In this lesson you learned about the three fundamental areas of executing strategy. You learned that reviewing Value chain activities, Marshalling resources and Managing change are the main components to effectively put Strategy Into Action.
Corporate level strategies involve decisions about an organization's overall goals and approach to growth, stability, or reduction. They include intensification strategies like market penetration, product development, and innovation or diversification strategies that are concentric, conglomerate, forward, or backward. Business level strategies focus on a single business unit and involve pursuing cost leadership, differentiation, or focus. Effective strategic implementation requires allocating resources through budgets, structuring the organization appropriately, and managing projects to accomplish goals.
Strategic management involves ongoing formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives in light of internal and external environments. Key terms in strategic management include strategists who are responsible for organizational success or failure, mission statements that identify an organization's scope and values, and external opportunities and threats from trends outside an organization's control. Environmental scanning involves researching external information on opportunities and threats as well as analyzing internal strengths and weaknesses.
Strategic management involves the formulation, implementation, evaluation, and control of strategies to achieve organizational goals. It operates at the corporate, strategic business unit, and functional levels. Strategic decision making considers objectives, alternatives to meet objectives, evaluation of alternatives, and selection of the best alternative. Schools of strategic management thought include prescriptive schools that view strategy as conception, planning, or analysis, descriptive schools that see strategy as visionary, mental, emergent, collective, cultural, or reactive, and integrative schools that view strategy as a process of transformation.
This document provides an overview of strategic management and strategy. It discusses key concepts including:
- Strategy involves achieving competitive advantage by meeting customer needs better than rivals.
- Strategic management consists of strategy analysis, formulation, and implementation. These elements are interdependent.
- Strategy analysis evaluates the external environment and internal capabilities to determine how well positioned an organization is.
- Strategy formulation takes place at the business and corporate levels based on strategic analysis and creative insights.
- Strategy implementation requires effective communication and a flexible organizational culture.
- Corporate, business, and functional strategies operate at different levels within an organization.
This document discusses strategic management and the strategic planning process. It defines strategy and outlines three levels of strategy: corporate, business unit, and functional. It then describes the strategic planning process, which includes establishing strategic intent, conducting an environmental scan involving internal and external analysis, and formulating strategy by defining the mission and objectives. The process aims to help organizations effectively manage opportunities and threats to achieve long-term goals.
This document provides an overview of strategic management concepts including strategy, vision, mission, objectives, goals, the strategic management process, corporate planning, and strategic business units. Some key points:
1. Strategy involves consciously choosing a company's direction and responding proactively to changes. A vision describes what a company aspires to become, while a mission explains what it is and why it exists.
2. Objectives are long-term goals that support the mission, while goals are more specific and short-term. The strategic management process consists of environmental scanning, strategy formulation, implementation, and evaluation.
3. Corporate planning is a comprehensive process undertaken by top management to guide the company towards its objectives. Strateg
Strategic Mangement For Under Grad AnimatedUlhas Wadivkar
The document discusses strategic management, including definitions, levels of decisions, roles of strategists, and the strategic management process. It defines strategic management as determining goals and courses of action to achieve them. Strategic decisions are made at various levels from corporate to functional. Strategists include the board, CEO, managers, and consultants. The strategic management process involves defining vision and mission, analyzing the environment, setting objectives and strategies, implementing plans, and evaluating performance.
This document provides an overview of strategic management concepts including:
- Defining strategic management as focused on developing competitive advantage through formulation, implementation, and evaluation of strategies.
- Outlining the strategic management process of analyzing the internal/external environment, formulating strategy, implementing strategy, and evaluating performance.
- Explaining the importance of strategic management in providing direction, coordination, and focus to achieve organizational goals.
Corporate level strategies involve decisions about an organization's overall goals and approach to growth, stability, or reduction. They include intensification strategies like market penetration, product development, and innovation or diversification strategies that are concentric, conglomerate, forward, or backward. Business level strategies focus on a single business unit and involve pursuing cost leadership, differentiation, or focus. Effective strategic implementation requires allocating resources through budgets, structuring the organization appropriately, and managing projects to accomplish goals.
Strategic management involves ongoing formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives in light of internal and external environments. Key terms in strategic management include strategists who are responsible for organizational success or failure, mission statements that identify an organization's scope and values, and external opportunities and threats from trends outside an organization's control. Environmental scanning involves researching external information on opportunities and threats as well as analyzing internal strengths and weaknesses.
Strategic management involves the formulation, implementation, evaluation, and control of strategies to achieve organizational goals. It operates at the corporate, strategic business unit, and functional levels. Strategic decision making considers objectives, alternatives to meet objectives, evaluation of alternatives, and selection of the best alternative. Schools of strategic management thought include prescriptive schools that view strategy as conception, planning, or analysis, descriptive schools that see strategy as visionary, mental, emergent, collective, cultural, or reactive, and integrative schools that view strategy as a process of transformation.
This document provides an overview of strategic management and strategy. It discusses key concepts including:
- Strategy involves achieving competitive advantage by meeting customer needs better than rivals.
- Strategic management consists of strategy analysis, formulation, and implementation. These elements are interdependent.
- Strategy analysis evaluates the external environment and internal capabilities to determine how well positioned an organization is.
- Strategy formulation takes place at the business and corporate levels based on strategic analysis and creative insights.
- Strategy implementation requires effective communication and a flexible organizational culture.
- Corporate, business, and functional strategies operate at different levels within an organization.
This document discusses strategic management and the strategic planning process. It defines strategy and outlines three levels of strategy: corporate, business unit, and functional. It then describes the strategic planning process, which includes establishing strategic intent, conducting an environmental scan involving internal and external analysis, and formulating strategy by defining the mission and objectives. The process aims to help organizations effectively manage opportunities and threats to achieve long-term goals.
This document provides an overview of strategic management concepts including strategy, vision, mission, objectives, goals, the strategic management process, corporate planning, and strategic business units. Some key points:
1. Strategy involves consciously choosing a company's direction and responding proactively to changes. A vision describes what a company aspires to become, while a mission explains what it is and why it exists.
2. Objectives are long-term goals that support the mission, while goals are more specific and short-term. The strategic management process consists of environmental scanning, strategy formulation, implementation, and evaluation.
3. Corporate planning is a comprehensive process undertaken by top management to guide the company towards its objectives. Strateg
Strategic Mangement For Under Grad AnimatedUlhas Wadivkar
The document discusses strategic management, including definitions, levels of decisions, roles of strategists, and the strategic management process. It defines strategic management as determining goals and courses of action to achieve them. Strategic decisions are made at various levels from corporate to functional. Strategists include the board, CEO, managers, and consultants. The strategic management process involves defining vision and mission, analyzing the environment, setting objectives and strategies, implementing plans, and evaluating performance.
This document provides an overview of strategic management concepts including:
- Defining strategic management as focused on developing competitive advantage through formulation, implementation, and evaluation of strategies.
- Outlining the strategic management process of analyzing the internal/external environment, formulating strategy, implementing strategy, and evaluating performance.
- Explaining the importance of strategic management in providing direction, coordination, and focus to achieve organizational goals.
This document discusses strategic management concepts including strategy formation at the corporate, business unit, and functional levels. It defines strategy and explains that corporate strategy is concerned with the selection and coordination of businesses a company competes in. Business unit strategy focuses on developing competitive advantage within product/service lines. Functional strategy involves coordinating resources to execute business unit strategies. The strategic management process involves environmental scanning, strategy formulation, implementation, and evaluation. Stakeholders in a business include shareholders, creditors, managers, employees, suppliers, customers, community and government. Vision and mission statements provide direction for organizational goals, while objectives and goals specify targets to achieve the vision and mission.
Strategy involves determining long-term goals and objectives and adopting plans to achieve them. There are three levels of strategy: corporate, business unit, and functional. Corporate strategy focuses on selecting business portfolios and coordinating them. Business unit strategy develops competitive advantages for specific goods/services. Functional strategy coordinates resources to efficiently execute higher-level strategies. Strategic management is the process of formulating, implementing, and evaluating cross-functional decisions to achieve objectives. It involves environmental scanning, strategy formulation, implementation through programs and budgets, and feedback.
Strategy refers to a long-term plan to help an organization deal with its competitive environment and defeat competitors. Strategies are designed to improve an organization's relationship with its external environment and set the overall direction. Strategy provides a framework for other operational plans at the corporate, business, and functional levels. It involves determining the organization's mission, identifying objectives, analyzing the environment and organization, developing alternative strategies, evaluating alternatives, choosing the best strategy, implementing it, and following up.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
The document discusses various aspects of strategy implementation including:
1. Strategy implementation requires integrating people, structure, processes and resources to achieve organizational objectives.
2. There are different organizational structures that can be used including functional, divisional, strategic business unit and matrix structures.
3. The McKinsey 7S model analyzes seven key internal elements including strategy, structure, systems, staffing, skills, style and shared values that must be aligned for effective strategy implementation.
Strategic management is the process of specifying an organization's objectives, developing policies to achieve those objectives, and allocating resources to implement the policies. It involves environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Strategic decisions are made at the corporate, business unit, and functional levels. Strategic intent is reflected through an organization's vision, mission, objectives, and goals. The strategic management process involves analyzing the environment, identifying strategic alternatives, choosing a strategy, implementing it, and evaluating performance. Mintzberg proposed that strategies can emerge through deliberate planning or as patterns from actions and decisions over time.
The document discusses strategic management and the importance of strategy for businesses in a dynamic competitive environment. It defines key terms like hypercompetition, strategic management, vision and mission statements, and strategic goals and objectives. Due to constantly changing business conditions, unpredictable customer behaviors, and cut-throat competition, strategic management is needed for organizations to survive, focus efforts, and avoid deviations from their targets. The strategic management process involves strategic analysis, decision-making, formulation, implementation, and control.
The document provides an overview of strategic management. It discusses that strategic management involves environmental scanning, strategy formulation, implementation, evaluation and control. It examines strategy at the corporate, business unit, and functional levels. The strategic management process includes environmental scanning (external and internal), strategy formulation involving defining the mission, objectives and strategies, and then strategy implementation.
Isr dis45001 guide - occupational health and safetyindseach
This document provides an overview and summary of key changes between the OHSAS 18001 standard and the new ISO 45001 standard for occupational health and safety management systems. Some of the main changes highlighted include a new annex structure for easier integration with other ISO standards, greater emphasis on leadership and worker participation, more robust processes for hazard identification and risk assessment, and requirements for maintaining up-to-date documented information. The ISO 45001 standard provides a framework to help organizations prevent work-related injuries and improve employee health and safety.
This document discusses organizational direction and how it is established through mission statements and objectives. It defines organizational mission as the purpose for an organization's existence and objectives as targets an organization aims to reach. Objectives provide direction and should be specific, achievable, measurable, and consistent with the long-term mission. The document outlines key areas objectives can focus on and stresses the importance of reflecting on environmental factors when establishing mission and objectives.
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
The document summarizes key points from Chapter 9 of a management textbook on strategic planning and competitiveness. It discusses the strategic management process, including strategy formulation and implementation. It also covers different types of strategies used by organizations, such as growth, diversification, restructuring, global, and cooperative strategies. The strategic management process involves assessing the organization, industry, and environment to develop strategies that create competitive advantage.
This document discusses strategic decision making in organizations. It defines strategic decisions as those that are long-term, require significant resources, and affect the organization's prosperity. Strategic decisions relate to an organization's future, scope of activities, competitive advantage, strategic fit, resources, stakeholders, and dealing with complexity and uncertainty. The document contrasts strategic decisions which are long-term and affect the whole organization, with tactical decisions which implement strategies, and operational decisions which are short-term and routine. It discusses analyzing an organization's environment, capabilities, stakeholder expectations, and culture to determine strategic positioning. Organizations must evaluate options and make strategic choices regarding products, markets, and growth strategies. Tools like SWOT analysis and Porter's Five Forces
The document outlines the strategic management process which involves 3 phases - strategy formulation, implementation, and evaluation and control. Strategy formulation includes determining the organization's mission and objectives, conducting a SWOT analysis, generating strategic alternatives, and selecting strategies. Implementation involves operationalizing the strategies. Evaluation and control examines whether objectives are being met and allows for corrective actions. Benefits of strategic management include envisioning the future, clarifying objectives, improving dynamics and responsiveness to the environment.
The strategic management process(an overview)jawalala
The document outlines the five tasks of strategic management: 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 making corrections. It provides details on each task, including developing a vision for the future direction of the company, setting financial and strategic objectives, determining how to achieve objectives through strategic choices around business focus, competitive advantage, and responding to the market, and evaluating performance to improve strategy. Crafting strategy is presented as both a planned process and a reactive one that adapts to changing conditions.
The document outlines the strategic management model process, including initiation of strategy, environmental scanning, strategy formulation, implementation, and evaluation/control. Environmental scanning involves monitoring internal/external factors. Strategy formulation determines corporate, directional, and growth/stability strategies. Implementation develops programs, budgets, and procedures to execute strategies. Evaluation/control compares actual to desired performance and takes corrective action.
Strategic management involves environmental scanning, strategy formulation, implementation, and evaluation to achieve organizational success. It integrates functions to determine long-term performance. Strategic management includes analyzing internal/external factors, formulating mission/objectives/strategies, implementing programs/budgets/procedures, and monitoring performance against goals. The process aims to clarify vision, focus on priorities, and understand a rapidly changing environment.
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.
This document provides an overview of strategic management. It begins by defining strategic management and describing the strategic management process, which includes strategy formulation, implementation, and evaluation. It then discusses integrating analysis and intuition in strategic management. The rest of the document covers topics like the objectives and stages of strategic management, key terms, strategies used by companies in 2011, benefits and pitfalls of strategic management, and comparisons to military strategy.
This document provides an overview of strategic management concepts including strategy formation at the corporate, business unit, and functional levels. It discusses key elements of strategic management like stakeholders, vision/mission statements, and the strategic management process.
The strategic management process involves environmental scanning, strategy formulation, implementation through programs/budgets/procedures, and evaluation/control. Vision statements provide long-term direction while mission statements define the organization's purpose. Stakeholders like shareholders, employees, customers impact and are impacted by business decisions.
This document provides an overview of strategic management concepts including strategy, strategic management, SWOT analysis, and different types of business-level and corporate-level strategies. It discusses strategy formulation, implementation, and evaluation. Key points covered include the nature of strategic management, types of strategic alternatives like diversification, integration and concentration strategies. Frameworks for analyzing strengths, weaknesses, opportunities and threats are presented. Porter's generic strategies of cost leadership, differentiation and focus are also summarized. The document aims to help students understand the principles of strategic management and strategy planning.
This document discusses strategic management concepts including strategy formation at the corporate, business unit, and functional levels. It defines strategy and explains that corporate strategy is concerned with the selection and coordination of businesses a company competes in. Business unit strategy focuses on developing competitive advantage within product/service lines. Functional strategy involves coordinating resources to execute business unit strategies. The strategic management process involves environmental scanning, strategy formulation, implementation, and evaluation. Stakeholders in a business include shareholders, creditors, managers, employees, suppliers, customers, community and government. Vision and mission statements provide direction for organizational goals, while objectives and goals specify targets to achieve the vision and mission.
Strategy involves determining long-term goals and objectives and adopting plans to achieve them. There are three levels of strategy: corporate, business unit, and functional. Corporate strategy focuses on selecting business portfolios and coordinating them. Business unit strategy develops competitive advantages for specific goods/services. Functional strategy coordinates resources to efficiently execute higher-level strategies. Strategic management is the process of formulating, implementing, and evaluating cross-functional decisions to achieve objectives. It involves environmental scanning, strategy formulation, implementation through programs and budgets, and feedback.
Strategy refers to a long-term plan to help an organization deal with its competitive environment and defeat competitors. Strategies are designed to improve an organization's relationship with its external environment and set the overall direction. Strategy provides a framework for other operational plans at the corporate, business, and functional levels. It involves determining the organization's mission, identifying objectives, analyzing the environment and organization, developing alternative strategies, evaluating alternatives, choosing the best strategy, implementing it, and following up.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
The document discusses various aspects of strategy implementation including:
1. Strategy implementation requires integrating people, structure, processes and resources to achieve organizational objectives.
2. There are different organizational structures that can be used including functional, divisional, strategic business unit and matrix structures.
3. The McKinsey 7S model analyzes seven key internal elements including strategy, structure, systems, staffing, skills, style and shared values that must be aligned for effective strategy implementation.
Strategic management is the process of specifying an organization's objectives, developing policies to achieve those objectives, and allocating resources to implement the policies. It involves environmental scanning, strategy formulation, strategy implementation, and evaluation and control. Strategic decisions are made at the corporate, business unit, and functional levels. Strategic intent is reflected through an organization's vision, mission, objectives, and goals. The strategic management process involves analyzing the environment, identifying strategic alternatives, choosing a strategy, implementing it, and evaluating performance. Mintzberg proposed that strategies can emerge through deliberate planning or as patterns from actions and decisions over time.
The document discusses strategic management and the importance of strategy for businesses in a dynamic competitive environment. It defines key terms like hypercompetition, strategic management, vision and mission statements, and strategic goals and objectives. Due to constantly changing business conditions, unpredictable customer behaviors, and cut-throat competition, strategic management is needed for organizations to survive, focus efforts, and avoid deviations from their targets. The strategic management process involves strategic analysis, decision-making, formulation, implementation, and control.
The document provides an overview of strategic management. It discusses that strategic management involves environmental scanning, strategy formulation, implementation, evaluation and control. It examines strategy at the corporate, business unit, and functional levels. The strategic management process includes environmental scanning (external and internal), strategy formulation involving defining the mission, objectives and strategies, and then strategy implementation.
Isr dis45001 guide - occupational health and safetyindseach
This document provides an overview and summary of key changes between the OHSAS 18001 standard and the new ISO 45001 standard for occupational health and safety management systems. Some of the main changes highlighted include a new annex structure for easier integration with other ISO standards, greater emphasis on leadership and worker participation, more robust processes for hazard identification and risk assessment, and requirements for maintaining up-to-date documented information. The ISO 45001 standard provides a framework to help organizations prevent work-related injuries and improve employee health and safety.
This document discusses organizational direction and how it is established through mission statements and objectives. It defines organizational mission as the purpose for an organization's existence and objectives as targets an organization aims to reach. Objectives provide direction and should be specific, achievable, measurable, and consistent with the long-term mission. The document outlines key areas objectives can focus on and stresses the importance of reflecting on environmental factors when establishing mission and objectives.
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
The document summarizes key points from Chapter 9 of a management textbook on strategic planning and competitiveness. It discusses the strategic management process, including strategy formulation and implementation. It also covers different types of strategies used by organizations, such as growth, diversification, restructuring, global, and cooperative strategies. The strategic management process involves assessing the organization, industry, and environment to develop strategies that create competitive advantage.
This document discusses strategic decision making in organizations. It defines strategic decisions as those that are long-term, require significant resources, and affect the organization's prosperity. Strategic decisions relate to an organization's future, scope of activities, competitive advantage, strategic fit, resources, stakeholders, and dealing with complexity and uncertainty. The document contrasts strategic decisions which are long-term and affect the whole organization, with tactical decisions which implement strategies, and operational decisions which are short-term and routine. It discusses analyzing an organization's environment, capabilities, stakeholder expectations, and culture to determine strategic positioning. Organizations must evaluate options and make strategic choices regarding products, markets, and growth strategies. Tools like SWOT analysis and Porter's Five Forces
The document outlines the strategic management process which involves 3 phases - strategy formulation, implementation, and evaluation and control. Strategy formulation includes determining the organization's mission and objectives, conducting a SWOT analysis, generating strategic alternatives, and selecting strategies. Implementation involves operationalizing the strategies. Evaluation and control examines whether objectives are being met and allows for corrective actions. Benefits of strategic management include envisioning the future, clarifying objectives, improving dynamics and responsiveness to the environment.
The strategic management process(an overview)jawalala
The document outlines the five tasks of strategic management: 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 making corrections. It provides details on each task, including developing a vision for the future direction of the company, setting financial and strategic objectives, determining how to achieve objectives through strategic choices around business focus, competitive advantage, and responding to the market, and evaluating performance to improve strategy. Crafting strategy is presented as both a planned process and a reactive one that adapts to changing conditions.
The document outlines the strategic management model process, including initiation of strategy, environmental scanning, strategy formulation, implementation, and evaluation/control. Environmental scanning involves monitoring internal/external factors. Strategy formulation determines corporate, directional, and growth/stability strategies. Implementation develops programs, budgets, and procedures to execute strategies. Evaluation/control compares actual to desired performance and takes corrective action.
Strategic management involves environmental scanning, strategy formulation, implementation, and evaluation to achieve organizational success. It integrates functions to determine long-term performance. Strategic management includes analyzing internal/external factors, formulating mission/objectives/strategies, implementing programs/budgets/procedures, and monitoring performance against goals. The process aims to clarify vision, focus on priorities, and understand a rapidly changing environment.
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.
This document provides an overview of strategic management. It begins by defining strategic management and describing the strategic management process, which includes strategy formulation, implementation, and evaluation. It then discusses integrating analysis and intuition in strategic management. The rest of the document covers topics like the objectives and stages of strategic management, key terms, strategies used by companies in 2011, benefits and pitfalls of strategic management, and comparisons to military strategy.
This document provides an overview of strategic management concepts including strategy formation at the corporate, business unit, and functional levels. It discusses key elements of strategic management like stakeholders, vision/mission statements, and the strategic management process.
The strategic management process involves environmental scanning, strategy formulation, implementation through programs/budgets/procedures, and evaluation/control. Vision statements provide long-term direction while mission statements define the organization's purpose. Stakeholders like shareholders, employees, customers impact and are impacted by business decisions.
This document provides an overview of strategic management concepts including strategy, strategic management, SWOT analysis, and different types of business-level and corporate-level strategies. It discusses strategy formulation, implementation, and evaluation. Key points covered include the nature of strategic management, types of strategic alternatives like diversification, integration and concentration strategies. Frameworks for analyzing strengths, weaknesses, opportunities and threats are presented. Porter's generic strategies of cost leadership, differentiation and focus are also summarized. The document aims to help students understand the principles of strategic management and strategy planning.
The document provides an overview of strategic management. It defines strategic management as managing an organization's resources to achieve goals and objectives. The process involves setting objectives, analyzing the competitive environment and internal organization, evaluating strategies, and implementing strategies across the organization. An example is given of a technical college using strategic management to increase enrollment and graduation rates over three years to boost revenue. The four processes of strategic management are also outlined.
This document discusses strategic management and business policy. It begins by defining strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It then discusses the nature, characteristics, and features of strategic management, including that it involves a long time perspective, is an intellectual process, has wide ramifications, and is a continuing dynamic social process. The document goes on to discuss the importance and relevance of strategic management, including its financial and non-financial benefits. It closes by emphasizing the importance of effective strategic management for business success.
In this lesson you learned that in diversified company’s, crafting a company’s fully-fledged strategy involves four distinct types of strategic actions and initiatives – i.e. Corporate Strategy, Business Strategy, Functional Unit Strategy and Operational Strategy.
The document discusses various types of organizational structures and their strategic advantages and disadvantages. It describes functional, divisional, geographic, customer-based, and matrix structures. Strategy is a key consideration in organizational design, as the goal is to configure structures, processes, and people to effectively achieve the business strategy. The multidivisional structure emerged to address coordination problems in functional structures as companies grew more complex. Overall, the optimal structure depends on factors like the business strategy, industry environment, and organizational capabilities.
Corporate level strategies are the highest level of strategic planning within an organization. These strategies focus on the overall direction and scope of the entire organization, addressing questions like which industries to compete in, how to allocate resources, and how to achieve synergy among various business units. The Portfolio Approach, Core Competence Approach, Expansion Strategy, and Retrenchment Strategy are four significant corporate-level strategies.
The document provides an overview of strategic management. It discusses key concepts like strategy, the strategic management process, and analyzing the external environment. Specifically:
1) Strategy is a plan to achieve organizational goals in the face of challenges and competition. The strategic management process involves formulation, implementation, and evaluation of strategy.
2) Analyzing the external environment is important to understand opportunities and threats. This includes analyzing political, economic, social, and technological factors. Both qualitative and quantitative forecasting techniques are used.
3) Industry and competitive analysis examines a firm's industry structure and factors for success. This helps identify opportunities and benchmarks for evaluating the company versus competitors.
This document summarizes key concepts in strategic management including:
1) Strategic management involves formulating and implementing strategies to achieve organizational goals and gain a competitive advantage.
2) Grand strategies include growth, stability, and retrenchment while global strategies include globalization, multinational, and transnational approaches.
3) Strategy formulation occurs at the corporate, business unit, and functional levels and involves analyzing strengths, weaknesses, opportunities, and threats.
4) Implementing strategies requires changes to organizational structure, leadership, culture, and information systems.
The document provides an overview of organizational structure and strategy concepts. It discusses departmentalization approaches, authority structures, job design methods, and ways companies are redesigning internal and external organizational processes. It also describes the components of competitive advantage and the strategy making process, including different corporate, industry, and firm-level strategies.
Strategic Purpose
Business Level Strategy
Corporate Level and International Strategy
Strategy Direction and Methods of Developments
Organizing for Strategy Success
Enabling Strategy Success
Managing Strategic Change
Understanding Strategy Development
Key Learning Points
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.
The document discusses strategic planning and management. It defines strategic management as formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It notes that strategic management helps organizations succeed by guiding them to achieve strategic goals in light of internal and external factors. The strategic management process consists of three stages: strategy formulation, implementation, and evaluation.
Strategic Planning by Ms. Negradas, Nelyn1989RMSanchez
This document discusses the differences between corporate strategy and functional strategy. Corporate strategy refers to the overall goals and direction of an entire organization, while functional strategy focuses on the strategies for individual departments like marketing, finance, and operations. Corporate strategy is concerned with issues like the industries and businesses the organization competes in, how business units are integrated and managed, and competitive positioning. Functional strategy involves developing resources to efficiently execute business unit strategies in areas like business processes and the value chain.
Strategic analysis refers to the process of conducting research on a company and its operating environment to formulate a strategy. It involves identifying relevant data, defining internal/external environments, and using analytical tools like Porter's five forces analysis, SWOT analysis, value chain analysis, and portfolio matrices. Key elements of strategic analysis include assessing a company's resources, capabilities, competitive advantages, performance gaps, and developing strategies to improve its position.
The document provides an overview of strategic management. It discusses key concepts including environmental scanning, strategy formulation, implementation, evaluation and control. For strategy formulation, it describes analyzing the internal/external environment, developing a mission/objectives, and choosing strategies. It also discusses different levels of strategy (corporate, business, functional) and different types of strategies such as competitive strategies. The document is from a management science course and provides definitions and explanations of strategic management principles and processes.
The document discusses strategies for scaling up a business to the next level. It outlines a 5-step process for scaling up: 1) evaluate current operations, 2) determine how to scale up through new positions, 3) scale up capacities, competencies and capabilities, 4) implement new structures, processes and ownership models, and 5) establish outcome and impact measures. Key aspects of scaling up include increasing current capabilities and offerings, strengthening talent, automating tasks, and integrating functions through improved structures and processes. Measurement of outputs, outcomes and impact is important to evaluate scaling up efforts and make adjustments.
The document provides an overview of strategic management. It defines strategic management and discusses its importance, advantages, and disadvantages. It also outlines the strategic management process, which includes determining strategic position, choosing a strategy, and implementing the strategy. Additionally, it covers various strategy types at the corporate, business, functional, and operational levels. The document discusses concepts like competitive advantage, the McKinsey 7S framework, portfolio strategy, and strategic choice. It also examines tools for strategic analysis like PESTEL analysis, SWOT analysis, value chain analysis, and environmental scanning techniques.
The document discusses the three levels of strategy in organizations: corporate level, business level, and functional level. At the corporate level, strategies deal with questions about the scope and direction of the organization. There are three types of corporate strategies: growth, portfolio, and parenting. Business level strategies focus on achieving competitive advantage in each business unit. Functional level strategies are specific to each functional area like production, marketing, finance, and human resources. All strategies across levels must be internally consistent and supportive of the organization's overall objectives.
Lesson 1 monitoring new external developments, evaluating progress and making...Samuel Lee Mohan
In this lesson you learned that monitoring and tracking performance is the fifth element in the strategy management process. You also learned that effective strategy passes the three tests of Good fit, competitive advantage and strong performance.
In this lesson you learned that the most demanding and time consuming part of the strategy management process is managing the execution of the strategy. You also learned about the ten key principle aspects required to effectively execute strategy.
Lesson 3 strategic vision plus objectives plus strategy equals strategic planSamuel Lee Mohan
In this lesson you learned that a company’s strategic vision and mission, company objectives and crafting a strategy are basic direction-setting tasks. You also learned that in most small businesses, strategic plans reside in owners’ thinking and directives given to company staff.
Lesson 1 strategy making involves business owners and managers at all levelsSamuel Lee Mohan
In this lesson you learned that a company’s first line management team have lead strategy-making roles and responsibilities and that in small businesses, the business owner is accountable for the results of the chosen strategy. You also learned that the strategy-making and implementation process is a collaborative team effort.
Lesson 2 a balanced approach to setting objectivesSamuel Lee Mohan
In this lesson you learned that a balanced approach to setting objectives involves Financial and Strategic objectives. You also learned that financial objectives are lag indicators while strategic objectives are lead objectives.
In this lesson you learned that the purpose of setting objectives are to convert a company’s vision and mission into specific performance targets. You also learned the importance of a balanced approach to setting objectives which include Financial and Strategic objectives.
Lesson 3 linking the vision and mission with company valuesSamuel Lee Mohan
In this lesson you learned that a company’s values are the beliefs, traits and behavioural norms that guide a company's pursuit of its vision and mission. You also learned that values can be connected to a company’s vision, mission, and strategy in one of two ways, i.e. values drive vision and mission or values are determined based on a company’s selected vision and mission.
In this lesson you learned that a company’s Mission statement is distinctly different from its Vision and that it describes “who we are, what we do, and why we here”. You also learned that uninformative mission statements are unclear and persons unfamiliar with the company’s cannot gather “who you are, what you do, and why you are here”.
Lesson 1 developing and communicating a strategic visionSamuel Lee Mohan
In this lesson you learned that a vivid description of a business owners’ or management’s aspirations for the future and delineates the company’s strategic course and long term direction. You also learned that a company’s Vision is unless unless it is effectively communicated to lower levels of management and staff, company-wide.
In this lesson you learned that Ethics concerns standards of right and wrong. You learned that Business ethics concerns the application of ethical principles to the actions and decisions of companies and the conduct of personnel. You also learned that Corporate Social Responsibility and the Triple Bottom Line performance measures are good ethical frameworks.
This document discusses the challenges of strategic management. It notes that strategies must prevent drift over time and address contemporary issues like internationalization, e-commerce, and knowledge management. Specifically, it outlines how to prevent strategic drift by encouraging diverse perspectives, championing innovation, promoting an external focus, and monitoring performance. It also explains how understanding cultural nuances, efficiency concerns, and other issues are important for internationalization strategies. Finally, it emphasizes that successful strategies require both design and implementation through building capabilities, culture, resource allocation, and motivating employees.
In this lesson you learned about the the different contexts for strategy across the four types of businesses. You learned that a small business can be constrained by limited funds and strategic capabilities and they generally service niches markets with limited product/service ranges.
This document discusses strategy development processes. It explains that intended strategies are deliberate plans created by management, while emergent strategies develop in response to new environmental factors. Intended strategies are detailed in strategic plans or business plans. However, most companies adapt their strategies over time in response to changes. Emergent strategies can result from unexpected opportunities or challenges and sometimes lead companies in new directions. While emergent strategies sometimes fail, they can also result in tremendous success if companies respond appropriately to new situations. Ultimately, both intended and emergent strategies contribute to a company's realized strategy over time.
In this lesson you learned about the three generic strategies that every business employs. You learned that a low-cost strategy competes on price whilst a differentiation strategy competes on uniqueness and focus strategy aims at servicing a market niche.
In this lesson you learned about the focus areas of determining a company’s strategic position and thereafter communicating its purpose to stakeholders. You learned that a company’s strategic position can be determined using tools such as PESTEL and SWOT analysis.
In this lesson you learned the three fundamental elements of strategic management. You learned that a company must understand it strategic position relative to its competitors in order to determine its strategic choices before turning its strategy into action.
Lesson 2 strategic management and operational managementSamuel Lee Mohan
In this lesson you learned that Operational Management exist within a company’s overall strategy. You also learned that Strategic Management is concerned with the long-term planning in a company and operational management is concerned with day-to-day tasks and activities.
In this lesson you learned that there are four levels of strategy-making which includes Corporate Level, Business Unit Level, Functional Unit Level and Operational Level. You also learned that developing strategy is a collaborative team effort in which every manager has a role for the area he or she is responsible for.
Strategy involves an organization's action plan for outperforming competitors through integrated choices about how to compete. These choices include how to attract and please customers, compete against rivals, position in the marketplace, and respond to changing conditions to capitalize on opportunities and achieve performance targets. Strategy determines an organization's direction, scope, and competitive moves over the long term to achieve advantage through its resources and fulfill stakeholder expectations. Strategic management involves strategic decision making about products, services, markets, and choices to determine organizational direction and competitive approaches. Effective strategic decisions concern an organization's long-term direction, scope of activities, gaining advantage over competitors, and addressing changes in the business environment.
The document discusses the three foundational elements of strategic management:
1. The strategic position of a company within its industry, whether it is a low-cost provider or differentiator.
2. The strategic choices a company makes in deploying its finite resources, such as products/services, markets, and distribution channels.
3. Putting the strategy into action by structuring the organization, allocating resources, and managing change based on strategic position and choices.
2. Chapter 3. Aligning Strategy
to the Company’s External
and Internal Situation
Lesson 3: Strategy into Action
3. “A winning strategy must fit the company’s
external and internal situation, build
sustainable competitive advantage, and
improve company performance and be
based on awareness of the lens through
which it is perceived.”
Unknown
4. Strategy
into action
Structuring the organisation to support
strategy.
Marshalling resources (E.g. people,
information, finance, technology).
Managing change.
5. Strategy
into action
Structuring the organisation to support strategy.
Structuring a company to support its strategy includes:
Organizing value chain activities and business process,
Establishing lines of authority and reporting relationships, and
Deciding how much decision-making authority to delegate to lower-
level managers and frontline staff.
The design of a company’s organisation structure is a critical
aspect of the strategy execution process.
Organisation structure comprises the formal and informal
arrangements of tasks, responsibilities, and lines of authority and
communication by the company is administered.
6. Strategy
into action
Structuring the organisation to support strategy.
Structuring a company’s value chain activities to support its
strategy is a critical component to effective strategy execution.
Aside from the fact that an external company may be able to perform
certain value chain activities better or cheaper than a company can
perform them internally, outsourcing can also sometimes make a positive
contribution to strategy execution.
Outsourcing selected value chain activities enables a company to
heighten its strategic focus and concentrate its full energy on
performing value chain activities that are at the core of its strategy.
For example. E & J. Gallo Winery outsourced 95% of its grape production
letting farmers take on weather-related and other grape growing risks,
while it concentrated its full energy on wine production and sales.
7. Strategy
into action
Structuring the organisation to support strategy.
Organisation structures can be can be classified into a limited number of
standard types. The type that is most suitable for a given company will
depend on the company’s size and complexity as well as its strategy.
Simple structure. A simple structure is one in which a central executive (often the
owner-manager) handles all major decisions and overseas the operations of the
company with the help of a small staff.
Functional structure. A functional structure is one that is organized along
functional lines, where a function represents a major component of a company’s
value chain, such as R&D, Engineering and design, manufacturing etc.
Multidivisional structure. A multidivisional structure is a decentralized structure
consisting of a set of operating divisions organized along market, customer,
product, or geographical lines, along with a central corporate headquarters.
Matrix structure. A matrix structure is a combination structure in which the
company is organized along two or more dimensions at once (e.g. business,
geographic area, value chain function) for the purpose of enhancing cross-unit
communication, collaboration, and coordination.
8. Strategy
into action
Marshalling resources (E.g. people, information,
finance, technology).
High among the company-building priorities is the Strategy
into Action process is the need to build and strengthen
competitively valuable resources and capabilities.
If the strategy being implemented is new, company owners
and managers may have to:
acquire new resources,
significantly broaden or deepen certain capabilities, or even
add entirely new competencies in order to put the strategic
initiatives in place and execute them proficiently.
9. Strategy
into action
Marshalling resources (E.g. people, information,
finance, technology).
There are three approaches to building and strengthening
capability.
Developing capabilities internally. Capabilities can be developed
infernally but it is developed incrementally along an evolutionary path
as company search for solutions to their problems.
Acquiring capabilities through Mergers and Acquisitions. Sometimes
a company can refresh and strengthen its competencies by acquiring
another company with attractive resources and capabilities.
Accessing capabilities through Collaborative Partnerships. Another
method of acquiring capabilities from an external source is to access
them via collaborative partnerships with suppliers, competitors, or
other companies having the cutting-edge expertise.
10. Strategy
into action
Managing change.
The way for a company to begin execution of its major strategy is by
selling company personnel on the need for new-style behaviors and
work practices.
This means making a compelling case for why the new direction efforts are
in the company’s best interest and why company personnel should
wholeheartedly join the effort to doing things somewhat differently. This
can be done by:
Explaining why and how certain behaviors and work practices in the
current culture pose obstacles to good strategy execution.
Explaining how new behaviors and work practices will be more
advantageous and produce better results.
Citing reasons why the current strategy has to be modified. This includes
explaining why the new strategic initiatives will bolster the company’s
competitiveness and performance.
11. “Most strategies are a
combination of intended and
emergent processes.”
Karen | GBC
12. Congratulations! You’ve completed lesson .
Recap: In this lesson you learned about the three
fundamental areas of executing strategy. You learned that
reviewing Value chain activities, Marshalling resources and
Managing change are the main components to effectively
put Strategy Into Action.
Awesome work!
Now click Complete and then Next for Chapter 4.