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chapter 1 – Introducing the concepts. Katie Ficken Ryan Lacy Kelsey Combest Taylor Stevenson. STRATEGIC MANAGEMENT IN ACTION. Learning Outcomes. Why strategic management is important What strategic management is Who’s involved with strategic management

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chapter 1 introducing the concepts

chapter 1 – Introducing the concepts

Katie Ficken

Ryan Lacy

Kelsey Combest

Taylor Stevenson

STRATEGIC MANAGEMENT IN ACTION

learning outcomes
Learning Outcomes
  • Why strategic management is important
  • What strategic management is
  • Who’s involved with strategic management
  • Three important factors impacting strategic management today
why strategic management is important
Why Strategic Management is Important
  • Everyone in an organization plays a role in managing strategically.
  • Strategic management can make a difference in how well an organization performs; helps deal with continually changing situations; and helps in coordinating various divisions, functions, and work activities.
what strategic management is
What Strategic Management Is
  • The Basics of Strategy and Strategic Management
    • Strategies: an organization’s goal-directed plans and actions that align its capabilities and resources with the opportunities and threats in its environment.
    • Strategic management: a process of analyzing the current situation, developing appropriate strategies, putting those strategies into action, and evaluating and changing those strategies as needed.
    • Strategic management is interdisciplinary, has an external and internal focus, and involves future direction.
what strategic management is5
What Strategic Management Is
  • The Strategic Management Process
what strategic management is6
What Strategic Management Is
  • The Strategic Management Process
    • Situation Analysis – scanning and evaluating the current organizational context & external environment.
    • Strategy Formulation – developing and then choosing the appropriate strategies.
      • Functional strategies (operational strategies)
      • Competitive strategies (business strategies)
      • Corporate strategies
what strategic management is7
What Strategic Management Is
  • The Strategic Management Process
    • Strategy Implementation – putting the various strategies into action.
    • Strategy Evaluation – evaluating both the outcomes of the strategies and how they’ve been implemented, and making modifications as needed.
who s involved with strategic management
Who’s Involved With Strategic Management
  • Three main groups who play key roles in the strategic management process:
    • The Board of Directors – an elected group that represents a company’s shareholders.
      • Bill Campbell
      • Steve Jobs
      • Al Gore
who s involved with strategic management9
Who’s Involved With Strategic Management
  • Top Management Team – typically the chief executive officer (CEO) and other executive or senior managers such as a chief operating officer (COO), chief financial officer (CFO), chief information officer (CIO), and others.
    • Steve Jobs, CEO
    • Timothy Cook, COO
    • Peter Oppenheimer, CFO
  • Other Mangers & Organizational Employees – individuals that put the strategies into action and evaluate them.
who s involved with strategic management10
Who’s Involved With Strategic Management
  • Top management’s role involves strategic leadership: the ability to anticipate, envision, maintain flexibility, think strategically, and work with others in the organization to initiate change that will create a viable and valuable future for the organization.
important factors impacting strategic management today
Important Factors Impacting Strategic Management Today
  • The Global Economy & Globalization
  • Corporate Governance
  • E-business
apple inc
Apple, Inc.

2009 Sales

iPods 19% of total sales

iPhones 30% of total sales

takeaways
Takeaways
  • Why is strategic management important?
    • It allows individuals to work more effectively and helps improve organizational performance.
  • What is strategic management?
    • The process of analyzing the current situation, developing appropriate strategies, putting those strategies into action, and evaluating and changing those strategies as needed.
  • Who is involved with strategic management?
    • Everyone!
references
References
  • “Apple, Inc.” Hoover's Company Records.  1 September 2010 Hoover's Company Records, ProQuest. Web.  4 Sep. 2010
  • www.apple.com
  • "A Strategic Analysis of Apple Corporation". http://www.scribd.com/doc/11983566/A-Strategic-Analysis-of-Apple-Corporation.