Managing Strategy and Strategic Planning | Chapter 9

Chapter 9 | Managing Strategy and Strategic Planning

Principles of Management
Introduction Management in Urdu/Hindi
Management Stephen P Robbins Mary Coulter

Managing Strategy

What is Strategic Management ?
Strategic Management is What Managers do to develop the organizational strategies

Strategies : The Plans for how the organization will do what it’s in business to do, how it will compete successfully , and how it will attract and satisfy its customers in order to achieve its goals.
Business Model: How a company is going to make money.

Why is Strategic Management Important?

Strategic Planning and Performance
Uncertainty and changing Environment
Organizations are complex and diverse

What is Strategic Management Process ?
Strategic Management Process is six step process that encompasses strategic planning , implementation and evaluation

Step 1 : Identifying the Organization’s Current Mission, Goals and Strategies
Step 2: Doing an External Analysis
Opportunities : Positive trends in the external environment
Threats: negative trends in the external environment

Step 3: Doing an Internal Analysis
Resources: An organization’s assets that are used to develop, manufacture and deliver products to its customers.
Capabilities: An organization’s skills and abilities in doing the work activities needed in its business.
Core Competence: An organization’s major value creating capabilities that determine its competitive weapons.
Strengths: Any activity the organization does well or its unique resources.
Weaknesses: Activity the organization does not do well or resources it needs but does not possess.

What is SWOT Analysis ? An analysis of the organization’s strengths, weaknesses, opportunities, and threats

Step 4: Formulating Strategies
Step 5: Implementing Strategies

Step 6: Evaluating Strategies

What are Type of Organizational Strategies?

Corporate Strategies: What is Corporate Strategy?

Corporate Strategy: An organizational Strategy that determines what businesses a company is in or wants to be in, and what it wants to do with those businesses

What are the types of Corporate Strategy ?
Growth Strategy: A Corporate Strategy that’s used when an organization wants to expand the number of markets served or products offered, either through current business (es) or through new business (es).
Stability Strategy: A corporate Strategy in which an organization continues to do what it is currently doing.
Renewal Strategy: A corporate Strategy designed to address declining performance.

Growth Strategy: Options
Concentration: focuses on its primary line of business and increase the number of product and services or market served.
Vertical Integration or backward Integration: take control on the input/suppliers
Horizontal Integration : A company grows by combining with competitors
Diversification: either related or unrelated Diversification.

How are Corporate Strategies Manager?
BCG Matrix : A strategy tool that guides resource allocation decisions on the basis of market share and growth rate of the strategic business unit (SBU).

The Boston Matrix , BCG Matrix ?

Competitive Strategies

Competitive Strategy : An organizational strategy for how an organization will compete in its business (es).
Strategic Business Unit (SBU): The single independent business of an organization that formulate their own Competitive Strategies.

The Role of Competitive Advantage
Competitive Advantage: what sets an organization as part; its distinctive edge

Source of Competitive Advantage

Quality as a competitive Advantage
Design thinking as a competitive Advantage
Social media as a competitive Advantage

What Sustaining Competitive Advantage ?

Five Force Model
Threat of new Entrants
Bargaining power of customers
Existing Competitive Rivalry
Threat of Substitutes
Bargaining power of suppliers

Choosing a Competitive Strategy

Cost Leadership Strategy
Differentiation Strategy
Focus Strategy
Stuck in the middle

What is the Functional Strategy ?

A Strategy used by an organization’s various functional departments to support the competitive strategy

Current Strategic Management Issues
Need of strategic leadership
The need of strategic flexibility
Design strategies to emphasize e business, customer service, and innovation

What us Strategic Leadership
The ability to anticipate, envision, maintain flexibility, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization

Important Organizational Strategies for Today’s Environment
First Mover advantages and Disadvantages

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