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Strategos referred to General in Command of an Army By 450 BC Managerial Skill, existed By 350BC Skill of employing forces to overcome to create a system of global governance positions
Str for New Competitive Economy Advantage -New Models -Resource Re-engineering -- Technology -Alliances -2000 1990
Str in New Millennium -Business Ethics -Competing for standardswinner take all --Global standards -2006
What is strategy?
Managements
Stacking out a market position, Attracting and pleasing customers Competing successfully Conducting operations Achieving Targeted Objectives. Competitive moves & business approaches to attract & please
customers, Compete successfully, grow business, conduct operations, and achieve targeted objectives.
What is strategy?
Continued
Strategic Management
Definitions
Goal directed decisions and actions, in which capabilities and resources are matched with opportunities and in threats in the environment.
Strategy
& partly trial and error, until you hit upon something that works. - Costas Markides
Without a strategy the Organization is like a ship with out a
Core Concept
A company achieves a sustainable competitive advantage, when an attractive number of customers prefer its products or services over the competitors and when the basis for this performance is durable.
Corporate Strategy
Competitive Advantage
Business Strategy
E 4. Effective Implementation
.2:
Prior Version
Latest Version External Factors
Industry and competitive Technological Conditions Buyer preferences Societal Political Regulatory Economical Environmental
Proactive strategy
New Initiative +On going Strategy from prior periods Adaptive reactions to Changing circumstances
Companys Strategy
Reactive Strategy
Internal Factors
Resource strengths Competitive capabilities
Other Documents:
Nokias Strategy
Vision Life goes Mobile Mission - Connecting People Strategy 3 Activities
Expand mobile Voice Drive Consumer Multimedia Bring extended mobility to enterprises - 1.6 Billion subscribers - Mobility transformed people , life style change - Imaging, Games , Entertainment, media, enterprises( new) - Bridging gap, people Information they need
( examples: Apple Computer, CoCo-Cola. )
8. To strengthen competitive capabilities & take advantage of rivals weaknesses. To diversify Companys Revenues by new businesses
Develop expertise, resource strengths, and capabilities not easily imitated by rivals
FedEx Next-day delivery of small packages
Walt Disney Theme park management and family entertainment Toyota Sophisticated production system
Ritz-Carlton Personalized customer service
Situational Analysis
Strategy Formulation
Internal Analysis
Strategy Implementation
Strategy Evaluation
Perspectives
Functional
Corporate
Business
Start
External Env
Global and Domestic Remote Industry Operating
Company Mission, Social Res and Ethics Possible Desired ? Feedback Internal Analysis
Feedback
Policies
Characteristics of Strategic Management Decisions: Corporate Often carry greater risk, cost, and profit potential Greater need for flexibility Longer time horizons Choice of businesses, dividend policies, sources of long-term financing, and priorities for growth
Strategy Makers
Ideal strategic team includes decision makers from all three levels Top managers must give final approval Strategic decisions coincide with managers responsibilities
o Employees - Implement
- Evaluate
Who is on Board?
Chairman
President Other Chiefs - Chief Financial Officer - Chief Information Officer Inside Board Members Out side Board Members
Business Model . . .
Concerns whether revenues and costs, flowing from the strategy , demonstrate amply profitable and viable
Charts a companys direction, Develops competitively effective strategic moves and business approaches, and Pursues what needs to be done internally to produce good dayin/day-out strategy execution
Excellent execution of excellent strategy , is the best test of managerial excellence most reliable recipe for winning in the marketplace!
Internal Analysis Strategic Analysis & Choice Generic & Grand Strategies Functional Tactics Restructuring, Reengineering & Refocusing
Microsofts Vision:
- Empower people through great soft ware at any time, - Any where and on any device. OTIS Elevater s Mission: To provide any customer a means of moving up , down and side ways over short distances with high reliability than any
similar enterprises in the world.
Key Points
Stack out a market position 2. Conduct its operations 3. Attract and please customers 4. Achieve successfully Organizational Objectives 5. Building long term competitive position and financial Performance 6. Gain competitive advantage over rivals 7. Ensure above average Profitability 8. Keeping managers proactive and purposeful 9. Reactions to unanticipated developments and fresh market conditions 10. Business Model is closely related concept- Storyline
1.
Essence
- Crafting and executing strategy are core management functions. -Winning Or Losing ?- is directly attributable to Companys Strategy and Proficiency, with which the strategy is executed.
Books Referred
1. Crafting and Executing Strategy- 16th Edn
- A J Strickland III - John E Gamble - Arthur A Thomson J - Arun K Jain 2, Strategic Management Theory- 2009 Edn - Charles W. L. - Gareth R Jones 3.. Strategic Management - John A Pierce II - Richard B. - Robinson, JR 4. Contemporary Strategic Management 16th Edn -Robert M. Grant