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Strategy Management in ActionBy: Mary Coulter Sydne Collier Amanda Haines Jacob Johnson Eric Launer Katie Shaw Zach Slagle Mark Weyandt
Overview • 2.1 Competitive advantage • 2.2 Driving forces, implications, critical success factors • 2.3 Organizational vision and mission, corporate social responsibility and ethics
Red Bull • Founded in 1984 by Dietrich Mateschitz. • Currently sold in 164 countries and have established subsidiaries in various sports.
Competitive Advantage • Its what sets your organization apart from other companies • Managing strategically • There are 3 views that managers can use to help with being competitively advanced • Industrial Organization View • Resource-Based View • Guerrilla View
Driving Forces • Information revolution • Technology • Globalization • Global markets • Global competitors
Implications • Continual Change • Reduced need for physical assets • Vanishing distance and compressed time • Vulnerability
CriticalSuccess Factors • Ability to embrace change • Change agents • Creativity and innovation capabilities • Being a world-class organization • 6 major characteristics
CriticalSuccess Factors-Red Bull • Ability to embrace change • Introduced Sugar Free and Total Zero • Creativity and innovation capabilities • Marketing and Advertising- Operating under Resource Based View • Being a world-class organization • Selling products and Team Sport events in over 160 countries
Organizational Vision and Mission • Organizational vision • Broad comprehensive picture of what a leader wants an organization to become • A statement of what the organization stands for, what it believes in, and why it exists
Four Components of an Effective Organizational Vision • The vision be built on a foundation of the organizations core values and beliefs • The vision should elaborate a purpose for the organization • The vision should include a brief summary of what the organization does • The vision should specify broad goals
Corporate Social Responsibility • The obligation of organizational decision makers to make decisions and act in ways that recognize interrelatedness of business and society • Traditional approach-benefit only stockholders • New age approach- benefit everybody involved within the corporation
Corporate Social Responsibility-Redbull • Activelysupports Wings For Life-Spinal CordResearch Foundation • Aim to reduce their carbon footprint
Ethics • Involves the principals that define right and wrong decisions and behavior • Both a personal and an organizational issue and should be part of the strategic management process • Avon Products Inc creating its Worldwide fund for Women's Health • Both the right thing to do and boosting sales