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Week 01 Nature of SM for Masters Students.ppt
1. Ch 1 -1
Chapter 1
The Nature of Strategic Management
Strategic Management:
Concepts & Cases
13th Edition
Fred David
Course Instructor
Muhammad Zahid
Zahidmaitlo2011@gmail.com
2. Course Portfolio
Text Book
Strategic Management: Concepts & Cases13th Edition
Fred David
Reference Book
Good to Great by Beta
Articles and Cases
Harvard Business Review (HBR)
Guest Speaker Session
Term Project
Ch 1 -2
3. Class Decorum Rules
Ask 100+times if things are doubtful..
You can consult any time with me but in
official timings only.
Have fun and Enjoyment but do not cross
your line.
Ch 1 -3
5. Ch 1 -5
Art & science of formulating,
implementing, and evaluating,
cross-functional decisions that
enable an organization to achieve its
objectives
Strategic Management –Defined
6. Ch 1 -6
Purpose of Strategic Management
To exploit and create new and different
opportunities for tomorrow
7. Ch 1 -7
Strategic Management
In essence, the strategic plan is a
company’s game plan
8. Ch 1 -8
3 Stages of the Strategic
Management Process
Strategy formulation
Strategy implementation
Strategy evaluation
10. Ch 1 -10
Issues in Strategy
Formulation
Businesses to enter
Businesses to abandon
Allocation of resources
Expansion or
diversification
International markets
Mergers or joint
ventures
Avoidance of hostile
takeover
15. Ch 1 -15
Peter Drucker: Think through the
overall mission of a business. Ask
the key question:
“What is our Business?”
Prime Task of
Strategic Management
16. Ch 1 -16
The strategic management process
attempts to organize quantitative and
qualitative information under conditions of
uncertainty
Integrating Intuition & Analysis
17. Ch 1 -17
Intuition is based on:
Past experiences
Judgment
Feelings
Integrating Intuition & Analysis
Intuition is useful for decision making in
conditions of:
Great uncertainty
Little precedent
Highly interrelated variables
Several plausible alternatives
18. Ch 1 -18
Involve management at all levels
Intuition & Judgment
Influence all analyses
Integrating Intuition & Analysis
19. Ch 1 -19
Organizations should continually
monitor internal and external
events and trends so that timely
changes can be made as needed
Adapting to Change
20. Ch 1 -20
Key Terms in Strategic Management
Competitive advantage
Strategists
Vision and mission statements
External opportunities and threats
Internal strengths and weaknesses
Long-term objectives
Strategies
Annual objectives
Policies
21. Ch 1 -21
Anything that a firm does especially
well compared to rival firms
Strategic Management is
Gaining and Maintaining
Competitive Advantage
22. Ch 1 -22
1. Continually adapting to changes in
external trends and events and internal
capabilities, competencies, and resources
Achieving Sustained Competitive
Advantage
2. Effectively formulating, implementing, and
evaluating strategies that capitalize on those
factors
24. Ch 1 -24
Vision Statement –
What do we want to become?
Mission Statement –
What is our business?
Vision and Mission Statements
25. Ch 1 -25
External Opportunities and Threats
Analysis of Trends
Economic
Social
Cultural
Demographic/Environmental
Political, Legal, Governmental
Technological
Competitors
26. Ch 1 -26
Basic Tenet of Strategic Management
External Opportunities and Threats
Strategy Formulation
Take advantage of
External Opportunities
Avoid/minimize impact of
External Threats
27. Ch 1 -27
Controllable activities performed
especially well or poorly
Determined relative to competitors
Internal Strengths and Weaknesses
28. Ch 1 -28
Typically located in functional areas of the firm
Management
Marketing
Finance/Accounting
Production/Operations
Research & Development
Management Information Systems
Internal Strengths and Weaknesses
29. Ch 1 -29
Assessing the Internal Environment
Internal Strengths and Weaknesses
Internal Factors
Performance Measures
Ratios
Industry Averages
Survey Data
30. Ch 1 -30
Specific results that an organization
seeks to achieve in pursuing its basic
mission
Long-term means more than one year
Long-Term Objectives
31. Ch 1 -31
Long-Term Objectives
Essential for ensuring the firm’s success
Provide direction
Aid in evaluation
Create synergy
Reveal priorities
Focus coordination
Provide basis for planning, organizing,
motivating, and controlling
32. Ch 1 -32
Means by which long-term objectives
are achieved
Strategies