STRATEGIC MANAGEMENT. BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT. Slide Presentation by : Riema Afriani. RAK_IM Telkom_MM Eks 23_CSBD MODULE_ 2009. STRATEGIC MANAGEMENT. 3 central questions in thinking strategically. Where are we now ? ( swot ) Where do we want to go ? (target)
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BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT
Slide Presentation by :
RAK_IM Telkom_MMEks 23_CSBD MODULE_ 2009
What is Strategy?
Greek Language (6th century BC)
Process of formulating, implementing, and evaluating, strategies to accomplish long-term goals and sustain competitive advantage.
What is strategy?
Selecting one position that a company can claim as its own
A Strategic Position is simply the sum of company’s answers to the questions :
Who should the company target as customers ?
What products or services should the company offer the targeted customers ?
How the company efficiently conduct business ?
Describe your company’s mission statement,
vision and values…
Four Basic Elements
The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the firm.
Opportunities & Threats (External)
Strengths & Weaknesses (Internal)
Development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses.
Vision Statement –
What do we want to become?
Mission Statement –
What is our business?
To be the happiest place on earth.
To be the world’s best quick service restaurant.
Mission Statement Example
The Bellevue Hospital, with respect, compassion, integrity, and courage, honors the individuality and confidentiality of our patients, employees, and community, and is progressive in anticipating and providing future health care services.
-- The Bellevue Hospital
Strategy Evaluation & Control
Find unique strategic position in current industry
Compete in this position by becoming better than industry competitor
Jump in to different industry, repeat process
Make transition from old position to new
Search for new strategic positions
Manage old & new positions simultaneously
"Effective managers live in the present
– but concentrate on the future."
(James L. Hayes )