Basic concept of strategy strategic management
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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

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Basic concept of strategy strategic management

STRATEGIC MANAGEMENT

BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT

Slide Presentation by :

RiemaAfriani

RAK_IM Telkom_MMEks 23_CSBD MODULE_ 2009


3 central questions in thinking strategically

STRATEGIC MANAGEMENT

3 central questions in thinking strategically

  • Where are we now ? (swot)

  • Where do we want to go ? (target)

  • How will we get there ? (strategy?)


The history of strategy

STRATEGIC MANAGEMENT

The History of “Strategy”

  • has been borrowed from the military

  • in the military, strategy is same with tactics

  • strategy often refers to maneuvering troops into position before the enemy is actually engaged

  • “strategy is the art as a means to gain the object of war"


Basic concept of strategy strategic management

What is Strategy?

  • A combination of the words stratos, which meant “army”, and agein meaning “to lead”.

    Greek Language (6th century BC)


Basic concept of strategy strategic management

Strategic Management

Process of formulating, implementing, and evaluating, strategies to accomplish long-term goals and sustain competitive advantage.


Basic concepts

STRATEGIC MANAGEMENT

Basic Concepts

What is strategy?

  • Strategy as positioning.

  • Strategy as visioning

    Strategic Management?

  • Set of managerial decisions and actions that determines the long-run performance of a firm.


The essence of strategy thompson strickland 2001

STRATEGIC MANAGEMENT

The Essence of Strategy(Thompson & Strickland,2001)

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 ?


The essence of strategy wheelen hunger 2008

STRATEGIC MANAGEMENT

The Essence of Strategy(Wheelen & Hunger,2008)

Describe your company’s mission statement,

vision and values…


4 phases of strategic management

STRATEGIC MANAGEMENT

4 Phases ofStrategic Management

  • Basic financial planning

  • Forecast-based planning

  • Externally-oriented planning

  • Strategic management


Challenges to strategic management

STRATEGIC MANAGEMENT

Challenges to Strategic Management

  • Globalization

    • Internationalization of markets and corporations

  • Electronic Commerce

    • Use of the Internet to conduct business transactions

  • Ethics and Governance


Basic model of strategic management

Basic Model of Strategic Management

Four Basic Elements


Environmental scanning

STRATEGIC MANAGEMENT

Environmental Scanning

The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the firm.


Basic concept of strategy strategic management

Environmental Scanning

Opportunities & Threats (External)

  • Analysis of Trends:

    • Economic

    • Social

    • Cultural

    • Demographic/Environmental

    • Political, Legal, Governmental

    • Technological

    • Competitors


Basic concept of strategy strategic management

Environmental Scanning

Strengths & Weaknesses (Internal)

  • Typically located in functional areas of the firm

    • Management

    • Marketing

    • Finance/Accounting

    • Production/Operations

    • Research & Development

    • Computer Information Systems


Strategy formulation

STRATEGIC MANAGEMENT

Strategy Formulation

Development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses.


Basic concept of strategy strategic management

Strategy Formulation

Vision Statement –

What do we want to become?

Mission Statement –

What is our business?


Basic concept of strategy strategic management

To be the happiest place on earth.

To be the world’s best quick service restaurant.

Vision Examples


Basic concept of strategy strategic management

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


Basic concept of strategy strategic management

Strategy Implementation

Programs

Budgets

Procedures


Basic concept of strategy strategic management

Strategy Evaluation & Control

Internal Review

External Review

Measuring Performance

Strategic audit


Goals objectives

STRATEGIC MANAGEMENT

Goals & Objectives

  • Profitability (net profits)

  • Growth (increase in total assets, etc.)

  • Utilization of resources (ROE or ROI)

  • Market leadership (market share)


Elements of a dynamic strategy

ELEMENTS OF A DYNAMIC STRATEGY

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


Basic concept of strategy strategic management

"Effective managers live in the present

– but concentrate on the future."

(James L. Hayes )


Basic concept of strategy strategic management

THANK U


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