Strategic Management
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The document discusses strategic management, which is defined as formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. It involves strategy formulation by analyzing internal strengths/weaknesses and external opportunities/threats. Strategies are then selected, implemented through annual objectives and policies, and evaluated using performance metrics. Strategic management helps organizations adapt to changes, achieve sustained competitive advantages, and gain financial/non-financial benefits like increased sales, productivity, and problem prevention capabilities.
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2. Strategic management is described as a continuous process undertaken by top management to create, implement, and evaluate strategic decisions to help an organization achieve its objectives.
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Competitive advantage through Human Resource
Objectives
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How HRM activities may provide competitive advantage
Identify needed skills
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This document discusses business policy and strategic management. It begins by defining business policy as guidelines that govern an organization's actions and define decision-making boundaries. It then discusses strategic management, including defining corporate and business unit strategies. It also covers Mintzberg's five perspectives of strategy - plan, ploy, pattern, position, and perspective. Finally, it discusses the importance of vision, mission, and objective statements in guiding an organization's strategic direction.
1.ppt
This document provides an introduction to strategic management. It defines key terms like strategy, strategic decisions, and strategic management. It explains that strategic priorities vary at the corporate, business unit, and operational levels. The basic vocabulary of strategy is also outlined, including concepts like mission, vision, goals, and objectives. Strategic management is distinguished from operational management in that it is organization-wide rather than routine. A model of strategic management elements is presented, including strategic position, strategic choices, and turning strategy into action. Strategic drift and the risk it poses are also discussed.
management and leadership
This document discusses different types of leadership styles and planning processes. It describes autocratic, democratic, and laissez-faire leadership styles. It also outlines the planning process, including setting goals and developing strategic, tactical, and operational plans. Effective planning involves determining goals and means for achieving them across multiple levels of the organization. Barriers to planning include difficulties with accurate assumptions and rapid change, as well as internal and external inflexibilities.
Businesspolicystrategicmanagement 140114205004-phpapp01
This document provides an overview of business policy and strategic management. It defines business policy as guidelines established by an organization to govern its actions and define decision-making boundaries. Strategic management is the process of identifying competitive advantages through generating and implementing good ideas. The document also discusses Mintzberg's 5 Ps of strategy, including strategy as a plan, ploy, pattern, position, and perspective. Examples of different types of business policies are provided.
strategicmanagement
The document provides an overview of business policy and strategic management. It defines business policy as guidelines established by an organization to govern its actions and define decision-making boundaries. Strategic management is the process of identifying competitive advantages through generating and implementing good ideas. The document also discusses corporate strategy, strategic analysis, Mintzberg's 5 Ps of strategy, levels of strategy, and vision/mission statements.
L 1 Introduction to strategic mgmt
This document provides an introduction to strategic management. It defines strategic management as the process of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. The key steps in strategic management are environmental analysis, establishing organizational direction through a mission and objectives, strategy formulation, strategy implementation, and strategic control. The benefits of strategic management include taking a proactive approach to shaping the future, formulating better strategies through a systematic process, and improved financial and non-financial performance.
MBA 590 Strategic Management Chpt. 1,2
This document discusses strategic management and planning. It covers:
1) The key components of strategic management - formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives.
2) The strategic management process, including strategic formulation, implementation, and evaluation.
3) Benefits and pitfalls of strategic planning, such as improved understanding but potential failure to communicate.
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Strategic Management
- 1. Strategic Management: Creating Competitive Advantages Presented By: Pushkin Srivastava Hardik Mehrotra Ankit Shukla Vaibhav Pandey Surya Pratap Kumar Pushkar
- 2. Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives. Strategic Management – Defined
- 3. Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection
- 4. Strategy Implementation Annual Objectives Policies Employee Motivation Resource Allocation
- 5. Strategy Evaluation Internal Review External Review Performance Metrics Corrective Actions
- 6. 1. Adapting to change in external trends, internal capabilities and resources Achieving Sustained Competitive Advantage 2. Effectively formulating, implementing & evaluating strategies
- 7. • What kind of business should we become? • Are we in the right fields • Are there new competitors • What strategies should we pursue? • How are our customers changing? Adapting to Change – Key Strategic Management Questions
- 8. Vision Statement – What do we want to become? Mission Statement – What is our business? Key Terms
- 9. Opportunities & Threats (External) Key Terms Analysis of Trends: • Economic • Social • Cultural • Demographic/Environmental • Political, Legal, Governmental • Technological • Competitors
- 10. Strengths & Weaknesses (Internal) Key Terms Typically located in functional areas of the firm • Management • Marketing • Finance/Accounting • Production/Operations • Research & Development • Computer Information Systems
- 11. Means by which long-term objectives are achieved Key Terms Strategies
- 12. Benefits of Strategic Management Financial Benefits • Improvement in sales • Improvement in profitability • Productivity improvement
- 13. Benefits of Strategic Management Non-Financial Benefits • Improved understanding of competitors strategies • Enhanced awareness of threats • Reduced resistance to change • Enhanced problem-prevention capabilities
- 14. Thank You