The document discusses strategic management and strategy. It states that strategic management helps answer why some firms outperform others by examining how actions of executives, firms, and industries influence success. Mastering strategy is both an art and a science, as various tools can analyze relationships, but creativity is also important. Intended strategies are what a firm hopes to execute, while emergent strategies arise unexpectedly in response to opportunities and challenges, and realized strategies are what a firm actually follows, incorporating both intended and emergent elements.
Mastering Strategic Management. Leading strategicallyIvanVyshnyvetskyy
This document provides an overview of Chapter 2 from the textbook "Mastering Strategic Management". It discusses key topics from the chapter, including defining vision and mission statements, writing SMART goals, assessing organizational performance, and understanding balanced scorecards. Various examples of company mission and vision statements are also provided and analyzed.
This chapter defines a project as a unique product or service that is time-limited and ends when its objectives are achieved or abandoned. It discusses that project success is traditionally defined by being on time, within budget and delivering the promised scope, but more effectively by a satisfied customer. A project faces constraints of cost, scope, quality, risk, resources, and time, which can be grouped into the triple constraints of time, scope and cost. The chapter also covers that project management requires expertise in various applications and environments as well as skills in areas like communication, leadership, and problem solving.
This chapter defines projects as unique products or services that are time-limited and end when objectives are achieved or abandoned. It discusses that project success is traditionally defined by being on time, within budget and delivering promised scope, but more effectively by satisfying customers. Project constraints include time, cost, scope, quality, risk, and resources. Project management requires application knowledge, understanding the project environment and cultural context, and skills in communication, leadership, and problem solving.
Chapter-2 ON PROJECT MANAGEMENT HOW TO SELECT PROJECT.pptxssdongre1
This chapter defines a project as a unique product or service that is time-limited and ends when its objectives are achieved or abandoned. It discusses that project success is traditionally defined by being on time, within budget and delivering the promised scope, but more effectively by a satisfied customer. A project has constraints of cost, scope, quality, risk, resources, and time that can be grouped into the triple constraints of time, scope and cost. The chapter also covers that project management requires expertise in various applications and skills in understanding the project environment and managing it through interpersonal, communication, leadership and problem-solving skills.
This document outlines the learning objectives and content of a chapter on performance management and strategic planning. It discusses key concepts such as:
- The definition and purposes of strategic planning, including defining an organization's identity, preparing for the future, and allocating resources.
- The process of linking performance management to an organization's strategic plan, including developing strategic plans at the unit level, linking job descriptions to plans, and aligning individual performance.
- Components of strategic plans such as environmental analysis, mission and vision statements, goals, and strategies. It provides guidance on creating these elements and ensuring alignment across the organization.
The document aims to help readers understand how strategic planning informs performance management system design and builds support
Depth interviews are used to explore research topics in-depth. They involve one-on-one, open-ended interviews between an interviewer and respondent. The interviewer uses probing questions to elicit detailed information and responses from the respondent by turning their initial answers into follow up questions. This allows respondents to further explain their views in a natural discussion. The goal is for respondents to provide unstructured, qualitative data that provides insights rather than fitting into predetermined categories.
Project Management and Innovation in Biomedical Engineering. Section 1: Conce...Aurelio Ruiz Garcia
Set of slides for Section 1 of the course "Project Management and Innovation in Biomedical Engineering". Biomedical Engineering - UPF (2013-14)
Introduction to management concepts, innovation management, business models, value chain, strategies, design of communication plans.
The document discusses the phases of engineering design process. It describes Phase I (Conceptual Design) which involves identifying customer needs, problem definition, concept generation and selection. It then describes Phase II (Embodiment Design) which involves determining product architecture, configuration design of parts and components, and parametric design. The phases lay the foundation for detailed design in Phase III.
Mastering Strategic Management. Leading strategicallyIvanVyshnyvetskyy
This document provides an overview of Chapter 2 from the textbook "Mastering Strategic Management". It discusses key topics from the chapter, including defining vision and mission statements, writing SMART goals, assessing organizational performance, and understanding balanced scorecards. Various examples of company mission and vision statements are also provided and analyzed.
This chapter defines a project as a unique product or service that is time-limited and ends when its objectives are achieved or abandoned. It discusses that project success is traditionally defined by being on time, within budget and delivering the promised scope, but more effectively by a satisfied customer. A project faces constraints of cost, scope, quality, risk, resources, and time, which can be grouped into the triple constraints of time, scope and cost. The chapter also covers that project management requires expertise in various applications and environments as well as skills in areas like communication, leadership, and problem solving.
This chapter defines projects as unique products or services that are time-limited and end when objectives are achieved or abandoned. It discusses that project success is traditionally defined by being on time, within budget and delivering promised scope, but more effectively by satisfying customers. Project constraints include time, cost, scope, quality, risk, and resources. Project management requires application knowledge, understanding the project environment and cultural context, and skills in communication, leadership, and problem solving.
Chapter-2 ON PROJECT MANAGEMENT HOW TO SELECT PROJECT.pptxssdongre1
This chapter defines a project as a unique product or service that is time-limited and ends when its objectives are achieved or abandoned. It discusses that project success is traditionally defined by being on time, within budget and delivering the promised scope, but more effectively by a satisfied customer. A project has constraints of cost, scope, quality, risk, resources, and time that can be grouped into the triple constraints of time, scope and cost. The chapter also covers that project management requires expertise in various applications and skills in understanding the project environment and managing it through interpersonal, communication, leadership and problem-solving skills.
This document outlines the learning objectives and content of a chapter on performance management and strategic planning. It discusses key concepts such as:
- The definition and purposes of strategic planning, including defining an organization's identity, preparing for the future, and allocating resources.
- The process of linking performance management to an organization's strategic plan, including developing strategic plans at the unit level, linking job descriptions to plans, and aligning individual performance.
- Components of strategic plans such as environmental analysis, mission and vision statements, goals, and strategies. It provides guidance on creating these elements and ensuring alignment across the organization.
The document aims to help readers understand how strategic planning informs performance management system design and builds support
Depth interviews are used to explore research topics in-depth. They involve one-on-one, open-ended interviews between an interviewer and respondent. The interviewer uses probing questions to elicit detailed information and responses from the respondent by turning their initial answers into follow up questions. This allows respondents to further explain their views in a natural discussion. The goal is for respondents to provide unstructured, qualitative data that provides insights rather than fitting into predetermined categories.
Project Management and Innovation in Biomedical Engineering. Section 1: Conce...Aurelio Ruiz Garcia
Set of slides for Section 1 of the course "Project Management and Innovation in Biomedical Engineering". Biomedical Engineering - UPF (2013-14)
Introduction to management concepts, innovation management, business models, value chain, strategies, design of communication plans.
The document discusses the phases of engineering design process. It describes Phase I (Conceptual Design) which involves identifying customer needs, problem definition, concept generation and selection. It then describes Phase II (Embodiment Design) which involves determining product architecture, configuration design of parts and components, and parametric design. The phases lay the foundation for detailed design in Phase III.
The Art and Science of Communicating Your Product StrategyAggregage
Join Jason Tanner, CEO of Applied Frameworks as he reviews a range of frameworks and practices to construct a clear, compelling product strategy connected to the business model for the product. He will differentiate product strategy, vision and tactics with practical examples and share approaches for effective communication within and beyond the team.
To introduce the reader to the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company's objectives.
BPS-Session required for information ........AtifKiani1
This document outlines the course structure and expectations for a strategic management course. It will include 16 sessions over 15 weeks. Students will be assessed through sessionals, quizzes, a group project, an assignment, and a final exam. The group project involves conducting strategic analysis on a public firm and presenting recommendations. Readings will be provided online through academic journals. The course will cover topics such as strategic analysis, organizational decisions, and student presentations.
This document discusses conducting market research and competitor analysis for a marketing manager. It provides guidelines on assessing the validity and reliability of market research findings and preparing a marketing research plan. It also covers topics like measuring market size and trends, forecasting demand, conducting competitor analysis by identifying competitors, assessing their objectives and strategies, and determining competitive positioning. The document is intended to help students understand concepts related to market analysis and competitor evaluation.
The document provides an overview of strategic management. It is divided into three sections. The first section discusses strategic planning, including defining a company's mission, internal analysis, and external environmental analysis. The second section covers strategic analysis and choice, and setting long-term objectives and strategies. The third section focuses on the implementation phase, including developing action plans, integrating strategies into the organization, and strategic control. The document aims to give readers a basic understanding of the strategic planning process and how strategies are developed, analyzed, chosen and implemented at the corporate level.
This document discusses project screening and selection methods used by organizations to prioritize projects and resources. It provides examples of how organizations develop weighted scoring criteria to evaluate proposed projects based on their alignment with strategic objectives. Projects are scored and ranked according to their potential contribution in key areas like revenue generation, cost reduction, customer service, and other priorities. This ensures high value projects that further organizational goals receive funding over less impactful proposals. The document also outlines solicitation of project ideas, evaluation forms to collect necessary data, and how impact assessments are combined with objective importance weights to determine an overall score for prioritizing project portfolios.
This document discusses the key steps and concepts in strategic management, including:
1) Conducting internal and external analyses to identify strengths, weaknesses, opportunities, and threats using a SWOT analysis. This includes analyzing the internal, economic, sociocultural, technological, and political environments.
2) Formulating strategy at the corporate, business, and functional levels to determine what businesses to be in and how to operate and implement the strategies.
3) Implementing the strategy by aligning resources and communicating to employees, and evaluating and controlling progress to achieve the organization's mission. Effective strategic management requires analyzing the environment, formulating the right strategies, and properly implementing and evaluating them.
The document discusses various models for classifying project stakeholders and their needs. It also covers different project procurement strategies and their implications for integrating or separating the design and construction phases. Hierarchical, matrix and hybrid organizational structures are examined in terms of managing project teams. The key factors that influence a project manager's ability to successfully complete a project are addressing stakeholder expectations, developing a realistic schedule, clearly defining roles and responsibilities, managing scope changes, communicating effectively, and taking a leadership role.
This document discusses strategic planning and marketing analysis. It defines strategic planning as a process by which leaders determine their organization's vision for the future and how to achieve that vision. The strategic planning process involves analyzing internal and external environments, establishing goals and objectives, and developing functional plans including a marketing plan. It also discusses the importance of an organization having a clear mission statement that defines its reason for existence and how it differs from the organization's vision for the future.
This document discusses strategic planning for firms operating in the computer graphics industry (CGI). It outlines key questions firms should consider, like what products/services to offer and how to outperform competitors. Major trends are also examined, like shifting consumer demographics and environmental needs. Firms are advised to constantly re-invent themselves, stay aware of trends, and ask strategic questions to maintain a competitive advantage in the rapidly changing marketplace.
This document provides information about a workshop facilitator and strategic management trainer named Muhamad Bustaman Bin Haji Abdul Manaf. It includes his biography, qualifications, experience in areas like strategic management and quality management, publications, training courses conducted, and areas of expertise. The document also discusses key aspects of strategic management like the strategic management process, levels of strategy, SWOT analysis, strategic planning tools like the BCG matrix, balanced scorecards, and developing KPIs.
Complete guide to Business Strategy DesignSTRATICX
1. Introduction
The document provides guidance on developing a complete business strategy. It discusses 12 key elements of business strategy formulation:
2. Corporate Goals
1) Setting the organization's mission, vision, values and goals
3. Situation Diagnosis
2) Diagnosing the current market situation by defining segments, assessing segment attractiveness, and evaluating the organization's competitive position
4. Strategy Levers
3) Identifying strategic options for how the organization can effectively compete based on the situation diagnosis
5. Action Plan
4) Developing an action plan to deliver the strategy through communication, project initiation, target setting and progress monitoring
The document outlines issues and
This document discusses organizational structures and processes for innovation. It begins by explaining how creating value requires understanding how technologies and customer needs will evolve. Effective organizations change structures during periods of disruption. Centralized versus decentralized research and development is discussed, noting that the two issues of the role of central research and commercializing technology cannot be addressed in isolation. The document then examines examples of organizational structures such as matrix teams and centers of excellence, as well as processes like patching business portfolios and enabling cross-business synergies through coevolution. It concludes that relationship processes that encourage open and collaborative innovation between partners can generate multiple innovations through rotating leadership rather than consensus or domineering approaches.
This document provides an overview of strategic thinking. It discusses the evolution of strategic management from the CEO era to the current emphasis on strategic thinking. The key elements of strategic thinking are described as having a system perspective, being intent focused, thinking in time, and being hypothesis driven. Strategic thinking can occur at both the individual and organizational levels. The strategic thinking process involves asking questions, clarifying issues, considering alternatives, reframing perspectives, and simplifying concepts.
The document provides an overview of the first week of a course on organizational performance and culture. It includes an introduction to the unit and session outline, learning outcomes, and topics that will be covered related to organizational structure, strategy, and external factors. The session outline includes evaluating different types of organizational structures and their advantages/disadvantages, analyzing connections between organizational strategy and other business elements, and analyzing external trends impacting organizations using tools like PESTLE analysis. Various organizational structures, strategy approaches, and revenue generation examples are also discussed.
Are you an early-stage or mature technology company looking to create a go-to-strategy that is both market-relevant and customer-centric? Read this to learn how LIFE3 is applying agile principles & practices, and design thinking to help software technology companies to develop a rapid, cost-effective strategy for releasing customer-centric, market-relevant products into market.
Business analysis is a set of knowledge, tasks, and techniques used to identify business needs and determine solutions to business problems; in order to redesign of a process or organizational structure. Therefore, examine the role of the business analyst, the core concepts and leadership skills needed as a business analyst.
Business analysis is a set of knowledge, tasks, and techniques used to identify business needs and determine solutions to business problems; in order to redesign of a process or organizational structure. Therefore, examine the role of the business analyst, the core concepts and leadership skills needed as a business analyst.
Understanding Strategic Planning: What would you ask?Alex Goh
So lets say you wish to amp up your understanding on strategic planning. Now imagine you could ask a fellow Planner anything - what would you ask? The above is a compilation of 4 questions - from one Planner to another.
But it's but ONE way of answering those questions. How would you have answered differently?
Be it an alternative answer, or a new question, feel free to drop a comment below (or start your own Q&A) and see what kind of conversation ensues.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
The Art and Science of Communicating Your Product StrategyAggregage
Join Jason Tanner, CEO of Applied Frameworks as he reviews a range of frameworks and practices to construct a clear, compelling product strategy connected to the business model for the product. He will differentiate product strategy, vision and tactics with practical examples and share approaches for effective communication within and beyond the team.
To introduce the reader to the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company's objectives.
BPS-Session required for information ........AtifKiani1
This document outlines the course structure and expectations for a strategic management course. It will include 16 sessions over 15 weeks. Students will be assessed through sessionals, quizzes, a group project, an assignment, and a final exam. The group project involves conducting strategic analysis on a public firm and presenting recommendations. Readings will be provided online through academic journals. The course will cover topics such as strategic analysis, organizational decisions, and student presentations.
This document discusses conducting market research and competitor analysis for a marketing manager. It provides guidelines on assessing the validity and reliability of market research findings and preparing a marketing research plan. It also covers topics like measuring market size and trends, forecasting demand, conducting competitor analysis by identifying competitors, assessing their objectives and strategies, and determining competitive positioning. The document is intended to help students understand concepts related to market analysis and competitor evaluation.
The document provides an overview of strategic management. It is divided into three sections. The first section discusses strategic planning, including defining a company's mission, internal analysis, and external environmental analysis. The second section covers strategic analysis and choice, and setting long-term objectives and strategies. The third section focuses on the implementation phase, including developing action plans, integrating strategies into the organization, and strategic control. The document aims to give readers a basic understanding of the strategic planning process and how strategies are developed, analyzed, chosen and implemented at the corporate level.
This document discusses project screening and selection methods used by organizations to prioritize projects and resources. It provides examples of how organizations develop weighted scoring criteria to evaluate proposed projects based on their alignment with strategic objectives. Projects are scored and ranked according to their potential contribution in key areas like revenue generation, cost reduction, customer service, and other priorities. This ensures high value projects that further organizational goals receive funding over less impactful proposals. The document also outlines solicitation of project ideas, evaluation forms to collect necessary data, and how impact assessments are combined with objective importance weights to determine an overall score for prioritizing project portfolios.
This document discusses the key steps and concepts in strategic management, including:
1) Conducting internal and external analyses to identify strengths, weaknesses, opportunities, and threats using a SWOT analysis. This includes analyzing the internal, economic, sociocultural, technological, and political environments.
2) Formulating strategy at the corporate, business, and functional levels to determine what businesses to be in and how to operate and implement the strategies.
3) Implementing the strategy by aligning resources and communicating to employees, and evaluating and controlling progress to achieve the organization's mission. Effective strategic management requires analyzing the environment, formulating the right strategies, and properly implementing and evaluating them.
The document discusses various models for classifying project stakeholders and their needs. It also covers different project procurement strategies and their implications for integrating or separating the design and construction phases. Hierarchical, matrix and hybrid organizational structures are examined in terms of managing project teams. The key factors that influence a project manager's ability to successfully complete a project are addressing stakeholder expectations, developing a realistic schedule, clearly defining roles and responsibilities, managing scope changes, communicating effectively, and taking a leadership role.
This document discusses strategic planning and marketing analysis. It defines strategic planning as a process by which leaders determine their organization's vision for the future and how to achieve that vision. The strategic planning process involves analyzing internal and external environments, establishing goals and objectives, and developing functional plans including a marketing plan. It also discusses the importance of an organization having a clear mission statement that defines its reason for existence and how it differs from the organization's vision for the future.
This document discusses strategic planning for firms operating in the computer graphics industry (CGI). It outlines key questions firms should consider, like what products/services to offer and how to outperform competitors. Major trends are also examined, like shifting consumer demographics and environmental needs. Firms are advised to constantly re-invent themselves, stay aware of trends, and ask strategic questions to maintain a competitive advantage in the rapidly changing marketplace.
This document provides information about a workshop facilitator and strategic management trainer named Muhamad Bustaman Bin Haji Abdul Manaf. It includes his biography, qualifications, experience in areas like strategic management and quality management, publications, training courses conducted, and areas of expertise. The document also discusses key aspects of strategic management like the strategic management process, levels of strategy, SWOT analysis, strategic planning tools like the BCG matrix, balanced scorecards, and developing KPIs.
Complete guide to Business Strategy DesignSTRATICX
1. Introduction
The document provides guidance on developing a complete business strategy. It discusses 12 key elements of business strategy formulation:
2. Corporate Goals
1) Setting the organization's mission, vision, values and goals
3. Situation Diagnosis
2) Diagnosing the current market situation by defining segments, assessing segment attractiveness, and evaluating the organization's competitive position
4. Strategy Levers
3) Identifying strategic options for how the organization can effectively compete based on the situation diagnosis
5. Action Plan
4) Developing an action plan to deliver the strategy through communication, project initiation, target setting and progress monitoring
The document outlines issues and
This document discusses organizational structures and processes for innovation. It begins by explaining how creating value requires understanding how technologies and customer needs will evolve. Effective organizations change structures during periods of disruption. Centralized versus decentralized research and development is discussed, noting that the two issues of the role of central research and commercializing technology cannot be addressed in isolation. The document then examines examples of organizational structures such as matrix teams and centers of excellence, as well as processes like patching business portfolios and enabling cross-business synergies through coevolution. It concludes that relationship processes that encourage open and collaborative innovation between partners can generate multiple innovations through rotating leadership rather than consensus or domineering approaches.
This document provides an overview of strategic thinking. It discusses the evolution of strategic management from the CEO era to the current emphasis on strategic thinking. The key elements of strategic thinking are described as having a system perspective, being intent focused, thinking in time, and being hypothesis driven. Strategic thinking can occur at both the individual and organizational levels. The strategic thinking process involves asking questions, clarifying issues, considering alternatives, reframing perspectives, and simplifying concepts.
The document provides an overview of the first week of a course on organizational performance and culture. It includes an introduction to the unit and session outline, learning outcomes, and topics that will be covered related to organizational structure, strategy, and external factors. The session outline includes evaluating different types of organizational structures and their advantages/disadvantages, analyzing connections between organizational strategy and other business elements, and analyzing external trends impacting organizations using tools like PESTLE analysis. Various organizational structures, strategy approaches, and revenue generation examples are also discussed.
Are you an early-stage or mature technology company looking to create a go-to-strategy that is both market-relevant and customer-centric? Read this to learn how LIFE3 is applying agile principles & practices, and design thinking to help software technology companies to develop a rapid, cost-effective strategy for releasing customer-centric, market-relevant products into market.
Business analysis is a set of knowledge, tasks, and techniques used to identify business needs and determine solutions to business problems; in order to redesign of a process or organizational structure. Therefore, examine the role of the business analyst, the core concepts and leadership skills needed as a business analyst.
Business analysis is a set of knowledge, tasks, and techniques used to identify business needs and determine solutions to business problems; in order to redesign of a process or organizational structure. Therefore, examine the role of the business analyst, the core concepts and leadership skills needed as a business analyst.
Understanding Strategic Planning: What would you ask?Alex Goh
So lets say you wish to amp up your understanding on strategic planning. Now imagine you could ask a fellow Planner anything - what would you ask? The above is a compilation of 4 questions - from one Planner to another.
But it's but ONE way of answering those questions. How would you have answered differently?
Be it an alternative answer, or a new question, feel free to drop a comment below (or start your own Q&A) and see what kind of conversation ensues.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
The 10 Most Influential Leaders Guiding Corporate Evolution, 2024.pdfthesiliconleaders
In the recent edition, The 10 Most Influential Leaders Guiding Corporate Evolution, 2024, The Silicon Leaders magazine gladly features Dejan Štancer, President of the Global Chamber of Business Leaders (GCBL), along with other leaders.
1. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Mastering Strategic
Management
Chapter 1
Mastering Strategy: Art and Science
2. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Welcome to Strategy [ABC-
XXX]
• Welcome
• Introduction to Business Policy – course outline
• Administrative Details
• Expectations (mine and yours)
• Student Success (advice)
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Learning Objectives
• Insert from Course Outline
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Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Managing in the Real World
5. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
(IMHO) there are only 2 key
Leadership Tasks
• 1 - Manage the People (Up, Down, Sideways)
• ‘People’ skills
• Listening is #1
• Thank you is #2
• 2 - Set the long-term strategic direction
• Where do you want to be in 5 years
Hint, this course focuses on the latter!!
Many other skills are required of course, but “when push
comes to shove”, for everything else you can hire off the
street, delegate, contract for…
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Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
What is Strategic
Management?
Examines how actions and events involving top
executives (such as Steve Jobs), firms (Apple), and
industries (the tablet market) influence a firm’s success
or failure
• Formal tools that exist for
understanding these
relationships are not enough
• Creativity is just as important to
strategic management
http://www.whatmakesagoodleader.com
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Choices
http://commons.wikimedia.org/wiki/File:Train_Track_Changing_System.JPG
8. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Why some Firms and not
Others?
Not Luck!!
• Lots of Studies looking for Answer…
• Part of the answer linked to Strategic Choices and
execution!
9. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
A Gallery of Disruptive
Technologies (2014-2025, http://www.mckinsey.com)
10. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
On the Horizon…
• Climate Change
• Economic Booms & Busts
• Demographic Changes
• Energy
• Potable (drinkable) water shortage
11. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
What do all these potential things
have in common? CHANGE…
Disruptive technologies can & will change the game for businesses,
creating entirely new opportunities, costs & value propositions.
Business leaders must:
• maintain a competitive strategy
• continuously scan for new opportunities / challenges to existing
profits centers
• adopt use technologies to improve internal performance
• keep employees’ skills up-to-date, right people on bus!
• Balance potential benefits with
12. This work is licensed under a
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
It’s not all strategy…
But strategy (or lack of) explains a lot
13. This work is licensed under a
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
For teaching in two 90-
minute classes/wk,
possible break point
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Tic-Tac-Toe – What’s Your
Strategy?
You Go First! Make your Mark
X
OK, my turn. Now you go
14
15. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategy
• Strategic management helps answer the key
question: “why do some firms outperform other firms?”
• Examines how actions and events involving top
executives, firms, and industries influence a firm’s
success or failure
• Various tools exist to analyse and understanding these
relationships
• But, creativity is central to strategic management;
mastering strategy is therefore part art and part
science.
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Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
17. This work is licensed under a
Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategy as Plan
• A strategic plan is a carefully crafted set of steps that a
firm intends to follow to be successful.
• Virtually every organization creates a strategic plan to
guide its future
• So should you….
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Creative Commons Attribution 3.0 Unported License (CC-BY).
Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
If you’re not going to have a
strategy, the only interesting
question is…
Will we be
going in circles
to the LEFT?
Or to the
RIGHT?
‘Cause real
process is
pretty
unlikely!!
X
18
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Business Model – Profit Plan!
• Economies of Scale (lower costs)
• Specialized Equipment (hotter ovens)
• Expert pizza cooks (specilization)
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategy as Ploy
• A strategic ploy is a specific move designed to outwit or
trick competitors.
• Ploys often involve using creativity to enhance success
• Ploys can be especially beneficial in the face of much
stronger opponents.
• Military history offers quite a few illustrative examples
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategy as Pattern
• Consistency of strategy over time
• Kmart began straying from its established strategic
pattern, from discount retailing and toward
diversification including sporting goods (Sports
Authority), building supplies (Builders Square), office
supplies (OfficeMax), and books (Borders)
• In the 1990s, Kmart’s strategy was again adjusted to
emphasize information technology and supply chain
management
• Then Kmart’s strategy was to compete directly with its
much-larger rival, Walmart. The resulting price war left
Kmart crippled and eventually bankrupt
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategy as Position
• Strategy as position—considers a firm and its
competitors
• Refers to a firm’s place in the industry relative to its
competitors, leader, brand levels
• Very hard to change position….
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategy as Perspective
• Strategy as perspective refers to how executives
interpret the competitive landscape around them
• Because each person is unique, 2 different executives
could look at the same event—such as a new
competitor emerging—and attach different meanings to
it
• One might just see a new threat to his or her firm’s
sales; the other sees newcomer as potential ally
• An old cliché “make lemons into lemonade”
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
1.2 Intended, Emergent &
Realized Strategies
• Intended strategies: Strategy that an organization hopes to
execute
• Emergent strategies: Unplanned strategy that arises in response
to unexpected opportunities and challenges
• Realized strategies: The strategy that an organization actually
follows. They are a product of both intended and realized
strategies
• Deliberate strategy: The parts of the intended strategy that an
organization continues to pursue over time
• Non-realized strategy: The parts of the intended strategy that are
abandoned
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategies - Examples
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategies - Examples
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Strategies - Examples
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
A Model of Intended, Deliberate,
and Realized Strategy (Figure 1.3)
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
FED EX
• Part Intended strategies: Packages sent through
central hubs (like passengers)
• Part Emergent strategies: ZapMail (Fax service that
failed)
• Realized strategies: The strategy that an organization
actually follows, combo of both intended & realized
strategies
• Deliberate strategy: The parts of the intended
strategy that an organization continues to pursue over
time
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Regional Hub Model
https://flic.kr/p/6mHALH
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
1.3 History of Strategic
Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
History of Strategic
Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
History of Strategic
Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
History of Strategic
Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
History of Strategic
Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
The Modern History of
Strategic Management
Frederick Taylor, father of 'scientific management', testifying before Congress a hundred
years ago:
'I can say, without the slightest hesitation, that the science of handling pig-iron is so great
that the man who is ... physically able to handle pig-iron and is sufficiently phlegmatic and
stupid to choose this for his occupation is rarely able to comprehend the science of
handling pig-iron.'
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Frederick W Taylor
Taylor was a mechanical engineer & 1st person to systemically
study work. ‘Scientific management’ is responsible for tremendous
surge of affluence in the last 75 years, lifting working masses in
developed countries well above any level recorded before, even for
the well-to-do.
Taylor's scientific management consisted of four principles:
• Replace rule-of-thumb work methods with methods based on a scientific
study of the tasks
• Scientifically select, train, and develop each employee rather than
passively leaving them to train themselves
• Provide "Detailed instruction & supervision of each worker in the
performance of that worker's discrete task”
• Divide work - managers apply scientific management principles to
planning work & workers actually perform tasks
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Frank & Lillian Gilbreth
Time & Motion Study in Bricklaying
http://youtu.be/lDg9REgkCQk (1:30min)
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
The Modern History of
Strategic Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
The Modern History of
Strategic Management
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
1.4 Understanding the Strategic
Management Process
BOTH AN ART & SCIENCE!
Strategic management process: Building a careful
understanding of how the world is changing &
knowledge of how changes might affect a particular firm
• Understanding strategy and performance
• Environmental and Internal scanning
• Strategy formulation
• Strategy implementation
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Key Takeaways
• Strategic management focuses on firms & different
strategies used to become & remain successful
• Multiple views of strategy exist, and the 5 Ps
(Mintzberg) enhance understanding of the various
ways in which firms conceptualize strategy
• Most org create intended strategies they hope will lead
to success
• Over time, however, new opportunities & challenges -
emergent strategies
• Realized strategies are a product of both intended and
realized strategies
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Mastering Strategic Management
Chapter 1: Mastering Strategy: Art and Science
Key Takeaways
• Although strategic management as a field of study has
developed mostly over the last century, the concept of
strategy is much older
• Understanding strategic management can benefit
greatly by learning the lessons that ancient history and
military strategy provide
• Sometimes reducing size of firms maximize chances of
success or survival, from modest steps such as
retrenchment or more profound restructuring strategies
Editor's Notes
All three components of the external environment, the specific environment, the general environment and the global environment may have a significant effect on the organization
I generally speak to some of these changes, that the (business) world is anything but stable! And that firms must both have, and constantly adjust, their strategies to be viable in the market
Photo https://flic.kr/p/8rgbqk, CC BY
Photo – David Try
What was your strategy? (if you had one)
Does a strategy help you win?
Text I believe
Eat in, Take out, or Delivery…. Some of your strategic choices
Photo backgroup - https://flic.kr/p/6jVfLJ, CC BY NC SA
Photo Pizza truck -https://flic.kr/p/eMPygW
Image textbook
Discuss how a regional hub model is an effective strategy to maximize cargo or passenger loads