Module 1
Unit 1 Introduction to Strategic Management
a) Concept and process of Strategic Management, Benefits and Risks of
Strategic Management, Vision and Mission,
b) Functional Strategies: Human Resource Strategy, Marketing Strategy,
Financial Strategy, Levels of Strategies: Corporate, Business and Operational
Level Strategy
Unit 2 Strategy Formulation, Implementation and Evaluation
a) Strategic Formulation: Issues of strategic Choice, Stages and Importance of
strategic Formulation, Formulation of Alternative Strategies: Mergers and
Acquisitions, Joint Ventures, Diversification, Turnaround, Divestment and
Liquidation.
Unit 4 Emerging Strategic Trends
a) Reasons for growing BPO and KPO businesses in India, Reengineering
Business Processes, contribution of IT sector in Indian Business, Concept,
Problems and Consequences of Disasters, Strategies for Managing and
Preventing disasters and Cope up Strategies
b) Process of business startups and its Challenges, Growth Prospects and
government initiatives in Make in India Model with reference to National
manufacturing, Contribution of Make in India Policy
Corporate Portfolio Analysis- SWOT Analysis, BCG Matrix, GE Nine Cell
Matrix, Hofer’s Matrix, Importance and Problems of Strategic Implementation,
Importance, and Techniques of Strategic Evaluation and Control
This document discusses strategic management concepts including vision, mission, business definition, and other strategic intents. It provides examples of good vision and mission statements and explains how they should be formulated. A vision is described as the future aspirations that inspire an organization, while a mission reflects the organization's purpose and reason for existence in working to achieve the vision. Together, vision and mission provide strategic direction and motivate stakeholders. The document also discusses related concepts like stretch, leverage, and fit in strategic positioning.
This document provides an overview of an e-learning course on strategic management. The course aims to teach techniques for strategic thinking, planning, and decision-making. It also covers topics like innovation, goal-setting, strategic leaders, and decision-making for managers. The course expects learners to develop skills in areas such as maximizing competitive advantage, creating new business models, utilizing resources effectively, and dealing with workplace challenges. It uses models like Porter's Five Forces to analyze the external environment and the strategic management process to formulate and implement strategies.
Concepts of planning and control in managementJun Mendoza
Planning and controlling are critical management functions. Planning involves determining future courses of action to achieve goals, while controlling ensures plans are executed properly and goals are met. Effective planning considers alternatives, resources, and changing conditions. Controlling establishes standards, measures performance, and takes corrective actions if needed. Together, planning and controlling provide direction and oversight to help organizations operate efficiently.
Short review of HBR's "How Strategy Shapes Structure" will introduce you to two main business strategies and help you choosing the right strategy for your business.
There are multiple levels of strategy needed for companies. Corporate strategy covers objectives and coordination across business units (SBUs). SBU strategies provide objectives and coordination for each business unit to contribute to corporate goals. Functional strategies deal with objectives and coordination within specific functions like marketing, sales, and distribution to support SBUs and corporate strategy. Strategists at different levels are involved in strategic management, including the board of directors, CEO, senior management, SBU executives, corporate planning staff, consultants, and entrepreneurs.
Unit 4 Emerging Strategic Trends
a) Reasons for growing BPO and KPO businesses in India, Reengineering
Business Processes, contribution of IT sector in Indian Business, Concept,
Problems and Consequences of Disasters, Strategies for Managing and
Preventing disasters and Cope up Strategies
b) Process of business startups and its Challenges, Growth Prospects and
government initiatives in Make in India Model with reference to National
manufacturing, Contribution of Make in India Policy
Corporate Portfolio Analysis- SWOT Analysis, BCG Matrix, GE Nine Cell
Matrix, Hofer’s Matrix, Importance and Problems of Strategic Implementation,
Importance, and Techniques of Strategic Evaluation and Control
This document discusses strategic management concepts including vision, mission, business definition, and other strategic intents. It provides examples of good vision and mission statements and explains how they should be formulated. A vision is described as the future aspirations that inspire an organization, while a mission reflects the organization's purpose and reason for existence in working to achieve the vision. Together, vision and mission provide strategic direction and motivate stakeholders. The document also discusses related concepts like stretch, leverage, and fit in strategic positioning.
This document provides an overview of an e-learning course on strategic management. The course aims to teach techniques for strategic thinking, planning, and decision-making. It also covers topics like innovation, goal-setting, strategic leaders, and decision-making for managers. The course expects learners to develop skills in areas such as maximizing competitive advantage, creating new business models, utilizing resources effectively, and dealing with workplace challenges. It uses models like Porter's Five Forces to analyze the external environment and the strategic management process to formulate and implement strategies.
Concepts of planning and control in managementJun Mendoza
Planning and controlling are critical management functions. Planning involves determining future courses of action to achieve goals, while controlling ensures plans are executed properly and goals are met. Effective planning considers alternatives, resources, and changing conditions. Controlling establishes standards, measures performance, and takes corrective actions if needed. Together, planning and controlling provide direction and oversight to help organizations operate efficiently.
Short review of HBR's "How Strategy Shapes Structure" will introduce you to two main business strategies and help you choosing the right strategy for your business.
There are multiple levels of strategy needed for companies. Corporate strategy covers objectives and coordination across business units (SBUs). SBU strategies provide objectives and coordination for each business unit to contribute to corporate goals. Functional strategies deal with objectives and coordination within specific functions like marketing, sales, and distribution to support SBUs and corporate strategy. Strategists at different levels are involved in strategic management, including the board of directors, CEO, senior management, SBU executives, corporate planning staff, consultants, and entrepreneurs.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
The nature of management control systemsAbu Nahiyan
Control: The process of monitoring activities to ensure that they are being accomplished as planned and of correcting any significant deviations.
Management: The process of dealing with or controlling things or people.
System: A system is a prescribed way of carrying out any activity or set of activities.
Management Control Systems: The system used by management to control the activities of an organization is called management control systems.
Strategic planning involves developing a vision and mission, setting objectives, crafting a strategy, implementing and executing the strategy, and evaluating performance. A company's strategy consists of competitive moves, operating approaches, and action plans to achieve performance targets. Strategic planning addresses where the company currently stands, where it wants to go, and how it will get there. The strategy is constantly evolving due to changing market conditions, competitors, technologies, and other factors.
Getting A to C is the process of strategy formulation. To do strategic planning well, figure out A,B,C and how they should be connected. This is accomplish principally by understanding the issues that A,B,C and their interconnections must be address effectively. This summary makes it clear that strategic planning is not a single thing but a set of concepts, procedures and tools.
The document discusses analyzing an organization's internal environment and capabilities. It describes reviewing organizational resources and activities to identify strengths and weaknesses. This helps understand current standing, select growth opportunities aligned with capabilities, and identify capability gaps. Key factors of the internal environment include organizational resources, behavior, strengths/weaknesses, synergies, competencies, and capabilities. Analyzing these areas through tools like the organizational capability profile and strategic advantage profile helps understand competitive advantage.
Strategic planning establishes organizational priorities and allocates resources to accomplish goals. It improves performance by focusing an organization and communicating priorities. A good strategic plan assesses the current state, sets goals and plans to close gaps between the current and future states. It should address critical issues, balance capabilities and goals, cover a sufficient time period, be visionary yet flexible to allow for change, and guide decision making. Key elements are the mission, guiding principles, value propositions, destination points, and areas of focus/strategies.
The document discusses Porter's generic strategies for competitive advantage - cost leadership, differentiation, and focus. It describes how firms can pursue these strategies through their value chains and actions to lower costs or differentiate their products. Firms can also integrate cost leadership and differentiation strategies to balance low prices with some unique features. However, either strategy risks competitors imitating the firm's approach and "stuck in the middle" firms may compromise too much.
The document discusses various aspects of strategy implementation including:
1. Strategy implementation requires integrating people, structure, processes and resources to achieve organizational objectives.
2. There are different organizational structures that can be used including functional, divisional, strategic business unit and matrix structures.
3. The McKinsey 7S model analyzes seven key internal elements including strategy, structure, systems, staffing, skills, style and shared values that must be aligned for effective strategy implementation.
Quiz 7QUIZ strategic management concepts &cases 11th edition by Fred حمد بوجرادة
This document provides answers to questions about conducting external analyses for strategic planning purposes. It discusses:
1) How to conduct an external audit with four basic steps: selecting key variables, sources of information, forecasting tools, and constructing an EFE matrix.
2) Recent economic, social, political, or technological trends that significantly affect financial institutions, such as interest rates, smoking ordinances, and internet usage.
3) That major opportunities and threats usually stem from interactions among multiple external factors rather than single events.
This document discusses various types of corporate strategies including integration strategies like forward, backward, and vertical integration. It also discusses intensive strategies such as market penetration, market development, and product development. Diversification strategies including concentric, conglomerate, and horizontal diversification are explained. Defensive strategies like retrenchment, divestiture, and liquidation are also outlined. Throughout, the document emphasizes the crucial role of managers in successfully implementing these strategies through developing expertise in managing diversification.
Strategic planning involves 8 elements:
1) Establishing the organization's values, vision and mission
2) Analyzing the organization's current position
3) Considering the organization's potential for growth and opportunities
4) Identifying constraints, threats and limits
5) Setting short, medium and long-term objectives
6) Determining the means to achieve objectives through resources
7) Managing human resources to encourage collaboration and involvement
8) Measuring performance over time through timelines, criteria and tools
Here are the key points about strategic group analysis:
- Strategic groups separate companies within the same industry that have similar business models and strategy combinations.
- Companies within a strategic group compete most directly with each other.
- Strategists will often display companies on a two-dimensional grid to show their relative market positions within a strategic group.
- Examining strategic groups provides insights into the competitive dynamics within an industry by analyzing groups of closest competitors.
- It also helps companies assess their relative strengths and weaknesses compared to industry peers in the same strategic group.
- The goals of strategic group analysis depend on factors like a group's market share, growth rates, and profitability relative to other groups.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. It allows organizations to proactively shape their future. Strategic management provides both financial benefits like increased sales and profitability, and non-financial benefits such as identifying opportunities and improving coordination. Strategies can be developed at the corporate, business, and functional levels of an organization. The challenges of strategic management include preventing strategic drift and understanding contemporary issues.
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
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 several strategic planning models that can be used by organizations, including the Strategy Map, Balanced Scorecard, SWOT Analysis, PEST Analysis, Gap Planning, Blue Ocean Strategy, Porter's Five Forces, and VRIO Framework. It provides overview and examples of each model. The models can be used to analyze internal/external factors, identify goals and measures, compare current/desired states, explore new market opportunities, and evaluate competitive advantages. While each has strengths, the best model depends on an organization's specific context and needs.
Strategy involves determining long-term goals and objectives and adopting plans to achieve them. There are three levels of strategy: corporate, business unit, and functional. Corporate strategy focuses on selecting business portfolios and coordinating them. Business unit strategy develops competitive advantages for specific goods/services. Functional strategy coordinates resources to efficiently execute higher-level strategies. Strategic management is the process of formulating, implementing, and evaluating cross-functional decisions to achieve objectives. It involves environmental scanning, strategy formulation, implementation through programs and budgets, and feedback.
This document discusses mystery shopping conducted at HSBC Bangladesh retail branches. It provides background on HSBC and outlines the vision, mission, goals and objectives of HSBC Bangladesh and its retail banking division. It then describes the mystery shopping process, including developing a questionnaire, selecting vendors, executing surveys, and reporting results. The outcomes of mystery shopping included improved customer service, increased sales and deposits, higher customer satisfaction, and quality control. Coordination with other strategies such as training, policies, and fraud prevention contributed to the success. Recommendations include providing resources and training to mystery shoppers.
This document discusses strategic management and business policy. It begins by defining strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It then discusses the nature, characteristics, and features of strategic management, including that it involves a long time perspective, is an intellectual process, has wide ramifications, and is a continuing dynamic social process. The document goes on to discuss the importance and relevance of strategic management, including its financial and non-financial benefits. It closes by emphasizing the importance of effective strategic management for business success.
This document provides an overview of strategic and operational management strategies for educational institutions. It discusses strategic management processes like strategic planning, implementation, evaluation and decision making. It also covers operational management techniques and decision making. Specific topics summarized include the strategic management process, SWOT analysis, benefits of strategic management, strategic decision making and the 7 steps of operational decision making.
This document outlines the course syllabus for BA932 Strategic Management. It covers 5 units: 1) Strategy and Process, 2) Competitive Advantage, 3) Strategies, 4) Strategy Implementation & Evaluation, and 5) Other Strategic Issues. Unit 1 discusses strategic concepts like vision, mission, objectives, and the strategy formation process. Unit 2 covers external environment analysis using Porter's five forces model and competitive changes. It also discusses internal analysis of resources, capabilities, and competitive advantage. Unit 3 looks at generic strategies and various levels of strategy. Unit 4 examines strategy implementation and evaluation. Unit 5 covers topics like technology, innovation, and internet strategies.
The nature of management control systemsAbu Nahiyan
Control: The process of monitoring activities to ensure that they are being accomplished as planned and of correcting any significant deviations.
Management: The process of dealing with or controlling things or people.
System: A system is a prescribed way of carrying out any activity or set of activities.
Management Control Systems: The system used by management to control the activities of an organization is called management control systems.
Strategic planning involves developing a vision and mission, setting objectives, crafting a strategy, implementing and executing the strategy, and evaluating performance. A company's strategy consists of competitive moves, operating approaches, and action plans to achieve performance targets. Strategic planning addresses where the company currently stands, where it wants to go, and how it will get there. The strategy is constantly evolving due to changing market conditions, competitors, technologies, and other factors.
Getting A to C is the process of strategy formulation. To do strategic planning well, figure out A,B,C and how they should be connected. This is accomplish principally by understanding the issues that A,B,C and their interconnections must be address effectively. This summary makes it clear that strategic planning is not a single thing but a set of concepts, procedures and tools.
The document discusses analyzing an organization's internal environment and capabilities. It describes reviewing organizational resources and activities to identify strengths and weaknesses. This helps understand current standing, select growth opportunities aligned with capabilities, and identify capability gaps. Key factors of the internal environment include organizational resources, behavior, strengths/weaknesses, synergies, competencies, and capabilities. Analyzing these areas through tools like the organizational capability profile and strategic advantage profile helps understand competitive advantage.
Strategic planning establishes organizational priorities and allocates resources to accomplish goals. It improves performance by focusing an organization and communicating priorities. A good strategic plan assesses the current state, sets goals and plans to close gaps between the current and future states. It should address critical issues, balance capabilities and goals, cover a sufficient time period, be visionary yet flexible to allow for change, and guide decision making. Key elements are the mission, guiding principles, value propositions, destination points, and areas of focus/strategies.
The document discusses Porter's generic strategies for competitive advantage - cost leadership, differentiation, and focus. It describes how firms can pursue these strategies through their value chains and actions to lower costs or differentiate their products. Firms can also integrate cost leadership and differentiation strategies to balance low prices with some unique features. However, either strategy risks competitors imitating the firm's approach and "stuck in the middle" firms may compromise too much.
The document discusses various aspects of strategy implementation including:
1. Strategy implementation requires integrating people, structure, processes and resources to achieve organizational objectives.
2. There are different organizational structures that can be used including functional, divisional, strategic business unit and matrix structures.
3. The McKinsey 7S model analyzes seven key internal elements including strategy, structure, systems, staffing, skills, style and shared values that must be aligned for effective strategy implementation.
Quiz 7QUIZ strategic management concepts &cases 11th edition by Fred حمد بوجرادة
This document provides answers to questions about conducting external analyses for strategic planning purposes. It discusses:
1) How to conduct an external audit with four basic steps: selecting key variables, sources of information, forecasting tools, and constructing an EFE matrix.
2) Recent economic, social, political, or technological trends that significantly affect financial institutions, such as interest rates, smoking ordinances, and internet usage.
3) That major opportunities and threats usually stem from interactions among multiple external factors rather than single events.
This document discusses various types of corporate strategies including integration strategies like forward, backward, and vertical integration. It also discusses intensive strategies such as market penetration, market development, and product development. Diversification strategies including concentric, conglomerate, and horizontal diversification are explained. Defensive strategies like retrenchment, divestiture, and liquidation are also outlined. Throughout, the document emphasizes the crucial role of managers in successfully implementing these strategies through developing expertise in managing diversification.
Strategic planning involves 8 elements:
1) Establishing the organization's values, vision and mission
2) Analyzing the organization's current position
3) Considering the organization's potential for growth and opportunities
4) Identifying constraints, threats and limits
5) Setting short, medium and long-term objectives
6) Determining the means to achieve objectives through resources
7) Managing human resources to encourage collaboration and involvement
8) Measuring performance over time through timelines, criteria and tools
Here are the key points about strategic group analysis:
- Strategic groups separate companies within the same industry that have similar business models and strategy combinations.
- Companies within a strategic group compete most directly with each other.
- Strategists will often display companies on a two-dimensional grid to show their relative market positions within a strategic group.
- Examining strategic groups provides insights into the competitive dynamics within an industry by analyzing groups of closest competitors.
- It also helps companies assess their relative strengths and weaknesses compared to industry peers in the same strategic group.
- The goals of strategic group analysis depend on factors like a group's market share, growth rates, and profitability relative to other groups.
Strategic management involves formulating, implementing, and evaluating cross-functional decisions to help an organization achieve its objectives. It allows organizations to proactively shape their future. Strategic management provides both financial benefits like increased sales and profitability, and non-financial benefits such as identifying opportunities and improving coordination. Strategies can be developed at the corporate, business, and functional levels of an organization. The challenges of strategic management include preventing strategic drift and understanding contemporary issues.
This report is about combination of various strategic management theories which has explains by different authors with different viewpoints according to the situations which they are looking at.
Strategic management can be basically describe as a process which analysis the current situation and make strategies which will matches to that. Basically strategic management has three main processes which can name as strategic formulation, implementation and evaluation.
First this report explains about what is strategic management and how it has implemented and how if effects for an organization. Compare to that briefing then the report focus on the theories which has found out to be explain in the journals which has selected to review the strategic management theories.
And then the report contains about the strengths and weaknesses of the each selected strategic management theory. After that it contains about a combination of all the theories which has mention in the report, to fill up the gap of each theory using the strength of the other.
Finally, in the conclusion the report shows the final view of the researcher about the finding throughout the research and the assumption which can make about combination of the strategic management theories and the use of this combination for a better performance.
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 several strategic planning models that can be used by organizations, including the Strategy Map, Balanced Scorecard, SWOT Analysis, PEST Analysis, Gap Planning, Blue Ocean Strategy, Porter's Five Forces, and VRIO Framework. It provides overview and examples of each model. The models can be used to analyze internal/external factors, identify goals and measures, compare current/desired states, explore new market opportunities, and evaluate competitive advantages. While each has strengths, the best model depends on an organization's specific context and needs.
Strategy involves determining long-term goals and objectives and adopting plans to achieve them. There are three levels of strategy: corporate, business unit, and functional. Corporate strategy focuses on selecting business portfolios and coordinating them. Business unit strategy develops competitive advantages for specific goods/services. Functional strategy coordinates resources to efficiently execute higher-level strategies. Strategic management is the process of formulating, implementing, and evaluating cross-functional decisions to achieve objectives. It involves environmental scanning, strategy formulation, implementation through programs and budgets, and feedback.
This document discusses mystery shopping conducted at HSBC Bangladesh retail branches. It provides background on HSBC and outlines the vision, mission, goals and objectives of HSBC Bangladesh and its retail banking division. It then describes the mystery shopping process, including developing a questionnaire, selecting vendors, executing surveys, and reporting results. The outcomes of mystery shopping included improved customer service, increased sales and deposits, higher customer satisfaction, and quality control. Coordination with other strategies such as training, policies, and fraud prevention contributed to the success. Recommendations include providing resources and training to mystery shoppers.
This document discusses strategic management and business policy. It begins by defining strategic management as the art and science of formulating, implementing, and evaluating cross-functional decisions to achieve organizational objectives. It then discusses the nature, characteristics, and features of strategic management, including that it involves a long time perspective, is an intellectual process, has wide ramifications, and is a continuing dynamic social process. The document goes on to discuss the importance and relevance of strategic management, including its financial and non-financial benefits. It closes by emphasizing the importance of effective strategic management for business success.
This document provides an overview of strategic and operational management strategies for educational institutions. It discusses strategic management processes like strategic planning, implementation, evaluation and decision making. It also covers operational management techniques and decision making. Specific topics summarized include the strategic management process, SWOT analysis, benefits of strategic management, strategic decision making and the 7 steps of operational decision making.
2 Business Policy And Strategic Management BASIC CONCEPTSAmy Isleb
This document discusses key concepts in strategic management including:
1. Strategic management involves developing a strategic vision, objectives, and strategy to create competitive advantages and guide a company through environmental changes.
2. There are three levels of management - corporate, business, and functional. Corporate management oversees company strategies, business management focuses on business unit strategies, and functional management handles operational functions.
3. Other concepts discussed include a company's mission, the difference between proactive and reactive strategies, and how strategic management helps companies be proactive and ensure long term success.
Strategic management involves analyzing internal/external strengths/weaknesses, formulating action plans, executing plans, and evaluating success. It necessitates strategic planning to set goals and determine decisions/actions to achieve results. There are three levels of strategy: corporate level addresses scope/markets; business level focuses on individual businesses/industries; functional level coordinates organizational functions. Strategic management is an ongoing process that creates and maintains an organization's competitive advantage.
This document provides an overview of strategic management concepts. It defines strategic management as involving formulation, implementation, and evaluation of cross-functional decisions to achieve organizational objectives. The strategic management process consists of three main stages: strategy formulation, strategy implementation, and strategy evaluation. Strategy formulation includes developing a vision, identifying external opportunities/threats and internal strengths/weaknesses, and choosing strategies. Strategy implementation requires establishing objectives, policies, and allocating resources. Strategy evaluation assesses strategy effectiveness and drives corrective actions. The document also outlines various business strategies like market penetration, product development, diversification, and defensive strategies.
The document provides information on strategy, strategic management, and the strategic management process. It discusses:
1) What strategy and strategic management are, including definitions and key features. Strategy is a long-term plan to achieve objectives, while strategic management is the process of planning, implementing, and evaluating strategies.
2) The three levels of strategy - corporate, business, and functional. Corporate strategy focuses on the overall direction of the organization. Business strategy focuses on specific product markets. Functional strategy involves strategic approaches within individual business functions.
3) The strategic management process, which involves environmental scanning, strategy formulation, implementation, and evaluation to achieve organizational goals.
4) The importance and need for strategic management,
This document outlines the key concepts and principles of strategic management. It discusses corporate strategy and why it is important for organizations. Corporate strategy involves commitments, decisions and actions to achieve competitive advantage and above average returns. It allows companies to keep pace with a changing environment, minimize competitive disadvantages, provide a clear strategic vision and goals, motivate employees, and strengthen decision-making. The document also defines strategy and outlines Mintzberg's 5 P's of strategy - plan, pattern, position, ploy, and perspective. Overall, corporate strategy is a comprehensive master plan for how a company will achieve its mission and objectives.
Strategy is the action taken by strategists to achieve the goals of the organization.
It deals with long term development rather than routine operations like: new product development, capturing new customers , occupying new geographic location, adaptability of technology & focusing on creativity & innovativeness.
It ca be defined as a general direction set for the company & its various components to achieve a desirable state in future.
Strategy plays a significant role in forecasting future uncertainties by scanning the environment.
The main aim of Strategic Management (SM) is to help the organization to operate successfully in the dynamic environment which is complex by nature.
It helps the business to be less bureaucratic & more flexible.
It provides competitive advantage to the organization.
It demands that the company should be a learning organization which creates, acquires and transfers knowledge.
Strategic management process consists of four stages. These are
Environmental scanning
Formulation of Strategy
Implementation of the Strategy
Evaluation & Control of the Strategy.
Environmental scanning is the systematic process of monitoring, evaluating and disseminating information from the external & internal environments to key people within the organization.
The external environment consists of opportunities & threats that are outside of the organization whereas internal environment consists of strength & weakness that are within the organization itself.
The internal environment includes the management, employees, structure, culture and resource of the organization.
The environmental scanning is done through SWOT analysis.
Strategy Formulation is the development of long-range plans for the effective management of environmental opportunities & threats in light of corporate strength & weaknesses.
It includes defining the corporate mission, specifying achievable objectives, developing strategies & setting policy guidelines.
In this step the organization must practically fix the quantitative target values for some of the organizational objectives.
Strategy Implementation is the process by which strategies & policies are put into action through the development of programs, budgets & procedures.
This process might involve changes within the culture, structure, system of the organization.
Most of the times, strategy implementation is carried out by middle & lower level managers with the review by the top management.
Sometimes referred to as operational planning, strategy implementation often involves day-to-days in resource allocation.
It includes programs, budgets & procedures.
Evaluation of Strategy is the process in which corporate activities & performance are monitored so that the actual performance can be compared with desired performance.
Managers at all levels use the resulting information to take corrective action & resolve problems.
A critical evaluation must be done on the basis of the organization’s past performance.
Strategic management involves analyzing the external environment, assessing internal strengths and weaknesses, formulating strategies, implementing strategies, and evaluating performance. It is a continuous process that helps organizations achieve long-term objectives. The key steps in strategic management are setting strategic intent through vision, mission, and objectives, formulating strategies through environmental and organizational analysis, implementing strategies through organizational structure and processes, and evaluating strategies and controlling performance.
This document provides a summary of the book "Essentials of Strategic Management" by David Hunger and Thomas Wheelen. It discusses key concepts in strategic management including environmental scanning, strategy formulation, implementation, and evaluation. Some of the main topics covered include Michael Porter's industry analysis framework, the importance of being a learning organization, and the roles and responsibilities of corporate boards in strategic decision making.
This document provides a summary of the book "Essentials of Strategic Management" by David Hunger and Thomas Wheelen. It discusses key concepts in strategic management including environmental scanning, strategy formulation, implementation, and evaluation. Some of the main topics covered include Michael Porter's industry analysis, strategic decision making processes, the roles of corporate governance and social responsibility, and methods for analyzing a company's external environment and internal strengths and weaknesses.
This document provides a summary of the book "The Essentials of Strategic Management" by David Hunger and Thomas Wheelen. It discusses key concepts in strategic management including environmental scanning, strategy formation, implementation, and evaluation. Some of the main topics covered include Michael Porter's industry analysis framework, strategic decision making models, the evolution of strategic management, and the importance of organizations becoming learning entities. The review provides an overview of the essential elements and processes in strategic management discussed in the source book.
The document provides an overview of strategic management concepts including:
1. Definitions of strategic management, mission, objectives, goals, and levels of strategy including corporate, business unit, and functional strategies.
2. Frameworks for analyzing the external and internal environment like PEST, Porter's 5 Forces, SWOT, and TOWS.
3. Tools for strategic analysis and choice like the BCG matrix, product life cycle, benchmarking, and gap analysis.
4. The rational process of strategic management including analysis, formulation, implementation, and review.
5. Case studies and examples are provided to illustrate strategic management techniques.
this ppt is related to strategic managment strategies used in a business and to boost the production and do the work efficiently. this ppt is usefull for students that are studying bba in 2 nd year
This document provides an overview of strategic management concepts including strategy formation at the corporate, business unit, and functional levels. It discusses key elements of strategic management like stakeholders, vision/mission statements, and the strategic management process.
The strategic management process involves environmental scanning, strategy formulation, implementation through programs/budgets/procedures, and evaluation/control. Vision statements provide long-term direction while mission statements define the organization's purpose. Stakeholders like shareholders, employees, customers impact and are impacted by business decisions.
This document discusses strategic management concepts including strategy formation at the corporate, business unit, and functional levels. It defines strategy and explains that corporate strategy is concerned with the selection and coordination of businesses a company competes in. Business unit strategy focuses on developing competitive advantage within product/service lines. Functional strategy involves coordinating resources to execute business unit strategies. The strategic management process involves environmental scanning, strategy formulation, implementation, and evaluation. Stakeholders in a business include shareholders, creditors, managers, employees, suppliers, customers, community and government. Vision and mission statements provide direction for organizational goals, while objectives and goals specify targets to achieve the vision and mission.
Introduction to Strategic Management- Unit 1 (3).pptxBandiYashwant
This document discusses the evolution and key concepts of strategic management. It outlines four phases in the development of strategic management:
1) Basic financial planning
2) Forecast-based planning
3) Externally-oriented planning
4) Strategic management
Strategic management involves analyzing internal/external environments to evaluate policies/goals and develop new strategic plans. It focuses on achieving long-term goals and competitive advantage. The document contrasts strategic management with operational management and outlines the four phases of the strategic management process.
The document discusses strategic planning and its importance for project managers. It outlines the key elements of strategic planning, including goal setting, strategy development, customer and internal business analysis, strategic choices, implementation, and evaluation. It argues that project managers need to understand business strategies in order to position themselves as partners rather than just hands, and that linking projects to corporate strategies is critical for success. A basic knowledge of strategic planning principles is necessary for project managers to fulfill this role effectively.
1 introduction- concepts in strategic management.Naganandini Devi
Strategic management involves 4 key processes: 1) environmental scanning to analyze internal/external factors, 2) strategy formulation to develop long-term plans, 3) strategy implementation through programs/budgets, and 4) evaluation and control to assess performance and make adjustments. These cyclical processes integrate functions like marketing, finance, and HR to help organizations adapt to changing environments and gain competitive advantages.
This document discusses strategic management. It outlines the learning objectives, which are to discuss strategic management, the role of corporate management, and evaluate students' knowledge. It then outlines the key topics to be covered, including strategic management process, role of governance and stakeholders. It defines strategic management and discusses the benefits. Key terms are defined, including competitive advantage, vision and mission statements, strengths and weaknesses. The three stages of the strategic management process are described: strategy formulation, implementation, and evaluation. Strategy activities are said to occur at three levels - corporate, divisional, and functional. Questions are provided to evaluate understanding of board of directors and top management.
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Module 1
Unit 1 Basics of Professional Intelligence
A. Definition of Intelligence, Meaning of Human Intelligence, Gardener’s Theory of
multiple intelligence, Types of intelligence, Concept and features of PI, Importance
to firm and individual,
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of PI
Unit 2 Principles and Impact of PI
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Module 2
Unit 3 Emotional Intelligence and Spiritual Intelligence
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Cognitive model of EI, Golemans (1995) model of EI
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Unit 4 Professional Stress & PI in AI world
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job stress – Survival Stress, Internal Stress , Environmental Stress, Fatigue.
Degrees of Stress - Acute Stress, Emotional distress, Chronic stress, Coping
mechanism of Stress
B. Accountability Ladder in Professional Intelligence, Distinction between Professional
intelligence and artificial intelligence
Unit 3 Emotional Intelligence and Spiritual Intelligence.pdfDr Vijay Vishwakarma
Meaning of Emotional intelligence, Dimension of Emotional Intelligence- Selfawareness, self-motivation, empathy, Social Skills, Mayer &Saloveys(1997)
Cognitive model of EI, Golemans (1995) model of EI
B. Spiritual intelligence, Methods to learn & develop spiritual Intelligence- Meditation,
Detached Observation, Reflection, Connecting, Practice
Definitions and Historical Development of Tourism, Types and Forms of Tourism,
Planning and Execution of Tour Plans – Coordination during Tour Management –
Networking for tour management - Career Opportunities in Tourism Industry
Unit 1 Basics of Professional Intelligence
A. Definition of Intelligence, Meaning of Human Intelligence, Gardener’s Theory of
multiple intelligence, Types of intelligence, Concept and features of PI, Importance
to firm and individual,
B. Process of developing PI, Factors affecting PI, Qualities required for PI, Challenges
of PI
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Ethics of Environment, Employees Rights and Duties & Corporate
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Environment Issues – Global Warming, Climate Change, Ethics in Human
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Various approaches to Business Ethics - Theories of Ethics- Friedman’s
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Ethics- Meaning, Business Ethics Concept, Types of Ethics, Ethics and
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The document discusses portfolio management. It defines portfolio management as the process of managing investments to maximize earnings while minimizing risk. It describes key concepts in portfolio management including types (active, passive, discretionary, non-discretionary), analysis, selection, optimization. It also discusses models for portfolio selection and optimization like the Markowitz model. It notes the advantages of portfolio management include improved communication, consistency, alignment with strategy, and faster decision-making.
THE INDIAN CONSTITUTION _ SIGNIFICANT ASPECTS OF POLITICAL PROCESS.pptxDr Vijay Vishwakarma
Philosophy of the Constitution as set out in the Preamble;
The structure of the Constitution-the Preamble, Main Body and Schedules;
Fundamental Duties of the Indian Citizen; tolerance, peace and communal harmony
as crucial values in strengthening the social fabric of Indian society;
Basic features of the Constitution
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Concept and process of Strategic Management, Benefits and Risks of
Strategic Management, Vision and Mission,
b) Functional Strategies: Human Resource Strategy, Marketing Strategy,
Financial Strategy, Levels of Strategies: Corporate, Business and Operational
Level Strategy
THE INDIAN CONSTITUTION _ SIGNIFICANT ASPECTS OF POLITICAL PROCESS.pptxDr Vijay Vishwakarma
The document provides an overview of the structure and key aspects of the Indian constitution. It discusses the following main points:
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The document discusses corporate governance, including its definition, principles, elements, failures and regulatory framework in India. Some key points:
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The document discusses the responsibilities of businesses towards various stakeholders in corporate social responsibility. It addresses responsibility towards society and the environment, including protecting natural resources, disposing waste safely, and engaging in philanthropic activities. It also covers responsibility towards employees, shareholders, customers, governments, suppliers, competitors, and financial institutions. The document further discusses factors influencing CSR policy, designing CSR policy, and the role of HR professionals in supporting CSR.
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Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
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Healing can occur in two ways: Regeneration and Repair
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ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
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Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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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.
Reimagining Your Library Space: How to Increase the Vibes in Your Library No ...Diana Rendina
Librarians are leading the way in creating future-ready citizens – now we need to update our spaces to match. In this session, attendees will get inspiration for transforming their library spaces. You’ll learn how to survey students and patrons, create a focus group, and use design thinking to brainstorm ideas for your space. We’ll discuss budget friendly ways to change your space as well as how to find funding. No matter where you’re at, you’ll find ideas for reimagining your space in this session.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
1. MODULE 1
Unit 1
Introduction to Strategic Management
Concept and process of Strategic
Management, Benefits and Risks of
Strategic Management, Vision and
Mission,
Functional Strategies: Human Resource
Strategy, Marketing Strategy, Financial
Strategy, Levels of Strategies: Corporate,
Business and Operational Level Strategy
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
1
2. • Strategic management is the concept of
identification, implementation, and
management of the strategies that managers
carry out to achieve the goals and objectives
of their organization.
• It can also be defined as a bundle of
decisions that a manager has to undertake
which directly contributes to the firm’s
performance.
• The manager responsible for Strategic
management must have a thorough
knowledge of the internal and external
organizational environment to make the right
decisions.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
2
3. • The basic concept of strategic
management consists of a continuous
process of planning, monitoring, analysing
and assessing everything that is necessary
for an organization to meet its goals and
objectives.
• In simple words, it is a management
technique used to prepare the organization
for the unforeseeable future.
• Strategy management helps create a vision
for an organization that helps to identify
both predictable as well as unpredictable
contingencies.
• It involves formulating and implementing
appropriate strategies so the organization
can attain sustainable competitive
advantage.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
3
4. Components of
Strategy Management
• Strategic Intent
• Strategic Intent of an organization clarifies the
purpose of its existence and why it will continue
to exist. It helps paint a picture of what an
organization should immediately do to achieve
the company’s vision.
• Mission
• Mission component of strategy management
states the role by which an organization intends to
serve its stakeholders. It describes why an
organization is operating that helps provide a
framework within which the strategies to achieve
its goals are formulated.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
4
5. • Vision
• The visual component of strategy
management helps identify where
the organization intends to be in
the future. It describes the
stakeholder dreams and
aspirations for the organization.
• Goals and Objectives
• Goals help specify in particular
what must be done in order to
attain an organization’s mission or
vision. Goals make the mission
component of strategy
management more prominent.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
5
6. Process of Strategy
Management
• Setting the Goal – The first and foremost
stage in the process of strategic
management requires the organization to set
the short term and long-term goals it wants
to achieve.
• Initial Assessment – The second stages says
to gathers as much data and information as
possible to help state the mission and vision
of the organization.
• Situation Analysis – It refers to the process of
collecting, scrutinizing and providing
information for strategic purposes. It helps in
analyzing the internal and external
environment that is influencing an
organization.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
6
7. • Strategy Formulation – Strategy formulation is
the process of deciding the best course of action
to be taken to achieve the goals and objectives
of the organization.
• Strategy Implementation – Executing the
formulated strategy in such a way that it
successfully creates a competitive advantage for
the company. In simple words, putting the
chosen plan into action.
• Strategy Monitoring – Strategy Monitoring
involves the key evaluation strategies like
considering the internal and external factors that
are the root of the present strategies and
measuring the team performance.
• SWOT Analysis – It helps in determining the
Strengths, Weaknesses, Opportunities and
Threats (SWOT) of an organization and taking
remedial/corrective courses of actions to fight
these weaknesses and threats.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
7
8. BENEFITS OF STRATEGIC
MANAGEMENT
1. Improved decision-making: Strategic management
provides a framework for better decision-making by
allowing leadership to assess the potential impact of
their decisions on the overall strategic objectives of
the organization.
2. Enhanced collaboration: Strategy management
encourages collaboration between departments and
functions ensuring that everyone is working toward
the same goals and objectives.
3. Better organizational performance: Strategy
management also helps organizations to focus on
the areas that need improvement, identify the best
ways to achieve their goals and objectives, and
measure progress.
•
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
8
9. Effective resource
allocation: Strategic management
encourages organizations to utilise
their resources more efficiently by
ensuring that resources are allocated
to the most important areas.
Increased customer
satisfaction: Strategy management
helps organizations to better
understand their customers and
develop strategies to meet their
needs.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
9
10. Financial
Benefits of
Strategic
Management
Financial Liquidity Monitoring
Strategic management enables businesses to keep an eye on cash flow and make
sure that the money they have available is aligned with long-term objectives.
Also, it enables business leaders to raise money when necessary for ongoing
operations.
Better Revenue Generation
Senior executives might modify their strategic vision to consider local reality by
soliciting candid, diverse viewpoints from business-unit chiefs. This cooperative,
back-and-forth method aids a business in understanding its clientele and
ultimately increases sales, thus making revenue generation one of the biggest
benefits of strategic management.
Increasing market share and profitability
This is one of the important benefits of strategic management. One can
approach the proper target market with the aid of strategic management skills.
All industries can investigate better consumer segments, products, and services,
as well as comprehend the market circumstances of the sector in which they are
engaged, if they have a highly concentrated plan and strategic thinking.
Prevents Legal Risks
One of the major benefits of strategic management is that it enables businesses
to include employee policies. Additionally, it enables the organisation to develop
internal procedures and checks to address board member and shareholder
conflicts of interest.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
10
11. Non-Financial
Benefits of
Strategic
Management
Discharges Board Responsibility
The primary justification given by most organisations for having a
strategic management process is that it relieves the Board of Directors of
responsibilities.
Forces An Objective Assessment
The discipline of strategic management gives the board and senior
management the ability to truly stand back from day-to-day operations
and consider the organization's future.
Make Better business decisions
One of the key benefits of strategic management is that it makes a
framework Every member of the workforce within which they can make
daily operational decisions from business perspective and know that they
are all leading the company in the same direction.
Supports Understanding & Buy-In
The board and employees can better comprehend the direction, the
rationale behind it, and the advantages it brings if they are allowed to
participate in the strategic conversation. While some people only need to
know, many people need to comprehend in order to have their complete
support.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
11
12. Enables Measurement of Progress
Enabling measurement of progress is one of the many benefits of
strategic management. An organisation must create goals and
success criteria as part of a strategic management process. In
order to develop targets and keep these crucial metrics in front of
the board and senior management, the business must first
identify the factors that are essential to its continued success.
Rejuvenate human resources
One of the benefits of strategic management is to make strategic
decisions on developing a hiring strategy based on comprehensive
feedback which attracts the most capable professionals to ensure
the company
Provides an Organizational Perspective
Handling operational challenges rarely takes into account the
interdependence of the organization's many parts as a whole. In
order to create a strategy that is best for the entire company, not
just a single component, strategic management adopts an
organisational viewpoint and examines all the components and
their interactions.
Creating a better future
The effectiveness of your organisation is increased when strategic
decisions are put into practise, which is one of their most
outstanding advantages. Setting the tone for the entire
organisation begins with the decisions you make today. A
proactive strategy reduces potential dangers.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
12
13. Risks of
Strategic
Management
1.Limitation of Assumption
2.Problem in Analyzing Environment
3.Unrealistic Mission and Objectives
4.Problem of Setting Target
5.Lack of Commitment of Lower Level
6.Problem of Resistance
7.More theoretical in Nature
8.Problem of Internal Politics
9.Problem of Traditional Management
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
13
14. Risks involved in Strategic
Management
• Strategic management is an intricate and
complex process that takes an organisation into
unchartered territory.
• It does not provide a ready-to-use prescription
for success. Instead, it takes the organisation
through a journey and offers a framework for
addressing questions and solving problems.
• Strategic management is not, therefore, a
guarantee for success; it can be dysfunctional if
conducted haphazardly
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
14
15. • It is a costly exercise in terms of the time that
needs to be devoted to it by managers.
• The negative effect of managers spending
time away from their normal tasks may be
quite serious.
• A negative effect may arise due to the non-
fulfilment of the expectations of the
participating managers, leading to frustration
and disappointment.
• Another negative effect of strategic
management may arise if those associated
with the formulation of strategy are not
intimately involved in the implementation of
strategies.
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
15
16. VISION
“Good business leaders
create a vision, articulate
the vision, passionately
own the vision, and
relentlessly drive it to
completion.”
–Jack Welch, former CEO
of General Electric
M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
16
17. M.COM I SEM I STRATEGIC MANAGEMENT
DR VIJAY VISHWAKARMA
17
18. • Many skills and abilities separate effective
strategic leaders like Howard Schultz from
poor strategic leaders.
• One of them is the ability to inspire
employees to work hard to improve their
organization’s performance.
• Effective strategic leaders can convince
employees to embrace lofty ambitions and
move the organization forward.
• In contrast, poor strategic leaders struggle
to rally their people and channel their
collective energy in a positive direction.
• An organization’s vision describes what
the organization hopes to become in the
future.
• Well-constructed visions clearly articulate
an organization’s aspirations.
M.COM I SEM I STRATEGIC MANAGEMENT
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19. Company Vision
Alcoa
To be the best company in the world–in the eyes of our
customers, shareholders, communities and people.
Avon
To be the company that best understands and satisfies
the product, service and self-fulfillment needs women–
globally.
Chevron
To be the global energy company most admired for its
people, partnership and performance.
Google To develop a perfect search engine.
Kraft Foods Helping people around the world eat and live better.
Proctor and Gamble
Be, and be recognized as, the best consumer products
and services company in the world.
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20. •FIND OUT VISION STATEMENTS OF
ANY 5 COMPANIES……..
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22. • In working to turnaround Starbucks, Howard Schultz sought to renew
Starbucks’s commitment to its mission statement: “to inspire and
nurture the human spirit—one person, one cup and one neighborhood
at a time.”
• A mission such as Starbucks’s states the reasons for an organization’s
existence.
• Well-written mission statements effectively capture an organization’s
identity and provide answers to the fundamental question “Who are
we?” While a vision looks to the future, a mission captures the key
elements of the organization’s past and present
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23. Ranboxy Petrochemicals: To become a research based global company.
Reliance Industries: To become a major player in the global chemicals business and
simultaneously grow in other growth industries like infrastructure.
ONGC: To stimulate, continue and accelerate efforts to develop and maximize the
contribution of the energy sector to the economy of the country.
Cadbury India: To attain leadership position in the confectionery market and
achieve a strong national presence in the food drinks sector.
Hindustan Lever: Our purpose is to meet everyday needs of people everywhere – to
anticipate the aspirations of our consumers and customers, and to respond
creatively and competitively with branded products and services which raise the
quality of life.
McDonald: To offer the customer fast food prepared in the same high quality
worldwide, tasty and reasonably priced, delivered in a consistent low key décor and
friendly manner.
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24. • It helps to ensure unanimity of purpose within the organisation.
• It provides a basis or standard for allocating organisational resources.
• It establishes a general tone or organisational climate.
• It serves as a focal point for individuals to identify with the organisation’s
purpose and direction.
• It facilitates the translation of objectives into tasks assigned to responsible
people within the organisation.
• It specifies organisational purpose and then helps to translate this purpose
into objectives in such a way that cost, time and performance parameters
can be assessed and controlled
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25. •FIND OUT MISSION STATEMENTS OF
ANY 5 COMPANIES……..
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26. Functional Strategy
According to Gareth R. Jones,
“Functional strategy is a plan of
action to strengthen an
organization’s Functional and
organizational resources, as well
as its coordination abilities, in
order to create core
competencies.”
Corporate and Business
strategies give birth to
functional strategies, which
are implemented in the
organization through
functional and operational
implementation.
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27. • According to Thompson and Strickland, “The
term functional strategy refers to the managerial game
plan for a particular functional activity, business
process, or key department within a business.
• A company’s marketing strategy, for example,
represents the managerial game plan for running the
marketing part of the business.
• A company’s new product development strategy
represents the managerial game plan for keeping the
company’s product lineup fresh and in tune with what
buyers are looking for.”
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28. • Each functional department carries out its own functional
responsibility by executing short- and medium-term
plans to play its role in meeting overall corporate
objectives.
• For example, in marketing strategy; the process may
focus on selecting the target market, developing a market
plan that may satisfy the overall needs of the target
customers.
• In human resource strategy, the functions may deal with
recruitment and selection of the employees, their
retention, training and development, evaluation, and
remuneration part.
• Financial strategy may go with issues of funding, shares,
debt financing, depreciation etc.
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29. • The functional strategies relate to the
operating divisions and thus connect to
business processes and value chain.
• Higher-level strategies depend upon
these strategies as they provide input to
the business level and corporate level
strategies.
• Once the higher-level strategies are
formulated, the functional units
translate them into the course of action
plan, which each department is
supposed to complete within a due
course of time for the success of the
strategy.
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30. An organization with multi-units
dealing in several businesses at a
same time, create a business
strategy for each business and each
business with separate sets of
departments constitute their own
functional strategies for each
department.
For example, if an
organization decides to go
for differentiation strategy,
all the activities of each
department, must be
focused on fulfilling that
purpose only.
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31. FEATURES OF FUNCTIONAL STRATEGY
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32. • It acts to achieve corporate and business unit
objectives by maximizing resource productivity.
• It is the game plan to manage a principal
subordinate activity within a business.
• Functional strategy is concerned with
developing and nurturing a distinctive
competence to provide a company or business
unit with a competitive advantage.
• The orientation of the functional strategy is
dictated by its parent business unit’s strategy.
• Functional strategy is narrower in scope than
business strategy. It contains relevant details of
the overall business game plan by setting out
the actions, approaches and practices which are
to be employed in managing a particular
function.
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33. Functional Strategies
• Human Resource Strategy
• Marketing Strategy
• Financial Strategy
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34. Marketing Strategy
• A marketing strategy for a service-oriented
organization would be to create a lasting,
long-term link between the organization
and the customers. Their functional
strategy will include social media
marketing, lead generations and SWOT
(Strength, Weakness, Opportunity &
Threats) Analysis to study the competition.
• These strategies focus on identifying target
audiences, understanding market
dynamics, creating value propositions, and
developing marketing campaigns to reach
customers effectively.
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35. • Apple has a clear marketing strategy
focusing on creating a powerful
brand image associated with
innovation, quality, and luxury.
• This is done through high-impact
product launches, minimalist and
creative advertising, and cultivating
a sense of exclusivity around its
products.
• They also meticulously control their
retail environments (both physical
and online) to ensure the buying
experience is aligned with their
brand image.
• Marketing & Advertising Strategy of Apple: A critical lens
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36. • A company like Coca-Cola might
have a marketing strategy to
strengthen its brand image by
associating it with happiness and
fun.
• This could involve launching a global
advertising campaign focusing on
these themes, local events, and
experiences that resonate with this
message.
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37. Finance Strategy
• When you have your corporate
strategies down pat, you must raise
the required finances. For a startup,
it can be seed funding, investor
money or bank financing. Other
financial strategies include capital
budgeting and dividend strategies for
equity shareholders.
• This strategy involves financial
planning and management, such as
budgeting, cost control, cash flow
management, capital structure, risk
management, and investment
decisions.
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38. • Apple maintains a very large cash reserve,
which gives them significant flexibility in
strategic investments, acquisitions, and
R&D.
• Despite their cash holdings, they also use
debt financing strategically, taking
advantage of low-interest rates.
• A startup might have a financial strategy of
securing additional capital to fuel its rapid
growth.
• This could involve pursuing venture capital
funding, maintaining a lean operational
budget to extend their financial runway, and
planning for a future initial public offering
(IPO).
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39. Human
Resource
Strategy:
•HR strategies include
decisions about recruitment,
selection, training,
performance management,
compensation, and employee
retention.
•The aim is to attract,
develop, and retain a
workforce that can effectively
execute business strategies.
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40. • Apple works hard to attract and retain top
talent, offering competitive compensation
packages, opportunities for career
development, and a work environment that is
both challenging and rewarding.
• They also foster a culture of secrecy and
urgency around their product development,
which helps drive innovation.
• Google has a human resource strategy of
attracting and retaining the best talent in the
industry.
• They do this by providing a great work
environment, excellent compensation
packages, opportunities for career growth,
and other perks like free meals and employee
wellness programs.
• Talent Management Strategy & Practices
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41. Three levels of strategy are the
different levels of strategic
management that run across the
organization from the highest
corporate level to the bottom
functional level.
The three levels of strategy include the
• Corporate-level Strategy,
• Business-level Strategy, and
• Functional-level Strategy.
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42. M.COM I SEM I STRATEGIC MANAGEMENT
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43. • The difference between the three
levels of strategy is who to
implement the strategy. Since they
are affecting in the different levels;
• Corporate level strategy involves
top-level management.
• Business level strategy involves the
ability to compete of each business
unit.
• Functional level strategy involves
every single function in every
business unit.
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44. Corporate Level Strategy
• Corporate level strategy is the
highest level of all three levels of
strategy.
• The corporate level strategies are
used to define and guideline the
direction for the company in the big
picture.
• To put it simply, the corporate
strategy is the main theme of all
strategies within an organization.
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45. • There are three main themes of the corporate
level strategy includes growth strategy, stability
strategy, and retrenchment strategy.
• Growth strategy is a strategy that focused on
expanding the business to increase the revenue
in various ways: find new customers, selling
existing products to the new market, merger,
acquisition, and diversification. The growth
strategies are simply found in the Ansoff
Product-market matrix.
• Stability strategy is a strategy that focused on
stable the business (as its name) to improve the
current business without investment or
divestment.
• Retrenchment strategy is a strategy that focused
on stable the company’s financial position by
stop unprofitable operations to cut the
company’s expenses.
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46. Business Level
Strategy
• Business level strategy is how the company competes
with others in the market with its products or services.
• For the business level strategy, the company needs to
determine what is the competitive advantage for each
business unit.
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47. • There are 4 types of competitive
advantages for the business level
strategy following the Porter’s generic
model: cost leadership, differentiation,
cost focus, and focus differentiation.
• Cost leadership is a strategy that the
company produce products in huge
amounts or with low-cost labor to
compete.
• Differentiation is a strategy that seeks
advantage from the different by
developing brands that stand out from
the competitor.
• Cost focus is like the cost leadership
strategy but focused on the niche
market instead of the mass market.
• Focus differentiation is like
differentiation strategy but focused on
the niche market instead of the mass
market.
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48. Functional Level Strategy
• The functional level strategy is a strategy that is
implemented by each function in a business to
support the business-level strategy. Functional
level strategies typically are developed by
functional area executives.
• A business’s functional are include accounting,
finance, production, marketing, procurement,
service, research and development (R&D), human
resources, and logistics.
• To put it simply, the functional level strategy is
a strategy that uses in each department of a
single business unit.
• Additionally, if you ever heard about the Value
Chain (by Michael E. Porter), the functional level
strategy is strategies that are implemented in
each element of the Value Chain.
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49. M.COM I SEM I STRATEGIC MANAGEMENT
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50. Unit 2 Strategy Formulation, Implementation
and Evaluation
a) Strategic Formulation: Issues of strategic Choice, Stages and
Importance of strategic Formulation, Formulation of Alternative
Strategies: Mergers and Acquisitions, Joint Ventures, Diversification,
Turnaround, Divestment and Liquidation.
b) Corporate Portfolio Analysis- SWOT Analysis, BCG Matrix, GE Nine
Cell Matrix, Hofer’s Matrix, Importance and Problems of Strategic
Implementation, Importance, and Techniques of Strategic Evaluation
and Control
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51. Issues of
strategic
Choice
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Strategic choice is the mental process of selecting the
best or most appropriate strategy from the stock of
alternatives that serves the enterprise objectives.
‘Strategic choice’ involves selecting from among
several alternatives the most appropriate strategy
which will best serve the enterprise objectives.
To choose a good strategic option, past data, current
data, forecasted data, and various other factors
should be examined carefully.
The selection process becomes a complex job
because it is influenced by various factors.
52. Environmental
Constraints
• The dynamic elements of environment affect
the way in which choice of strategy is made.
• The survival and prosperity of a firm depend
largely on the interaction of the elements of
environment—such as shareholders, customers,
suppliers, competitors, the government and the
community.
• These elements constitute the external
constraints.
• The flexibility in the choice of strategy is often
governed by the extent and degree of the firm’s
dependence on the environment.
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53. Dynamism
of Market
Sector:
• Glueck has said, “The strategic choice is
affected by the relatively volatility of market
sector the firm chooses to operate in.”
Market forces vehemently influence the
choice of strategy.
• For example, a firm which obtains bulk
supply of its raw materials or components in
a competitive market will have greater
flexibility in its strategic choice than another
firm which must depend for its supplies on
an oligopolistic market.
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54. Intra-
Organisational
Factors:
• Organisational factors also affect the
strategic choice.
• These include organisational mission,
strategic intent, goals, organisation’s
business definition, resources, policies,
etc.
• Besides these factors, organisational
strengths, weaknesses, and capability to
implement strategic alternatives also
affect the strategic choice
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55. Corporate
Culture:
• In choosing a strategic alternative, strategy
makers must consider pressures from the
corporate culture.
• They must assess a strategy’s compatibility with
that culture. Every organisation has its own
corporate culture.
• It is made of a set of shared values, beliefs,
attitudes, customs, norms, etc.
• The successful functioning of an organisation
depends on ‘strategy-culture fit’.
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56. Industry and
Cultural
Backgrounds:
• Industry and cultural backgrounds
affect strategic choice.
• For example, executives with strong
ties within an industry tend to choose
strategies commonly used in that
industry.
• Other executives who have come to
the firm from another industry and
have strong ties outside the industry
tend to choose different strategies
from what is being currently used in
their industry.
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57. Pressures
from
Stakeholders:
• The attractiveness of a strategic alternative is
affected by its perceived compatibility with
the key stakeholders in a corporation’s task
environment.
• Creditors want to be paid on time. Unions
exert pressure for comparable wage and
employment security.
• Governments and interest groups demand
social responsibility. Shareholders want
dividends.
• All these pressures must be given some
consideration in the selection of the best
alternative.
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58. Impact of
Past
Strategies:
• It has been noticed that the choice of
current strategy may be influenced by
what type of strategies have been
used or followed in the past.
• Pearce and Robinson have said, “A
review of past strategy is the point at
which the process of strategic choice
begins. As such past strategy exerts
considerable influence on the final
strategic choice.”
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59. Personal
Characteristics:
• Personal factors like own perception,
views, interests, preferences, needs,
aspirations, personal disposition,
ambitions, etc., are important and
play a vital role in affecting strategic
choice.
• Even the most attractive alternative
might not be selected if it is contrary
to the attitude, mindset, needs,
desires and personality of the
selector/strategist himself.
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60. Value
System:
• The role of value system in choosing a
strategic alternative is well recognized.
• While evaluating the strategic
alternatives, different executives may
take different positions because of
differences in their personal values.
• Guth and Tagiuri found that personal
values were important determinants of
the choice of corporate strategy.
• Similarly, value system to top
management affects the types of strategy
that an executive chooses.
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61. Managerial
Attitude
towards
Risk:
• Managerial attitude towards
risk is an important factor that
influences the choice of strategy.
• Individuals differ considerably
in their attitude towards risk
taking. Some are risk prone,
others are risk averse.
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62. Managerial
Power
Relations:
• Choice of strategy is also influenced
by the power play among different
interest groups.
• William Guth in his study found that
strategic choice is significantly
affected by interpersonal relations
and power relationship among
members of the top management
team.
• Power politics is a crucial factor
determining the choice of strategy.
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https://www.businessmanagementideas.com/strategic-management/factors-affecting-strategic-choice/21044
63. Stages of strategic Formulation
• Strategy Formulation is an analytical
process of selection of the best
suitable course of action to meet the
organizational objectives and vision.
• It is one of the steps of the strategic
management process.
• The strategic plan allows an
organization to examine its resources,
provides a financial plan and
establishes the most appropriate
action plan for increasing profits.
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64. M.COM I SEM I STRATEGIC MANAGEMENT
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65. Establishing Organizational Objectives:
This involves establishing long-term goals of
an organization. Strategic decisions can be taken once
the organizational objectives are determined.
Analysis of Organizational Environment:
This involves SWOT analysis, meaning identifying the
company’s strengths and weaknesses and keeping
vigilance over competitors’ actions to understand
opportunities and threats.
Strengths and weaknesses are internal factors which
the company has control over. Opportunities and
threats, on the other hand, are external factors over
which the company has no control. A successful
organization builds on its strengths, overcomes its
weakness, identifies new opportunities and protects
against external threats.
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66. Forming quantitative goals: Defining targets so as to meet the company’s short-term
and long-term objectives. Example, 30% increase in revenue this year of a company.
Objectives in context with divisional plans: This involves setting up targets for every
department so that they work in coherence with the organization as a whole.
Performance Analysis: This is done to estimate the degree of variation between the
actual and the standard performance of an organization.
Selection of Strategy: This is the final step of strategy formulation. It involves
evaluation of the alternatives and selection of the best strategy amongst them to be
the strategy of the organization.
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https://businessjargons.com/strategy-formulation.html
68. Formulation of Alternative Strategies
• Mergers and Acquisitions
• Joint Ventures
• Diversification
• Turnaround
• Divestment and Liquidation.
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https://www.ihmnotes.in/assets/Docs/Sem-5/Strategic%20Management/Ch-3%20STRATEGY%20FORMULATION.pdf