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Strategic Management in Action: Final Analysis

Strategic Management in Action: Final Analysis. Group 2: Andrew Maale, Kristy Strong, John White. Why Strategic Management is important. Ch. 1. Strategic Management.

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Strategic Management in Action: Final Analysis

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  1. Strategic Management in Action: Final Analysis Group 2: Andrew Maale, Kristy Strong, John White

  2. Why Strategic Management is important Ch. 1

  3. Strategic Management • Organizations are constantly faced with changing situations both internally( capabilities/resources) and externally( opportunities/threats) and are still expected to meet a certain level of output. • SM process • Situation analysis- current situation • Strategy Formulation- designing • Strategy Implementation- action • Strategy Evaluation- revisit and check Who’s involved • The board of directors • The top management team • Other strategic managers and organizational employees

  4. Competitive Advantage Ch.2Resource Based View

  5. Drivers of the new business environment

  6. External analysis Ch.3 • Scanning and evaluating an organizations external environment • Opportunities/threats • Source of information/resources • Environmental uncertainty (dynamic or stable) • Specific environments • General environments

  7. Internal Analysis • Process of evaluating an organization’s resources and capabilities. • It is the only way to identify organization’s strengths and weaknesses • It is needed for making good strategy decisions.

  8. Functional Strategies • Goal-directed plans and actions of the organization’s functional areas. • The Product • The People • The Support Processes

  9. Corporate Strategy • Strategy concerned with the choices of what business/businesses to be in and what to do with them. • Single-business organizations • Multiple-business organizations • The competitive strategy and various functional strategies are aligned with the overall direction that strategic managers have chosen for the organization and are being implemented.

  10. Importance of Competitive Planning • Competitive Environments are Inevitable • Creating a Blue Ocean might not always be cost effective • Sometimes forming a competitive strategy is more efficient • Battle of Thermopylae

  11. Battle of Thermopylae • Best Possible use of Forces • Pass at Thermopylae was ideally suited to the Greek style of warfare • Greeks competitive strategy allowed them to take away the Persians quantitative advantage, to allow their strength to shine through, and their weaknesses covered up.

  12. Strategic Management: Not Just for Business Management? • Good to Great touches on this in Ch. 1 • Education; Politics; Not For Profits • Applying these concepts and measuring concepts in terms other than economic. • Education = Graduation Rates & Test Scores • Politics = ??? • NFPs = Consistency of Short Term & Long Term Goals Achieved

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