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Amie Kusumawardhani
 Hitt, Michael A., Ireland, Duane R. and Hoskisson,
Robert E. (2007). “Strategic Management:
Competitiveness and Globalization”. South-
Western College Publishing.
 Pearce II, John A. and Robinson Jr., Richard B
(2004). “Strategic Management: Formulation,
Implementation, and Control”.
 David, Fred R. (2011) “Strategic Management:
Concepts and Cases”. Prentice Hall
Amie Kusumawardhani 2
Joel Ross and Michael Kami
“Quote”
© 2001 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Copyright
 is the study of why some firms outperform
others
◦ How to compete in order to create competitive
advantages in the marketplace
◦ How to create competitive advantages in the
market place
 Unique and valuable
 Difficult for competitors to copy or substitute
Amie Kusumawardhani 4
2
 A company’s strategy consists of the set of
competitive moves and business approaches that
management is employing to run the company
 Strategy is management’s “game plan” to
◦ Attract and please customers
◦ Stake out a market position
◦ Conduct operations
◦ Compete successfully
◦ Achieve organizational objectives
Amie Kusumawardhani 5
 Strategic management consists of the
analysis, decisions, and actions an
organization undertakes in order to create
and sustain competitive advantages (Hitt and
Ireland. 2007)
 Art & science of formulating, implementing,
and evaluating, cross-functional decisions
that enable an organization to achieve its
objectives (David, F. 2011)
Amie Kusumawardhani 6
 Directs the organization toward overall goals
and objectives.
 Includes multiple stakeholders in decision
making.
 Needs to incorporate short-term and long-term
perspectives.
 To achieve strategic competitiveness and
earning above-average returns
Amie Kusumawardhani 7
 Strategy formulation
 Strategy implementation
 Strategy evaluation
3
Copyright © 2011 Pearson
Education, Inc.
Publishing as Prentice HallCh 1 -9
Vision & Mission
Strategy Formulation
External Opportunities & Threats
Internal Strengths & Weaknesses
Long-Term Objectives
Alternative Strategies
Strategy Selection
Copyright © 2011 Pearson
Education, Inc.
Publishing as Prentice HallCh 1 -10
Issues in Strategy
Formulation
Businesses to enter
Businesses to abandon
Allocation of resources
Expansion or
diversification
International markets
Mergers or joint
ventures
Avoidance of hostile
takeover
Copyright © 2011 Pearson
Education, Inc.
Publishing as Prentice HallCh 1 -11
Strategy Implementation
Annual Objectives
Policies
Employee Motivation
Resource Allocation
Copyright © 2011 Pearson
Education, Inc.
Publishing as Prentice HallCh 1 -12
 Developing a strategy-supportive culture
 Creating an effective organizational structure
 Redirecting marketing efforts
 Preparing budgets
 Developing and utilizing information systems
 Linking employee compensation to organizational
performance
4
Copyright © 2011 Pearson
Education, Inc.
Publishing as Prentice HallCh 1 -13
Issues in Strategy
Implementation
Action Stage of Strategic
Management
Mobilization of
employees & managers
Most difficult stage
Interpersonal skills
critical
Copyright © 2011 Pearson
Education, Inc.
Publishing as Prentice HallCh 1 -14
Strategy Evaluation
Internal Review
External Review
Performance Measurement
Corrective Action
Amie Kusumawardhani 15
Company
Mission
Outside Stakeholders
Customers
Suppliers
Creditors
Governments
Unions
Competitors
Public
Inside Stakeholders
Executive officers
Board of Directors
Stockholders
Employees
 Strategic Competitiveness
◦ When a firm successfully formulates and implements a
value-creating strategy.
 Strategy
◦ An integrated and coordinated set of commitments and
actions designed to exploit core competencies and
gain a competitive advantage.
 Competitive Advantage
◦ When a firm implements a strategy that its competitors
are unable to duplicate or find too costly to try to
imitate.
© 2007 Thomson/South-
Western. All rights reserved.1–16
5
 Risk
◦ An investor’s uncertainty about the economic gains
or losses that will result from a particular investment.
 Average Returns
◦ Returns equal to those an investor expects to earn
from other investments with a similar amount of risk.
 Above-average Returns
◦ Returns in excess of what an investor expects to
earn from other investments with a similar amount of
risk.
© 2007 Thomson/South-
Western. All rights reserved.1–17
 Strategic Management Process
◦ The full set of commitments, decisions, and
actions required for a firm to achieve strategic
competitiveness and earn above-average
returns.
© 2007 Thomson/South-
Western. All rights reserved.1–18
1. Where are we now?
2. Where do we want to go?
◦ Business(es) to be in and market
positions to stake out?
◦ Buyer needs and groups to serve?
◦ Outcomes to achieve?
3. How do we get there?
Amie Kusumawardhani 19
 E.g., Dell, Amazon.com, eBay, on-line stores
 Affect business activities (marketing, production,
inventory & paperwork), suppliers management
and consumer behavior
 Affect the patterns of competitions among
companies
Amie Kusumawardhani 20
6
1. Industrial Organization (I/O) Model
the external environment should be the primary
determinants of a firm’s strategy actions. The key
to this model is identifying and competing
successfully in an attractive (i.e. profitable)
industry
2. Resource-based View Model
a firm’s unique resources and capabilities are the
critical link to strategic competitiveness
Amie Kusumawardhani 21
 Dominance of the External Environment
◦ The industry in which a firm competes has a stronger
influence on the firm’s performance than do the
choices managers make inside their organizations.
 Industry Properties Determining Performance
◦ Economies of scale
◦ Barriers to market entry
◦ Diversification
◦ Product differentiation
◦ Degree of concentration of firms in the industry
© 2007 Thomson/South-
Western. All rights reserved.1–22
 External environment imposes pressures and
constraints that determine strategies leading to
above-average returns.
 Most firms competing in an industry control similar
strategically relevant resources and pursue similar
strategies
 Resources used to implement strategies are highly
mobile across firms
 Organizational decision makers are assumed to be
rational and committed to acting in the firm’s best
interests (profit-maximizing)
Copyright © 2004 South-Western. All
rights reserved 23
Copyright © 2004 South-Western. All
rights reserved.
1–
24
1. Strategy dictated by
the external
environment of the
firm (what
opportunities exist in
these environments?)
2. Firm develops internal
skills required by
external environment
(what can the firm do
about the
opportunities?)
External Environments
General
Environment
7
 Industry Profitability
◦ The industry’s rate of return on invested capital relative
to its cost of capital
 An industry’s profitability results from interaction
among:
◦ Suppliers
◦ Buyers
◦ Competitive rivalry among firms currently in the
industry
◦ Product substitutes
◦ Potential entrants to the industry
© 2007 Thomson/South-
Western. All rights reserved.1–25
 Each organization is a collection of unique
resources and capabilities that provides the basis
for its strategy and that is the primary source of its
returns.
 Capabilities evolve and must be managed
dynamically.
 Differences in firms’ performances are due primarily
to their unique resources and capabilities rather
than structural characteristics of the industry.
 Firms acquire different resources and develop
unique capabilities.
© 2007 Thomson/South-
Western. All rights reserved.1–26
Copyright © 2004 South-
Western. All rights reserved.1–27
1. Strategy dictated by the
firm’s unique resources
and capabilities
2. Find an environment in
which to exploit these
assets (where are the
best opportunities?)
Firm’s Resources
 Resources
◦ Inputs into a firm’s
production process
 Capital equipment
 Skills of individual
employees
 Patents
 Finances
 Talented managers
 Capabilities
◦ Capacity of a set of
resources to perform in
an integrative manner
◦ A capability should not
be
 So simple that it is
highly imitable
 So complex that it
defies internal
steering and control
Copyright © 2004 South-
Western. All rights reserved.1–28
8
 When the four key criteria of resources and
capabilities are met, they become core
competencies
 Core competencies serve as a source of
competitive advantage
 Managerial competencies are especially important
Copyright © 2004 South-
Western. All rights reserved.1–29
© 2007 Thomson/South-
Western. All rights reserved.1–30
Core
Competencies
Valuable Rare
Costly to ImitateNonsubstitutable
Copyright © 2004 South-
Western. All rights reserved.1–31
The firm is organized appropriately to obtain
the full benefits of the resources in order to
realize a competitive advantage
Valuable Allow the firm to exploit opportunities or
neutralize threats in its external environment
Rare Possessed by few, if any, current and
potential competitors
Costly to imitate When other firms cannot obtain them or
must obtain them at a much higher cost
Nonsubstitutable
 Corporate level strategy
 Business level strategy
 Functional level strategy
Amie Kusumawardhani 32
9
Direktur
M.
Pemasaran
M.
Operasi
M.
Keuangan
Corporate/Business
Strategy
Functional
Strategy
Amie Kusumawardhani 33
CEO
Bisnis A Bisnis C
M. Pemasaran
Bisnis B
M. Keuangan
M. Operasi
M. SDM
Amie Kusumawardhani 34
Corporate
Strategy
Business
Strategy
Functional
Strategy
LEVELS OF STRATEGY
 Corporate level
• Determine overall scope of the organisation
• Add value to the different business units
• Meet expectations of stakeholders
 Business level (SBU)
• How to compete successfully in particular markets
 Functional/Operational
• How different parts of organisation deliver strategy
 Dirumuskan oleh Board Director/Top Manajemen
 Menjawab : “Bisnis apa yang akan dijalankan
perusahaan?” dan Bagaimana membangun keunggulan
kompetitif
 Meliputi :
- Sasaran masing-masing bisnis
- Tanggung jawab kinerja keuangan
- Alokasi sumber daya untuk mencapai sasaran
- Pencapaian tujuan perusahaan yang bersifat
nonfinansial (image perusahaan, tanggung jawab
sosial)
 Karakteristik : jangka panjang, fleksibel, resiko besar.
Amie Kusumawardhani 36
10
 Dirumuskan oleh Manajer Bisnis atau Manajer
Korporasi
 Diarahkan pada pengelolaan suatu bisnis tertentu
 Menjawab: “Bagaimana membangun keunggulan
kompetitif untuk perusahaan atau bisnis tertentu?”
 Meliputi :
- Produk yang akan ditawarkan
- Target pasar yang dilayani
- Menentukan daerah pemasaran, saluran distribusi
- Lokasi usaha
 Karakteristik : resiko relatif rendah, jangka pendek,
menyangkut biaya yang tidak terlalu besar karena
bergantung pada sumber daya yang tersedia
Amie Kusumawardhani 37
 Dirumuskan oleh masing-masing manajer
fungsional
 Lebih terinci sesuai dengan fungsi-fungsi
manajemen (pemasaran, operasi, keuangan,
personalia dan lain-lain)
 Jangka waktu relatif lebih pendek (sasaran
tahunan dan strategi jangka pendek)
 Perhatiannya pada doing the things right
(kalau manajer di tingkat korporasi dan bisnis :
doing the right things)
Amie Kusumawardhani 38
 Most strategic thought has been developed in
the US, based on that economy
 Most economies are unlike the US economy
 Issues faced by companies in smaller
countries:
 small local markets
 central role of government
 significant role of the public sector
 limited capital markets
 Factors that are unique to a country
 history of the country
 individual/national values
 political systems
 resource bases
 These factors combine to make each
country unique
11
 The infrastructure of countries varies
◦Ranging from almost none to highly developed societies
 Most countries significantly different to the US
◦Especially Middle Eastern and Asian countries
 Strong and consistent move in most countries towards
philosophies, policies and practices espoused in the west
and particularly the US
 The role of the public sector as a participant in industries
and also as a regulator varies

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Man stratejik introduction

  • 1. 1 Amie Kusumawardhani  Hitt, Michael A., Ireland, Duane R. and Hoskisson, Robert E. (2007). “Strategic Management: Competitiveness and Globalization”. South- Western College Publishing.  Pearce II, John A. and Robinson Jr., Richard B (2004). “Strategic Management: Formulation, Implementation, and Control”.  David, Fred R. (2011) “Strategic Management: Concepts and Cases”. Prentice Hall Amie Kusumawardhani 2 Joel Ross and Michael Kami “Quote” © 2001 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin Copyright  is the study of why some firms outperform others ◦ How to compete in order to create competitive advantages in the marketplace ◦ How to create competitive advantages in the market place  Unique and valuable  Difficult for competitors to copy or substitute Amie Kusumawardhani 4
  • 2. 2  A company’s strategy consists of the set of competitive moves and business approaches that management is employing to run the company  Strategy is management’s “game plan” to ◦ Attract and please customers ◦ Stake out a market position ◦ Conduct operations ◦ Compete successfully ◦ Achieve organizational objectives Amie Kusumawardhani 5  Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages (Hitt and Ireland. 2007)  Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives (David, F. 2011) Amie Kusumawardhani 6  Directs the organization toward overall goals and objectives.  Includes multiple stakeholders in decision making.  Needs to incorporate short-term and long-term perspectives.  To achieve strategic competitiveness and earning above-average returns Amie Kusumawardhani 7  Strategy formulation  Strategy implementation  Strategy evaluation
  • 3. 3 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice HallCh 1 -9 Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection Copyright © 2011 Pearson Education, Inc. Publishing as Prentice HallCh 1 -10 Issues in Strategy Formulation Businesses to enter Businesses to abandon Allocation of resources Expansion or diversification International markets Mergers or joint ventures Avoidance of hostile takeover Copyright © 2011 Pearson Education, Inc. Publishing as Prentice HallCh 1 -11 Strategy Implementation Annual Objectives Policies Employee Motivation Resource Allocation Copyright © 2011 Pearson Education, Inc. Publishing as Prentice HallCh 1 -12  Developing a strategy-supportive culture  Creating an effective organizational structure  Redirecting marketing efforts  Preparing budgets  Developing and utilizing information systems  Linking employee compensation to organizational performance
  • 4. 4 Copyright © 2011 Pearson Education, Inc. Publishing as Prentice HallCh 1 -13 Issues in Strategy Implementation Action Stage of Strategic Management Mobilization of employees & managers Most difficult stage Interpersonal skills critical Copyright © 2011 Pearson Education, Inc. Publishing as Prentice HallCh 1 -14 Strategy Evaluation Internal Review External Review Performance Measurement Corrective Action Amie Kusumawardhani 15 Company Mission Outside Stakeholders Customers Suppliers Creditors Governments Unions Competitors Public Inside Stakeholders Executive officers Board of Directors Stockholders Employees  Strategic Competitiveness ◦ When a firm successfully formulates and implements a value-creating strategy.  Strategy ◦ An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage.  Competitive Advantage ◦ When a firm implements a strategy that its competitors are unable to duplicate or find too costly to try to imitate. © 2007 Thomson/South- Western. All rights reserved.1–16
  • 5. 5  Risk ◦ An investor’s uncertainty about the economic gains or losses that will result from a particular investment.  Average Returns ◦ Returns equal to those an investor expects to earn from other investments with a similar amount of risk.  Above-average Returns ◦ Returns in excess of what an investor expects to earn from other investments with a similar amount of risk. © 2007 Thomson/South- Western. All rights reserved.1–17  Strategic Management Process ◦ The full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns. © 2007 Thomson/South- Western. All rights reserved.1–18 1. Where are we now? 2. Where do we want to go? ◦ Business(es) to be in and market positions to stake out? ◦ Buyer needs and groups to serve? ◦ Outcomes to achieve? 3. How do we get there? Amie Kusumawardhani 19  E.g., Dell, Amazon.com, eBay, on-line stores  Affect business activities (marketing, production, inventory & paperwork), suppliers management and consumer behavior  Affect the patterns of competitions among companies Amie Kusumawardhani 20
  • 6. 6 1. Industrial Organization (I/O) Model the external environment should be the primary determinants of a firm’s strategy actions. The key to this model is identifying and competing successfully in an attractive (i.e. profitable) industry 2. Resource-based View Model a firm’s unique resources and capabilities are the critical link to strategic competitiveness Amie Kusumawardhani 21  Dominance of the External Environment ◦ The industry in which a firm competes has a stronger influence on the firm’s performance than do the choices managers make inside their organizations.  Industry Properties Determining Performance ◦ Economies of scale ◦ Barriers to market entry ◦ Diversification ◦ Product differentiation ◦ Degree of concentration of firms in the industry © 2007 Thomson/South- Western. All rights reserved.1–22  External environment imposes pressures and constraints that determine strategies leading to above-average returns.  Most firms competing in an industry control similar strategically relevant resources and pursue similar strategies  Resources used to implement strategies are highly mobile across firms  Organizational decision makers are assumed to be rational and committed to acting in the firm’s best interests (profit-maximizing) Copyright © 2004 South-Western. All rights reserved 23 Copyright © 2004 South-Western. All rights reserved. 1– 24 1. Strategy dictated by the external environment of the firm (what opportunities exist in these environments?) 2. Firm develops internal skills required by external environment (what can the firm do about the opportunities?) External Environments General Environment
  • 7. 7  Industry Profitability ◦ The industry’s rate of return on invested capital relative to its cost of capital  An industry’s profitability results from interaction among: ◦ Suppliers ◦ Buyers ◦ Competitive rivalry among firms currently in the industry ◦ Product substitutes ◦ Potential entrants to the industry © 2007 Thomson/South- Western. All rights reserved.1–25  Each organization is a collection of unique resources and capabilities that provides the basis for its strategy and that is the primary source of its returns.  Capabilities evolve and must be managed dynamically.  Differences in firms’ performances are due primarily to their unique resources and capabilities rather than structural characteristics of the industry.  Firms acquire different resources and develop unique capabilities. © 2007 Thomson/South- Western. All rights reserved.1–26 Copyright © 2004 South- Western. All rights reserved.1–27 1. Strategy dictated by the firm’s unique resources and capabilities 2. Find an environment in which to exploit these assets (where are the best opportunities?) Firm’s Resources  Resources ◦ Inputs into a firm’s production process  Capital equipment  Skills of individual employees  Patents  Finances  Talented managers  Capabilities ◦ Capacity of a set of resources to perform in an integrative manner ◦ A capability should not be  So simple that it is highly imitable  So complex that it defies internal steering and control Copyright © 2004 South- Western. All rights reserved.1–28
  • 8. 8  When the four key criteria of resources and capabilities are met, they become core competencies  Core competencies serve as a source of competitive advantage  Managerial competencies are especially important Copyright © 2004 South- Western. All rights reserved.1–29 © 2007 Thomson/South- Western. All rights reserved.1–30 Core Competencies Valuable Rare Costly to ImitateNonsubstitutable Copyright © 2004 South- Western. All rights reserved.1–31 The firm is organized appropriately to obtain the full benefits of the resources in order to realize a competitive advantage Valuable Allow the firm to exploit opportunities or neutralize threats in its external environment Rare Possessed by few, if any, current and potential competitors Costly to imitate When other firms cannot obtain them or must obtain them at a much higher cost Nonsubstitutable  Corporate level strategy  Business level strategy  Functional level strategy Amie Kusumawardhani 32
  • 9. 9 Direktur M. Pemasaran M. Operasi M. Keuangan Corporate/Business Strategy Functional Strategy Amie Kusumawardhani 33 CEO Bisnis A Bisnis C M. Pemasaran Bisnis B M. Keuangan M. Operasi M. SDM Amie Kusumawardhani 34 Corporate Strategy Business Strategy Functional Strategy LEVELS OF STRATEGY  Corporate level • Determine overall scope of the organisation • Add value to the different business units • Meet expectations of stakeholders  Business level (SBU) • How to compete successfully in particular markets  Functional/Operational • How different parts of organisation deliver strategy  Dirumuskan oleh Board Director/Top Manajemen  Menjawab : “Bisnis apa yang akan dijalankan perusahaan?” dan Bagaimana membangun keunggulan kompetitif  Meliputi : - Sasaran masing-masing bisnis - Tanggung jawab kinerja keuangan - Alokasi sumber daya untuk mencapai sasaran - Pencapaian tujuan perusahaan yang bersifat nonfinansial (image perusahaan, tanggung jawab sosial)  Karakteristik : jangka panjang, fleksibel, resiko besar. Amie Kusumawardhani 36
  • 10. 10  Dirumuskan oleh Manajer Bisnis atau Manajer Korporasi  Diarahkan pada pengelolaan suatu bisnis tertentu  Menjawab: “Bagaimana membangun keunggulan kompetitif untuk perusahaan atau bisnis tertentu?”  Meliputi : - Produk yang akan ditawarkan - Target pasar yang dilayani - Menentukan daerah pemasaran, saluran distribusi - Lokasi usaha  Karakteristik : resiko relatif rendah, jangka pendek, menyangkut biaya yang tidak terlalu besar karena bergantung pada sumber daya yang tersedia Amie Kusumawardhani 37  Dirumuskan oleh masing-masing manajer fungsional  Lebih terinci sesuai dengan fungsi-fungsi manajemen (pemasaran, operasi, keuangan, personalia dan lain-lain)  Jangka waktu relatif lebih pendek (sasaran tahunan dan strategi jangka pendek)  Perhatiannya pada doing the things right (kalau manajer di tingkat korporasi dan bisnis : doing the right things) Amie Kusumawardhani 38  Most strategic thought has been developed in the US, based on that economy  Most economies are unlike the US economy  Issues faced by companies in smaller countries:  small local markets  central role of government  significant role of the public sector  limited capital markets  Factors that are unique to a country  history of the country  individual/national values  political systems  resource bases  These factors combine to make each country unique
  • 11. 11  The infrastructure of countries varies ◦Ranging from almost none to highly developed societies  Most countries significantly different to the US ◦Especially Middle Eastern and Asian countries  Strong and consistent move in most countries towards philosophies, policies and practices espoused in the west and particularly the US  The role of the public sector as a participant in industries and also as a regulator varies