Chap 1 PPT - What is Strategy Chapter 1 Strategic...

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1 What is Strategy? Chapter 1: Strategic Management & Strategic Competitiveness BUSA 4980 (Strategic Management) Dr. Steven Dionne Spring 2016
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Chapter 15 / Exercise 7
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The Strategic Management Process … Course Outline 2 The External The External Environment Environment The Internal The Internal Organization Organization Develop Vision / Develop Vision / Mission; Set Mission; Set Objectives Objectives Craft Strategy to Craft Strategy to Achieve Vision and Achieve Vision and Objectives Objectives Chapter 2 Chapter 3 Strategic Inputs Strategy Formulation Ch.4: Business-Level Strategy Ch.5: Competitive Rivalry Ch.6: Corporate-Level Strategy Ch.8: International Strategy Ch.7: Acquisition and Restructuring Strategies Ch.9: Cooperative Strategy Execute and Execute and Implement Chosen Implement Chosen Strategy Strategy Strategy Implementation Ch.11: Organizational Structure & Controls Ch.12: Strategic Leadership Ch.10: Corporate Governance Ch.13: Strategic Entrepreneurship Strategic Competitiveness Strategic Competitiveness Competitive Advantage Competitive Advantage Above-average returns Above-average returns Strategic Outcomes Feedback Chapter 1: 1. What Do We Mean by Strategy? 2. Achieving Strategic Competitiveness? 3. How is Strategy Formulated?
1. What Do We Mean By Strategy ?
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4 Strategy and the Quest for Competitive Advantage The basis of any strategy is the actions in the marketplace that managers are taking to enhance strategic competitiveness Strategic competitiveness is achieved when a firm formulates and implements a value-creating strategy It often involves carving out a unique market position that produces a competitive edge over rivals The objective = Competitive advantage A competitive advantage entails an implemented strategy that competitors are unable to duplicate or find too costly to imitate It entails achieving returns in excess of what investors expect in comparison to other investments with similar risk
A Number of Actions can Constitute a Strategy Posits a Broad Terrain … Consider Starbucks Grow the Store Portfolio – Increase the scale of the Starbucks store footprint with disciplined expansion Different formats, licensing opportunities and international expansion Extend Digital Engagement – Drive convenience and brand engagement through mobile commerce platforms, such as Mobile Order and Pay Build Teavana – Create a second major business in tea Create New Occasions to Visit Stores – New food offerings for lunch, afternoon refreshment and snacks Broaden in-store products to include coffee-flavored ice cream, fresh pastries, music

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