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STRATEGIC MANAGEMENT ICS 395 AJ ALMANEY, PH.D.

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Presentation on theme: "STRATEGIC MANAGEMENT ICS 395 AJ ALMANEY, PH.D."— Presentation transcript:

1 STRATEGIC MANAGEMENT ICS 395 AJ ALMANEY, PH.D.

2 INFORMATION FOR THE INDEX CARDS
COURSE NO.: ICS 395 DAY: YOUR NAME: PHONE NO.: NAME OF CASE: YOUR GROUP NO.:

3 THE MEANING OF ANALYSIS
IT IS THE PROCESS OF BREAKING A SYSTEM DOWN INTO SUBCOMPONENTS AND STUDYING EACH SUBCOMPONENT IN TERMS OF SPECIFIC CRITERIA.

4 THE MEANING OF STRATEGIC ANALYSIS
IT IS THE PROCESS OF ANALYZING AN ORGANIZATION FROM THE STRATEGIC MANAGEMENT PERSPECTIVE.

5 THE MEANING OF STRATEGIC MANAGEMENT
IT IS THE PROCESS OF ANALYZING THE ORGANIZATION’S INTERNAL AND EXTERNAL ENVIRONMENTS AS A BASIS FOR SELECTING A COURSE OF ACTION DESIGNED TO ACHIEVE THE ORGANIZATION’S LONG AND SHORT-TERM OBJECTIVES.

6 INTERNAL ANALYSIS INTERNAL ANALYSIS IT IS THE PROCESS OF EXAMINING THE INTERNAL OPERATIONS OF THE COMPANY TO IDENTIFY THE STRENGTHS AND WEAKNESSES

7 INTERNAL ANALYSIS EXAMPLES
MICROSOFT: ORGANIZATIONAL HEALTH INDEX THE UNIVERSITY OF CHICAGO: ATTENTION TO SOFT STUFF

8 EXTERNAL ANALYSIS EXTERNAL ANALYSIS IT IS PROCESS OF EXAMINING THE EXTERNAL FORCES TO IDENTIFY THE OPPORTUNITIES AND THREATS C

9 EXTERNAL ANALYSIS EXAMPLES
OLD NAVY: FASTEST GROWING GAP UNIT JENNY MING’S ABILITY TO PREDICT FASHION SEVENTEEN MAGAZINE, DAUGHTERS TRIPS TO PARIS AND LONDON GENERAL MOTORS: DEPAUL UNIVERSITY

10 BENEFIT OF ENVIRONMENTAL ANALYSIS
HEIGHTENS AWARENESS OF INTERNAL CAPABILITIES AND EXTERNAL OPPORTUNITIES AND CHALLENGES.

11 DOES ANALYSIS IMPROVE THE BOTTOM LINE?
CONTINENTAL AIRLINES: WHERE DO WE NEED TO IMPROVE? BENCHMARKING, JD POWERS, FORTUNE’S BEST PLACES TO WORK IMPROVES THE BOTTOM LINE: SEARS’ STUDY: 5% -> 1.3% ->5%

12 AN OVERVIEW OF THE STRATEGIC ANALYSIS FRAMEWORK
THE DESCRIPTIVE PHASE THE DIAGNOSTIC PHASE THE PRESCRIPTIVE PHASE

13 THE DESCRIPTIVE PHASE THE PROCESS OF GATHERING INFORMATION ABOUT THE COMPANY’S INTERNAL AND EXTERNAL ENVIRONMENTS

14 THE DIAGNOSTIC PHASE IT INVOLVES EVALUATING AND PASSING JUDGEMENT ON THE GATHERED INFORMATION. ITS PURPOSE IS TO ASSESS THE PHYSICAL AND EMOTIONAL HEALTH OF THE COMPANY (I.E., ITS STRENGTHS AND WEAKNESSES)

15 THE PRESCRIPTIVE PHASE
DEVELOPING A STRATEGY TO IMPROVE THE ORGANIZATION’S COMPETITIVE POSITION

16 FOCUS OF THE DESCRIPTIVE PHASE
A. PROFILE OF THE INTERNAL ENVIRONMENT THE CORPORATE LEVEL THE FUNCTIONAL LEVE B. PROFILE OF THE EXTERNAL ENVIRONMENT THE TASK ENVIRONMENT THE GENERAL ENVIRONMENT

17 THE CORPORATE LEVEL STRATEGIC MANAGERS ENVIRONMENTAL ANALYSIS
BOARD OF DIRECTORS TOP MANAGEMENT ENVIRONMENTAL ANALYSIS INTERNAL ANALYSIS EXTERNAL ANALYSIS

18 CORPORATE LEVEL (CONT’D)
STRATEGY FORMULATION MISSION VALUES STATEMENT VISION OBJECTIVES GRAND STRATEGIES COMPETITIVE STRATEGIES SLOGAN

19 MISSION THE ORGANIZATION’S REASON FOR EXISTENCE
IT ANSWERS THE QUESTION: WHAT BUSINESS ARE WE IN?

20 PURPOSE THE REASON FOR THE ORGANIZATION’S EXISTENCE

21 THE MISSION STATEMENT OF HARD ROCK CAFE
TO SPREAD THE SPIRIT OF ROCK ‘N’ ROLL BY DELIVERING AN EXCEPTIONAL ENTERTAINMENT AND DINING EXPERIENCE.

22 THE MISSION OF STARBUCKS
TO ESTABLISH STARBUCKS AS THE PREMIER PURVEYOR OF THE FINEST COFFEE IN THE WORLD WHILE MAINTAINING OUR UNCOMPROMISING PRINCIPLES AS WE GROW

23 THE MISSION OF PAPA JOHN’S
PEOPLE ARE OUR MOST IMPORTANT ASSET. WE WILL PROVIDE CLEAR, CONSISTENT, STRATEGIC LEADERSHIP AND CAREER OPPORTUNITIES FOR OUR TEAM MEMBERS WHO EXHIBIT PASSION TOWARD THEIR WORK AND UPHOLD OUR CORE VALUES.

24 VALUES STATEMENT VALUES REFER TO MANAGEMENT BELIEFS, PRINCIPLES, AND COMMITMENTS TO STAKEHOLDERS. PRIMARY STAKEHOLDERS ARE: EMPLOYEES, CUSTOMERS, SHAREHOLDERS, AND SOCIETY.

25 VALUES OF HARD ROCK CAFE
WE ARE COMMITTED TO BEING AN IMPORTANT, CONTRIBUTING MEMBER OF OUR COMMUNITY AND OFFERING THE HARD ROCK FAMILY A FUN, HEALTHY, AND NURTURING WORK ENVIRONMENT WHILE ENSURING OUR LONG-TERM SUCCESS

26 FORD’S GUIDING PRINCIPLES
QUALITY COMES FIRST CUSTOMERS ARE OUR FOCUS EMPLOYEE INVOLVEMENT IS OUR WAY OF LIFE DEALERS AND SUPPLIERS ARE OUR PARTNERS INTEGRITY IS NEVER COMPROMISED

27 VALUES AND REPUTATION BEN AND JERRY’S WAL-MART HOME DEPOT
JOHNSON AND JOHNSON DISNEY SOUTHWEST AIRLINES COCA COLA MICROSOFT

28 VALUES AND REPUTATION JOHNSON AND JOHNSON (1) COCA COLA (2)
BEN AND JERRY’S (5) WAL-MART (6) HOME DEPOT (8) DISNEY (10) MICROSOFT (15) SOUTHWEST AIRLINES (25)

29 JOHNSON AND JOHNSON’S CREDO
OUR FIRST RESPONSIBILITY IS TO THE DOCTORS, NURSES AND PATIENTS, TO MOTHERS AND FATHERS AND ALL OTHERS WHO USE OUR PRODUCTS AND SERVICE. WE ARE RESPONSIBLE TO OUR EMPLOYEES, THE MEN AND WOMEN WHO WORK WITH US THROUGHOUT

30 J AND J’S CREDO THE WORLD
WE ARE RESPONSIBLE TO THE COMMUNITIES IN WHICH WE LIVE AND WORK AND TO THE WORLD COMMUNITY AS WELL. OUR FINAL RESPONSIBILITY IS TO OUR STOCKHOLDERS. BUSINESS MUST MAKE A PROFIT.

31 COMPANIES WITH WORST REPUTATION
EXXON K-MART

32 VISION TRADITIONAL MEANING
HALLUCINATION SOMETHING SEEN DURING HALLUCINATION THE POWER TO ANTICIPATE FUTURE EVENTS Can I see these notes

33 VISIONARY A PERSON WHO HALLUCINATES
A PERSON WHO IS GIVEN TO FANCIFUL OR IMPRACTICAL IDEAS A PERSON WHO IS GIVEN TO AUDACIOUS, SPECULATIVE IDEAS

34 EXAMPLES OF VISIONAIRES HISTORICAL ONES
THE WRIGHT BROTHERS, 1903 PHILO FARNSWORTH, 1939 EDWIN LAND, 1947 JOHN F. KENNEDY, 1961

35 VISIONARIES RECENT ONES
FRED SMITH TED TURNER SAM WALTON MICHAEL DELL

36 VISION IT DESCRIBES WHAT THE COMPAY ASPIRES TO BECOME

37 STARBUCKS MISSION OR VISION?
TO ESTABLISH STARBUCKS AS THE PREMIER PURVEYOR OF THE FINEST COFFEE IN THE WORLD WHILE MAINTAINING OUR UNCOMPROMISING PRINCIPLES AS WE GROW

38 EXAMPLES OF VISION STATEEMENTS
GENERAL MOTORS: OUR VISION FOR GM IS TO BE THE WORLD LEADER IN TRANSPORTATION PRODUCTS AND SERVICES, COMMITTED TO TOTAL CUSTOMER ENTHUSIASM THROUGH PEOPLE, TEAMWORK, TECHNOLOGY, AND CONTINUOUS IMPROVEMENT.

39 GM VISION (CONT’D) TO ACHIEVE OUR VISION, WE MUST GENERATE CUSTOMER ENTHUSIASM IN THE MARKETPLACE THAT TRANSLATES INTO LEADERSHIP IN SALES, EARNINGS, AND RETURNS ON INVESTMENT AND ASSETS.

40 VISION OF HOLY CROSS HOSPITAL
TO BECOME THE RECOGNIZED HEALTHCARE PROVIDER OF CHOICE WITHIN THE COMMUNITY BY ACHIEVING AN EXCEPTIONAL SERVICE, SUPERIOR QUALITY, LOW COST, AND CONVENIENT ACCESS. ,

41 HOLY CROSS VISION (CONT’D)
WE WILL ACHIEVE THIS BY BRINGING PARTNERS, LEADERS, AND PHYSICIANS TOGETHER INTO A COHESIVE TEAM THAT IS COMMITTED TO OUR CORE VALUES OF SERVICE, EXCELLENCE, RESPECT, VALUE, AND ENTHUSIASM.

42 COMPONENTS OF A VISION STATEMENT
STATE WHAT YOUR COMPANY ASPIRES TO BECOME IDENTIFY THE INTERNAL CONDITIONS (CORPORATE CULTURE) THAT WILL HELP IN IMPLEMENTING IT

43 OBJECTIVE AN EXPECTATION TARGET THAT IS BOTH MEASURABLE AND TIME BOUND.

44 A GOOD OBJECTIVE SPECIFIC MEASURABLE ATTAINABLE RELEVANT TIME BOUND

45 STRETCH OBJECTIVES THEY ARE OBJECTIVES THAT ARE PERCEIVED AS IMPOSSIBLE TO ACHIEVE

46 STRETCH OBJECTIVES GENERAL ELECTRIC
INCREASE SALES FROM 13% TO 25% MAKE RESOURCES AVAILABLE TO ADHIEVE THE OBJECTIVE

47 STRETCH OBJECTIVES CITIBANK
ACHIEVERS VS. NON-ACHIEVERS CONSEQUENCES HUMILIATION BURNOUT TURNOVER UNETHICAL BEHAVIOR

48 GOAL AN EXPECTATION TARGET THAT IS NEITHER MEASURABLE NOR BOUND BY A TIME HORIZON.

49 GRAND STRATEGY IT IS THE GENERAL PLAN OF ACTION TO ACHIEVE CORPORATE OBJECTIVES EXAMPLES: MARKET DEVELOPMENT WAL- MART IN GERMANY CONCENTRIC DIVERSIFICATION PEPSICO: TROPICANA COCA COLA: MINUTE MAID

50 GRAND STRATEGY HORIZONTAL INTEGRATION VERTICAL INTEGRATION
L’OREAL AND MEBELINE VERTICAL INTEGRATION GENERAL MOTORS FORWARD AND BACKWARD INTGEGRATION

51 GRAND STRATEGY CONGLOMERATE DIVERSIFICATION
GE: MEDICAL SYSTEMS, AIRCRAFT ENGINES, POWER GENERATORS, LIGHTING, APPLIANCES, CAPITAL DAEWOO: TRADING, SHIPBUILDING, CARS, TELECOMMUNICATIONS , DINERS CLUB… AMOZON.COM:

52 TACTICS REFERS TO SHORT-TERM (DAY TO DAY OR MONTH TO MONTH) DECISIONS THAT ENABLE THE COMPANY TO ADAPT TO ENVIRONMENTAL CHANGES.

53 COMPETITIVE STRATEGY A COURSE OF ACTION INTENDED TO PROVIDE THE ORGANIZATION WITH A SUSTAINABLE COMPETITIVE ADVANTAGE.

54 MICHAEL PORTER COMPETITIVE STRATEGIES
COST LEADERSHIP DELL COMPUTERS. PRODUCT DIFFERENTIATION TOYOTA FOCUS DELIA

55 WHICH STRATEGY IS THE MOST EFFECTIVE?
A COMBINATION STRATEGY WAL-MART: COST LEADERSHIP AND CUSTOMER SERVICE

56 SELECT SLOGANS FORMULATE A STRATEGIC SLOGAN
FORMULATE A MARKETING SLOGAN

57 STRATEGIC SLOGAN A MOTTO THAT SUMS UP THE COMPANY’S CORPORATE CULTURE, ITS VISION, OR GRAND STRATEGY.

58 EXAMPLES OF STRATEGIC SLOGANS
FORD: QUALITY IS JOB ONE APPLE: THINK DIFFERENT SOUTHWEST AIRLINES: A SYMBOL OF FREEDOM HEWLETT PACKARD: INVENT TOYOTO: THE RELENTLESS PURSUIT OF PERFECTION

59 MARKETING SLOGAN A MOTTO DESIGNED TO SELL A PRODUCT OR SERVICE.

60 MARKETING SLOGAN EXAMPLES
PEPSI: THE JOY OF COLA HOOVER: DEEP DOWN, YOU WANT HOOVER BAYER ASPIRING: POWERFUL PAIN RELIEVER AND MORE MCDONALD’S: DID SOMEBODY SAY MCDONALDS MICROSOFT: WHERE DO YOU WANT TO GO TODAY?

61 CORPORATE LEVEL (CONT’D)
STRATEGY IMPLEMENTATION LEADERSHIP MOTIVATION COMMUNICATION CORPORATE CULTURE ORGANIZATIONAL STRUCTURE POLICIES BUDGETARY ALLOCATIONS

62 CORPORATE CULTURE A SET OF BEHAVIORS OR QUALITIES THAT ARE VALUED BY A GROUP. DAIMLER/CHRYSLER MERGING SPEED (NUKE IT OUT) MEETINGS LENGTH SMOKING LUNCH BEVERAGE ADDRESSING THE CEO

63 THE FUNCTIONAL LEVEL MARKETING
PRODUCTS/SERVICES MARKET SHARE TARGET MARKET SALES VOLUME ADVERTISING AND PROMOTION DISTRIBUTION PRICING

64 PRODUCTION LOCATION OF FACILITIES NEWSNESS OF FACILITIES
QUALITY CONTROL PRODUCTION CAPACITY INVENTORY

65 HUMAN RESOURCES RECRUITMENT SELECTION TRAINING AND DEVELOPMENT
COMPENSATION PERFORMANCE APPRAISAL SUCCESSION PLANNING

66 FINANCE MANAGEMENT OF CASH MANAGEMENT OF INVENTORIES
MANAGEMENT OF ACCOUNTS RECEIVABLE MANAGEMENT OF TOTAL ASSETS GENERAL PROFIT PICTURE

67 THE DIAGNOSTIC PHASE DIAGNOSE THE STRENGTHS AND WEAKNESSES
A STRENGTH IS A FAVORABLE CONDITION IN THE ORGANIZATION’S INTERNAL ENVIRONMENT. A WEAKNESS IS AN UNFAVORABLE CONDITION IN THE ORGANIZATION’S INTERNAL ENVIRONMENT.

68 STRENGTHS AND WEAKNESSE OF THE CORPORATE LEVEL
STREATEGIC MANAGERS: BOARD OF DIRECTORS TOP MANAGEMENT STRATEGY FORMULATION: MISSION, VISION, OBJECTIVES, GRAND STRATEGIES, COMPETITIVE STRATEGIES

69 STRENGTHS AND WEAKNESSE OF THE CORPORATE LEVEL
STREATEGY IMPLEMENTATION: SELECT TWO OF THE FOLLOWING: MOTIVATION, COMMUNICATION, CORP. CULTURE, STRUCTURE, POLICIES, BUDGET

70 STRENGTHS AND WEAKNESSE OF THE FUNCTIONAL LEVEL
MARKETING FINANCE SELECT TWO OF: PRODUCTION, R&D, HUMAN RESOURCES, PUBLIC AFFAIRS

71 IDENTIFY THE DISTINCTIVE COMPETENCY
THAT ASPECT OF THE COMPANY’S OPERATIONS THAT GIVES IT A SUSTAINABLE ADVANTAGE OVER ITS COMPETITORS.

72 DISTINCTIVE COMPETENCY EXAMPLES
SOUTHWEST AIRLINES ENTERPRISE RENT A CAR

73 DISTINCTIVE COMPETENCY TEST QUESTIONS
CAN IT BE EASILY COPIED BY THE COMPETITORS? DOES IT OFFER ANY VALUE TO THE CUSTOMERS?

74 CORE COMPETENCY THE PRINCIPAL BUSINESS OF THE COMPANY
THE BUSINESS THAT THE COMPANY STARTED OUT WITH CORE PRODUCTS, CORE MARKET, CORE CUSTOMERS

75 IDENTIFY THE KEY WEAKNESS
THE KEY WEAKNESS IS ANY UNFAVORABLE CONDITION THAT CAN PLACE THE COMPANY AT A COMPETITIVE DISADVANTAGE OR DRIVE IT OUT OF BUSINESS.

76 DIAGNOSE THE OPPORTUNITIES AND THREATS
AN OPPORTUNITY IS A FAVORABLE CONDITION IN THE EXTERNAL ENVIRONMENT. A THREAT IS AN UNFAVORABLE CONDITION IN THE EXTERNAL ENVIRONMENT.

77 OPPORTUNITIES/THREATS EXAMPLE
CHARLES SCHWAB VS. MERRILL LYNCH E- COMMERCE AND HOME DEPOT BREAKFAST CEREAL , BAGELS, AND MUFFINS MIXED EFFECTS OF FORCES: FILEN’S BASEMENT

78 DIAGNOSE THE OPPORTUNITIES AND THREATS
IDENIFY THE OPPORTUNITIES AND THREATS IN: THE TASK ENVIRONMENT (INDUSTRY, COMPETITORS, CUSTOMERS …) THE GENERAL ENVIRONMENT (ECONOMY, DEMOGRAPHICS, TECHNOLOGY …) SELECT THE KEY OPPORTUNITY AND KEY THREAT

79 DIAGNOSE THE PROBLEMS: DEFINITION OF TERMS
SYMPTOM CAUSE PROBLEM

80 THE MEANING OF SYMPTOM AND CAUSE
A SYMPTOM IS A SIGN OR AN INDICATION OF THE EXISTENCE OF A PROBLEM A CAUSE IS THE CONDITION THAT GIVES RISE TO THE SYMPTOM

81 THE DIFFERENCE BETWEEN SYMPTOM AND CAUSE
A SYMPTOM IS AN INTERNAL WEAKNESS. A CAUSE CAN BE EITHER AN INTERNAL WEAKNESS OR AN EXTERNAL THREAT. A SYMPTOM IS A DEPENDENT VARIABLE. A CAUSE IS AN INDEPENDENT VARIABLE A SYMPTOM IS READILY KNOWN, A CAUSE IS NOT

82 THE MEANING OF PROBLEM A PROBLEM IS A GAP BETWEEN THE EXISTING CONDITIONS AND THE DESIRED CONDITIONS

83 STATEMENT OF THE PROBLEM
A PROBLEM IS STATED IN TERMS OF AN INTERNAL COMPONENT WHERE THE SYMPTOM LIES

84 STATEMENT OF THE PROBLEM
PROBLEM: FINANCE SYMPTOM: DECLINING PROFITS PROBLEM: HUMAN RESOURCES SYMPTOM: HIGH TURNOVER PROBLEM: R&D SYMPTOM: LACK OF NEW PRODUCTS PROBLEM: PRODUCTION: EQUIPMENT BREAKDOWNS

85 STATEMENT OF THE PROBLEM, SYMPTOM, AND CAUSES
PROBLEM: FINANCE SYMPTOM: LOW PROFIT MARGIN CAUSES: DECLINING MARKET SHARE POOR PRODUCT QUALITY STIFF COMPETITION LACK OF PRODUCT INNOVATION

86 THE STRATEGIC MATCH IT IS THE PROCESS OF ESTABLISHING LINKAGES BETWEEN THE INTERNAL STRENGTHS AND WEAKNESSES AND THE EXTERNAL OPPORTUNITIES AND THREATS

87 DIMENSIONS OF STRATEGIC MATCH
LEVERAGE=STRENGTH AND OPPORTUNITY: HP, OFFICE DEPOT CONSTRAINT=WEAKNESS AND OPPORTUNITY: POSTAL SERVICE MAINTENANCE=STRENGTH AND THREAT: PIZZA HUT, E-BAY VULNERABILITY=WEAKNESS AND THREAT: MONTGOMERY WARD, COM ED

88 THE PRIMARY STRATEGIC MATCH POSITION
IT IS THE DIMENSION THAT MOST CLOSELY DESCRIBES THE COMPANY’S CONDITIONS.

89 DETERMINING THE PRIMARY STRATEGIC MATCH POSITION
LOGIC/COMMON SENSE PORTFOLIO PLANNING TOOLS THE BOSTON CONSULTING GROUP MATRIX (BCG) THE GE PLANNING GRID

90 THE BCG MATRIX MARKET SHARE STAR QUESTION MARK CASH COW DOG
MARKET GROWTH CASH COW DOG

91 GE PLANNING GRID Business Strategy/ Competitive Position
Industry Attractiveness

92 BUSINESS STRENGTHS/ COMPETITIVE POSITION
SUCCESS FACTORS MARKET SHARE BREADTH OF PRODUCT LINE DISTRIBUTION CHANNELS PRICE COMPETITIVENESS ADVERTISING EFFECTIVENESS PRODUCT QUALITY CUSTOMER SERVICE

93 INDUSTRY ATTRACTIVENESS
EVALUATION CRITERIA INDUSTRY GROWTH INDUSTRY SIZE INDUSTRY CYCLICALITY INDUSTRY SEASONALITY ENTRY AND EXIST BARRIERS COMPETITORS GOVERNMENT REGULATIONS

94 GE PLANNING GRID Business Strength/ Competitive Position
Leverage Constraint Industry Attractiveness Maintenance Vulnerability

95 IDENTIFY THE DISTINCTIVE COMPETENCY AND MAJOR WEAKNESS OF THE KEY COMPETITOR

96 FORMULATE A STRATGIC PLAN
WRITE A NEW MISSION STATEMENT WRITE A NEW VISION STATEMENT WRITE A VALUES STATEMENT SET LONG AND SHORT-TERM OBJECTIVES SELECT GRAND STRATEGIES

97 FORMULATE A STRATEGIC PLAN
FORMULATE OPERATIONAL STRATEGIES SELECT ONE STRATEGIC SLOGAN SELECT ONE MARKETING SLOGAN

98 WRITE A NEW MISSION STATEMENT
BUSINESS DOMAIN PRODUCTS AND SERVICES TARGET MARKET DISTRIBUTION CHANNELS

99 WITE A NEW VISION STATEMENT
WHAT DO YOU ASPIRE TO BECOME? WHAT TYPE OF CORPORATE CULTURE WOULD YOU CREATE TO HELP YOU GET THERE?

100 WRITE A VALUES STATEMENT
WHAT TYPE OF RESPONSIBILITIES DO YOU HAVE TOWARD YOUR MAJOR STAKEHOLDERS? INCLUDE AT LEAST FOUR GROUPS OF STAKEHOLDERS

101 CORPORATE OBJECTIVES SET LONG -TERM CORPORATE OBJECTIVES
SET SHORT-TERM CORPORATE OBJECTIVES

102 SELECT A GRAND STRATEGY
GENERATE STRATEGIC OPTIONS GENERATE A SET OF EVALUATIVE CRITERIA: EXPANSION IN EUROPE, MERGER APPLY THE CRITERIA TO THE STRATEGIC OPTIONS CHOOSE THE MOST EFFECTIVE STRATEGY

103 SELECT A COMPETITIVE STRATEGY
COST LEADERSHIP, PRODUCT DIFFERENTIAION, FOCUS JUSTIFY YOUR SELECTION

104 OPERATIONAL STRATEGY A DETAILED PLAN OF ACTION FORMULATED TO ACHIEVE DEPARTMENTAL OBJECTIVES

105 FORMULATE TWO OPERATIONAL STRATEGIES
AT LEAST ONE TO IMPLMENT THE GRAND STRATEGY A SECOND TO SOLVE A PROBLEM OR REMOVE A WEAKNESS OTHERS IF APPLICABLE

106 STRUCTURE OF THE OPERATIONAL STRATEGY
LONG AND SHORT-TERM OBJECTIVES SPECIFIC RECOMMENDATIONS CLASSIFIED BY SUBCOMPONENTS TIME TABLE COST SAVINGS, IF ANY


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