Академический Документы
Профессиональный Документы
Культура Документы
Strategic analysis
Goals and objectives
Internal environment
External environment
Strategy formulation
Business level
Strategy implementation
Structure & control Entrepreneurship
Corporate level
International strategy
Leadership
Chapter 1
Strategic Management and Strategic Competitiveness
Overview
What is STRATEGY?
Strategy is an integrated and coordinated set of commitments and actions designed to exploit core competences and gain a competitive advantage
Strategic competitiveness achieved when a firm successfully formulates and implements a value-creating strategy Sustainable competitive advantage occurs when a firm implements a value-creating strategy and other companies are unable to duplicate it or find it too costly to imitate Above-average returns returns in excess of what an investor expects to earn from other investments with a similar amount of risk
Strategic Intent
Commitment to significant long-term goals Internally focused Seek to ensure that all of the organizations employees are focused on achieving the firms goals Example Xerox: To be the leader in the global document market
Strategic Mission
An application of strategic intent A statement of a firms unique purpose and the scope of its operations in product and market terms Externally focused Establish a firm individuality, inspiring and relevant to all stakeholders
Example
AOL Time Warner: Connecting, informing and entertaining people in innovative ways that will enrich their lives
Contemporary Hypercompetition
Stakeholders
Stakeholders
Types of stakeholders
Capital market stakeholders shareholders, banks, other sources of capital Product market stakeholders customers, suppliers, host communities, unions Organizational stakeholders employees, managers
Stakeholder Involvement
Stakeholders interests may conflict When are all stakeholders satisfied? How to divide returns to keep stakeholders involved? How to increase returns so everyone has more to share? Verstehen