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How Can the Business Be Positioned Through Strategic Thinking?. Overview. Strategic management Your own strategic direction Tools for analyzing strategic direction Determining strategic alternatives. What is strategic management?.

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Presentation Transcript
overview
Overview
  • Strategic management
  • Your own strategic direction
  • Tools for analyzing strategic direction
  • Determining strategic alternatives
what is strategic management
What is strategic management?

Strategic management is all about anticipating, driving, and capitalizing on change:

  • Anticipating: seeing the future
  • Driving: shaping the future
  • Capitalizing: making the most of the future
what is strategic management4
What is strategic management?
  • “If it ain’t broke...
  • Don’t fix it.”
  • “If it ain’t broke...
  • You haven’t looked hard enough.
  • Fix it anyway!”
          • Tom Peters
          • Thriving on Chaos
what is strategic management5
What is strategic management?

In any strategic planning process, we must answer three key questions:

  • Where are we now?
  • Where are we going?
  • How will we get there?
the performance gap

Goal

Gap

Current Path

TODAY

The Performance Gap

Outcome

Time

how do we close the gap
How do we close the gap?
  • Define our current position ....
    • with respect to customer needs, competitors, the general market situation
  • Determine our goal ....
    • where should our firm be in 5, 10, …, years?
  • Evaluate our firm and our market ….
    • Strengths, Weaknesses, Opportunities, Threats
  • Start down the path that will lead to our goal
    • short - long-term action steps to move toward our target
what is strategy
What is strategy?
  • Operational effectiveness

versus

strategy

  • What is operational effectiveness?
what is strategy9
What is strategy?
  • “Competitive strategy is about being different.”
  • “Strategy is the creation of a unique and valuable position in your industry.”
  • “Activities are the basic units of competitive advantage.”
    • “Strategy is about combining activities.”
    • “Strategy is about creating fit among a company’s activities.”
  • “Strategy is choosing what not to do.”
what is strategy10
What is strategy?
  • Strategyis….
    • Looking longer term
    • Capitalizing on change
    • A stream of decisions
    • Focused on a purpose
    • Managing strategic risks
    • Creating a unique and valuable position
    • Choosing what not to do
the strategic management process12

Assessing the Situation

Vision

Mission

Strategy

Implementation

Goals

Objectives

Core

Strategy

Functional

Strategies

Market

Conditions

Customers

Product

Marketing

Your

Firm

Volume

Resources

Competitors

Purchasing

Finance

Organization

Strengths

Weaknesses

People

Social

Opportunities

Threats

The Strategic Management Process

Operations

Management