This document discusses strategic management and the strategic management process. It defines key concepts like corporate strategy, business strategy, and functional strategy. It also outlines the steps in the strategic management process as assessing the external and internal environment, formulating strategy, and executing strategy. Strengths, weaknesses, opportunities, and threats are identified as important to analyze. Different levels of strategy and types of competitive strategies are also defined.
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
Strategic formulation in Strategic managementYamini Kahaliya
This presentation is on Strategy formulation(of subject strategic management) and it covers following points :-
Define strategy formulation
Need of strategy formulation
Steps of strategy formulation
Problems in strategy formulation
Levels of strategy
Systematic approach to understand present state of organization and Specifies nature of problem and causes that provides basis for selecting strategies that involves systematic analysis of data for organization development.
Staffing recruitment and selection of INTERNATIONAL HUMAN RESOURCES MANAGEMENTAparrajithaAriyadasa
In staffing in international business, HR managers must determine when or where to expatriation. Expatriate workers are frequently assigned to key positions in overseas operations. Human resource managers must also decide on the issue of compensation. The compensation of expatriate workers must be examined along with compensation of local workers and the compensation of workers in the home country. Differences in compensation packages have significant implications on staffing success, expatriate performance and business performance. HR managers must also address the issue of repatriation. Repatriation happens when the worker needs to come back to the home country, usually to continue working for the company. Repatriation also happens when the expatriate worker retires. These issues have significant effects on the perspectives and performance of expatriate workers and local workers, and the effectiveness of IHRM in staffing.
Organizational Development is of the most concurrent HR subject specialization, aims to improve strategic human resource management role to improvise the business and organization development. action research and organizational diagnosis, various tools and techniques like sensitivity training, T group interventions help the readers to understand better details.
Chapter 10 Designing Adaptive OrganizationsRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Chapter 02 The Evolution of Management ThinkingRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Systematic approach to understand present state of organization and Specifies nature of problem and causes that provides basis for selecting strategies that involves systematic analysis of data for organization development.
Staffing recruitment and selection of INTERNATIONAL HUMAN RESOURCES MANAGEMENTAparrajithaAriyadasa
In staffing in international business, HR managers must determine when or where to expatriation. Expatriate workers are frequently assigned to key positions in overseas operations. Human resource managers must also decide on the issue of compensation. The compensation of expatriate workers must be examined along with compensation of local workers and the compensation of workers in the home country. Differences in compensation packages have significant implications on staffing success, expatriate performance and business performance. HR managers must also address the issue of repatriation. Repatriation happens when the worker needs to come back to the home country, usually to continue working for the company. Repatriation also happens when the expatriate worker retires. These issues have significant effects on the perspectives and performance of expatriate workers and local workers, and the effectiveness of IHRM in staffing.
Organizational Development is of the most concurrent HR subject specialization, aims to improve strategic human resource management role to improvise the business and organization development. action research and organizational diagnosis, various tools and techniques like sensitivity training, T group interventions help the readers to understand better details.
Chapter 10 Designing Adaptive OrganizationsRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Chapter 02 The Evolution of Management ThinkingRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Chapter 07 Managerial Planning and Goal SettingRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
Chapter 08 Strategy Formulation and ImplementationRayman Soe
Richard L. Daft addresses themes and issues directly relevant to both the everyday demands and significant challenges facing businesses today. Comprehensive coverage helps develop managers able to look beyond traditional techniques and ideas to tap into a full breadth of management skills. With the best in proven management and new competencies that harness creativity, D.A.F.T. is Management!
STRATEGY, STRATEGIC PLANNING, STRATEGIC DECISION, STRATEGIC CAPABILITY, OPERATIONS MANAGEMENT, ROLE OF OPERATIONS IN AN ORGANIZATION, SCOPE OF OPERATIONS MANAGEMENT, OPERATIONS STRATEGY, DIFFERENCES BETWEEN STRATEGIC, ADMINISTRATIVE AND OPERATIONAL DECISIONS, BUSINESS ADMINISTRATION, MANAGEMENT SCIENCE, EDUCATION AND LEARNING,
Chapter 8
Planning & Strategy
Planning & StrategyPlanning Identify appropriate goals & courses of actionStrategyThe cluster of decisions and actions that managers take to help an organization reach its goals.
Three Steps of Planning Process
Mission & GoalsDefining the BusinessWho are our customers?What customer needs are being satisfied?How are we satisfying customer needs Establishing Major GoalsProvides the organization with a sense of directionStretches the organization to higher levels of performance.Goals must be challenging but realistic with a definite period in which they are to be achieved.
Corporate-LevelPlanTop management’s decisions pertaining to the organization’s mission, overall strategy, and structure.Provides a framework for all other planning.Strategywhich industries and national markets an organization intends to compete.
Business-LevelPlanDivisional managers’ decisions pertaining to divisions long-term goals overall strategy, and structure.Identifies how the business will meet corporate goals.Strategyhow a division intends to compete against its rivals
Functional-LevelPlanFunctional managers’ decisions pertaining to the goals to help the division attain its goals.Functional StrategyA plan that indicates how a function intends to achieve its goals.
Time HorizonsThe intended duration of a plan.Long-term plans are usually 5 years or more.Intermediate-term plans are 1 to 5 years.Short-term plans are less than 1 year.Corporate and business-level goals and strategies require long- and intermediate-term plans.Functional plans focus on short-to intermediate-term plansMost organizations have a rolling planning cycle
Standing PlansUse in programmed decision situationsPolicies are general guides to action.Rules are formal written specific guides to action.Standard operating procedures (SOP) specify an exact series of actions to follow.Single-Use PlansDeveloped for a one-time, nonprogrammed issue.Programs, Projects
Why Planning is ImportantFacilitate participation in decision makingGive organization a sense of purposeHelps coordinate different functions & divisionsServes as a control mechanism
Scenario PlanningContingency plans“What if” analysesMultiple forecasts of potential scenariosPlans to respond to each scenarioNecessary because organizational environments are unpredictable.
Strategy FormulationSWOT AnalysisStrengthsWeaknessesOpportunitiesThreats
The Five Environmental Forces
Competitive Forces
Level of Rivalry
Increased competition results in lower profits.Potential for Entry
Easy entry leads to lower prices and profits.
Power of Suppliers
If there are only a few suppliers of important items, supply costs rise.
Power of Customers
If there are only a few large buyers, they can bargain down prices.
Substitutes
More available substitutes tend to drive down prices and profits.
Corporate-Level StrategiesAimed at growing the company, producing more goods & services, respond to threatsThree ...
Strategic Purpose
Business Level Strategy
Corporate Level and International Strategy
Strategy Direction and Methods of Developments
Organizing for Strategy Success
Enabling Strategy Success
Managing Strategic Change
Understanding Strategy Development
Key Learning Points
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Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
2. Proverbs 16:3 “Commit to the LORD
whatever you do, and your plans will
succeed.”
3. The plan of action that prescribes reserve
allocation and other activities for dealing with
the environment, achieving competitive
advantage and attaining organizational goals.
Competitive advantage- what set the
organization apart from others and provides
it with a distinctive edge in the market place.
4. To take the long term view and to take and to
see the big picture, including the
organization and the competitive
environment and, conside how they fit
together.
5. Set of decisions and actions used to
formulate and execute strategies that will
provides competitively superior fit between
the organization and environment so as to
achieve organizational goals.
6. Core competence- is something the
organization does especially well in
comparison to its competitors.
Build synergy- when organizational parts
interact to produce a joint effect that is
greater than the sum of the parts acting alone
synergy occurs.
Deliver Value- combination of benefits
received and cost paid.
7. Corporate level strategy(what business are we in?)
Organization as a whole
Business units and product lines that make up
the corporate entity.
Business level strategy (how do we compete?)
Pertains to each business unit or product line.
Concern amount of advertising,direction and
extent of research and development,product
changes etc.
Functional level strategy (how do we support the
business level strategy?)
Pertains to the major functional department
within business units
10. Strategy formulation
Include assessing the
external and internal
problems and
integrating the results
into goals and
strategy.
Strategy execution
Use of managerial and
organizational tools to
direct resources
toward accomplishing
strategic results
Administration and
implementation of the
strategic plan.
11. Includes a search for strengths, weakness,
opportunities and threat that affect
organizational performance.
12. Strengths – positive internal
characteristics that the organization can
exploit to achieve its strategic
performance goals.
Weakness – internal characteristics that
might inhibit or restrict the organization
performance
13. Threats – are the characteristics of the
external environment that may prevent the
organization on achieving its strategic
goals.
Opportunities- are characteristics of the
external environment that have the
potential to help the organization achieve
or exceed its strategic goals.
17. The organization’s mix of strategic business units and
product lines that fit together in such a way as to provide the
corporation with synergy and competitive advantage.
A division of the organization that has a unique business
mission, product line, competitors, and markets relative to
other SBUs in the same corporation.
A concept developed by the Boston Consulting Group that
evaluates strategic business units with respect to the
dimensions of business growth rate and market share.
18.
19.
20. Moving into a new business that is related to the
company’s existing business activities.
A strategy of moving into new lines of business.
Expanding into a totally new line of business.
Expanding into businesses that either produce the supplies
needed to make products or that distribute and sell those
products.
21.
22.
23.
24. A type of competitive strategy with which the organization
aggressively seeks efficient facilities, cuts costs, and employs
tight cost controls to be more efficient than competitors.
A type of competitive strategy with which the organization
seeks to distinguish its products or services from that of
competitors.
A type of competitive strategy that emphasizes concentration
on a specific regional market or buyer group.
25.
26.
27.
28. managers focus on
◦ leveraging and developing more from the firm’s
existing assets, capabilities, and core competencies
◦ The idea is that getting growth out of existing
businesses is cheaper and more effective than
trying to buy it from outside
29.
30. Collaboration with other organizations
(competitors) is an important part of how
today’s successful companies enter new areas
of business
34. Standardization of product design and
advertising strategies throughout the world
Can help the organization reap efficiencies by
product standardization
people everywhere want to buy the same
products and live the same way
35.
36. Modification of product design and
advertising strategies to suit the specific
needs of individual countries
Some companies reject the idea of single
global market
37.
38. Combines global coordination to attain
efficiency with flexibility to meet specific
needs in various countries
Global integration and national
responsiveness
World market operations
39.
40.
41.
42.
43.
44. According to Porter (1996) companies must
be adapt and flexible when it comes to
responding to the drastic changes in the
business industry.
Strategic positions are based on customer’s
requirements
Strategy needs to be expand as a horizon and
should not be of a single, planning cycle