© 2004 Mark H. Hansen 1 Why Strategy? Business Management 499 Strategic Management.

Slides:



Advertisements
Similar presentations
3.1 © 2007 by Prentice Hall 3 Chapter Information Systems, Organizations, and Strategy.
Advertisements

© March What is management? "Management is the art of getting things done through and with people in formally organized groups. (Koontz ) Management.
Chapter 1 Introduction.
The business we have chosen is the Walt Disney Company, here we have the logo and mission statement. "The mission of The Walt Disney Company is to be one.
Chapter 1.
Strategic Management What is Strategy and the Strategic Management Process? Mohammad Najjar, PhD Management Science.
Strategic Planning and the Marketing Management Process
Chapter 1.
Welcome ! The Office of Career Development Preview Day 2003.
Marketing at the Smith School
Chapter OneCopyright 2009 Pearson Education, Inc. Publishing as Prentice Hall. 1 Chapter 1 Introduction.
Chapter 1.
1 Walt is Finance? Finance is both an academic and a professional discipline devoted to the study and practice of making “investments.” Investment - anything.
Personal Selling Opportunities IN THE AGE OF INFORMATION C H A P T E R 2.
McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Marketing Concept, Customer Needs, American Marketing Association, Customers, Employees,
The Walt Disney Company
1-1 What is Strategy. 1-2 At the height of its power: employees $6 Billion profits Then hit problems: employees lost jobs $5 Billion loss.
AS Business Studies Enterprise and Entrepreneurship.
Yolanda Cesar Joy Grace The Largest media and entertainment conglomerate The Walt Disney Company.
Chapter 1: Managers, Profits, and Markets McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.
How Much Do I Remember? Are you ready to play.....
FOUNDATION BUSINESS SIMULATION
How Much Do I Remember? Are you ready to play.....
What is strategy?: Creating value for shareholders and stakeholders Paul C. Godfrey Mark H. Hansen Marriott School of Management Brigham Young University.
Marketing All Around Us! 2nd Period Marketing Principles.
Choosing Economics By The Department of Economics University College Cork.
1-1 Strategic Planning and the Marketing Management Process Chapter 1 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights.
Strategic Planning and the Marketing Management Process.
Copyright © 2011 The McGraw-Hill Companies All Rights ReservedMcGraw-Hill/Irwin Chapter 1 Strategic Planning and the Marketing Management Process.
THINKING STRATEGICALLY : The Concept of Strategy and the Pursuit of Sustained Superior Profits.
BUS Internal analysis Context: SM process model Resources: tangible and intangible Capabilities: combined resources Distinctive competences: Combined.
Management 3806 Lindsay Bolton Neal Thunder Chief Jessica Huang Ika Rashid Caroline Suo.
This presentation contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. Factors that could.
Metro and Non-Metro Business Incubators: Similarities and Critical Differences Peter Schaeffer, WVU Randall Jackson, WVU Mark Middleton, WVU Shaoming Cheng,
MARCHANDISING STRAGET A SNAP SHOT Merchandising strategy is all about targeting the right people with right merchandise at the right time at right place.
Personnel and Human Resource Management. Organizations are established to achieve specific objectives. Many of them compete with one another in the attempt.
VED S.A.. VED Your trusted partner for Investment Management, Mergers & Acquisitions and Real Estate Investments VED S.A. 1.
The Walt Disney Company. Address 500 S. Buena Vista St. Burbank, CA
500 S. Buena Vista St. Burbank, CA  Began as a cartoon studio in the 1920s  Walt Disney Productions issued its first stock  1949.
chapter 6 Strategy McGraw-Hill/Irwin Principles of Management © 2008 The McGraw-Hill Companies, Inc., All Rights Reserved.
The Walt Disney Company
Scottish Investment Operations. Agenda About SIO Industry overview Careers Where to find more information.
What Is Marketing? Economics of Marketing 2 Win the heart, and the mind will follow!
Sales Management 6 Sales Organization. Purpose of Sales Organization Divide and coordinate activities so that the group can accomplish objectives better.
Strategic Planning and the Marketing Management Process © 2007 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin Marketing Management,
Chapter 1 Introduction.
1 An Introduction to Marketing Previous Next To replay any audio, click on the sound icon.
Research and Evaluation 4.1 INVESTMENT PRINCIPLES.
The Tools of Strategic Analysis 1-1 Copyright © 2006 Pearson Prentice Hall. All rights reserved. Strategic Management & Competitive Advantage - Barney.
Advertising. Focus Questions What is a brand? How do companies capture your interest in their products? Why do so many advertisements target young people?
Why BI….? Most companies collect a large amount of data from their business operations. To keep track of that information, a business and would need to.
MARKETING. What is marketing? There are many definitions of marketing but one of the simplest suggests that: "Marketing is getting the right product or.
Lecture 01: Introduction Niels-Erik Wergin Strategic Management.
1. The Walt Disney Company is an entertainment conglomerate broken down into 5 business segments; media networks, parks & resorts, studio entertainment,
Organization  As a member of the Strategy & Business Development team, this position will support the development and execution of Corporate, Sector,
MGT 301 Chapter 1: Introduction to Human Resource Management FEIHAN AHSAN BRAC University Sep 15th, 2013.
JANI AARTI En No:  By the end of this lecture, students should be able to: 1.Explain the functions of management 2.Define and explain strategy.
What is Strategy and the Strategic Management Process? 1-1 Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall. Chapter 1.
Chapter 1 What is strategy and why do you have it?
Chapter 1: Managers, Profits, and Markets
An electronic presentation by Douglas Cloud Pepperdine University
Introduction to Business (MRK 151)
Strategic Planning and the Marketing Management Process
INTRODUCTION OF PROPERTY MARKETING
Chapter 1 What is Strategy? Instructor: Erlan Bakiev, Ph.D.
The Value of Sports and Entertainment
Chapter 8.
Chapter 7.
Chapter 1: Managerial Economics Managers, Profits, and Markets
Chapter 1 Introduction.
Presentation transcript:

© 2004 Mark H. Hansen 1 Why Strategy? Business Management 499 Strategic Management

© 2004 Mark H. Hansen 2 What is Strategy? 1984Profits: $242 Million Theme Park Operations:77 percent of profits Consumer Products: 22 percent of profits Filmed Entertainment: 1 percent of profits Walt Disney Company

© 2004 Mark H. Hansen 3 Walt Disney Company Hired Michael Eisner What is Strategy? 1. Increased admission prices at theme parks $186 m $787 m 2. Focused on movie studios (character development) $2.42 m $845 m 3. Diversified into television (ABC), hotels, retail stores, sport team, cruise line, publishing, consumer products, licensing, etc market cap. $2 billion market cap. $28 billion (Huey, 1995)

© 2004 Mark H. Hansen 4 Strategy is the active management of firm resources in the pursuit of economic rents. What is Strategy? Thus, our study here is concerned with achieving competitive advantage, not merely survival. Advantage implies that few, if any, other firms can or do hold the same position in the market. Therefore, our focus will not be on managing the average firm. Our focus will be on managing a firm to rise above the average.

© 2004 Mark H. Hansen 5 The Call from Industry The ability to handle intangible and/or subjective strategy-type concepts is what sets apart individuals in this business (investment banking). -- Alan Folkman, Marriott School NAC. Why Strategy? The functional disciplines are necessary just to get in the door, recruiters take excellent accounting, finance, and marketing skills as a given. Graduates are expected to be expert in a functional area and able to to appreciate the strategic implications of managerial action

© 2004 Mark H. Hansen 6 What is Strategy? Academic History Management was usually taught by retired executives who imparted the wisdom of experience and the rules of thumb well into the 1960’s Business disciplines evolved principally from either economics (finance) or psychology (OB & marketing) Strategic management is a young discipline (first Ph.D.’s were granted in the late 1980’s) The Business Policy and Strategy Division is now the largest division of the Academy of Management

© 2004 Mark H. Hansen 7 Why Strategy? Differences Between Accounting, Finance, Marketing, Operations, Organizational Behavior--and Strategy? Functional Discipline vs. Enterprise Management Answering Questions Right vs. Answering (Asking) the Right Questions An Objective Answer vs. Possibility of Multiple “Right Answers”” Responding Based on Rules vs. Responding Based on Principles & Concepts Managers must be able to deal with ambiguity

© 2004 Mark H. Hansen 8 What will this class do for you? Inform decisions in all areas of your life - Personal, family, church, & civic relationships Prepare you to make the jump from analyst, staff level, sales, etc. to manager Make you a better analyst, accountant, salesperson, etc.