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UNIT 3: THE STRATEGIC MANAGEMENT PROCESS

UNIT 3: THE STRATEGIC MANAGEMENT PROCESS. THE STRATEGIC MANAGEMENT PROCESS. The formulation and implementation of strategies to achieve corporate success. The Strategy Position The environment Strategic capability Expectations and purposes Strategic choices

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UNIT 3: THE STRATEGIC MANAGEMENT PROCESS

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  1. UNIT 3: THE STRATEGIC MANAGEMENT PROCESS

  2. THE STRATEGIC MANAGEMENT PROCESS • The formulation and implementation of strategies to achieve corporate success. • The Strategy Position • The environment • Strategic capability • Expectations and purposes • Strategic choices • Corporate, business, functional, international • Development directions and methods

  3. Strategy into action • Organizing • Enabling • Managing change

  4. The development and implementation of strategy to achieve corporate success. • The analysis, decisions and actions an organization carries out to achieve sustainable competitive advantage.

  5. Strategic management is about organizational performance. - Why do some companies do better than others? - How can we create sustainable competitive advantage?

  6. Strategic management encompasses both strategy and operations. • Efficiency and effectiveness • Short term and long term

  7. Sustainable competitive advantage cannot be achieved through operational effectiveness alone (Porter, M.) • Operational effectiveness means doing similar activities better than rivals. • Strategy is about being different from rivals. • Sustainable competitive advantage comes about by performing different activities from rivals or performing similar activities in different ways.

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