Strategic Management Lecture 11 Welcome to Strategic Management BBA353 Charmaine Chan BA Dept.

Strategic Management Lecture 12 Strategic Management 1. Case study 2. Strategic Management Concepts and Models

Strategic Management Lecture 13 Cases Study 2. How to analysis a Strategic Management Case: Step 1:Briefly introduce the company background External Internal strengths/weaknesses Step 2:Analysis the company’s External & Internal strengths/weaknesses with the Strategic Management theories/models Recommendations/Strategies Step 3:Recommendations/Strategies and how they could be implemented

Strategic Management Lecture 14 Strategic Management Case Study 2 Guidelines (also see Textbook Introduction xxix---FIFTY TIPS) Be Practical: -make reasonable assumption with limited information -“I don’t have enough information…” Check the Internet and library!!! Justification: -Show how you support your recommendation /how to implement Be Realistic: -The recommendation should be feasible. Contribution:-Be a good listener, be a good contributor -Make responds with reasons -Defense yourselves with reasons

Strategic Management Lecture 15 Introduction to Strategic Management Concepts Definition:  Business Policy  Strategy is the direction and scope of an organization over the long term which achieves advantage for an organizations through its configuration of resources within a changing environment to meet the needs of markets and to fulfill stakeholder expectations.  How to formulate, implement and evaluate cross-functional decisions to achieve an organization’s objectives.  Integrating management, marketing, finance, production, R&D etc.. to achieve organizational success.

Strategic Management Lecture 16 Develop Vision & Mission Statement Chapter 2 Establish Long- Term Objectives Chapter 5 Generate, Evaluation and Select Strategies Chapter 6 Implement Strategies- Management Issues Chapter 7 Implement Strategies--- Marketing, Finance, R&D Chapter 8 Measure & Evaluate Performance Chapter 9 Internal Assessment Chapter 4 External Assessment Chapter3 Feedback Strategy EvaluationStrategy ImplementationStrategy Formulation A Comprehensive Strategic-Management Model

Strategic Management Lecture 17 Stages of Strategic Planning Strategy Formulation Step 1: - Mission -External opportunities / threats -Internal strengths/weaknesses -Generate possible strategies -Choose suitable strategies

Strategic Management Lecture 18 Stages of Strategic Management Strategy Implementation Step 2: Step 3: Strategy Evaluation - Create suitable policies -Re-allocate resources/motivate employees -Develop a strategy-supportive cultures -Create an effective organizational structures -Measure performance -Take corrective actions

Strategic Management Lecture Due to systematic planning, improve in sales, profits, productivity, growth, competitiveness 2. Provide communication framework among staff, encourage forward thinking, favorable attitude towards changes, co-operate/ enthusiastic to solve problem, increase human resources productivity 3. Effective and efficient of time and resources, discipline and formality to the management Benefits of Strategic Management Why some organizations do no Strategic Planning? 1.Poor reward structure---get punished if fails, better do nothing 2.Waste of time---Time spent on planning is an investment 3.Too expensive---oppose to spending resources 4.Content with success---no plan needed as the company is successful 5.Previous bad experience, Fear Failure….