Strategic management and strategic planning are processes that help organizations determine and achieve long-term goals. Strategic management involves managers formulating and implementing strategies and strategic goals. It provides direction for employees and encourages new ideas. Strategic planning is determining goals for the coming months and years. It gives an organization a path to follow and momentum to achieve a sustainable competitive advantage by taking a realistic view of its capabilities.

1. Large-scale action plan that sets the direction for an organization.
Strategy
Process that involves managers in the formulation and the implementation of
Definition
strategies and strategic goals.
Strategic Management (SM)
Introduction The process of determining and accomplishing goals in the coming months and years.
Strategic Planning (SP)
Providing direction and momentum
Provides the path for people to follow
Operation Encouraging new ideas
Why SM and SP
Developing a sustainable competitive advantages
Take a realistic and critical view of it capabilities and competencies
Strategy 3 Core Process of Business
Evaluate talent by linking people to particular strategic
milestones, developing future leaders, dealing with non-performer Vision & Mission
People 1
SWOT analysis
Central part of company's strategy Tools Techniques
Forecasting
Strategy with reality It's ...
Align people with goals & achieve results promised Growth strategy
2 Grand Strategy
3 Common Grand Strategies
1. Know your people & your business Stability strategy
2. Insist of realism Defensive strategy
3. Clear goals and priorities
STRATEGIC MANAGEMENT
4. Follow through 7 Essential Behaviors Strategy Map
Execution: getting things done
5. Reward the doers 1. Leadership New entrants
3 building blocks of effective execution
6. Expand people's capabilities Suppliers
7. Know yourself 5 competitive forces
Buyers
Substitutes
2. Cultural Change
Intensity of rivalry among current competitors
3. Selection & Evaluation People
Wide
Market scope
Gaining information Narrow
Porter
Anticipate competitor's moves Definition Based on...
Low Price
React appropriately Competitive Intelligence Source of competitive advantage
Unique and superior Value
4 competitive strategy
Cost leadership
Strategic Management Process
3 Strategic Plans Strategies Cost-focus
Focused-differentiation
Differentiation
1. Introduction
2. Growth
PLC (Product Life Cycle) 3. Maturity
4. Decline
+ Focus
Single product strategy - Vulnerability
Product Strategy
Unrelated product
Diversification product strategy Related product
Carry out Strategic Plans
4
People
Keep it simple
5 Maintain strategic control by Bryan Barry Focused
Keep Moving
week6 Strategic Management.mmap - 08/04/2011 - Mindjet