GSB 522 Strategy, Goals, and Objectives
Today’s Objectives Today’s Take Aways: • Understand the terms mission, strategy, goal, and objective; • Understand the importance of aligning the IS strategy with the business strategy; • Understand Porter’s five forces, generic, and value chain models related to competitive advantage; • Embedded Forms; • Importance of queries in converting data into information • What was the “occupation” of the man who created the ThighMaster before he created this device? Buddhist Monk
Quick Review Questions: One table database and a simple form • What are the 2 table views and what do you do in both? Design View and Datasheet View • What is the purpose of a primary key? It uniquely identifies a record in a table • How can you insure data is input in the correct form? Create validation rules and validation text • What is an autonumber? A number that is automatically generated within Access
Quick Review Questions: One table database and a simple form • What are the 2 form views and what do you do in both? Design View and Form View • What object in the toolbox would you use to create a calculated field in a form? Text box • What object in the toolbox would you use to create a navigation button in a form? Button (form control) • How do you over-ride the default properties of an object in a form? Right-mouse click and go to “Properties”
Famous Quote Vision without action is a dream … Action without vision is a nightmare. -Confucius
Strategy, Goals, Objectives What is a Mission? A mission is a statement of general purpose: the reason the organization exists. Who are we? What do we do? For whom do we do it?
Sample Mission Statement IBM's (IBM) Mission Statement • At IBM, we strive to lead in the invention, development and manufacture of the industry's most advanced information technologies, including computer systems, software, storage systems and microelectronics.We translate these advanced technologies into value for our customers through our professional solutions, services and consulting businesses worldwide.
Sample Mission Statement Microsoft’s Mission Statement At Microsoft, we work to help people and businesses throughout the world realize their full potential. This is our mission. Everything we do reflects this mission and the values that make it possible.
What is a Strategy? Strategy refers to top management’s plans to develop and sustain competitive advantage so that the organization’s mission is fulfilled. Strategic management is a broader term than strategy and is a process that includes top management’s analysis of the environment in which the organization operates prior to formulating a strategy, as well as the plan for implementation and control of the strategy.
Strategic Positioning Strategic Positioning: Attempts to achieve sustainable competitive advantage by preserving what is distinctive about a company. It means performing different activities from rivals, or performing similar activities in different ways.
Goals & Objectives What is a Goal? Goals should be directed toward a vision and consistent with the mission. Something the organization wants and expects to accomplish in the future. What is an Objective? An objective is a specific measurable result expected within a particular time period, consistent with a goal and strategy. A clear "milepost" along the strategically chosen path to the goal.
Functional Strategies • Important: consistency between business and functional strategies • Common differences in functional strategies between low-cost and differentiated businesses
Information Systems • Effective information systems can support all of the other functional strategies and enable goals and objectives. • The information system is important for all businesses, regardless of strategy. • Information Systems strategies often focus on enabling important (often strategic) business processes.
Developing A Strategy For The Internet Age • Professor Michael Porter: leading authority on competitive strategy and the competitiveness and economic development of nations, states, and regions • Porter’s three frameworks for coming up with ideas on how IT can be used to create competitive advantage for organizations:: • The Five Forces model • The Three Generic Strategies • The Value Chain
Developing A Strategy For The Internet AgeThe Five Forces Model Banks: ATMs & Online Transactions Retail Auto: Buyers have same info as dealers Hotels: Loyalty Program CPA: Tax software
Developing A Strategy For The Internet Age: The Three Generic Strategies • Three generic strategies • Cost leadership • Differentiation • Focused strategy
Developing A Strategy For The Internet AgeThe Three Generic Strategies Wal-Mart Nordstrom Walgreens Dell
VALUE CHAINS – TARGETING BUSINESS PROCESSES • Graphical Depiction of a Value Chain
VALUE CHAINS – TARGETING BUSINESS PROCESSES • Organizations find tremendous value in analyzing their value chains along with Porter’s Five Forces