Strategic Management AIi Divandari Fall and Winter 2008

Ask yourself one question! How important is a picture when you are trying to assemble a jigsaw puzzle that has no straight edges and includes extra pieces in the box? Running a company in today’s markets is even more challenging than assembling that puzzle.

Strategy The word strategy which is derived from the Greek word strategos means “the general’s view”.

Why Study Strategy? Top executives are not lone wolves when it comes to devising and implementing strategy. They rely on lower-level managers to collect and analyze the regarding competition and commercial opportunities.

Why Study Strategy? The better the employees understand the firm’s strategy, the better they’ll be able to make choices that are consistent with it.

Strategic Management = Strategic Thinking + Strategic Planning

Strategic Thinking and Strategic Planning Role of strategic planning: to realize and support strategies developed through strategic thinking process and integrate these back into the business Strategic planning Role of strategic thinking: to seek innovation and imagine new and very different futures that may lead a company to redefine its core strategies and even its industry Strategic thinking Logical Systematic Conventional Prescriptive Convergent Synthetic Divergent Creative Intuitive Innovative StrategicManagement

Two Brains, Two Cognitive Styles Left HemisphereRight Hemisphere Verbal Sequential digital Logical analytic Rational Western thought Nonverbal Simultaneous analogical Gestalt synthetic Intuitive Eastern thought

Strategic Management Process by which a firm incorporates the tools and frameworks for developing and implementing strategy.

Vision and Mission Goals and Objectives Goals and Objectives Implementation and Strategic Leadership Implementation and Strategic Leadership Strategic Analysis Strategic Analysis Strategy l l kk The Strategic Management Process

Good Luck!