Introdcution spring-2014
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This document provides an overview of business strategy concepts including: - Strategy involves understanding what, why, when, how, where, and who related to a business. - There are three levels of management - corporate, business unit, and functional - for developing strategy. - The strategic management process involves three stages - formulation, implementation, and evaluation. - A comprehensive model shows the inputs, outputs, and feedback loops in the strategic management process. - External and internal audits are key inputs to understand the environment and a business's resources. - Strategies must adapt to the interplay between controllable internal factors and uncontrollable external factors.
Introdcution spring-2014
- 2. Strategy: I keep six honest serving men (They taught me all I knew); Their names are What and Why and When; And How and Where and Who. — Rudyard Kipling
- 5. STRATEGY ???????? WHAT IS IT ACTUALLY !!!
- 6. STRATEGY • S = Spot • T = Trend • R = Review • A = Apply • T = Tactics • E = Evaluate • G = Greater • Y = Yields.
- 7. CORPORATE LEVEL BUSINESS UNIT LEVEL FUNCTIONAL LEVEL Levels of Management
- 8. STAGES OF STRATEGIC MANAGEMENT STRATEGY FORMULATION STRATEGY IMPLEMENTATION STRATEGY EVALUATION
- 9. Perform External Audit Perform Internal Audit Establish Long-Term Objectives Generate, Evaluate, Select Strategies Implement Strategies: Mgmt Issues Implement Strategies: Marketing, Fin/Acct, R&D, CIS Measure & Evaluate Performance Vision & Mission Comprehensive strategic management model Strategy Formulation Strategy Implementation Strategy Evaluation
- 11. External Audit • DEMOGRAPHIC • ECONOMIC • ECOLOGICAL • POLITICAL • LEGAL • INFORMATIONAL • SOCIAL • TECHNOLOGICAL Internal Audit • Resources • Deficiencies • Value chains • Core Competencies • Marketing • Production • Finance • MIS • R&D
- 12. ADJUST & ADOPT The Controllable Variable to the Un- Controllable Variables. Or It is the adoption with the external environment and Integration of the internal environment and
- 15. Levels of Management. FAUJI FOUNDATION FAUJI FERTILIZER FAUJI CEMENT FAUJI CEREALS Factory Manager Manager Marketing Manager HR Manager Operations
- 17. The Strategy-Formulation Analytical Framework STAGE 1: THE INPUT STAGE EFE MATRIX CPM IFE STAGE 2: THE MATCHING STAGE SWOT MATRIX SPACE MATRIX BCG MATRIX Internal-External (IE) Matrix Grand Strategy Matrix STAGE 3: THE DECISION STAGE Quantitative Strategic Planning Matrix (QSPM)
- 18. Remember An ITERATIVE Process Which adjusts and adapts The Controllable variables to The Uncontrollable Variables And is a Never Ending Process