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Strategy. Planning - strategic - emergent - contingency plans Objectives: LT, ST. Mission statement Environmental analysis (SWOT) Competitive analysis (Porter’s 5 forces) Portfolio analysis. Identifying Mission Statement Components:

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  • Planning

    - strategic

    - emergent

    - contingency plans

    Objectives: LT, ST


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  • Mission statement

  • Environmental analysis (SWOT)

  • Competitive analysis (Porter’s 5 forces)

  • Portfolio analysis


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Identifying Mission Statement Components:

A compilation of Excerpts from Actual Corporate Mission Statements


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Identifying Mission Statement Components:

A compilation of Excerpts from Actual Corporate Mission Statements (cont’d)


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Identifying Mission Statement Components:

A compilation of Excerpts from Actual Corporate Mission Statements (cont’d)


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  • This exercise should help you think about 1) your long-term personal goals, and 2) companies you might want to work for

  • 1. What do you want inscribed on your gravestone?

  • What would be your primary goal if you were told you had 18 months to live?

  • If you had a child, what is the most important lesson that you would like him or her to know?

  • Book says, “…every organization has a mission statement that defines its purpose and answers the question ‘what business are we in?’


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  • Use the answers to the above questions to write a personal mission statement/paragraph that should specify your life’s goal!

  • Consider:

    Values: what’s important to you, e.g. health, friends

    Principles: guidelines to follow, e.g. fairness, quality, service

    Strengths: your qualities, e.g. adaptable, confident

    Blockers: what’s stopping you? e.g. shyness, laziness

    Next write a paragraph describing the mission of a company you would want to work for.


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SWOT analysis mission statement/paragraph that should specify your life’s goal!

  • Environmental Scan – Both internal and external factors need to be considered:

    1. Internal factors – characteristics in the firm (management, mission, resources, systems process, and structure) that can be considered strengths or strong points and weaknesses or weak points.

    2. External factors - characteristics in the environment that are “outside” the firm (customers, competitors, suppliers, labor force, shareholders, society, technology, the economy, and governments) that represent opportunities to tap or threats to flank.


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Starbuck’s Five-Force Competitive Analysis mission statement/paragraph that should specify your life’s goal!

Exhibit –5


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Portfolio Analysis: BCG Matrix mission statement/paragraph that should specify your life’s goal!

Exhibit 5–11


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BUSINESS STRENGTH mission statement/paragraph that should specify your life’s goal!

INDUSTRY ATTRACTIVENESS


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Organizational Strategies occur on 3 levels: Grand, Business, and Functional

  • A. Grand level strategies:

    - 1. Growth (a. concentration; b. diversification)

    - 2. Retrenchment

    - 3. Stability (status quo)

    - 4. Combination (multiple strategies)


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1a. Growth through concentration – concentrating on your existing specialization

i. market penetration – aggressively targeting current markets with existing product specialties

ii. market development/geographic expansion – expanding into new markets

iii. market segmentation – dividing existing

markets

iv. product development – modify existing

products, or develop new but related

products


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1b. Growth through diversification – branching out into new areas

i. horizontal integration – expanding across the general industry (e.g. Coke acquires Minutemaid).

ii. vertical integration – expanding into industries populated by suppliers/buyers (e.g. Ford buys steel plant).

iii. conglomerate diversification – expanding into unrelated industries (e.g. GM buys Hershey’s candy).

iv. joint venture – expanding together with another company in order to diversity efficiently.


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2. Retrenchment new areas

i. Turnaround – downsizing existing company/divisions

ii. Divestiture – selling off existing divisions/subdivisions

iii. Liquidation – Chapter 11 bankruptcy


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3. Stability - maintain status quo (e.g. continuous improvement)

4. Combination – multiple use of strategies


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  • B. Business level strategies improvement)

    1. Michael Porter’s Competitive Strategies:

    i. low cost (e.g. Wal-Mart)

    ii. differentiation (Volvo/Mercedes)

    iii. focus (Penny’s/Pea in a Pod)

    2. Adaptive business level strategies:

    a. prospecting

    b. defending

    c. analyzing


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Seven S Model of Implementation improvement)

STRATEGY

SKILLS

STRUCTURE

SHARED

VALUES

SYSTEMS

STAFF

STYLE


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Seven S Model improvement)

  • Strategy – Plan or course of action leading to the allocation of firm’s resources to reach identified goals.

  • Structure – The ways people and tasks relate to each other. The basic grouping of reporting relationships and activities. The way separate entities of an organization are linked.

  • Shared Values – The significant meanings or guiding concepts that give purpose and meaning to the organization.

  • Systems – Formal processes and procedures, including management control systems, performance measurement and reward systems, and planning and budgeting systems, and the ways people relate to them.

  • Skills – Organizational competencies, including the abilities of individuals as well as management practices, technological abilities, and other capabilities that reside in the organization.

  • Style – The leadership style of management and the overall operating style of the organization. A reflection of the norms people act upon and how they work and interact with each other, vendors, and customers.

  • Staff – Recruitment, selection, development, socialization, and advancement of people in the organization.



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