrate different business functions to achieve organizational success. It can provide benefits such as identifying opportunities and improving coordination. The document also discusses factors like business ethics, global competition, and the advantages and disadvantages of international operations.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It includes analyzing external opportunities and threats as well as internal strengths and weaknesses. The strategic management process then formulates long-term objectives and strategies, implements those strategies, and evaluates performance. Effective strategic management can provide competitive advantage and benefits such as improved performance and coordination.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It integrates various business functions to achieve success. A strategic plan is like a game plan that allows companies to compete successfully despite narrow profit margins. The stages of strategic management are strategy formulation, implementation, and evaluation. Strategy formulation develops visions and strategies. Implementation puts strategies into action. Evaluation reviews strategies and makes corrections. Strategic management adapts organizations to internal and external changes through this process.
This document provides an overview of the Strategic Management and Corporate Maritime Strategies course taught by Mohammed Mojahid Hossain Chowdhury at Bangabandhu Sheikh Mujibur Rahman Maritime University in Bangladesh. The course materials include lectures, case studies, seminars, guest lectures, and videos. Student performance will be evaluated based on exams, assignments, presentations, reports, and quizzes. The document also shares examples of strategic management concepts like intended strategy, emergent strategy, realized strategy, and different levels of strategy.
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
The document outlines the strategic management process in 6 steps: conducting external and internal analysis, formulating strategies, implementing strategies, and evaluating results. It also discusses types of organizational strategies including corporate growth strategies like diversification. Business-level strategies aim to achieve competitive advantage through differentiation, cost leadership, or focus. Porter's five forces model analyzes industry competition.
This document outlines a lecture on strategic management. It defines strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The lecture covers key topics such as the stages of strategic management (formulation, implementation, evaluation), key terms, benefits, and pitfalls. It also provides examples and discusses strategic management models.
This document provides an overview of strategic management. It discusses the comprehensive strategic management model, which involves external and internal audits to develop long-term objectives and strategies. The key stages are strategy formulation, implementation, and evaluation. Strategic management aims to integrate different business functions to achieve organizational success. It can provide benefits such as identifying opportunities and improving coordination. The document also discusses factors like business ethics, global competition, and the advantages and disadvantages of international operations.
Importance of Strategic Management to SME's VersatileCFO
This Presentation will be eye opener to the SME's to know the importance of Strategic Management and how to use it to better their business prospect.
Make it viral. Learn and share
This document provides an introduction to strategic management. It defines strategic management as the process of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The key steps in strategic management are environmental analysis, establishing organizational direction through a mission and objectives, strategy formulation, strategy implementation, and strategic control. The benefits of strategic management include taking a proactive approach to shaping the future, formulating better strategies through a systematic process, and improved financial and non-financial performance.
This document provides an overview of key concepts in strategic management including definitions of strategic planning, management control, and operational control. It also discusses mission and vision statements, goal setting, gap analysis, strategic choice, and performance measurement. Multinational strategies and issues are briefly covered along with benchmarking, the product lifecycle, and sources of risk and uncertainty.
An overview of strategic management.ppsx11richamandla
Strategic management involves establishing organizational goals, analyzing the internal and external environment, formulating strategies to achieve goals, implementing strategies, and evaluating performance. It occurs at three levels - corporate, business unit, and functional. Corporate strategy defines the businesses the company will compete in, business strategy defines how it will compete in each business, and functional strategy defines how each department will contribute. Strategic management is an ongoing, cyclical process that orients the entire organization towards achieving its mission.
This document outlines a lecture on strategic management and strategy execution. It discusses the transition from strategy formulation to implementation, explaining that implementation requires operational changes and coordination. Annual objectives and clear policies are essential to effective implementation by establishing priorities, boundaries, and accountability. Resource allocation and managing conflicts between organizational units are also part of implementation. The lecture notes that an organization's structure should match its strategy to facilitate objective-setting and resource distribution. Finally, production, operations, and human resource issues are strategic considerations for successful implementation.
1 introduction- concepts in strategic management.Naganandini Devi
Strategic management involves 4 key processes: 1) environmental scanning to analyze internal/external factors, 2) strategy formulation to develop long-term plans, 3) strategy implementation through programs/budgets, and 4) evaluation and control to assess performance and make adjustments. These cyclical processes integrate functions like marketing, finance, and HR to help organizations adapt to changing environments and gain competitive advantages.
The document discusses the concept of strategy, its origins and evolution. It provides definitions of strategy from various sources and outlines some key points:
- Strategy originates from the Greek word "Strategia" meaning generalship and refers to leading an army. The earliest known work on strategy is Sun Tzu's The Art of War from 500 BC.
- Strategy involves determining long-term goals and objectives, and developing courses of action to achieve these goals. It provides coherence and direction to organizational actions.
- Strategic management has evolved with changes in the industrial environment and now demands that firms be future-oriented, able to respond to opportunities and threats, and build competitive advantages.
- The strategic management
Training Slides of Strategic Management Course, discussing how leadership should taken plan in strategic planning & management to enhance sustainability development of a company.
Some keypoints:
- Strategic Management Process
- Effective Communication
- Highly Effective Leaders & Managers
For further information regarding the course, please contact:
info@asia-masters.com
Strategic decisions are made by top management, are future-oriented, require significant resources, and have long-term impacts on an organization. They are difficult to define, rarely have a single best solution, and involve trade-offs. Managers use both rational and behavioral models in decision-making. The rational model assumes complete information and logical evaluation of alternatives, while the behavioral model recognizes limitations in information, bounded rationality, satisficing, intuition and escalation of commitment.
Scott droney - strategic planning and strategic managementScott Droney
Scott Droney is provide financial services spectrum as well as data processing and managing segments. Since most of its financial services were retail focused, the need to build scale and skill in the transaction processing domain became imperative.
This lecture discusses strategy evaluation and monitoring. It covers the strategy evaluation process, criteria, methods, and the three main activities of strategy evaluation: reviewing strategic bases, measuring performance, and taking corrective actions. Specific evaluation tools covered include the balanced scorecard and auditing. Challenges discussed include whether strategic management is more art or science, whether strategies should be visible or hidden, and whether strategies are developed top-down or bottom-up. Guidelines for effective strategic management are also provided.
This document provides an overview of strategic management concepts. It defines strategy as a comprehensive action plan that guides resource utilization to accomplish organizational goals. The strategic management process involves formulating strategies to achieve long-term goals, implementing those strategies, and evaluating performance. Key aspects of the process include environmental scanning, strategy formulation through establishing objectives and policies, strategy implementation via programs and budgets, and strategic evaluation and control.
The document discusses key concepts in strategic management including defining strategic management, the strategic management process, and terminology used. It outlines the three main stages of strategic management as strategy formulation, implementation, and evaluation. It also discusses benefits and pitfalls to consider in strategic planning.
The document outlines the strategic management process, which consists of 5 key tasks: [1] Developing a strategic vision and mission, [2] Setting objectives, [3] Crafting a strategy, [4] Implementing and executing the strategy, and [5] Evaluating performance and initiating corrective adjustments. It emphasizes that strategy involves managerial choices to achieve organizational goals and compete successfully. Effective strategic management requires continuously monitoring performance, the external environment, and making adjustments to the strategy as needed.
The document outlines the 9 steps of the strategic management process: 1) Develop a clear vision and mission statement, 2) Assess strengths and weaknesses, 3) Scan for opportunities and threats, 4) Identify key success factors, 5) Analyze competition, 6) Create goals and objectives, 7) Formulate strategies, 8) Translate plans into action, 9) Establish controls. It provides details on developing a vision and mission statement to guide the company and communicating it effectively. It also discusses analyzing the internal/external environment, competition, and key success factors to craft strategic plans and maintain a competitive advantage.
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
The document defines strategy as a unified, comprehensive, and integrated plan that relates a firm's strategic advantages to environmental challenges to ensure objectives are achieved. It also defines strategy as an organization's pattern of response to the environment over time to achieve goals and mission. Strategy blends internal and external factors and combines actions to meet conditions, solve problems, or achieve ends. The document discusses levels of strategy including corporate, business, functional, and operating strategy and different approaches to strategic decision making such as the chief architect, delegation, collaborative, and corporate intrapreneur approaches.
Human Resource Management - G.O.L TEAM by Mr. Sherif Osman Mostafa Mahmoud
This document provides an overview of strategic management concepts including:
- The five steps of strategic management: developing a vision/mission, setting objectives, creating a strategy, implementing strategy, and evaluating performance.
- Models of strategic management including strategic formulation, implementation, and evaluation.
- The three levels of strategy: corporate, business, and functional.
- Tools for strategic management like SWOT analysis and the balanced scorecard.
- Types of organizational structures and leadership styles to support different strategies.
This document provides an introduction to strategy and strategic management. It defines strategy as the long-term direction of an organization, and discusses how all organizations formulate strategies. Strategic decisions address changes in the business environment and gain competitive advantage. Strategic planning involves analyzing the environment, choosing strategies, and taking strategic action. The document outlines various components of strategic management including objectives, vision, mission, values, and competitive advantage. It also discusses guidelines for effective strategic plans and criteria for evaluating strategies.
This document discusses different approaches to strategic decision making. It describes rational, intuitive, political, administrative, entrepreneurial, adaptive, and planning approaches. The rational approach involves analyzing all alternatives and consequences to maximize gains. The intuitive approach relies on experience, instincts, and gut feelings. The political approach considers pressures from stakeholders. The administrative approach recognizes limitations of information and rationality, aiming to satisfice rather than optimize. The entrepreneurial approach is reactive to opportunities. The adaptive approach solves urgent problems. The planning approach anticipates the future through formal analysis of internal and external factors.
The document discusses a company's internal environment and resources. It covers topics like tangible and intangible resources, capabilities, core competencies, value chain analysis, outsourcing, and preventing rigidities. The goal is to understand a company's unique resources and capabilities in order to develop a strategy that exploits them and leads to competitive advantage and above-average returns.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. It includes developing a mission, objectives, and strategies. The strategic management process consists of strategy formulation, implementation, evaluation, and monitoring environmental changes to enable adaptation. Effective strategic planning is an ongoing learning process that challenges assumptions, welcomes diverse perspectives, and strengthens ethical business practices.
Importance of Strategic Management to SME's VersatileCFO
This Presentation will be eye opener to the SME's to know the importance of Strategic Management and how to use it to better their business prospect.
Make it viral. Learn and share
This document provides an introduction to strategic management. It defines strategic management as the process of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The key steps in strategic management are environmental analysis, establishing organizational direction through a mission and objectives, strategy formulation, strategy implementation, and strategic control. The benefits of strategic management include taking a proactive approach to shaping the future, formulating better strategies through a systematic process, and improved financial and non-financial performance.
This document provides an overview of key concepts in strategic management including definitions of strategic planning, management control, and operational control. It also discusses mission and vision statements, goal setting, gap analysis, strategic choice, and performance measurement. Multinational strategies and issues are briefly covered along with benchmarking, the product lifecycle, and sources of risk and uncertainty.
An overview of strategic management.ppsx11richamandla
Strategic management involves establishing organizational goals, analyzing the internal and external environment, formulating strategies to achieve goals, implementing strategies, and evaluating performance. It occurs at three levels - corporate, business unit, and functional. Corporate strategy defines the businesses the company will compete in, business strategy defines how it will compete in each business, and functional strategy defines how each department will contribute. Strategic management is an ongoing, cyclical process that orients the entire organization towards achieving its mission.
This document outlines a lecture on strategic management and strategy execution. It discusses the transition from strategy formulation to implementation, explaining that implementation requires operational changes and coordination. Annual objectives and clear policies are essential to effective implementation by establishing priorities, boundaries, and accountability. Resource allocation and managing conflicts between organizational units are also part of implementation. The lecture notes that an organization's structure should match its strategy to facilitate objective-setting and resource distribution. Finally, production, operations, and human resource issues are strategic considerations for successful implementation.
1 introduction- concepts in strategic management.Naganandini Devi
Strategic management involves 4 key processes: 1) environmental scanning to analyze internal/external factors, 2) strategy formulation to develop long-term plans, 3) strategy implementation through programs/budgets, and 4) evaluation and control to assess performance and make adjustments. These cyclical processes integrate functions like marketing, finance, and HR to help organizations adapt to changing environments and gain competitive advantages.
The document discusses the concept of strategy, its origins and evolution. It provides definitions of strategy from various sources and outlines some key points:
- Strategy originates from the Greek word "Strategia" meaning generalship and refers to leading an army. The earliest known work on strategy is Sun Tzu's The Art of War from 500 BC.
- Strategy involves determining long-term goals and objectives, and developing courses of action to achieve these goals. It provides coherence and direction to organizational actions.
- Strategic management has evolved with changes in the industrial environment and now demands that firms be future-oriented, able to respond to opportunities and threats, and build competitive advantages.
- The strategic management
Training Slides of Strategic Management Course, discussing how leadership should taken plan in strategic planning & management to enhance sustainability development of a company.
Some keypoints:
- Strategic Management Process
- Effective Communication
- Highly Effective Leaders & Managers
For further information regarding the course, please contact:
info@asia-masters.com
Strategic decisions are made by top management, are future-oriented, require significant resources, and have long-term impacts on an organization. They are difficult to define, rarely have a single best solution, and involve trade-offs. Managers use both rational and behavioral models in decision-making. The rational model assumes complete information and logical evaluation of alternatives, while the behavioral model recognizes limitations in information, bounded rationality, satisficing, intuition and escalation of commitment.
Scott droney - strategic planning and strategic managementScott Droney
Scott Droney is provide financial services spectrum as well as data processing and managing segments. Since most of its financial services were retail focused, the need to build scale and skill in the transaction processing domain became imperative.
This lecture discusses strategy evaluation and monitoring. It covers the strategy evaluation process, criteria, methods, and the three main activities of strategy evaluation: reviewing strategic bases, measuring performance, and taking corrective actions. Specific evaluation tools covered include the balanced scorecard and auditing. Challenges discussed include whether strategic management is more art or science, whether strategies should be visible or hidden, and whether strategies are developed top-down or bottom-up. Guidelines for effective strategic management are also provided.
This document provides an overview of strategic management concepts. It defines strategy as a comprehensive action plan that guides resource utilization to accomplish organizational goals. The strategic management process involves formulating strategies to achieve long-term goals, implementing those strategies, and evaluating performance. Key aspects of the process include environmental scanning, strategy formulation through establishing objectives and policies, strategy implementation via programs and budgets, and strategic evaluation and control.
The document discusses key concepts in strategic management including defining strategic management, the strategic management process, and terminology used. It outlines the three main stages of strategic management as strategy formulation, implementation, and evaluation. It also discusses benefits and pitfalls to consider in strategic planning.
The document outlines the strategic management process, which consists of 5 key tasks: [1] Developing a strategic vision and mission, [2] Setting objectives, [3] Crafting a strategy, [4] Implementing and executing the strategy, and [5] Evaluating performance and initiating corrective adjustments. It emphasizes that strategy involves managerial choices to achieve organizational goals and compete successfully. Effective strategic management requires continuously monitoring performance, the external environment, and making adjustments to the strategy as needed.
The document outlines the 9 steps of the strategic management process: 1) Develop a clear vision and mission statement, 2) Assess strengths and weaknesses, 3) Scan for opportunities and threats, 4) Identify key success factors, 5) Analyze competition, 6) Create goals and objectives, 7) Formulate strategies, 8) Translate plans into action, 9) Establish controls. It provides details on developing a vision and mission statement to guide the company and communicating it effectively. It also discusses analyzing the internal/external environment, competition, and key success factors to craft strategic plans and maintain a competitive advantage.
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
The document defines strategy as a unified, comprehensive, and integrated plan that relates a firm's strategic advantages to environmental challenges to ensure objectives are achieved. It also defines strategy as an organization's pattern of response to the environment over time to achieve goals and mission. Strategy blends internal and external factors and combines actions to meet conditions, solve problems, or achieve ends. The document discusses levels of strategy including corporate, business, functional, and operating strategy and different approaches to strategic decision making such as the chief architect, delegation, collaborative, and corporate intrapreneur approaches.
Human Resource Management - G.O.L TEAM by Mr. Sherif Osman Mostafa Mahmoud
This document provides an overview of strategic management concepts including:
- The five steps of strategic management: developing a vision/mission, setting objectives, creating a strategy, implementing strategy, and evaluating performance.
- Models of strategic management including strategic formulation, implementation, and evaluation.
- The three levels of strategy: corporate, business, and functional.
- Tools for strategic management like SWOT analysis and the balanced scorecard.
- Types of organizational structures and leadership styles to support different strategies.
This document provides an introduction to strategy and strategic management. It defines strategy as the long-term direction of an organization, and discusses how all organizations formulate strategies. Strategic decisions address changes in the business environment and gain competitive advantage. Strategic planning involves analyzing the environment, choosing strategies, and taking strategic action. The document outlines various components of strategic management including objectives, vision, mission, values, and competitive advantage. It also discusses guidelines for effective strategic plans and criteria for evaluating strategies.
This document discusses different approaches to strategic decision making. It describes rational, intuitive, political, administrative, entrepreneurial, adaptive, and planning approaches. The rational approach involves analyzing all alternatives and consequences to maximize gains. The intuitive approach relies on experience, instincts, and gut feelings. The political approach considers pressures from stakeholders. The administrative approach recognizes limitations of information and rationality, aiming to satisfice rather than optimize. The entrepreneurial approach is reactive to opportunities. The adaptive approach solves urgent problems. The planning approach anticipates the future through formal analysis of internal and external factors.
The document discusses a company's internal environment and resources. It covers topics like tangible and intangible resources, capabilities, core competencies, value chain analysis, outsourcing, and preventing rigidities. The goal is to understand a company's unique resources and capabilities in order to develop a strategy that exploits them and leads to competitive advantage and above-average returns.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. It includes developing a mission, objectives, and strategies. The strategic management process consists of strategy formulation, implementation, evaluation, and monitoring environmental changes to enable adaptation. Effective strategic planning is an ongoing learning process that challenges assumptions, welcomes diverse perspectives, and strengthens ethical business practices.
The document discusses environmental scanning and industry analysis for strategic management and business policy. It covers topics such as analyzing the external environment, including natural, societal, and task environments. Porter's five forces model of industry analysis is presented. Other topics include identifying external strategic factors, analyzing industry evolution and different strategic types of firms. Competitive intelligence and monitoring competitors are also discussed. The purpose of environmental scanning and industry analysis is to gather external information relevant to organizational strategy.
Strategic management involves ongoing formulation, implementation, and evaluation of plans to help an organization achieve its objectives. Key terms in strategic management include strategists, who are responsible for the organization's success; mission statements, which identify the scope of operations; and external opportunities and threats, as well as internal strengths and weaknesses, which are assessed through environmental scanning.
Strategic management involves three main stages: strategy formulation, strategy implementation, and strategy evaluation. In strategy formulation, companies determine their vision, mission, external opportunities and threats, internal strengths and weaknesses, long-term objectives, and alternative strategies. In strategy implementation, companies develop annual objectives, policies, and allocate resources to achieve the strategic plan. In strategy evaluation, companies conduct internal and external reviews to measure performance and make corrective actions. Effective strategic management provides benefits such as enhanced awareness of threats and improved understanding of competitors' strategies.
The strategic management process involves four main steps:
1. Situation analysis which examines the internal and external environments of the company.
2. Strategy formulation where the company's strengths are analyzed to determine appropriate strategies.
3. Strategy implementation which puts the formulated strategies into action.
4. Strategy evaluation which assesses the internal and external environments again to determine if the strategies need reformulating.
Strategic Management Slides - Chapter 4 "the Internal Assessment"Rabia Rajput
For all business assignments, projects, slides and internship please contact me on below email:
rabi_117@hotmail.com
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rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
rabi_117@hotmail.com
Chapter 2 the external environment- opportunities threats industry competitio...Dr. Lam D. Nguyen
The document discusses analyzing a firm's external environment including the general, industry, and competitor environments. It describes Porter's five forces model for industry analysis and how it is used to assess the intensity of industry competition. Strategic groups and competitor analysis are also covered, with the importance of gathering competitor intelligence ethically emphasized. Competitor analysis allows firms to understand competitors' objectives, strategies, assumptions and capabilities.
This document summarizes key concepts from a textbook on strategic management. It discusses three main themes covered in the book: global considerations impacting strategic decisions, information technology as a strategic tool, and preserving the environment. It also outlines the strategic management process, benefits of good strategic management, and importance of ethics in business strategy.
This document provides an overview of strategic management concepts. It defines strategic management as involving formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives. The strategic management process consists of three main stages: strategy formulation, strategy implementation, and strategy evaluation. Strategy formulation includes developing a vision, identifying external opportunities/threats and internal strengths/weaknesses, and choosing strategies. Strategy implementation requires establishing objectives, policies, and allocating resources. Strategy evaluation assesses strategy effectiveness and drives corrective actions. The document also outlines various business strategies like market penetration, product development, diversification, and defensive strategies.
The document discusses key concepts in strategic management including:
1) Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives.
2) The strategic management process consists of three stages: strategy formulation, implementation, and evaluation.
3) Strategic management requires integrating both analysis and intuition when making decisions under uncertain conditions.
4) Firms must adapt to changes in the external environment and internal capabilities to achieve sustained competitive advantage.
Strategic management and Business policy
unit 1 ( BBA 3RD year 6th sem)
Prepared by - Dipankar Dutta
Faculty, Dev Bhoomi Group of Institution Saharanpur
email- dipankarpharma1@gmail.com
This document provides an overview of an e-learning course on strategic management. The course aims to teach techniques for strategic thinking, planning, and decision-making. It also covers topics like innovation, goal-setting, strategic leaders, and decision-making for managers. The course expects learners to develop skills in areas such as maximizing competitive advantage, creating new business models, utilizing resources effectively, and dealing with workplace challenges. It uses models like Porter's Five Forces to analyze the external environment and the strategic management process to formulate and implement strategies.
Strategic management provides direction for whole organizations and involves managing change. It examines business, technology, consumer trends and the shift from agricultural to service economies. Strategic management ensures long-term growth and profits by developing competitive advantages globally. Only a small portion of the largest 20th century companies still exist today due to failing to maintain their competitive positions. Strategic management concerns decisions that impact long-term survival and profits amid uncertainty and competition.
This document provides an overview of business policy and strategic management. It defines business policy as guidelines established by an organization to govern its actions and define decision-making boundaries. Strategic management is the process of identifying competitive advantages through generating and implementing good ideas. The document also discusses Mintzberg's 5 Ps of strategy, including strategy as a plan, ploy, pattern, position, and perspective. Examples of different types of business policies are provided.
The document provides an overview of business policy and strategic management. It defines business policy as guidelines established by an organization to govern its actions and define decision-making boundaries. Strategic management is the process of identifying competitive advantages through generating and implementing good ideas. The document also discusses corporate strategy, strategic analysis, Mintzberg's 5 Ps of strategy, levels of strategy, and vision/mission statements.
This document provides an overview of strategic planning and decision-making processes for organizations. It discusses key concepts like levels of strategy, strategic planning versus operational planning, strategic analysis tools like SWOT and Porter's Five Forces, and classical versus behavioral decision-making theories. The document also outlines the typical stages in a strategic planning process including developing a vision/mission, assessment, setting objectives, crafting a strategy, implementation, and evaluation.
The document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals and objectives. There are three main steps: planning, execution, and monitoring. The document outlines different classes of decisions, levels and types of strategies, and strategic models like Porter's generic strategies, BCG matrix, and Wheelen & Hunger's strategic model. It also discusses strategic management benefits like improved understanding of competitors and enhanced awareness of threats. Overall, the document provides an overview of key concepts in strategic management.
This document provides an overview of strategic management. It discusses that strategic management achieves organizational success through integrating various business functions. It outlines a three-stage strategic management process of formulation, implementation, and evaluation. Key aspects of strategic management include developing a vision and mission, conducting external and internal audits, setting long-term objectives and strategies, implementing strategies, and measuring performance. The benefits of strategic management include improved decision making, coordination, and competitiveness.
Corporate Strategy or Strategic Management
Concepts and Cases by Fred R. David,
Francis Marion University, Florence, South Carolina, &
Forest R. David,
Strategic Planning Consultant
This document outlines the key concepts and principles of strategic management. It discusses corporate strategy and why it is important for organizations. Corporate strategy involves commitments, decisions and actions to achieve competitive advantage and above average returns. It allows companies to keep pace with a changing environment, minimize competitive disadvantages, provide a clear strategic vision and goals, motivate employees, and strengthen decision-making. The document also defines strategy and outlines Mintzberg's 5 P's of strategy - plan, pattern, position, ploy, and perspective. Overall, corporate strategy is a comprehensive master plan for how a company will achieve its mission and objectives.
This chapter discusses strategic management and competitive advantage. It covers the following key points in 3 sentences:
The strategic planning process involves selecting a mission and goals, analyzing external opportunities and threats, analyzing internal strengths and weaknesses, selecting strategies to leverage strengths and address weaknesses, and implementing strategies. Good strategic leaders articulate a clear vision and business model, commit to strategic decisions, delegate responsibilities, and make decisions by considering cognitive biases and multiple scenarios. The chapter also discusses competitive advantage, levels of managers, common pitfalls in planning, and characteristics of effective strategic leadership.
The chapter discusses strategic management and leadership. It defines key concepts like competitive advantage and outlines the strategic planning process. This involves selecting a mission, analyzing external/internal environments, identifying strengths/weaknesses/opportunities/threats via SWOT analysis, and selecting strategies. It also discusses levels of managers, common pitfalls in planning, and techniques for overcoming cognitive biases in decision making. Characteristics of good strategic leaders are vision, commitment, being well-informed, delegation, use of power, and emotional intelligence.
This document discusses strategic thinking, including its definition as a mental process that synthesizes psychological and material data to assess and create the future. It outlines the objectives, elements, benefits, phases and components of strategic thinking. Specifically, it explains that strategic thinking has three phases - understanding the current situation, envisioning the desired future situation, and determining how to get there. It also discusses why strategic thinking is important for business success by enabling effective resource use, preparing for a changing environment, matching competitors' strengths, supporting growth, and improving decision making. The document distinguishes strategic thinking from strategic planning.
The document discusses strategic management and key concepts. It begins by defining strategic management as "the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organisation to achieve its objectives." It then discusses several important questions in strategic management, including where the company currently stands, where it wants to go, and how it will get there. The document also summarizes the strategic management process and explains how a company's strategy relates to its business model.
The document discusses various concepts related to strategy, strategic planning, and decision making. It defines strategy as management's plan to achieve successful performance. Strategic planning involves agreeing on priorities and allocating resources to achieve objectives. Decision making can take place under conditions of certainty, risk, or uncertainty. The document outlines various models for strategy formulation, including Porter's generic strategies of differentiation, cost leadership, and focus. It also discusses the strategic planning process and tools for analysis like SWOT, BCG matrix, and gap analysis.
This document provides an introduction to strategic management accounting. It discusses how strategic management accounting supports organizational strategy formation, implementation and evaluation by synthesizing both financial and non-financial information. It outlines the learning objectives which include defining strategic management and discussing the rational/formal approach to strategic development. This involves setting objectives, analyzing internal/external environments, generating strategic options, evaluating choices, implementing strategies and reviewing performance. The document also discusses levels of strategy, stakeholder analysis and managing conflicts between different stakeholder groups.
This document discusses business policy and strategic management. It begins by defining business policy as guidelines that govern an organization's actions and define decision-making boundaries. It then discusses strategic management, including defining corporate and business unit strategies. It also covers Mintzberg's five perspectives of strategy - plan, ploy, pattern, position, and perspective. Finally, it discusses the importance of vision, mission, and objective statements in guiding an organization's strategic direction.
The document provides an overview of key concepts in strategic management including:
1. Strategic management involves formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives.
2. The strategic management process includes assessing external opportunities/threats and internal strengths/weaknesses to develop long-term objectives and strategies.
3. Implementing, evaluating, and updating strategies is critical for organizations to adapt to changing conditions and gain sustained competitive advantages.
Similar to 1 Introduction & Nature Of S T R A T M A N (20)
4. Philosophy Behind the Strategic
Management Course
• Strategic Management is the capstone course
for business student majors.
• Students learn new strategy formulation,
implementation, and evaluation concepts and
techniques.
• Students use this new knowledge, coupled with
knowledge acquired from other courses, to chart
the future direction of different organizations.
5. • Strategic Management students analyze firms in
different industries, make objective strategic
decisions for companies, and justify those decisions
through oral or written communication.
• It covers problems & issues on the whole spectrum
of business, including finance, marketing,
management, management information systems,
production operations, economics, and statistics.
• Strategic management is an emerging and rapidly
developing discipline.
• Experiential exercises allows students to test the
concepts, knowledge learned.
• Cases
6. External
Audit
Chapter 3
Internal
Audit
Chapter 4
Long-Term
Objectives
Chapter 5
Generate,
Evaluate,
Select
Strategies
Chapter 6
Implement
Strategies:
Mgmt Issues
Chapter 7
Implement
Strategies:
Marketing,
Fin/Acct,
R&D, CIS
Chapter 8
Measure &
Evaluate
Performance
Chapter 9
Vision
&
Mission
Chapter 2
Comprehensive Strategic Management Model
Simple & straightforward approach
To strategic planning
Used widely among businesses
& academia worldwide
Use to integrate and organize
All chapters in this text
7. • Chapter 1 provides an overview of strategic
management.
• A practical, integrative model of the strategic-
management process is introduced.
• Basic activities and terms in strategic management
are defined.
• The benefits of strategic management are
presented.
• Important relationships between business ethics
and strategic management are discussed.
• The chapter initiates discussion of two themes:
global considerations and the strategic implications
of the natural environment.
8. • IF A MAN TAKES NO THOUGHT
ABOUT WHAT IS DISTANT, HE WILL
FIND SORROW NEAR AT HAND.
• HE WHO WILL NOT WORRY ABOUT
WHAT IS FAR OFF WILL SOON FIND
SOMETHING WORSE THAT WORRY.
• CONFUCIOUS
9. Art & science of formulating,
implementing, and evaluating,
cross-functional decisions that enable
an organization to achieve its
objectives.
WHAT IS STRATEGIC MANAGEMENT?
11. Four Phases of
Strategic Management
• Basic financial planning
• Forecast-based planning
• Externally-oriented planning (strategic)
• Strategic management
12. Strategic Management achieves a
firm’s success through
integration ––
Management
MIS
Production/OperationsFinance/Accounting
Marketing
Research & Development
13. Strategic Management
In essence, the strategic plan is a company’s
game plan
• Its used synonymously with strategic planning.
• It is also used at many colleges and universities as the subtitle
for the capstone course, Business Policy, which integrates
material from all business disciplines.
15. Decision
issues in
Strategy
Formulation
New business opportunities
Businesses to abandon
Allocation of resources
Expansion or diversification
International markets
Mergers or joint ventures
Avoidance of hostile
takeover
New business opportunities
Businesses to abandon
Allocation of resources
Expansion or diversification
International markets
Mergers or joint ventures
Avoidance of hostile
takeover
16. Strategy Implementation
Annual Objectives
Policies
Employee Motivation
Resource Allocation
It includes developing a strategy-supportive culture, creating an effective
organizational structure, redirecting marketing efforts, preparing budgets,
developing and utilizing information systems, and linking employee
compensation to organizational performance.
“ACTION STAGE”
17. Strategy Evaluation
Internal Review
External Review
Performance Metrics
Corrective Actions
It’s the final stage in strategic management. Managers desperately
need to know when particular strategies are not working well; strategy
evaluation is the primary means for obtaining this information.
18. Peter Drucker: -- Think through the
overall mission of a business.
Ask the key question: “What is our
Business?”
Prime Task of
Strategic Management
19. Topic Reports
Group 1 Case 2: Bytes Product Inc
Chap 8 Marketing, R&D, CIS
Group 2 Chap 3 Making an External Assessment
Group 3 Chap 4 Making an Internal Assessment
Group 4 Chap 5 Placing Strategies into Action
Group 5 Chap 6 Understanding Strategy
Analysis and Choice
Group 6 Chap 7 Dealing with Management and
Operations Issues
21. Organizations must monitor events
• On-going process
• Internal and external events
• Timely changes
Adapting to Change
22. Rate & magnitude of change increasing
dramatically
Adapting to Change
E-commerce
Demographics
Technology
23. • What kind of business should
we become?
• Are we in the right fields
• Are there new competitors?
• What strategies should we
pursue?
• How are our customers
changing?
Adapting to Change – Key
Strategic Management Questions
24. Chapter 1
The Nature of Strategic Management
Strategic Management:
Concepts & Cases
12th
Edition
Fred David
Sir godz eding
Instructor/Asst Prof 2
25. • “If we know where we are and
something about how we got there, we
might see where we are trending-and if
the outcomes which lie naturally in our
course are unacceptable, make timely
change.” Abraham Lincoln
26. Your Intuitive Ability
• Scoring:
• Total the number of “a” responses on
questions 1, 3, 5, 6, 11: A= _____
• Total the number of “b” responses on
questions 2, 4, 7, 8, 9, 10, 12: B=______
• Add your “a” and “b” scores A+B= _______
• Your intuitive score is _______
• 12 HPS and 0 is lowest
27. Intuition is based on:
– Past experiences
– Judgment
– Feelings
Integrating Intuition and Analysis
Intuition is useful for decision making in:
– Conditions of great uncertainty
– Conditions with little precedent
“instinctive knowledge
or feeling “
The strategic-management process can be described as an objective,
logical, systematic approach for making major decisions in an organization.
It attempts to organize qualitative and quantitative information in a way that
allows effective decisions to be made under conditions of uncertainty.
29. “Anything that a firm does especially
well compared to rival firms”
Strategic Management is Gaining
and Maintaining 1-Competitive
Advantage
30. 1. Adapting to change in external trends,
internal capabilities and resources
Achieving Sustained Competitive
Advantage…how?
2. Effectively formulating, implementing &
evaluating strategies
31. Strategists – are individuals who are most responsible for
the success or failure of an organization . They help an
organization gather, analyze and organize information. They track
industry and competitive trends, develop forecasting models and
scenario analyses, identify business threats and develop creative
action plans. Strategic planners usually serve in a support or staff
role. Usually found in higher levels of management, they typically
have considerable authority for decision-making in the firm.
•Various Job Titles:
Chief Executive Officer (CEO)
Chief Strategy Officer (CSO)
Executive Director
2
•President
•Owner
•Board Chair
32. 3 Vision & Mission Statements
• Vision statements answer the question: “What do
we want to become?”
• Mission statements are “enduring statements of
purpose that distinguish one business from other
similar firms. A mission statement identifies the
scope of a firm’s operations in product and market
terms.” It addresses the basic question that faces all
strategists: “What is our business?” It should
include the values and priorities of an organization
33. 4 External Opportunities & Threats
• Refer to economic, social, cultural, demographic,
environmental, political, legal, governmental,
technological, and competitive trends and events
that could significantly benefit or harm an
organization in the future.
• Are largely beyond the control of a single
organization, thus the term external.
• Environmental scanning or Industry analysis is the
process of conducting research & gathering &
assimilating information.
• Industry is a group of firms that produces a similar
product or service
34. Basic Tenet of Strategic Management
Key Terms
4 Opportunities & Threats
Strategy Formulation
Take advantage of
External Opportunities
Take advantage of
External Opportunities
Avoid/minimize impact of
External Threats
Avoid/minimize impact of
External Threats
Tenet – doctrine, principle
35. 5 Internal Strengths & Weaknesses
• Are an organization’s controllable activities
that are performed especially well or poorly.
• Identifying and evaluating organizational strengths and
weaknesses in the functional areas is an essential
strategic management activity.
• Strengths and weaknesses are determined
relative to competitors and may be
determined by both performance and
elements of being.
36. Strengths & Weaknesses (Internal)
Key Terms
Typically located in functional areas of the firm
• Management
• Marketing
• Finance/Accounting
• Production/Operations
• Research & Development
• Computer Information Systems
37. Assessing the Internal Environment
Key Terms
Strengths & Weaknesses
Internal Factors
Measure Performance
Compute Financial Ratios
Industry Averages
Survey Data Comparing past periods
38. Objectives - specific results that an organization
seeks to achieve in pursuing its basic mission.
more than one year
Long-term Objectives6
Corporate goals and objectives include:
Profitability (net profits)
Growth (increase in total assets, etc.)
Utilization of resources (ROE or ROI)
Market leadership (market share)
39. The means by which long-term objectives are
achieved
Key Terms
Strategies6
A strategy of a corporation forms a comprehensive master
plan stating how the corporation will achieve its mission
and objectives. It maximizes competitive advantage and
minimizes competitive disadvantage.
41. Strategies
3 Types of Strategy
Corporate strategy
Ex. Stability, Growth, Retrenchment
Business strategy
Ex. Competitive strategies, Cooperative strategies
Apple’s differentiation vs. Alliances by some airlines/banks
Functional strategy
Ex. Technological leadership, Technological followership
Pioneer an innovation vs. Imitate products of other companies
43. Short-term milestones that firms must achieve
to attain long-term objectives
Annual Objectives7
Policies
Means by which annual objectives will be
achieved
8
44. Dynamic & Continuous
More formal in larger organizations
Strategic Management Model
Strategic Management Process
49. Benefits of Strategic Management
• Proactive in shaping firm’s future
• Initiate and influence firm’s activities
• Formulate better strategies
•Systematic, logical, rational
50. Benefits of Strategic Management
Financial Benefits
• Improvement in sales
• Improvement in profitability
• Productivity improvement
51. Benefits of Strategic Management
Non-Financial Benefits
• Improved understanding of competitors strategies
• Enhanced awareness of threats
• Reduced resistance to change
• Enhanced problem-prevention capabilities
52. WHY SOME FIRMS DO NO STRATEGIC PLANNING
1. Poor reward structures
2. Fire fighting
3. Waste of time
4. Too expensive
5. Laziness
6. Content with success
7. Fear of failure
8. Overconfidence
9. Prior bad experience
10.Self-interest
11.Fear of the unknown
12.Honest difference of opinion
13.Suspicion
53. PITFALLS IN STRATEGIC PLANNING
• Using strategic planning to gain control over decisions and resources
• Doing strategic planning only to satisfy accreditation or regulatory requirements
• Too hastily moving from mission development to strategy formulation
• Failing to communicate the plan to employees, who continue working in the dark
• Top managers making many intuitive decisions that conflict with the formal plan
• Top managers not actively supporting the strategic-planning process
• Failing to use plans as a standard for measuring performance
• Delegating planning to a “planner” rather than involving all managers
• Failing to involve key employees in all phases of planning
• Failing to create a collaborative climate supportive of change
• Viewing planning to be unnecessary or unimportant
• Becoming so engrossed in current problems that insufficient or no planning is
done
• Being so formal in planning that flexibility and creativity are stifled
54. ISO 14000
Natural Environment Perspective
ISO used to gain strategic advantage
Focuses on operating in an environmentally
friendly manner. Voluntary standards in
environmental fields.
ISO 14001 standard for Environmental Management System
Not certified can be a strategic disadvantage
Firms minimize harmful effects on environment
International Organization for Standardization based in Geneva,
Switzerland, Is a network of national standards institutes of 147
countries.
55. Parent company
Host country
The Nature of Global Competition
International/multinational corporations
Refers to a company investing in
International operations
It’s the country where that business is conducted
Strategy implementation may be difficult
Cultural differences: Ex. Norms, Values, Work ethic
Co. that conduct business operations across national borders
56. Advantages of International Operations
Absorb excess capacity
Reduce unit costs
Spread risk over wider markets
Low-cost production facilities
Less intense competition
Lower taxes
Economies of scale
The decrease in unit cost of a product or service
resulting from large-scale operations, as in mass.
58. Conclusion
• All firms have a strategy, even if it is informal, unstructured, and sporadic.
All organizations are heading somewhere, some don’t know…
• The Strategic –management process is becoming more widely used by
small firms, large companies, non-profit, government organizations, & MNC.
When managers & employees are empowered, it has limitless boundaries.
• Organizations should take proactive rather than reactive approach in their
industry; should influence, anticipate, & initiate rather that just respond to
events.
• The strategic-management process is logical, systematic and objective
approach in determining an enterprise future direction.
60. Challenges to
Strategic Management
Globalization
– Internationalization of markets and corporations
• Global (worldwide) markets rather than national
markets
Electronic Commerce
– Use of the Internet to conduct business transactions
• Basis for competition on a more strategic level rather
than traditional focus on product features and costs
61. Global Issues
• European Union (EU)
– Economic integration of 15 member countries
• North American Free Trade Agreement (NAFTA)
– Improved trade among 3 member countries
• Mercosur
– Free-trade area among Argentina, Brazil, Uruguay, and
Paraguay
• Association of South East Asian Nations (ASEAN)
– Attempting to link members into a borderless economic
zone
62. E-Commerce
7 Trends:
1. Internet forcing companies to transform themselves
2. Market access and branding are changing, causing
disintermediation of traditional distribution channels
3. Balance of power shifting to the consumer
4. Competition is changing
5. Pace of business increasing drastically
6. Internet purchasing corporations out of their traditional
boundaries
7. Knowledge becoming a key asset and source of
competitive advantage
63. Strategic Management
Highly Rated Benefits:
• Clearer sense of strategic vision for the firm
• Sharper focus on what is strategically important
• Improved understanding of a rapidly changing
environment