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StrategicManagementWeekone1Copyright2005PrenticeHallStrategicManagementWeekoneLecturerInformationName:Jintao,ZhangH/P663355)QQ:791099091PPTDownloadAddress:FTP://IBF.BNUEP.COME-mail:zhang_jintao@2Copyright2005PrenticeHallLecturerInformationName:JinQuestionTimeAnyQuestion?TrytoAsk……3Copyright2005PrenticeHallQuestionTime3Copyright2005TextBookInformationFredR.David4Copyright2005PrenticeHallTextBookInformationFredR.DReadings5Copyright2005PrenticeHallReadings5Copyright2005PrentAssignment&ExamAttendance-10%GroupAssignment–40%FinalExam–50%(OpenBook)6Copyright2005PrenticeHallAssignment&Exam6Copyright20Week1ChapterOneWeek2ChapterOne&TwoWeek3ChapterTwo&CaseWeek4ChapterThreeWeek5ChapterThree&CaseWeek6PublicHolidayWeek7ChapterFourWeek8ChapterFour&CaseWeek9ChapterFiveWeek10ChapterFive&CaseWeek11Mid-semesterReview&CaseAnalysisWeek12ChapterSixWeek13ChapterSevenWeek14ChapterSeven&CaseWeek15ChapterEightWeek16ChapterNightWeek17OverallCaseAnalysisWeek18SubjectOverviewPartOnePartTwoPartTHreePartFourClass27Copyright2005PrenticeHallWeek1ChapterOneWeek2ChapterWeek1ChapterOneWeek2ChapterOne&TwoWeek3ChapterTwo&CaseWeek4ChapterThreeWeek5ChapterThree&CaseWeek6ChapterFourWeek7ChapterFour&CaseWeek8ChapterFiveWeek9ChapterFive&CaseWeek10ChapterSixWeek11Mid-semesterReview&CaseAnalysisWeek12ChapterSevenWeek13ChapterSeven&CaseWeek14ChapterEightWeek15ChapterNightWeek16PublicHolidayWeek17OverallCaseAnalysisWeek18SubjectOverviewPartOnePartTwoPartTHreePartFourClass18Copyright2005PrenticeHallWeek1ChapterOneWeek2ChapterChapter1
TheNatureofStrategicManagementStrategicManagement:
Concepts&Cases11thEditionFredDavid
9Copyright2005PrenticeHallChapter1
TheNatureofStrat
Art&scienceofformulating,implementing,andevaluating,cross-functionaldecisionsthatenableanorganizationtoachieveitsobjectives
StrategicManagement–Defined10Copyright2005PrenticeHall
Art&scienceofformulating,StrategicManagement
Inessence,thestrategicplanisacompany’sgameplan11Copyright2005PrenticeHallStrategicManagement
InessencStrategicManagementachievesafirm’ssuccessthroughintegrationManagementMISProduction/OperationsFinance/AccountingMarketingResearch&Development12Copyright2005PrenticeHallStrategicManagementachievesStagesofStrategicManagementFormulationImplementiongEvaluation13Copyright2005PrenticeHallStagesofStrategicManagement
Vision&MissionStrategyFormulationExternalOpportunities&ThreatsInternalStrengths&WeaknessesLong-TermObjectivesAlternativeStrategiesStrategySelection14Copyright2005PrenticeHall
Vision&MissionStrategyForm
IssuesinStrategyFormulationNewbusinessopportunitiesBusinessestoabandonAllocationofresourcesExpansionordiversificationInternationalmarketsMergersorjointventuresAvoidanceofhostiletakeover15Copyright2005PrenticeHall
IssuesinStrategyFormulatio
StrategyImplementationAnnualObjectivesPoliciesEmployeeMotivationResourceAllocation16Copyright2005PrenticeHall
StrategyImplementationAnnual
StrategyImplementationActionStageofStrategicManagement–MostdifficultstageMobilizationofemployees&managersInterpersonalskillscriticalConsensusongoalpursuit17Copyright2005PrenticeHall
StrategyImplementationAction
StrategyEvaluationInternalReviewExternalReviewPerformanceMetricsCorrectiveActions18Copyright2005PrenticeHall
StrategyEvaluationInternalRStrategyEvaluationFinalStageofStrategicManagementSubjecttofuturemodificationToday’ssuccessnoguaranteeoffuturesuccessNew&differentproblemsComplacencyleadstodemise19Copyright2005PrenticeHallStrategyEvaluationFinalStage
PeterDrucker:--Thinkthroughtheoverallmissionofabusiness.Askthekeyquestion:“WhatisourBusiness?”P(pán)rimeTaskof
StrategicManagement20Copyright2005PrenticeHall
PeterDrucker:--Thinkthrou
ThestrategicmanagementprocessattemptstoorganizequantitativeandqualitativeinformationunderconditionsofuncertaintyIntegratingIntuitionandAnalysis21Copyright2005PrenticeHall
Thestrategicmanagementproc
Intuitionisbasedon:PastexperiencesJudgmentFeelingsIntegratingIntuitionandAnalysis
Intuitionis
usefulfordecisionmakingin:ConditionsofgreatuncertaintyConditionswithlittleprecedent22Copyright2005PrenticeHall
Intuitionisbasedon:Integra
InvolveManagementatalllevelsIntuition&JudgmentInfluenceallAnalysesIntegratingIntuition&Analysis23Copyright2005PrenticeHall
InvolveManagementatalllev
AnalyticalThinkingIntegratingIntuition&AnalysisIntuitiveThinking24Copyright2005PrenticeHall
AnalyticalThinkingIntegratin
OrganizationsmustmonitoreventsOn-goingprocessInternalandexternaleventsTimelychangesAdaptingtoChange25Copyright2005PrenticeHall
Organizationsmustmonitorev
“Anythingthatafirmdoesespeciallywellcomparedtorivalfirms”StrategicManagementisGainingandMaintainingCompetitiveAdvantage26Copyright2005PrenticeHall
“Anythingthatafirmdoeses
1.Adaptingtochangeinexternaltrends,internalcapabilitiesandresourcesAchievingSustainedCompetitiveAdvantage
2.Effectivelyformulating,implementing&evaluatingstrategies27Copyright2005PrenticeHall
1.Adaptingtochangeinext
Rate&magnitudeofchangeincreasingdramaticallyAdaptingtoChangeE-commerceDemographicsTechnology28Copyright2005PrenticeHall
Rate&magnitudeofchangein
EffectiveAdaptation
AdaptingtoChangeRequireslong-termfocus29Copyright2005PrenticeHall
EffectiveAdaptation
AdaptingWhatkindofbusinessshouldwebecome?AreweintherightfieldsAretherenewcompetitors?Whatstrategiesshouldwepursue?Howareourcustomerschanging?
AdaptingtoChange–KeyStrategicManagementQuestions30Copyright2005PrenticeHallWhatkindofbusinessshouldwKeyTermsVariousJobTitles:
ChiefExecutiveOfficer(CEO)ChiefStrategyOfficer(CSO)PresidentOwnerBoardChairExecutiveDirector
Strategists–Firm’ssuccess/failure
31Copyright2005PrenticeHallKeyTermsVariousJobTitles:
VisionStatement–
Whatdowewanttobecome?MissionStatement– Whatisourbusiness?KeyTerms32Copyright2005PrenticeHallVisionStatement–KeyTerms32CLargelybeyondthecontrolofasingleorganizationKeyTerms
OpportunitiesandThreats(External)
33Copyright2005PrenticeHallLargelybeyondthecontrolofOpportunities&Threats(External)KeyTermsAnalysisofTrends:EconomicSocialCulturalDemographic/EnvironmentalPolitical,Legal,GovernmentalTechnologicalCompetitors34Copyright2005PrenticeHallOpportunities&Threats(ExterProcessofconductingresearchandgatheringandassimilatingexternalinformationKeyTerms
Opportunities&Threats
EnvironmentalScanning(IndustryAnalysis)
35Copyright2005PrenticeHallKeyTerms
Opportunities&ThrBasicTenetofStrategicManagementKeyTerms
Opportunities&ThreatsStrategyFormulation
TakeadvantageofExternalOpportunities
Avoid/minimizeimpactofExternalThreats36Copyright2005PrenticeHallBasicTenetofStrategicManagControllableactivitiesperformedespeciallywellorpoorlyKeyTerms
Strengths&Weaknesses(Internal)
37Copyright2005PrenticeHallControllableactivitiesperforStrengths&Weaknesses(Internal)KeyTermsTypicallylocatedinfunctionalareasofthefirmManagementMarketingFinance/AccountingProduction/OperationsResearch&DevelopmentComputerInformationSystems38Copyright2005PrenticeHallStrengths&Weaknesses(InternAssessingtheInternalEnvironmentKeyTerms
Strengths&WeaknessesInternalFactorsPerformanceMetricsFinancialRatiosIndustryAveragesSurveyData39Copyright2005PrenticeHallAssessingtheInternalEnvironMission-drivenpursuitofspecifiedresultsmorethanoneyearoutKeyTerms
Long-termObjectives
40Copyright2005PrenticeHallMission-drivenpursuitofspecLong-termObjectivesKeyTermsEssentialforensuringthefirm’ssuccessProvidedirectionAidinevaluationCreatesynergyFocuscoordinationBasisforplanning,motivating,and
controlling41Copyright2005PrenticeHallLong-termObjectivesKeyTermsEMeansbywhichlong-termobjectivesareachievedKeyTerms
Strategies
42Copyright2005PrenticeHallMeansbywhichlong-termobjecStrategiesKeyTermsSomeExamplesGeographicexpansionDiversificationAcquisitionMarketpenetrationRetrenchmentLiquidationJointventure43Copyright2005PrenticeHallStrategiesKeyTermsSomeExamplShort-termmilestonesthatfirmsmustachievetoattainlong-termobjectivesKeyTerms
AnnualObjectives
44Copyright2005PrenticeHallShort-termmilestonesthatfirMeansbywhichannualobjectiveswillbeachievedKeyTerms
Policies
45Copyright2005PrenticeHallMeansbywhichannualobjectivExternalAuditChapter3InternalAuditChapter4Long-TermObjectivesChapter5Generate,Evaluate,SelectStrategiesChapter6ImplementStrategies:MgmtIssuesChapter7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter8Measure&EvaluatePerformanceChapter9Vision&MissionChapter2Comprehensivestrategicmanagementmodel46Copyright2005PrenticeHallExternalInternalLong-TermGenerEndofWeekOneHomeWork:ReadTextbookPage34–48Preview:Chapter1&Chapter247Copyright2005PrenticeHallEndofWeekOneHomeWork:47CopExternalAuditChapter3InternalAuditChapter4Long-TermObjectivesChapter5Generate,Evaluate,SelectStrategiesChapter6ImplementStrategies:MgmtIssuesChapter7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter8Measure&EvaluatePerformanceChapter9Vision&MissionChapter2Comprehensivestrategicmanagementmodel48Copyright2005PrenticeHallExternalInternalLong-TermGenerDynamic&ContinuousMoreformalinlargerorganizationsStrategicManagementModel
StrategicManagementProcess
49Copyright2005PrenticeHallDynamic&ContinuousStrategic1.IdentifyExisting--StrategicManagementModelVisionMissionObjectivesStrategies50Copyright2005PrenticeHall1.IdentifyExisting--StrateAuditexternalenvironmentAuditinternalenvironmentEstablishlong-termobjectivesGenerate,evaluate&selectstrategiesImplementselectedstrategiesMeasure&evaluateperformanceStrategicManagementModel51Copyright2005PrenticeHallAuditexternalenvironmentStraBenefitsofStrategicManagement
Proactiveinshapingfirm’sfutureInitiateandinfluencefirm’sactivitiesFormulatebetterstrategiesSystematic,logical,rationalUnderstandingCommitmentEmpowerment52Copyright2005PrenticeHallBenefitsofStrategicManagemeBenefitsofStrategicManagement
FinancialBenefits
ImprovementinsalesImprovementinprofitabilityProductivityimprovement53Copyright2005PrenticeHallBenefitsofStrategicManagemeBenefitsofStrategicManagement
Non-FinancialBenefits
ImprovedunderstandingofcompetitorsstrategiesEnhancedawarenessofthreatsReducedresistancetochangeEnhancedproblem-preventioncapabilities54Copyright2005PrenticeHallBenefitsofStrategicManagemeWhySomeFirmsDoNoStrategicPlanningPoorrewardstructuresFire-fightingWasteoftimeTooexpensiveLazinessContentwithsuccess55Copyright2005PrenticeHallWhySomeFirmsDoNoStrategicWhySomeFirmsDoNoStrategicPlanningFearoffailureOverconfidencePriorbadexperienceSelf-interestFearoftheunknownSuspicion56Copyright2005PrenticeHallWhySomeFirmsDoNoStrategicPrinciplesofconductwithinorganizationsthatguidedecisionmakingandbehaviorBusinessEthics&StrategicManagement
BusinessEthicsdefined–
57Copyright2005PrenticeHallPrinciplesofconductwithinoPrerequisiteforgoodstrategicmanagementBusinessEthics&StrategicManagement
Goodbusinessethics–
58Copyright2005PrenticeHallPrerequisiteforgoodstrategiProvidesbasisonwhichpoliciescanbedevisedtoguidedailybehavioranddecisionsintheworkplaceBusinessEthics&StrategicManagement
Codeofbusinessethics–
59Copyright2005PrenticeHallProvidesbasisonwhichpoliciMisleadingadvertisingMisleadinglabelingHarmtotheenvironmentInsidertradingDumpingflawedproductsonforeignmarketsPoorproductorservicesafetyPaddingexpenseaccountsBusinessEthics&StrategicManagement
Businesspracticesalwaysconsideredunethical–
60Copyright2005PrenticeHallMisleadingadvertisingBusinessISO9000focusesonqualitycontrol>1.5millioncompaniesincorporateISONaturalEnvironmentPerspective
ISOusedtogainstrategicadvantage61Copyright2005PrenticeHallISO9000focusesonqualitycoVoluntarystandardsISO14001standardforEnvironmentalManagementSystemFirmsminimizeharmfuleffectsonenvironmentNaturalEnvironmentPerspective
ISO14000standards62Copyright2005PrenticeHallVoluntarystandardsNaturalEnParentcompanyHostcountryTheNatureofGlobalCompetition
International/multinationalcorporations63Copyright2005PrenticeHallParentcompanyTheNatureofGlCulturaldifferencesNormsValuesWorkethicTheNatureofGlobalCompetition
Strategyimplementationmaybedifficult64Copyright2005PrenticeHallCulturaldifferencesTheNatureAdvantagesofInternationalOperationsAbsorbexcesscapacityReduceunitcostsSpreadriskoverwidermarketsLow-costproductionfacilities65Copyright2005PrenticeHallAdvantagesofInternationalOpAdvantagesofInternationalOperations(cont’d)LessintensecompetitionLowertaxesEconomiesofscale66Copyright2005PrenticeHallAdvantagesofInternationalOpDisadvantagesofInternationalOperationsDifficultcommunicationsUnderestimateforeigncompetitionCulturalbarrierstoeffectivemanagementComplicationsarisingfromcurrencydifferences67Copyright2005PrenticeHallDisadvantagesofInternationalStrategicManagementWeekone68Copyright2005PrenticeHallStrategicManagementWeekoneLecturerInformationName:Jintao,ZhangH/P663355)QQ:791099091PPTDownloadAddress:FTP://IBF.BNUEP.COME-mail:zhang_jintao@69Copyright2005PrenticeHallLecturerInformationName:JinQuestionTimeAnyQuestion?TrytoAsk……70Copyright2005PrenticeHallQuestionTime3Copyright2005TextBookInformationFredR.David71Copyright2005PrenticeHallTextBookInformationFredR.DReadings72Copyright2005PrenticeHallReadings5Copyright2005PrentAssignment&ExamAttendance-10%GroupAssignment–40%FinalExam–50%(OpenBook)73Copyright2005PrenticeHallAssignment&Exam6Copyright20Week1ChapterOneWeek2ChapterOne&TwoWeek3ChapterTwo&CaseWeek4ChapterThreeWeek5ChapterThree&CaseWeek6PublicHolidayWeek7ChapterFourWeek8ChapterFour&CaseWeek9ChapterFiveWeek10ChapterFive&CaseWeek11Mid-semesterReview&CaseAnalysisWeek12ChapterSixWeek13ChapterSevenWeek14ChapterSeven&CaseWeek15ChapterEightWeek16ChapterNightWeek17OverallCaseAnalysisWeek18SubjectOverviewPartOnePartTwoPartTHreePartFourClass274Copyright2005PrenticeHallWeek1ChapterOneWeek2ChapterWeek1ChapterOneWeek2ChapterOne&TwoWeek3ChapterTwo&CaseWeek4ChapterThreeWeek5ChapterThree&CaseWeek6ChapterFourWeek7ChapterFour&CaseWeek8ChapterFiveWeek9ChapterFive&CaseWeek10ChapterSixWeek11Mid-semesterReview&CaseAnalysisWeek12ChapterSevenWeek13ChapterSeven&CaseWeek14ChapterEightWeek15ChapterNightWeek16PublicHolidayWeek17OverallCaseAnalysisWeek18SubjectOverviewPartOnePartTwoPartTHreePartFourClass175Copyright2005PrenticeHallWeek1ChapterOneWeek2ChapterChapter1
TheNatureofStrategicManagementStrategicManagement:
Concepts&Cases11thEditionFredDavid
76Copyright2005PrenticeHallChapter1
TheNatureofStrat
Art&scienceofformulating,implementing,andevaluating,cross-functionaldecisionsthatenableanorganizationtoachieveitsobjectives
StrategicManagement–Defined77Copyright2005PrenticeHall
Art&scienceofformulating,StrategicManagement
Inessence,thestrategicplanisacompany’sgameplan78Copyright2005PrenticeHallStrategicManagement
InessencStrategicManagementachievesafirm’ssuccessthroughintegrationManagementMISProduction/OperationsFinance/AccountingMarketingResearch&Development79Copyright2005PrenticeHallStrategicManagementachievesStagesofStrategicManagementFormulationImplementiongEvaluation80Copyright2005PrenticeHallStagesofStrategicManagement
Vision&MissionStrategyFormulationExternalOpportunities&ThreatsInternalStrengths&WeaknessesLong-TermObjectivesAlternativeStrategiesStrategySelection81Copyright2005PrenticeHall
Vision&MissionStrategyForm
IssuesinStrategyFormulationNewbusinessopportunitiesBusinessestoabandonAllocationofresourcesExpansionordiversificationInternationalmarketsMergersorjointventuresAvoidanceofhostiletakeover82Copyright2005PrenticeHall
IssuesinStrategyFormulatio
StrategyImplementationAnnualObjectivesPoliciesEmployeeMotivationResourceAllocation83Copyright2005PrenticeHall
StrategyImplementationAnnual
StrategyImplementationActionStageofStrategicManagement–MostdifficultstageMobilizationofemployees&managersInterpersonalskillscriticalConsensusongoalpursuit84Copyright2005PrenticeHall
StrategyImplementationAction
StrategyEvaluationInternalReviewExternalReviewPerformanceMetricsCorrectiveActions85Copyright2005PrenticeHall
StrategyEvaluationInternalRStrategyEvaluationFinalStageofStrategicManagementSubjecttofuturemodificationToday’ssuccessnoguaranteeoffuturesuccessNew&differentproblemsComplacencyleadstodemise86Copyright2005PrenticeHallStrategyEvaluationFinalStage
PeterDrucker:--Thinkthroughtheoverallmissionofabusiness.Askthekeyquestion:“WhatisourBusiness?”P(pán)rimeTaskof
StrategicManagement87Copyright2005PrenticeHall
PeterDrucker:--Thinkthrou
ThestrategicmanagementprocessattemptstoorganizequantitativeandqualitativeinformationunderconditionsofuncertaintyIntegratingIntuitionandAnalysis88Copyright2005PrenticeHall
Thestrategicmanagementproc
Intuitionisbasedon:PastexperiencesJudgmentFeelingsIntegratingIntuitionandAnalysis
Intuitionis
usefulfordecisionmakingin:ConditionsofgreatuncertaintyConditionswithlittleprecedent89Copyright2005PrenticeHall
Intuitionisbasedon:Integra
InvolveManagementatalllevelsIntuition&JudgmentInfluenceallAnalysesIntegratingIntuition&Analysis90Copyright2005PrenticeHall
InvolveManagementatalllev
AnalyticalThinkingIntegratingIntuition&AnalysisIntuitiveThinking91Copyright2005PrenticeHall
AnalyticalThinkingIntegratin
OrganizationsmustmonitoreventsOn-goingprocessInternalandexternaleventsTimelychangesAdaptingtoChange92Copyright2005PrenticeHall
Organizationsmustmonitorev
“Anythingthatafirmdoesespeciallywellcomparedtorivalfirms”StrategicManagementisGainingandMaintainingCompetitiveAdvantage93Copyright2005PrenticeHall
“Anythingthatafirmdoeses
1.Adaptingtochangeinexternaltrends,internalcapabilitiesandresourcesAchievingSustainedCompetitiveAdvantage
2.Effectivelyformulating,implementing&evaluatingstrategies94Copyright2005PrenticeHall
1.Adaptingtochangeinext
Rate&magnitudeofchangeincreasingdramaticallyAdaptingtoChangeE-commerceDemographicsTechnology95Copyright2005PrenticeHall
Rate&magnitudeofchangein
EffectiveAdaptation
AdaptingtoChangeRequireslong-termfocus96Copyright2005PrenticeHall
EffectiveAdaptation
AdaptingWhatkindofbusinessshouldwebecome?AreweintherightfieldsAretherenewcompetitors?Whatstrategiesshouldwepursue?Howareourcustomerschanging?
AdaptingtoChange–KeyStrategicManagementQuestions97Copyright2005PrenticeHallWhatkindofbusinessshouldwKeyTermsVariousJobTitles:
ChiefExecutiveOfficer(CEO)ChiefStrategyOfficer(CSO)PresidentOwnerBoardChairExecutiveDirector
Strategists–Firm’ssuccess/failure
98Copyright2005PrenticeHallKeyTermsVariousJobTitles:
VisionStatement–
Whatdowewanttobecome?MissionStatement– Whatisourbusiness?KeyTerms99Copyright2005PrenticeHallVisionStatement–KeyTerms32CLargelybeyondthecontrolofasingleorganizationKeyTerms
OpportunitiesandThreats(External)
100Copyright2005PrenticeHallLargelybeyondthecontrolofOpportunities&Threats(External)KeyTermsAnalysisofTrends:EconomicSocialCulturalDemographic/EnvironmentalPolitical,Legal,GovernmentalTechnologicalCompetitors101Copyright2005PrenticeHallOpportunities&Threats(ExterProcessofconductingresearchandgatheringandassimilatingexternalinformationKeyTerms
Opportunities&Threats
EnvironmentalScanning(IndustryAnalysis)
102Copyright2005PrenticeHallKeyTerms
Opportunities&ThrBasicTenetofStrategicManagementKeyTerms
Opportunities&ThreatsStrategyFormulation
TakeadvantageofExternalOpportunities
Avoid/minimizeimpactofExternalThreats103Copyright2005PrenticeHallBasicTenetofStrategicManagControllableactivitiesperformedespeciallywellorpoorlyKeyTerms
Strengths&Weaknesses(Internal)
104Copyright2005PrenticeHallControllableactivitiesperforStrengths&Weaknesses(Internal)KeyTermsTypicallylocatedinfunctionalareasofthefirmManagementMarketingFinance/AccountingProduction/OperationsResearch&DevelopmentComputerInformationSystems105Copyright2005PrenticeHallStrengths&Weaknesses(InternAssessingtheInternalEnvironmentKeyTerms
Strengths&WeaknessesInternalFactorsPerformanceMetricsFinancialRatiosIndustryAveragesSurveyData106Copyright2005PrenticeHallAssessingtheInternalEnvironMission-drivenpursuitofspecifiedresultsmorethanoneyearoutKeyTerms
Long-termObjectives
107Copyright2005PrenticeHallMission-drivenpursuitofspecLong-termObjectivesKeyTermsEssentialforensuringthefirm’ssuccessProvidedirectionAidinevaluationCreatesynergyFocuscoordinationBasisforplanning,motivating,and
controlling108Copyright2005PrenticeHallLong-termObjectivesKeyTermsEMeansbywhichlong-termobjectivesareachievedKeyTerms
Strategies
109Copyright2005PrenticeHallMeansbywhichlong-termobjecStrategiesKeyTermsSomeExamplesGeographicexpansionDiversificationAcquisitionMarketpenetrationRetrenchmentLiquidationJointventure110Copyright2005PrenticeHallStrategiesKeyTermsSomeExamplShort-termmilestonesthatfirmsmustachievetoattainlong-termobjectivesKeyTerms
AnnualObjectives
111Copyright2005PrenticeHallShort-termmilestonesthatfirMeansbywhichannualobjectiveswillbeachievedKeyTerms
Policies
112Copyright2005PrenticeHallMeansbywhichannualobjectivExternalAuditChapter3InternalAuditChapter4Long-TermObjectivesChapter5Generate,Evaluate,SelectStrategiesChapter6ImplementStrategies:MgmtIssuesChapter7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter8Measure&EvaluatePerformanceChapter9Vision&MissionChapter2Comprehensivestrategicmanagementmodel113Copyright2005PrenticeHallExternalInternalLong-TermGenerEndofWeekOneHomeWork:ReadTextbookPage34–48Preview:Chapter1&Chapter2114Copyright2005PrenticeHallEndofWeekOneHomeWork:47CopExternalAuditChapter3InternalAuditChapter4Long-TermObjectivesChapter5Generate,Evaluate,SelectStrategiesChapter6ImplementStrategies:MgmtIssuesChapter7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter8Measure&EvaluatePerformanceChapter9Vision&MissionChapter2Comprehensivestrategicmanagementmodel115Copyright2005PrenticeHallExternalInternalLong-TermGenerDynamic&ContinuousMoreformalinlargerorganizationsStrategicManagementModel
StrategicManagementProcess
116Copyright2005PrenticeHallDynamic&ContinuousStrategic1.IdentifyExisting--StrategicManagementModelVisionMissionObjectivesStrategies117Copyright2005PrenticeHall1.IdentifyExisting--StrateAuditexternalenvironmentAuditinternalenvironmentEstablishlong-termobjectivesGenerate,evaluate&selectstrategiesImplementselectedstrategiesMeasure&evaluateperformanceStrategicManagementModel118Copyright2005PrenticeHallAuditexternalenvironmentStraBenefitsofStrategicManagement
Proactiveinshapingfirm’sfutureInitiateandinfluencefirm’sactivitiesFormulatebetterstrategiesSystematic,logical,rationalUnderstandingCommitmentEmpowerment119Copyright2005PrenticeHallBenefitsofStrategicManagemeBenefitsofStrategicManagement
FinancialBenefits
ImprovementinsalesImprovementinprofitabilityProductivityimprovement120Copyright2005PrenticeHallBenefitsofStrategicManagemeBenefitsofStrategicManagement
Non-FinancialBenefits
ImprovedunderstandingofcompetitorsstrategiesEnhancedawarenessofthreatsReducedresistancetochange
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