The document discusses strategic management, including defining strategy, levels of strategy, strategic analysis methods, and McKenzie's 7S framework. It provides definitions for key strategic management terms like mission, vision, goals, objectives. The strategic management process involves formulation, implementation, and evaluation of strategies to help organizations achieve objectives and meet stakeholder needs.

1. strategy
N.Prasha

2.  What is strategy?
 Characteristics of strategic decisions.
 Levels of strategy.
 What is strategic management.
 Strategic analysis methods.
 Importance of strategic managements.
 Key terms of strategic management.
 Strategic management process.
 McKenzie's 7’s framework

3.  Strategy is the direction and scope of an
organization over the long-term which
achieves advantage for the organization
through its configuration of resources
within a challenging environment , to
meet the needs of markets and to fulfill
stakeholder expectation

4.  Be complex in nature.
 Be made in situations of uncertainty.
 Affect operational decisions.
 Require an integrated approach.
 Involve considerable change.

5. Strategies exists at several levels in any organization. They are,
 Corporate Strategy : Is concerned with the overall purpose & scope of the
business to meet stakeholder expectations.
 Business Unit Strategy : Is concerned more with how a business competes
successfully in a particular market.
 Operational Strategy : Is concerned with how each part of the business is
organized to deliver the corporate & business-unit level strategic , direction .

6.  Strategic management is the process of formulating,
implementing, & evaluating cross functional
decisions enabling an organization to achieve
corporate goal & objectives effectively & efficiently

7.  It enhanced communication
 It improved understanding
 It provide great commitment
 All managers & employers on a mission to help the firm success.
 It provides a way to anticipate future problems & opportunities.
 It provides employees which clear objectives & directions for the future of the
organization.
 It increase employees satisfaction & motivation.
 It results in faster & better decision making
 It results on cost saving

8. Term Definition
Mission Overriding purpose in line with the values or expectations of
stakeholders
Vision of strategies
intent
Desired future state the aspiration of the organization
Goal General statement of aim or purpose
Objectives Quantification or more precise statement of the goal.
Strategic capability Resources, activities & processes. Some will be unique & provide
competitive advantage.
Strategies Long term direction
Business model How product, service & information ‘flow’ between participating
parties
Control The monitoring of action steps to:
Assess effectiveness of strategies andantinos
Modify as necessary strategies & or actions.

9.  The process of strategic analysis can be assisted by number of
tools, including,
 PEST analysis
 Porter’s five force model
 Market segmentation
 SWOT analysis
 Critical success factor analysis
 Etc.

10. Strategic
formulation/Strategic
planning
Strategic
implementation
Strategy evaluation &
control

11.  This is the process of establishing the organization’s mission,
objectives & choosing among alternative strategies. Sometimes
strategy formulation is called “strategic planning”.
 Basically strategic formulation occurs within 4 area in an
organization,
1. Corporate level strategic formulation
2. Divisional level strategic formulation
3. Business level strategic formulation
4. Operational level strategic formulization

12. This includes developing a strategy-supportive culture,
creating an effective organizational structure, redirecting
marketing efforts, preparing budgets, developing and utilizing
information systems, and linking employee compensation to
organizational performance.

13. Strategic implementation requires many organizational dimensions
in order to be success.
 Leadership
 Organizational culture
 Organizational structure
 Resources
 Employees etc.:

14.  McKenzie's 7’s framework provide a better perspective for a
strategic implementation
Strategy
Style
Shared
value
Structure
Staffing
skills
Systems

15.  Staffing : This is all about Human Resource Management. HR
planning, recruitment & selection, training & development,
reward management, performance evaluation, etc. are the main
HRM activities that will lead to a conductive organizational
envioronment.Such environment becomes a corporate capability.
 Skills : There are basically 3 types of skills to be possessed in
both managers & employees, they are Technical skill,
Interpersonal skills, Conceptual skills
 System : Toda every organization seems to be a system. There are
sub system also with the system. In order to gain competitive
advantage, those systems & sub systems must work smoothly.

16.  Structure : Organizational structure directly affected
effectiveness, efficiency, & productivity. Organization may have
flat / tall structuctures, simple /complex structures etc.
 Style : The way managers & employees think & bevave,It is very
important that an organization must have a flexible & pleasant
styles in order to achieve organizational goals & objectives.
 Shared values : Both managers & employees work together to
achieve organizational goals & objectives.
 Strategy : It is the process of formulating, implementing &
evaluating cross functional decisions enabling an organization to
achieve corporate goals & objectives effectively & efficiently

17. This is the final stage in strategic management.
Strategic Evaluation
 Strategic evaluation is the process of accessing alternative
strategies in order to be selected the best strategy for
implementation.
 The fundamentals purpose of strategic evaluation is to select most
effective & efficient strategy to implement .

18. Strategic control
 Strategic control is the process of ensuring whether this specific
objectives set in the strategic plans are being successfully
achieved or not.
 Strategic control basically contains 3 stages,
1. Feed forward control : The control which take place before a
particular strategy or a activity implemented.
2. Concurrent control : The control which take place within the
ongoing activities.
3. Feedback control : The ultimate control which take place once
a particular strategy implemented

19. Setting the standards
Measure actual performances
Compare actual performances against
standards
Evaluate & take corrective action