Strategic Management. AIi Divandari Fall and Winter 2008. Ask yourself one question!.
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Fall and Winter 2008
How important is a picture when you are trying to assemble a jigsaw puzzle that has no straight edges and includes extra pieces in the box? Running a company in today’s markets is even more challenging than assembling that puzzle.
The word strategy which is derived from the Greek word strategosmeans “the general’s view”.
Top executives are not lone wolves when it comes to devising and implementing strategy. They rely on lower-level managers to collect and analyze the regarding competition and commercial opportunities.
The better the employees understand the firm’s strategy, the better they’ll be able to make choices that are consistent with it.
Role of strategic thinking: to seek innovation and imagine new and very different futures that may lead a company to redefine its core strategies and even its industry
Role of strategic planning:to realize and support strategies developed through strategic thinking process and integrate these back into the business
Seeking new strategic opportunities
Collection of hard data
(the scientific skills)
Collection of soft data
(the perceptual skills)
Accumulation of facts and
evaluation of probabilities
Accumulation of uncertainties
Use of intuition to define
Use of analytical models to
define the opportunities
of the strategic opportunity
and excellent execution
Long Term Success
For a while
Process by which a firm incorporates the tools and frameworks for developing and implementing strategy.
When a firm sustains profits that exceeds the average for its industry the firm is said to possess a competitive advantage over its rivals. The goal of much of business strategy is to achieve a sustainable competitive advantage.
A competitive advantage enables a firm to create superior value for its customers and superior profits for itself.
Strategic management consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.
Vision and Mission