this is a presentation i prepared for my submission in the subject management 2 . The chapter is strategic management . hope you guys find this useful !!!
Chapter 8 strategic evaluation and controlRoshan Pant
This document discusses strategic evaluation and control. It defines strategic control as monitoring the implementation of an organization's strategic plans. The document outlines several key aspects of strategic control, including: premise control, strategic surveillance, implementation control, and special alerts. It also distinguishes strategic control from operational control, noting that strategic control is more future oriented, ambiguous, and focuses on achieving long term goals. Finally, the document discusses the contributions of Kaoru Ishikawa to total quality control and management.
The document discusses the importance of developing values, vision, and mission statements for an organization. It provides examples of effective vision statements that are short and inspirational. Mission statements should define the organization's purpose and customers. Goals and objectives specify what the organization aims to achieve and should be SMART (specific, measurable, attainable, results-oriented, and time-limited). Benchmarking against competitors can help set challenging strategic goals and objectives. Developing these elements provides purpose, guidance, and motivation for an organization's employees and stakeholders.
Diversification allows companies to enter new business lines different from current operations. Firms diversify to utilize excess resources, capture synergies, spread risk, and leverage brands. There are four main types of diversification: horizontal involves similar firms; vertical integrates suppliers and customers; concentric pursues synergistic but not identical markets; and conglomerate comprises unrelated industries. Common diversification strategies include acquisition, internal start-ups, joint ventures, and entering new businesses.
This document discusses strategic management and competitive strategy. It defines strategy as a scheme of corporate intent and action to achieve effectiveness by mobilizing resources, directing effort and behavior, and handling events and problems. It lists the characteristics of corporate strategy as being long-range, action-oriented, multifaceted, flexible, formulated at the top level, meant to cope with competition, flowing from goals and objectives, and deploying resources effectively. Finally, it outlines the importance of strategic management as providing clarity, guiding decision-making, offsetting uncertainty, and increasing organizational effectiveness.
Strategic evaluation and control is the final phase of strategic management. It operates at two strategic and operational levels to assess consistency with the environment and pursuit of strategy. The purpose is to evaluate strategy effectiveness in achieving objectives. It tests strategy effectiveness and keeps the organization on track to objectives through feedback and corrective actions. Strategic evaluation involves participants across the organization and provides lessons for new planning, though barriers like measurement difficulties must be addressed.
The document outlines Mintzberg's five definitions of strategy: plan, ploy, pattern, position, and perspective. It provides details about each definition: plan refers to a consciously intended course of action or guidelines; ploy is a specific maneuver; pattern is a consistency in actions and behavior whether intended or not; position locates an organization in its environment; and perspective is an ingrained way of perceiving the world that is shared within an organization.
This document discusses strategy evaluation and control. It explains that strategy evaluation ensures companies achieve their objectives by comparing performance to goals and taking corrective actions. An effective evaluation process determines metrics, sets standards, measures performance, and takes action if needed. The document also outlines Rumelt's criteria for evaluating strategies, which are consistency, consonance, feasibility, and competitive advantage. It notes that evaluating strategies is challenging due to increasing environmental complexity and uncertainty.
This document discusses different levels of strategy, including corporate strategy, business strategy, and functional strategy.
Corporate strategy involves top-level decisions about the overall scope and direction of a corporation. It occupies the highest decision-making level. Corporate strategies include stability, expansion, retrenchment, and combinations of those. Expansion strategies involve concentrating resources, diversifying, integrating operations, cooperating with competitors, and internationalization. Retrenchment strategies are turnaround, divestment, and liquidation.
Business strategy details how a firm provides value to customers within a specific industry. Common business strategies are cost leadership, differentiation, focused low cost, focused differentiation, and integrated low cost/differentiation.
Functional
Chapter 8 strategic evaluation and controlRoshan Pant
This document discusses strategic evaluation and control. It defines strategic control as monitoring the implementation of an organization's strategic plans. The document outlines several key aspects of strategic control, including: premise control, strategic surveillance, implementation control, and special alerts. It also distinguishes strategic control from operational control, noting that strategic control is more future oriented, ambiguous, and focuses on achieving long term goals. Finally, the document discusses the contributions of Kaoru Ishikawa to total quality control and management.
The document discusses the importance of developing values, vision, and mission statements for an organization. It provides examples of effective vision statements that are short and inspirational. Mission statements should define the organization's purpose and customers. Goals and objectives specify what the organization aims to achieve and should be SMART (specific, measurable, attainable, results-oriented, and time-limited). Benchmarking against competitors can help set challenging strategic goals and objectives. Developing these elements provides purpose, guidance, and motivation for an organization's employees and stakeholders.
Diversification allows companies to enter new business lines different from current operations. Firms diversify to utilize excess resources, capture synergies, spread risk, and leverage brands. There are four main types of diversification: horizontal involves similar firms; vertical integrates suppliers and customers; concentric pursues synergistic but not identical markets; and conglomerate comprises unrelated industries. Common diversification strategies include acquisition, internal start-ups, joint ventures, and entering new businesses.
This document discusses strategic management and competitive strategy. It defines strategy as a scheme of corporate intent and action to achieve effectiveness by mobilizing resources, directing effort and behavior, and handling events and problems. It lists the characteristics of corporate strategy as being long-range, action-oriented, multifaceted, flexible, formulated at the top level, meant to cope with competition, flowing from goals and objectives, and deploying resources effectively. Finally, it outlines the importance of strategic management as providing clarity, guiding decision-making, offsetting uncertainty, and increasing organizational effectiveness.
Strategic evaluation and control is the final phase of strategic management. It operates at two strategic and operational levels to assess consistency with the environment and pursuit of strategy. The purpose is to evaluate strategy effectiveness in achieving objectives. It tests strategy effectiveness and keeps the organization on track to objectives through feedback and corrective actions. Strategic evaluation involves participants across the organization and provides lessons for new planning, though barriers like measurement difficulties must be addressed.
The document outlines Mintzberg's five definitions of strategy: plan, ploy, pattern, position, and perspective. It provides details about each definition: plan refers to a consciously intended course of action or guidelines; ploy is a specific maneuver; pattern is a consistency in actions and behavior whether intended or not; position locates an organization in its environment; and perspective is an ingrained way of perceiving the world that is shared within an organization.
This document discusses strategy evaluation and control. It explains that strategy evaluation ensures companies achieve their objectives by comparing performance to goals and taking corrective actions. An effective evaluation process determines metrics, sets standards, measures performance, and takes action if needed. The document also outlines Rumelt's criteria for evaluating strategies, which are consistency, consonance, feasibility, and competitive advantage. It notes that evaluating strategies is challenging due to increasing environmental complexity and uncertainty.
This document discusses different levels of strategy, including corporate strategy, business strategy, and functional strategy.
Corporate strategy involves top-level decisions about the overall scope and direction of a corporation. It occupies the highest decision-making level. Corporate strategies include stability, expansion, retrenchment, and combinations of those. Expansion strategies involve concentrating resources, diversifying, integrating operations, cooperating with competitors, and internationalization. Retrenchment strategies are turnaround, divestment, and liquidation.
Business strategy details how a firm provides value to customers within a specific industry. Common business strategies are cost leadership, differentiation, focused low cost, focused differentiation, and integrated low cost/differentiation.
Functional
Evaluation and control in strategic managementMeenakshi1994
The document discusses strategic evaluation and control in businesses. Strategic evaluation allows companies to assess their health, productivity, and future plans beyond short-term factors. It is performed by various stakeholders to test strategy effectiveness, set objectives, and determine if the organization is moving in the right direction. Strategic control monitors strategies adopted by the organization to ensure alignment with internal and external environments. It involves determining what to control, setting standards, measuring performance, comparing to standards, identifying deviations, and taking corrective action.
Mba iii (business policy and strategic analysis)Ankit Rautela
The document discusses business policy and strategic management. It provides definitions of business policy as the study of functions and responsibilities of senior management related to organizational problems affecting enterprise success. Strategic management is defined as the dynamic process of formulating, implementing, evaluating, and controlling strategies to achieve strategic intent. The strategic management process involves environmental scanning, strategy formulation, implementation, and evaluation and control in an ongoing cycle.
This document provides an overview of strategic management. It discusses key concepts like business policy, the nature and importance of business policy, limitations of business policy, and the process of formulating business policy. It also describes strategic management in terms of its beginning with a mission statement, preparation of a business portfolio, and periodic re-evaluation. The basic model of strategic management involves environmental scanning, strategy formulation and implementation, evaluation and control, and feedback. Vision, mission, objectives, strategic decision making, global strategic management, the impacts and barriers of globalization are also summarized.
Stability & retrenchment management BMSVaibhav Shah
This document discusses strategies for stability and retrenchment in corporate management. Stability strategies aim to continue current activities without significant changes and include no-change, profit, and pause/proceed with caution approaches. Retrenchment strategies aim to reduce the size or diversity of operations and include turnaround, divestment/disinvestment, and liquidation. Specific companies that have utilized these strategies are provided as examples. The document provides an overview of key stability and retrenchment strategies for top-level management in corporate strategy planning.
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.
Business portfolio analysis is a technique that analyzes a company's different business units or products in the same way an investment portfolio is analyzed. It uses tools like the BCG matrix and GE nine-cell matrix to evaluate business units based on factors such as market share and market growth. This helps companies allocate resources more effectively by identifying strong business units in attractive markets that should receive more investment, and weak units in unattractive markets that may need to be improved or divested. While portfolio analysis provides a systematic approach and encourages strategic evaluation, the analyses can oversimplify strategies and produce static snapshots that may not account for changing market conditions.
The document discusses various strategic analysis and choice frameworks including the EFE matrix, IFE matrix, SWOT matrix, SPACE matrix, BCG matrix, GE nine-cell matrix, and IE matrix. It provides details on how to conduct an analysis using each framework, including how to evaluate internal and external factors, match strategies, and determine the appropriate strategic position and actions. The frameworks help organizations generate strategies by analyzing their internal strengths and weaknesses as well as external opportunities and threats.
This document discusses the three levels of strategic management - corporate, business, and operational.
The corporate level focuses on the overall plan for the organization and strategic business units. Strategy at this level involves conceptual decisions. The business level determines how each business unit will compete and allocates resources. Operational level strategies improve internal functions like manufacturing and marketing.
Effective strategic management requires coordination across all three levels to improve profitability.
This presentation provides an overview of strategic management. It defines strategy and discusses the different levels of strategy - corporate, business, and functional. It then defines strategic management as the set of management decisions and actions that determine long-term performance, including environmental scanning, strategy formulation, implementation, and evaluation. The presentation outlines the four main steps in strategic management: 1) developing a strategic intent through vision, mission, and objectives, 2) analyzing external and internal environments to formulate strategy, 3) implementing strategies opertationally and changing organizational structure and systems, and 4) evaluating strategy and taking corrective actions.
This document outlines various offensive and defensive business strategies. Defensive strategies include position defense, mobile defense, flanking defense, counter-offensive defense, and contraction defense, which are used to protect market share. Offensive strategies aim to improve one's own position by taking market share from competitors, and include frontal attack, flank attack, encirclement attack, bypass attack, and guerilla attack. Both offensive and defensive strategies are used to gain competitive advantages and either retain or expand a company's market position.
This document summarizes a presentation on strategic management. It defines strategic management and outlines the strategic management process. This includes identifying the organization's mission and goals, conducting external and internal analysis including SWOT analysis, formulating strategies, implementing strategies, and evaluating results. It also discusses different levels of organizational strategies, including corporate level strategies like growth, stability, and retrenchment strategies. Business level strategies include Miles and Snow's adaptation model, Porter's generic competitive strategies, and product life cycle analysis. Functional level strategies involve research and development, manufacturing, marketing, human resources, and finance. Current strategic issues and important strategies for today's environment are also summarized.
The document discusses strategic planning and the TOWS matrix. The TOWS matrix is a framework that helps match an organization's internal weaknesses and strengths with external threats and opportunities. It is used to develop four types of strategies: WT focuses on minimizing weaknesses and threats; WO aims to minimize weaknesses and maximize opportunities; ST attempts to use strengths against threats; and SO capitalizes on strengths to pursue opportunities. The TOWS matrix is a tool for systematically analyzing an organization's situation over time as external and internal environments are dynamic.
This document discusses stability strategies as part of corporate strategy. It defines stability strategies as continuing current activities without significant changes in direction, and notes they are most common for small businesses or mature firms. The document outlines three types of stability strategies: no-change strategies for stable environments; profit strategies to maintain profits artificially in the short-term; and pause/proceed with caution strategies to test changes before fully implementing them. Advantages include reduced risk and maintaining routine work, while disadvantages include limiting growth and innovation long-term.
This document discusses behavioral implementation of strategy in organizations. It identifies key issues in behavioral implementation such as influence tactics, power, empowerment, and managing resistance to change. It also outlines the main components of behavioral implementation, including leadership, corporate culture, power and policies, values, ethics, and social responsibility. Each of these components is then explained in more detail, with leadership described as playing a critical role in executing strategy and culture defined by employee interactions and mindsets.
Corporate level strategies are basically about the choice of direction that a firm adopts in order to achieve its objectives.
Corporate strategy is essentially a blueprint for the growth of the firm.
The corporate strategy sets the overall direction for the organization to follow.
It also spells out the extent, pace and timing of the firm’s growth.
This document provides an overview of strategic management concepts including definitions of strategy, the strategic management process, and frameworks for strategic analysis. It defines strategy as a plan to achieve organizational goals. The strategic management process involves setting strategic intent through vision and mission, formulating strategy by analyzing the external and internal environment, implementing strategy, and evaluating performance. Frameworks explained include the levels of strategy (corporate, business, functional), McKinsey's 7S model analyzing seven internal elements, and forms of corporate strategies like growth, stability, and retrenchment.
Core competencies are a firm's unique skills and abilities that distinguish it in the marketplace. They fulfill three criteria: provide access to markets, contribute significantly to customer benefits, and are difficult for competitors to imitate. The document discusses how core competencies facilitate strategy, innovation, and competitive advantage. It provides examples of companies like Apple, 3M, and Starbucks that have differentiated themselves through core competencies. The core competence model outlines how resources, capabilities, competitive advantage, and strategy are related. Management must identify and build upon a company's core competencies to develop successful long-term strategies.
Strategic evaluation is defined as determining the effectiveness of an organization's strategy in achieving objectives and taking corrective actions. It is the final step in strategic management and involves appraising internal/external factors, measuring performance, and making adjustments. Strategic evaluation is important because it assesses the efficiency and effectiveness of plans in achieving goals. It allows managers to evaluate current strategies in a changing environment. The process involves setting benchmarks, measuring actual performance, analyzing variances, and taking corrective actions. Participants include shareholders, directors, executives, and managers.
An easy step by step guide to establish implementable & actionable LSM ( Local store Marketing ) in retail stores, Proven easy & useful, used & copied & adopted by leading fast food chains & retail company's in the Philippines. If you need a copy of the Power point presentation email your request @ dngrtz2000@hotmail.com, will send you your copy immediately.
The document discusses the vision, mission, and objectives of an organization. It provides definitions and components of an effective vision statement, including that it should be a dream with a deadline, differentiate the company, and have five key elements - a sense of worthiness, ability to inspire, invitation to share, clear understandability, and achievability. The mission answers questions about the organization's reason for being and purpose, and objectives evolve from the mission to set specific, measurable goals.
Evaluation and control in strategic managementMeenakshi1994
The document discusses strategic evaluation and control in businesses. Strategic evaluation allows companies to assess their health, productivity, and future plans beyond short-term factors. It is performed by various stakeholders to test strategy effectiveness, set objectives, and determine if the organization is moving in the right direction. Strategic control monitors strategies adopted by the organization to ensure alignment with internal and external environments. It involves determining what to control, setting standards, measuring performance, comparing to standards, identifying deviations, and taking corrective action.
Mba iii (business policy and strategic analysis)Ankit Rautela
The document discusses business policy and strategic management. It provides definitions of business policy as the study of functions and responsibilities of senior management related to organizational problems affecting enterprise success. Strategic management is defined as the dynamic process of formulating, implementing, evaluating, and controlling strategies to achieve strategic intent. The strategic management process involves environmental scanning, strategy formulation, implementation, and evaluation and control in an ongoing cycle.
This document provides an overview of strategic management. It discusses key concepts like business policy, the nature and importance of business policy, limitations of business policy, and the process of formulating business policy. It also describes strategic management in terms of its beginning with a mission statement, preparation of a business portfolio, and periodic re-evaluation. The basic model of strategic management involves environmental scanning, strategy formulation and implementation, evaluation and control, and feedback. Vision, mission, objectives, strategic decision making, global strategic management, the impacts and barriers of globalization are also summarized.
Stability & retrenchment management BMSVaibhav Shah
This document discusses strategies for stability and retrenchment in corporate management. Stability strategies aim to continue current activities without significant changes and include no-change, profit, and pause/proceed with caution approaches. Retrenchment strategies aim to reduce the size or diversity of operations and include turnaround, divestment/disinvestment, and liquidation. Specific companies that have utilized these strategies are provided as examples. The document provides an overview of key stability and retrenchment strategies for top-level management in corporate strategy planning.
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.
Business portfolio analysis is a technique that analyzes a company's different business units or products in the same way an investment portfolio is analyzed. It uses tools like the BCG matrix and GE nine-cell matrix to evaluate business units based on factors such as market share and market growth. This helps companies allocate resources more effectively by identifying strong business units in attractive markets that should receive more investment, and weak units in unattractive markets that may need to be improved or divested. While portfolio analysis provides a systematic approach and encourages strategic evaluation, the analyses can oversimplify strategies and produce static snapshots that may not account for changing market conditions.
The document discusses various strategic analysis and choice frameworks including the EFE matrix, IFE matrix, SWOT matrix, SPACE matrix, BCG matrix, GE nine-cell matrix, and IE matrix. It provides details on how to conduct an analysis using each framework, including how to evaluate internal and external factors, match strategies, and determine the appropriate strategic position and actions. The frameworks help organizations generate strategies by analyzing their internal strengths and weaknesses as well as external opportunities and threats.
This document discusses the three levels of strategic management - corporate, business, and operational.
The corporate level focuses on the overall plan for the organization and strategic business units. Strategy at this level involves conceptual decisions. The business level determines how each business unit will compete and allocates resources. Operational level strategies improve internal functions like manufacturing and marketing.
Effective strategic management requires coordination across all three levels to improve profitability.
This presentation provides an overview of strategic management. It defines strategy and discusses the different levels of strategy - corporate, business, and functional. It then defines strategic management as the set of management decisions and actions that determine long-term performance, including environmental scanning, strategy formulation, implementation, and evaluation. The presentation outlines the four main steps in strategic management: 1) developing a strategic intent through vision, mission, and objectives, 2) analyzing external and internal environments to formulate strategy, 3) implementing strategies opertationally and changing organizational structure and systems, and 4) evaluating strategy and taking corrective actions.
This document outlines various offensive and defensive business strategies. Defensive strategies include position defense, mobile defense, flanking defense, counter-offensive defense, and contraction defense, which are used to protect market share. Offensive strategies aim to improve one's own position by taking market share from competitors, and include frontal attack, flank attack, encirclement attack, bypass attack, and guerilla attack. Both offensive and defensive strategies are used to gain competitive advantages and either retain or expand a company's market position.
This document summarizes a presentation on strategic management. It defines strategic management and outlines the strategic management process. This includes identifying the organization's mission and goals, conducting external and internal analysis including SWOT analysis, formulating strategies, implementing strategies, and evaluating results. It also discusses different levels of organizational strategies, including corporate level strategies like growth, stability, and retrenchment strategies. Business level strategies include Miles and Snow's adaptation model, Porter's generic competitive strategies, and product life cycle analysis. Functional level strategies involve research and development, manufacturing, marketing, human resources, and finance. Current strategic issues and important strategies for today's environment are also summarized.
The document discusses strategic planning and the TOWS matrix. The TOWS matrix is a framework that helps match an organization's internal weaknesses and strengths with external threats and opportunities. It is used to develop four types of strategies: WT focuses on minimizing weaknesses and threats; WO aims to minimize weaknesses and maximize opportunities; ST attempts to use strengths against threats; and SO capitalizes on strengths to pursue opportunities. The TOWS matrix is a tool for systematically analyzing an organization's situation over time as external and internal environments are dynamic.
This document discusses stability strategies as part of corporate strategy. It defines stability strategies as continuing current activities without significant changes in direction, and notes they are most common for small businesses or mature firms. The document outlines three types of stability strategies: no-change strategies for stable environments; profit strategies to maintain profits artificially in the short-term; and pause/proceed with caution strategies to test changes before fully implementing them. Advantages include reduced risk and maintaining routine work, while disadvantages include limiting growth and innovation long-term.
This document discusses behavioral implementation of strategy in organizations. It identifies key issues in behavioral implementation such as influence tactics, power, empowerment, and managing resistance to change. It also outlines the main components of behavioral implementation, including leadership, corporate culture, power and policies, values, ethics, and social responsibility. Each of these components is then explained in more detail, with leadership described as playing a critical role in executing strategy and culture defined by employee interactions and mindsets.
Corporate level strategies are basically about the choice of direction that a firm adopts in order to achieve its objectives.
Corporate strategy is essentially a blueprint for the growth of the firm.
The corporate strategy sets the overall direction for the organization to follow.
It also spells out the extent, pace and timing of the firm’s growth.
This document provides an overview of strategic management concepts including definitions of strategy, the strategic management process, and frameworks for strategic analysis. It defines strategy as a plan to achieve organizational goals. The strategic management process involves setting strategic intent through vision and mission, formulating strategy by analyzing the external and internal environment, implementing strategy, and evaluating performance. Frameworks explained include the levels of strategy (corporate, business, functional), McKinsey's 7S model analyzing seven internal elements, and forms of corporate strategies like growth, stability, and retrenchment.
Core competencies are a firm's unique skills and abilities that distinguish it in the marketplace. They fulfill three criteria: provide access to markets, contribute significantly to customer benefits, and are difficult for competitors to imitate. The document discusses how core competencies facilitate strategy, innovation, and competitive advantage. It provides examples of companies like Apple, 3M, and Starbucks that have differentiated themselves through core competencies. The core competence model outlines how resources, capabilities, competitive advantage, and strategy are related. Management must identify and build upon a company's core competencies to develop successful long-term strategies.
Strategic evaluation is defined as determining the effectiveness of an organization's strategy in achieving objectives and taking corrective actions. It is the final step in strategic management and involves appraising internal/external factors, measuring performance, and making adjustments. Strategic evaluation is important because it assesses the efficiency and effectiveness of plans in achieving goals. It allows managers to evaluate current strategies in a changing environment. The process involves setting benchmarks, measuring actual performance, analyzing variances, and taking corrective actions. Participants include shareholders, directors, executives, and managers.
An easy step by step guide to establish implementable & actionable LSM ( Local store Marketing ) in retail stores, Proven easy & useful, used & copied & adopted by leading fast food chains & retail company's in the Philippines. If you need a copy of the Power point presentation email your request @ dngrtz2000@hotmail.com, will send you your copy immediately.
The document discusses the vision, mission, and objectives of an organization. It provides definitions and components of an effective vision statement, including that it should be a dream with a deadline, differentiate the company, and have five key elements - a sense of worthiness, ability to inspire, invitation to share, clear understandability, and achievability. The mission answers questions about the organization's reason for being and purpose, and objectives evolve from the mission to set specific, measurable goals.
This presentation is on leadership.
{Leadership is the art of influencing and inspiring subordinates to perform their duties willingly, competently and enthusiastically for achievement of group’s objectives.}
it covers following points :-
Meaning of Leadership
Features of Leadership
Importance of Leadership
Leader v/s Manager
Qualities/Traits of a Good Leader
Leadership Styles
Theories of Leadership
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
This document summarizes the missions and visions of the top 10 competitors in the retail industry. It provides brief descriptions of each company's mission to serve customers and communities, as well as their visions to be leaders and provide high quality, affordable services and products. Key companies mentioned include Walmart, CVS, Costco, Cardinal Health, Tesco, Carrefour, Kroger, AmerisourceBergen and Metro.
Forest became successful through a combination of deliberate and emergent strategies. Their strategy emerged through a pattern of decisions over time as both the environment and opportunities changed, with leadership providing some control over strategic processes but also allowing flexibility. Both strategic planning and emergent learning alongside it are important for organizations to adapt successfully to an unpredictable environment.
This document provides an introduction to strategic management concepts from Dr. Prashant Kalaskar. It defines key terms like strategy, planning, tactics, and differences between planning and strategy. It discusses the strategic management process including analyzing the internal and external environment, formulating strategies, implementing strategies, and evaluating strategies. The importance of strategic management for organizational success and survival is also highlighted. Stakeholders in business are defined as individuals or groups affected by organizational strategies and outcomes.
This document discusses the strategic management process, which includes formulation, implementation, and evaluation. It states that if a business has a proper strategic management process in place, it will yield profitability and growth. It defines strategy and explains the importance of having a strategy. It also outlines the key aspects of each part of the strategic management process.
The strategic management process involves four main steps:
1. Situation analysis which examines the internal and external environments of the company.
2. Strategy formulation where the company's strengths are analyzed to determine appropriate strategies.
3. Strategy implementation which puts the formulated strategies into action.
4. Strategy evaluation which assesses the internal and external environments again to determine if the strategies need reformulating.
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.
Strategic management involves four key components: environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The process begins with assessing internal and external factors, then formulating objectives and strategies. Implementation involves developing programs, budgets, and procedures. Finally, performance is monitored and strategies are adapted based on evaluation. The overall process aims to determine the organization's long-term path and manage change.
Support presentation to the SPIN-UP Training Programme on Entrepreneurial Skills for University Spin-Offs.
SPIN-UP is a cooperation project supported by the European Commission that aims to create an Entrepreneurship Training and Coaching Programme that contributes to the development of Key Entrepreneurial Skills, both technical and behavioural, essential to enable and leverage University Spin-Offs growth.
Download and have access to other training materials in www.spin-up.eu
This document outlines the objectives and contents of a training module on strategy for growth. The module aims to help managers of university spin-offs improve their abilities to plan for business growth. It will cover understanding the fundamentals of strategic management, identifying strategic possibilities from the business environment, and managing a firm's growth. Specific topics that will be addressed include strategic terminology, different perspectives on competitiveness, analyzing strategic options, and principles of discovery-driven growth. The training seeks to provide trainees with a basic understanding of strategy planning rather than making them experts in financial matters by appealing to their common sense and experience.
This document discusses marketing strategy, including its definition, development process, and types. It defines marketing strategy as a process that allows companies to focus resources on optimal opportunities to increase sales and achieve competitive advantage. Developing a strategy involves scanning internal and external environments, constructing a strategic plan with goals and implementation details, and monitoring progress. Common categorizations of strategies include those based on market dominance, generic strategies about differentiation and costs, innovation rates, and growth methods. Real-life marketing relies heavily on common sense, intuition, and experience to handle complex situations with imperfect information.
This document provides an overview of marketing strategy and planning. It defines strategy and strategic planning, and discusses the differences between strategic and tactical marketing planning. It also outlines the key components of the strategic planning process, including developing a mission statement, conducting environmental analyses, creating objectives and strategies, and developing budgets and short-term plans. Analytical frameworks for strategic analysis like Porter's Five Forces and Ansoff's Product-Market Grid are also summarized.
This document provides an introduction to strategic marketing. It discusses strategic marketing and market driven strategy. It also covers corporate, business, and marketing strategy. Finally, it addresses some of the challenges of the new era for strategic marketing, including escalating globalization, technology changes, and demands for social responsibility.
The document outlines the marketing strategy process, including conducting a strategic situation analysis, defining market targets and objectives, developing positioning statements, and designing a market mix strategy for each target that addresses product, price, distribution, promotion, and coordination with other business functions. It also discusses preparing sales forecasts and budgets as part of the marketing plan, and developing contingency plans to modify the strategy if needed. The marketing strategy process is intended to help companies develop a vision for their target markets and create effective strategies aligned with customer needs.
This document provides an overview of the dynamic marketing environment and key concepts in strategic marketing planning. It discusses the external macroenvironment including factors like demography, economic conditions, competition, and technology. It also covers the external microenvironment including markets, suppliers, and intermediaries. The document then explains the importance of strategic planning, objectives, strategies, and tactics. It outlines the steps in strategic marketing planning including situation analysis, objective setting, targeting, positioning, and designing the marketing mix. Finally, it discusses the annual marketing plan and strategic planning models.
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 various strategic analysis tools that can be used to develop business strategies, including:
1. Ansoff's Matrix which categorizes four growth strategies based on existing/new products and markets.
2. SWOT analysis which involves identifying internal strengths/weaknesses and external opportunities/threats to develop appropriate strategies.
3. PESTEL analysis which categorizes macroenvironmental factors into political, economic, social, technological, environmental, and legal to identify external influences.
4. Porter's Five Forces which analyzes the competitiveness and profitability of an industry based on the threat of new entrants, power of buyers/suppliers, competition, and availability of
STRATEGY, STRATEGIC PLANNING, STRATEGIC DECISION, STRATEGIC CAPABILITY, OPERATIONS MANAGEMENT, ROLE OF OPERATIONS IN AN ORGANIZATION, SCOPE OF OPERATIONS MANAGEMENT, OPERATIONS STRATEGY, DIFFERENCES BETWEEN STRATEGIC, ADMINISTRATIVE AND OPERATIONAL DECISIONS, BUSINESS ADMINISTRATION, MANAGEMENT SCIENCE, EDUCATION AND LEARNING,
Internal assignment no 2(MBA208)BY ANIL KUMARANIL KUMAR
The document discusses strategic management concepts. It begins by covering the two dimensions of the BCG matrix as market share and market growth. It then defines turnaround strategy, core competencies, and distinguishes between joint ventures and strategic alliances. Next, it explains SWOT analysis and Porter's four generic strategies of cost leadership, differentiation, cost focus, and differentiation focus. Finally, it discusses the importance of strategic management for organizations in setting goals, allocating resources, adapting to changes, and achieving long-term success.
Marketing represents the boundary between the marketplace and the company, and knowledge of current & emerging happenings in the marketplace is extremely important in any strategic planning exercise.
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.
This document discusses strategic planning in marketing. It outlines the steps in the strategic planning process including establishing a vision and mission statement, performing a gap analysis to identify areas for improvement, and setting objectives and goals. It also discusses the role of marketing in strategic planning and the purpose and structure of a marketing plan. The marketing plan structure includes sections on the business, situation analysis, marketing strategy, and implementation and controls.
The document outlines the strategic planning process for marketing. It discusses 7 key steps:
1. Defining the organizational mission and purpose.
2. Establishing strategic business units (SBUs) with separate missions, markets, and strategies.
3. Setting specific marketing objectives for each SBU both quantitatively and qualitatively.
4. Performing a SWOT analysis to assess internal strengths/weaknesses and external opportunities/threats.
5. Developing marketing strategies for each SBU using frameworks like the Boston Matrix, Product/Market Grid, GE Business Screen, and Porter's Generic Strategies.
6. Implementing tactical plans that specify short-term actions to achieve strategic
This document discusses strategic and corporate management. It defines strategic management as involving formulation and implementation of major goals and initiatives by top management based on assessing internal and external environments. Corporate management involves leading, administering, and directing a company. The document also discusses various business strategies companies can pursue like growth, internationalization, and retrenchment. It explains elements of strategic management like adapting to the business environment and affecting the entire organization. Finally, it provides examples of Apple's business strategy under Steve Jobs and for the iPhone 5s and 5c.
This document outlines various strategic options and levels at which strategies can be formulated, including corporate, business, and functional strategies. It discusses corporate strategies like stability, expansion, and retrenchment. Expansion strategies include concentration, integration, diversification, internationalization, and cooperation. Diversification can be concentric or conglomerate. Retrenchment includes turnaround, divestment, and liquidation strategies. The document also briefly discusses various strategic analysis tools.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
3. WHAT IS STRATEGY?
So ,
Strategic thinking has its roots in military strategy
“The branch of military science dealing with military command and
the planning and conduct of a war.”
And has evolved to focus on business
“An elaborate and systematic plan of action from long-term
perspective.”
4. IMPORTANCE OF STRATEGY (PLAN)
A true Story - Hungarian soldiers lost in Alps
Moral – Sense of purpose, direction
7. STRATEGIC VISION VS. MISSION
A strategic vision
concerns a firm’s
future business path
- “where
we are going”
Markets to be pursued
Future product/market/
customer/technology
focus
The mission
statement of a firm
focuses on its
present business
purpose - “who we
are and what we do”
Current product and
service offerings
Customer needs being
served
2-7
8. VISION STATEMENTS
Kraft Foods sample vision statements
Our Vision...
Helping People Around the World Eat and Live Better
Honda sample vision statements
1970: We will destroy Yamaha
Current: To Be a Company that Our Shareholders, Customers
and Society Want
Ford sample vision statements
Early 1900s: Democratize the automobile
Current: To become the world's leading Consumer Company for
automotive products and services.
Caterpillar sample vision statements
Be the global leader in customer value.
9. MISSION STATEMENTS OF SOME GREAT
COMPANIES
Amazon.com : Our vision is to be earth's most customer
centric company; to build a place where people can come
to find and discover anything they might want to buy
online.
Dell: Dell listens to customers and delivers innovative
technology and services they trust and value.
Google: Google's mission is to organize the world's
information and make it universally accessible and useful
McDonald’s: Tο bе ουr customers’ favorite рƖасе аnd
way tο eat.
11. MCDONALD’S STRATEGY
Key initiatives of McDonald’s “Plan to Win”
Strategy
Improved restaurant operations
Affordable pricing
Wide menu variety and beverage choices
Convenience and expansion of dining
opportunities
Ongoing restaurant reinvestment
12. THE CONCEPT OF STRATEGY:-
Derived from Greek word “STRATEGIA” Which means
Command, generalship.
In 1920s, Sears, Roebuck and Co. was giant mail-order
house whose president, General Robert E. Wood,
Recognized the concept and importance of Strategy.
13. THE CONCEPT OF STRATEGY:-
In 1962, Business historian Alfred D. Chandler
proposed that Strategy be defined as, “the
determination basic long term goals and objective
of an enterprise, and the adoption of courses of
action and the allocation of resources necessary for
carrying on these goals”
Chandler focused on main three elements which
are:-
1. Courses of action for attaining objectives
2. The process of seeking key ideas
3. How strategy is formulated and not just what
strategy turns out to be
14. STRATEGY:-
Henry Mintzberg differentiate intended and
emergent strategy.
In which Intended strategies refer to the plans that
managers develop.
While emergent strategies are actions that actually
take place over a period of time
15. STRATEGY:-
Refers to three main aspects which are:
1. Determination of basic long term goals &
objectives.
2. Adoption of courses of action to achieve these
objectives.
3. Allocation of resources necessary for adopting
the courses of action.
16. FEATURES OF STRATEGY:-
Is a relative combination of actions aimed at to meet a particular
condition to achieve desirable end.
Is a major course of action through which an organization tries to
relate itself with environment.
It helps in achieving the pre decided objectives.
It is a forward looking and it has orientation towards future.
Strategic action is required in a new situation.
17. ROLES OF DIFFERENT STRATEGIES:
Overall Company Strategy
This strategy is designed for long term business perspective
and most deals with overall strength of the company. If the
strategy is correct it is the most productive strategy.
Example:- A two wheeler manufacturing company will have
strategy of mass production and aggressive marketing.
Growth Strategy
Growth means increase in turnover, expansion or diversion of
business. This strategy means selecting product having fast
growth, acquisition of business of other firms and opening new
markets. It has direct positive impact on the profitability.
18. Product Strategy
This Strategy means choice of product which can result in
family of product. For new marketers product strategy must be
innovated, for eg. A home appliance like t.v, fridge etc.
Market Strategy
This strategy deals with product distribution , services, pricing
policy, advertising, packing etc.
20. Strategic planning involves process and methodology.
It starts with deciding social responsibility and then
preceding towards business mission and goals with
strategies to achieve them. This must be
communicated to all concerns of the organization.
After deciding the mission or aim the next task is to set
the goals in specific and quantitative term. The goals
are the reference for the top management in planning
and business activities. The next step is to set
objectives for the organization. The objective should
be measurable and monitored.
21. The success in achieving the mission is dependent on
the business strategy of the management. The recourses
must be deployed efficiency to achieve the objectives as
well as to face the competition.
The business strategy also depends on the environment
factors like technology, market, lifestyle, government
policies etc. A sound business strategy may be
developed to make the organization stable against
various forces and to make it strong. Therefore,
formulating strategy is an unstructured and complex task
also it deals with uncertainty. Figure shows the
formulation of business strategy.
Development of strategy is a difficult task and it is an
exercise multidisciplinary fields. Formulation of business
strategy reflects attitude and philosophy. Strategies are
formulated within policy frame.
23. LEVELS OF STRATEGY:-
Strategies exist at a number of level in an organization.
Still it is possible to distinguish three different level of
strategy which are as :-
1. Strategic level - corporate level strategy.
2. Operational level -business level strategy.
3. Tactical Level -functional level strategy.
24. CORPORATE LEVEL STRATEGY:-
Concerned with overall scope of an organization.
Includes issues like diversity of products, business units
etc.
Strategy formulated by top management to oversee the
interests & operations of multi line corporations.
Determines what business a company is in, should be in,
or wants to be in, what it wants to do with these business.
One of the best example is this context be that of
PepsiCo.
25. CORPORATE LEVEL STRATEGY:-
Corporate level strategy Is the highest level of
strategic decision-making and covers actions
dealing with :
The objective of the firm,
Acquisition and allocation of resources
Coordination of strategies of various SBUs for
optimal performance.
There main three type of corporate strategy
A. Growth
B. Stability
C. Renewal
27. BUSINESS LEVEL STRATEGY:-
Business-level strategy is applicable in those
organizations, which have different businesses-and each
business Is treated as strategic business unit (SBU).
The fundamental concept In SBU Is to identify the discrete
independent product/market segments served by an
organization.
Since each product/market segment has a distinct
environment, a SBU is created for each such segment.
For example, Reliance Industries United operates In textile
fabrics, yams, fibers, and a variety of petrochemical
products.
For each product group, the nature of market in terms of
customers, competition, and marketing channel differs.
29. A SIMPLE ORGANIZATION CHART
(SINGLE PRODUCT BUSINESS)
Business
Research and
Development
Manufacturing Marketing
Human
Resources
Finance
Functional
Level
Strategy
Business
Level
Strategy
30. A SIMPLE ORGANIZATION CHART
(DOMINANT OR RELATED PRODUCT BUSINESS)
Multibusiness
Corporation
Corporate
Level
Business 1
(Related)
Business 2
(Related)
Business 3
(Related)
Business
Level
Research and
Development
Manufacturing Marketing
Human
Resources
Finance
Functional
Level
31. FUNCTIONAL LEVEL STRATEGY:-
Strategy involves decision making with respect to specific
functional areas say production, marketing etc.
Decision at the functional level and are often described as
tactical decisions.
Emphasize on doing things correctly but these decisions
are guided by overall strategic considerations.
It is the approach taken by functional area to achieve
corporate & business objectives & maximizing resource
productivity.
32. FUNCTIONAL LEVEL STRATEGY:-
For example, marketing strategy, a functional
strategy, can be subdivided Into promotion, sales,
distribution, pricing strategies with each sub
function strategy contributing to functional strategy.
Reliance Company’s main strategy Is called
Corporate Level Strategy.
Reliance’s different Businesses like Textile, Fabric,
Energy as individual unit have different kind of
Business Level Strategy.
In each Units of Reliance, they have different
departments like Marketing, Finance, Production.
These departments have Functional strategy.
33. STRATEGIC MANAGEMENT
The art and science of formulating, implementing,
and evaluating cross-functional decisions that
enable an organization to achieve its objectives
34. Strategic management is used synonymously with the term
strategic planning.
Sometimes the term strategic management is used to refer
to strategy formulation, implementation, and evaluation, with
strategic planning referring only to strategy formulation.
A strategic plan is a company’s game plan.
A strategic plan results from tough managerial choices
among numerous good alternatives, and it signals
commitment to specific markets, policies, procedures, and
operations.
35. STAGES OF STRATEGIC MANAGEMENT
Strategy
formulation
Strategy
implementation
Strategy
evaluatio
n
36. IMPORTANCE OF STRATEGIC MANAGEMENT
It can make a difference in how well an organization
performs.
Generally observed that organizations that use strategic
management do have higher levels of performance.
Using this branch the managers examine the relevant
factors in deciding what actions to take.
Strategic management helps
out them to better cope with
the given complicate situations.
37. ADVANTAGES OF STRATEGIC MGT:-
Main advantages of strategic management are as follows:
1. Clarity in objective & direction.
2. Improvement in financial benefits of organization.
3. Offsetting environment uncertainty.
4. Organizational effectiveness.
5. Improved Quality of decisions.
6. Motivation & satisfaction.
39. Management by Objectives (MBO) is a process of agreeing
upon objectives within an organization so
that management and employees agree to the objectives
and understand what they are in the organization.
The term "management by objectives" was first
popularized by Peter Drucker in his 1954 book 'The
Practice of Management'
40. DEFINITION:-
Management by objectives (MBO) is a systematic and
organized approach that allows management to focus on
achievable goals and to attain the best possible results
from available resources.
It aims to increase organizational performance by
aligning goals and subordinate objectives throughout the
organization.
Ideally, employees get strong input to identify their
objectives, time lines for completion, etc. MBO includes
ongoing tracking and feedback in the process to reach
objectives.
41. MAIN CONCEPT:-
The principle behind Management by Objectives (MBO) is
to make sure that everybody within the organization has a
clear understanding of the aims, or objectives, of that
organization, as well as awareness of their own roles and
responsibilities in achieving those aims.
The complete MBO system is to get managers and
empowered employees acting to implement and achieve
their plans, which automatically achieve those of the
organization.
42. MANAGEMENT BY OBJECTIVES PRINCIPLES
Cascading of organizational vision, goals and objectives
Specific objectives for each member
Participative decision making
Explicit time period
Performance evaluation and feedback
43. MBO STRATEGY: THREE BASIC PARTS
All individuals within an organization are assigned a
special set of objectives that they try to reach during a
normal operating period. These objectives are mutually
set and agreed upon by individuals and their managers.
Performance reviews are conducted periodically to
determine how close individuals are to attaining their
objectives.
Rewards are given to individuals on the basis of how
close they come to reaching their goals.
44. THE MBO PROCESS
Define
Organization
al Goals
Define
Employee
Objectives
Continuous
Monitoring
Of Employee
Performance
And Progress
Performance
Evaluation/R
eviews
Providing
Feedback
Performance
Appraisals
45. FEATURES AND ADVANTAGES OF MBO
Motivation – Involving employees in the whole process of
goal setting. Increasing employee empowerment increases
employee job satisfaction and commitment.
Better communication and Coordination – Frequent reviews
and interactions between superiors and subordinates helps
to maintain harmonious relationships within the enterprise
and also solves many problems faced during the period.
The Smart Method
46. WHERE TO USE MBO
The MBO style is appropriate for knowledge-based
enterprises when your staff is competent. It is appropriate
in situations where you wish to build employees'
management and self-leadership skills and tap their
creativity and initiative.
Management by Objectives (MBO) is also used by chief
executives of multinational corporations (MNCs) for their
country managers abroad.
47. THE SMART METHOD
Clarity of goals – With MBO, came the
concept of SMART goals i.e. goals that
are:
Specific
Measurable
Achievable
Relevant, and
Time bound.
48. THE SMART METHOD
The goals thus set are clear, motivating and there is a
linkage between organizational goals and performance
targets of the employees.
The focus is on future rather than on past. Goals and
standards are set for the performance for the future with
periodic reviews and feedback.
49. MANAGERIAL FOCUS
MBO managers focus on the result, not the activity.
They delegate tasks by "negotiating a contract of goals"
with their subordinates without dictating a detailed
roadmap for implementation.
Management by Objectives (MBO) is about setting
yourself objectives and then breaking these down into
more specific goals or key results.
50. MBO AT MICROSOFT
BY BILL GATES
Eliminate politics, by giving everybody the same message.
Keep a flat organization in which all issues are discussed
openly.
Insist on clear and direct communication.
Prevent competing missions or objectives
Eliminate rivalry between different parts of the organization
Empower teams to do their own things
51. MBO: KEY ADVANTAGES AND
DISADVANTAGES
Advantages
MBO programs continually emphasize what should be done
in an organization to achieve organizational goals.
MBO process secures employee commitment to attaining
organizational goals.
Disadvantages
The development of objectives can be time consuming,
leaving both managers and employees less time in which to
do their actual work.
52. OPERATIONAL PLANNING:-
DEFINATION:-
Operational Planning Refers To The Process Of
Deciding The Most Effective Use of The Resources
Already Allocated And To Develop A Control
Mechanism To Assure Effective Implementation Of
The Action So That Organizational Objectives Are
achieved.
53. OPERATIONAL PLANNING:-
Operational Planning Thus Include Adjustment Of
Production , Marketing And Financial Capacity Of
The Organization To The Expected Level Of
Operations, Increasing The Efficiency Of Operating,
Budgeting Future Costs, Developing Control Over
Costs And Efficiency Etc.
Supervisors Implement Operational Plans That Are
Short Term And Deal With The Day – To – Day
Work Of Their Team.
54. COMPARISON OF STRATEGIC PLANNING AND
OPERATIONAL PLANNING :-
Strategic Planning Guides The Choice Among The
Broad Directions In The Organization And The
General Allocations Of Its Managerial, Financial
And Physical Resources Over Future Specified
Period.
Planning Precedes The Operational Planning As
The Latter Is Primarily Implementation Of The Of
The Former.
55. COMPARISON OF STRATEGIC PLANNING AND
OPERATIONAL PLANNING :-
Strategic planning is usually conducted at the top
level management and other specified planning
staff in an organization . whereas operational
planning is usually spread over a wide range within
the organization an is generally performed by
operating managers with help of the subordinate
staff.
56. DIFFERENT BETWEEN STRATEGIC AND
OPERATIONAL PLANNING:-
POINT STRATEGIC PLANNING OPERATIONAL
PLANNING
o TIME
HORIZON
o SCOPE
Typically More Than 3
Years.
It Focuses At Its Wider
Scope And Looks After
The Entire Organization
Usually Focused On
Within 1 Year In The
Future
Rarely Broader Than
A Strategic Business.
It Has Comparatively
Narrow Scope.
57. POINT STRATEGIC PLANNING OPERATIONAL PLANNING
o COMPLEXITY
o IMPACT
Planning At Strategic
Level Is Most Complicate
As It Varies For Each Type
Of Industry.
It Has Potential To
Drastically Impact, Both
The Ways- Positive And
Negative , The Fortunes
And Survival Of The
Organization .
Up To Certain Extent
It Is Complex But At
The Same Time It Is
Specific As It Focuses
On Limited Domain
Of Application.
It Can Affect Specific
Business But
Generally Not The
Fortunes And
Survivability Of The
Entire Organization.
58. STRATEGIC PLANNING :-
Strategic planning refers to the process of
deciding on objectives of the organization , on the
changes in these objectives , on the resources
used to attain these objectives and on the policies
that are to govern the acquisition, and disposition of
these resourcces. It is said that leaders make
changes instead of reacting to change.
59. CHARACTERISICS OF STRATEGIC PLANNING
Strategic planning is a top management activity i .
E. Top managers are actively involved in it /
Top management gains commitment from other
levels of managers to implement strategic planning
, while the top management is committed to it .
It is a long range activity .
Strategic planning should clearly define where
does the company stand and where it should go.