SMR-Session1 Aligning Resources with Strategic Plan - SMR-Session1 Aligning Resources with Strategic Plan 1 Definition of Strategy The plan for how to

SMR-Session1 Aligning Resources with Strategic Plan -...

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SMR-Session1 Aligning Resources with Strategic Plan
1 Definition of Strategy =1 The plan for how to marshal and determine actions to support the mission, goals, and objectives of an organization. 1.1 development of time horizon 1.2 identify key events 1.3 distinctive competence 1.4 competitive advantage 1.5 flexibility of decision patterns 1.6 Transformation of inputs into value-added outputs 1.7 commitment of necessary resources 2 Types of Strategy 2.1 Purpose of Strategy =2 Keep Corporate dynamic and successful in the changing world 2.2 Core of the strategic planning model 2.2.1 Corporate Strategy 1. Essential elements for corporate survival--Vision 2. Define mission, awareness of external environment changing 3. SWOT Analysis 4. Environmental Scanning 2.2.2 Business Strategy 5. Price Leadership 1. Low cost 2. effective SCM 3. Standardized Product 4. Standardized Process 6. Product differentiation 5. High-quality product 6. Easily adaptable processes 7. Customer focus 7. Responsive delivery, process flow 8. Customized for targeted market segment
2.3 Functional strategies 2.3.1 Finicial Strategy =3 A statement of long-range strategy and revenue, cost, and profit objectives usually accompanied by budegts, a projected ballance sheet, and a cash flow (source and application of funds) statement Short- and long-term planning plan =4 Expressed in the annual budget and included in the goals and objectives of the strategic plan Controls plan =5 compare the budget to actual results Directions Plan =6 Accounting data used for day-to-day decision-making, and keep the organization on the right direction 2.3.2 Product Development Strategy 11. Critical skill plan =7 product technologies profound changes Product characteristics and technology plan =8 Evaluate company products Product generation plan =9 Break product family into different generations, by small tech changes or cost changes 2.3.3 Marketing Strategy 14. Determining the market segment plan 9. select the product market area 10.

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