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Strategic Management. Dr. Hala Hattab November 21-23 Venue . Course Introduction . Welcome About Me About You (why you?) Why Strategy? Overview of Topics and Calendar Expectations Introduction of Concepts. Who are You? Self Introduction. Name Company Undergraduate Studies

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Strategic management l.jpg

Strategic Management

Dr. Hala Hattab

November 21-23


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Course Introduction

  • Welcome

  • About Me

  • About You (why you?)

  • Why Strategy?

  • Overview of Topics and Calendar

  • Expectations

  • Introduction of Concepts

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Who are You? Self Introduction

  • Name

  • Company

  • Undergraduate Studies

  • Work experience, if any

  • What are you interested in?

  • What do you hope to gain from this course?

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Why You?

  • You will be principals in firms

  • You will have to decide what to do: What markets?

    What services?

    Where to dedicate your time?

    What kinds of people?

  • You probably will be part of a team.

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Why Strategy?

  • It’s about how businesses compete.

  • How to earn above average returns.

  • Selection of industries

  • Selection of segments

  • Choice of tactics

  • How to IMPLEMENT!

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Overview of Topics and Calendar

  • Day 1

    • Introduction to Strategic Planning and Management

    • Why strategic management is important?

    • Strategic Management: Key Concepts

    • Strategic Planning for SMEs

  • Day 2

    • Design a business plan for your organization

  • Day 3

    • Design a business plan for your organization

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Expectations for the Course: You Will…

  • Struggle with figuring out what to do

  • Be prepared to participate in planning for your own firms

  • Study real business situation

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Introduction of Concepts

  • Strategic Management: The set of managerial decisions and actions that determines the long-run performance of an organisation.

  • Strategic Planning: The process of determining a company's long-term goals and then identifying the best approach for achieving those goals

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Why is strategic management important?

  • Gives everyone a role

  • Makes a difference in performance levels

  • Provides systematic approach to uncertainties

  • Coordinates and focuses employees

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Basics of Strategic Management

  • Four aspects that set strategic management apart

    • Interdisciplinary

      • Capstone of the Business degree

    • External focus

      • Competition

    • Internal focus

    • Future direction

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Strategic Management Process

  • Step 1: Identifying the organisation’s current mission, objectives, and strategies

    • Mission: the firm’s reason for being

      • Who we are,

      • What we do, and

      • Where we are now

    • Goals: the foundation for further planning

      • Measurable performance targets

  • Step 2: Conducting an external analysis

    • The environmental scanning of specific and general environments

    • Focuses on identifying opportunities and threats

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Strategic Management Process (cont’d)

  • Step 3: Conducting an internal analysis

    • Assessing organisational resources, capabilities, activities and culture:

      • Strengths (core competencies) create value for the customer and strengthen the competitive position of the firm.

      • Weaknesses (things done poorly or not at all) can place the firm at a competitive disadvantage.

        Steps 2 and 3 combined are called a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats)

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Strategic Management Process (cont’d)

  • Step 4: Formulating strategies

    • Develop and evaluate strategic alternatives

    • Select appropriate strategies for all levels in the organisation that provide relative advantage over competitors

    • Match organisational strengths to environmental opportunities

    • Correct weaknesses and guard against threats

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Strategic Management Process (cont’d)

  • Step 5: Implementing strategies

    • Implementation: effectively fitting organisational structure and activities to the environment

    • Effective strategy implementation requires an organisational structure matched to its requirements.

  • Step 6: Evaluating results

    • How effective have strategies been?

    • What adjustments, if any, are necessary?

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Part Two:

Business Plan

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What is a BP ?

  • A written document that

  • outlines an organization's overall direction, philosophy, and purpose

  • examines its currentstatus in terms of its strengths, weakness, opportunities, and threats

  • sets long-term objectives, and

  • formulates short-term tactics to reach them.

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The Strategic Mind behind BP

  • Focus the strategic parts of your plan related to:

    • Time and Energy to attain goals (predefine what is to be achieved)

    • Resource allocation (Count chickens before they hatch don’t take in too much. Promise what can be delivered)

    • Your Business and Competition (Analyze your strengths and weakness)

    • Employee communication (nice trick, don’t take the blame over you)

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Extended Tricks

  • Divide the work. Take The Correspondence.

  • Editable BP – make BP in revisions as you go in depth, make it finalized when you are sure about zero loopholes

  • Make another BP as a Plan 2, so that anytime you can seek in more resource (handy but a tough trick)

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How to Draft a Simple BP

  • Work on These lines:

    • Vision of organisation

    • Goal of future

    • Clients, Users, Target market

    • Edge of you / your team / company

    • Barriers to achieve the target

    • Better serve ??

    • Ad more to target..possible ??

    • Adding new customers / users / target market share

    • Accountings

    • Starting of the plan dates

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In theory, there is no difference between theory and practice. But, inpractice, there is." - Jan L.A. van de Snepscheut

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Simply Stated... practice. But, in

Make your points clearly and crisply.

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Style counts… practice. But, in

  • Use bulleted or enumerated points whenever possible.

  • Leave a wide margin.

  • Try to utilize meaningful graphs and diagrams throughout the entire plan

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Basic Structure practice. But, in

  • Executive Summary

  • The Market

  • The Product

  • The Team

  • The Strategy

  • The Forecasts

  • Appendices

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Market Analysis practice. But, in

  • It should be as useful for you as it is for the investor.

    • Situation Analysis

    • Market Opportunity

    • Competitive Factors

    • Technical Feasibility

    • Risk/Reward Assessment

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The Product practice. But, in

  • Know when “less is more”

  • Readability geared for layman

  • Deep technical points can be reserved for an appendix

    “Market Driven Engineering”

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The Forecasts practice. But, in

  • Let’s be realistic!

  • 4 year model

  • Monthly detail only in years #1 and #2

  • Drive data from “unit model”

  • Use ordinal numbers for months

  • Understand your DCF

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Executive Summary practice. But, in

  • This may be the only document that gets read; distill the most important points

  • Write it after the rest of the document, but put it 1st

  • Use same terminology, wording, and images

  • Provide your sense of valuation and likely deal structure

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Appendices practice. But, in

  • Stuff you wanted to put in the plan

    • Technical white-paper(s)

    • More detailed financial analysis, DCF, etc.

    • Additional competitive data

    • Additional market data/published reports

    • Articles about the company, product, market, team, etc…

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Concluding Remarks practice. But, in

  • Impress the reader with the thoroughness of your understanding of the market.

  • Make it understandable.

  • Value white-space.

  • Develop realistic, flexible financial forecasts