StrategicManagementWeekoneCh1-1StrategicManagementLecturerInformationName:Jintao,ZhangH/P663355):791099091PPTDownloadAddress:FTPIBF.BNUEP:zhang_jintao@hotmailCh1-2StrategicManagementQuestionTimeAnyQuestion?TrytoAsk……Ch1-3StrategicManagementTextBookInformationFredR.DavidCh1-4StrategicManagementReadingsCh1-5StrategicManagementAssignment&ExamAttendance-10%GroupAssignment–40%FinalExam–50%(OpenBook)Ch1-6StrategicManagementWeek1ChapterOneWeek2ChapterOne&TwoWeek3ChapterTwo&CaseWeek4ChapterThreeWeek5ChapterThree&CaseWeek6PublicHolidayWeek7ChapterFourWeek8ChapterFour&CaseWeek9ChapterFiveWeek10ChapterFive&CaseWeek11Mid-semesterReview&CaseAnalysisWeek12ChapterSixWeek13ChapterSevenWeek14ChapterSeven&CaseWeek15ChapterEightWeek16ChapterNightWeek17OverallCaseAnalysisWeek18SubjectOverviewPartOnePartTwoPartTHreePartFourClass2Ch1-7StrategicManagementWeek1ChapterOneWeek2ChapterOne&TwoWeek3ChapterTwo&CaseWeek4ChapterThreeWeek5ChapterThree&CaseWeek6ChapterFourWeek7ChapterFour&CaseWeek8ChapterFiveWeek9ChapterFive&CaseWeek10ChapterSixWeek11Mid-semesterReview&CaseAnalysisWeek12ChapterSevenWeek13ChapterSeven&CaseWeek14ChapterEightWeek15ChapterNightWeek16PublicHolidayWeek17OverallCaseAnalysisWeek18SubjectOverviewPartOnePartTwoPartTHreePartFourClass1Ch1-8StrategicManagementChapter1

TheNatureofStrategicManagementStrategicManagement:

Concepts&Cases11thEditionFredDavid

Ch1-9StrategicManagement

Art&scienceofformulating,implementing,andevaluating,cross-functionaldecisionsthatenableanorganizationtoachieveitsobjectives

StrategicManagement–DefinedCh1-10StrategicManagementStrategicManagement

Inessence,thestrategicplanisacompany’sgameplanCh1-11StrategicManagementStrategicManagementachievesafirm’ssuccessthroughintegrationManagementMISProduction/OperationsFinance/AccountingMarketingResearch&DevelopmentCh1-12StrategicManagementStagesofStrategicManagementFormulationImplementiongEvaluationCh1-13StrategicManagement

Vision&MissionStrategyFormulationExternalOpportunities&ThreatsInternalStrengths&WeaknessesLong-TermObjectivesAlternativeStrategiesStrategySelectionCh1-14StrategicManagement

IssuesinStrategyFormulationNewbusinessopportunitiesBusinessestoabandonAllocationofresourcesExpansionordiversificationInternationalmarketsMergersorjointventuresAvoidanceofhostiletakeoverCh1-15StrategicManagement

StrategyImplementationAnnualObjectivesPoliciesEmployeeMotivationResourceAllocationCh1-16StrategicManagement

StrategyImplementationActionStageofStrategicManagement–MostdifficultstageMobilizationofemployees&managersInterpersonalskillscriticalConsensusongoalpursuitCh1-17StrategicManagement

StrategyEvaluationInternalReviewExternalReviewPerformanceMetricsCorrectiveActionsCh1-18StrategicManagementStrategyEvaluationFinalStageofStrategicManagementSubjecttofuturemodificationToday’ssuccessnoguaranteeoffuturesuccessNew&differentproblemsComplacencyleadstodemiseCh1-19StrategicManagement

PeterDrucker:--Thinkthroughtheoverallmissionofabusiness.Askthekeyquestion:“WhatisourBusiness?〞PrimeTaskof

StrategicManagementCh1-20StrategicManagement

ThestrategicmanagementprocessattemptstoorganizequantitativeandqualitativeinformationunderconditionsofuncertaintyIntegratingIntuitionandAnalysisCh1-21StrategicManagement

Intuitionisbasedon:PastexperiencesJudgmentFeelingsIntegratingIntuitionandAnalysis

Intuitionisusefulfordecisionmakingin:ConditionsofgreatuncertaintyConditionswithlittleprecedentCh1-22StrategicManagement

InvolveManagementatalllevelsIntuition&JudgmentInfluenceallAnalysesIntegratingIntuition&AnalysisCh1-23StrategicManagement

AnalyticalThinkingIntegratingIntuition&AnalysisIntuitiveThinkingCh1-24StrategicManagement

OrganizationsmustmonitoreventsOn-goingprocessInternalandexternaleventsTimelychangesAdaptingtoChangeCh1-25StrategicManagement

“Anythingthatafirmdoesespeciallywellcomparedtorivalfirms〞StrategicManagementisGainingandMaintainingCompetitiveAdvantageCh1-26StrategicManagement

1.Adaptingtochangeinexternaltrends,internalcapabilitiesandresourcesAchievingSustainedCompetitiveAdvantage

2.Effectivelyformulating,implementing&evaluatingstrategiesCh1-27StrategicManagement

Rate&magnitudeofchangeincreasingdramaticallyAdaptingtoChangeE-commerceDemographicsTechnologyCh1-28StrategicManagement

EffectiveAdaptation

AdaptingtoChangeRequireslong-termfocusCh1-29StrategicManagementWhatkindofbusinessshouldwebecome?AreweintherightfieldsAretherenewcompetitors?Whatstrategiesshouldwepursue?Howareourcustomerschanging?

AdaptingtoChange–KeyStrategicManagementQuestionsCh1-30StrategicManagementKeyTermsVariousJobTitles:

ChiefExecutiveOfficer(CEO)ChiefStrategyOfficer(CSO)PresidentOwnerBoardChairExecutiveDirector

Strategists–Firm’ssuccess/failure

Ch1-31StrategicManagementVisionStatement– Whatdowewanttobecome?MissionStatement– Whatisourbusiness?KeyTermsCh1-32StrategicManagementLargelybeyondthecontrolofasingleorganizationKeyTerms

OpportunitiesandThreats(External)

Ch1-33StrategicManagementOpportunities&Threats(External)KeyTermsAnalysisofTrends:EconomicSocialCulturalDemographic/EnvironmentalPolitical,Legal,GovernmentalTechnologicalCompetitorsCh1-34StrategicManagementProcessofconductingresearchandgatheringandassimilatingexternalinformationKeyTerms

Opportunities&Threats

EnvironmentalScanning(IndustryAnalysis)

Ch1-35StrategicManagementBasicTenetofStrategicManagementKeyTerms

Opportunities&ThreatsStrategyFormulation

TakeadvantageofExternalOpportunities

Avoid/minimizeimpactofExternalThreatsCh1-36StrategicManagementControllableactivitiesperformedespeciallywellorpoorlyKeyTerms

Strengths&Weaknesses(Internal)

Ch1-37StrategicManagementStrengths&Weaknesses(Internal)KeyTermsTypicallylocatedinfunctionalareasofthefirmManagementMarketingFinance/AccountingProduction/OperationsResearch&DevelopmentComputerInformationSystemsCh1-38StrategicManagementAssessingtheInternalEnvironmentKeyTerms

Strengths&WeaknessesInternalFactorsPerformanceMetricsFinancialRatiosIndustryAveragesSurveyDataCh1-39StrategicManagementMission-drivenpursuitofspecifiedresultsmorethanoneyearoutKeyTerms

Long-termObjectives

Ch1-40StrategicManagementLong-termObjectivesKeyTermsEssentialforensuringthefirm’ssuccessProvidedirectionAidinevaluationCreatesynergyFocuscoordinationBasisforplanning,motivating,and

controllingCh1-41StrategicManagementMeansbywhichlong-termobjectivesareachievedKeyTerms

Strategies

Ch1-42StrategicManagementStrategiesKeyTermsSomeExamplesGeographicexpansionDiversificationAcquisitionMarketpenetrationRetrenchmentLiquidationJointventureCh1-43StrategicManagementShort-termmilestonesthatfirmsmustachievetoattainlong-termobjectivesKeyTerms

AnnualObjectives

Ch1-44StrategicManagementMeansbywhichannualobjectiveswillbeachievedKeyTerms

Policies

Ch1-45StrategicManagementExternalAuditChapter3InternalAuditChapter4Long-TermObjectivesChapter5Generate,Evaluate,SelectStrategiesChapter6ImplementStrategies:MgmtIssuesChapter7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter8Measure&EvaluatePerformanceChapter9Vision&MissionChapter2ComprehensivestrategicmanagementmodelCh1-46StrategicManagementEndofWeekOneHomeWork:ReadTextbookPage34–48Preview:Chapter1&Chapter2Ch1-47StrategicManagementExternalAuditChapter3InternalAuditChapter4Long-TermObjectivesChapter5Generate,Evaluate,SelectStrategiesChapter6ImplementStrategies:MgmtIssuesChapter7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter8Measure&EvaluatePerformanceChapter9Vision&MissionChapter2ComprehensivestrategicmanagementmodelCh1-48StrategicManagementDynamic&ContinuousMoreformalinlargerorganizationsStrategicManagementModel

StrategicManagementProcess

Ch1-49StrategicManagement1.IdentifyExisting--StrategicManagementModelVisionMissionObjectivesStrategiesCh1-50StrategicManagementAuditexternalenvironmentAuditinternalenvironmentEstablishlong-termobjectivesGenerate,evaluate&selectstrategiesImplementselectedstrategiesMeasure&evaluateperformanceStrategicManagementModelCh1-51StrategicManagementBenefitsofStrategicManagementProactiveinshapingfirm’sfutureInitiateandinfluencefirm’sactivitiesFormulatebetterstrategiesSystematic,logical,rationalUnderstandingCommitmentEmpowermentCh1-52StrategicManagementBenefitsofStrategicManagementFinancialBenefitsImprovementinsalesImprovementinprofitabilityProductivityimprovementCh1-53StrategicManagementBenefitsofStrategicManagementNon-FinancialBenefitsImprovedunderstandingofcompetitorsstrategiesEnhancedawarenessofthreatsReducedresistancetochangeEnhancedproblem-preventioncapabilitiesCh1-54StrategicManagementWhySomeFirmsDoNoStrategicPlanningPoorrewardstructuresFire-fightingWasteoftimeTooexpensiveLazinessContentwithsuccessCh1-55StrategicManagementWhySomeFirmsDoNoStrategicPlanningFearoffailureOverconfidencePriorbadexperienceSelf-interestFearoftheunknownSuspicionCh1-56StrategicManagementPrinciplesofconductwithinorganizationsthatguidedecisionmakingandbehaviorBusinessEthics&StrategicManagement

BusinessEthicsdefined–

Ch1-57StrategicManagementPrerequisiteforgoodstrategicmanagementBusinessEthics&StrategicManagement

Goodbusinessethics–

Ch1-58StrategicManagementProvidesbasisonwhichpoliciescanbedevisedtoguidedailybehavioranddecisionsintheworkplaceBusinessEthics&StrategicManagement

Codeofbusinessethics–

Ch1-59StrategicManagementMisleadingadvertisingMisleadinglabelingHarmtotheenvironmentInsidertradingDumpingflawedproductsonforeignmarketsPoorproductorservicesafetyPaddingexpenseaccountsBusinessEthics&StrategicManagement

Businesspracticesalwaysconsideredunethical–

Ch1