Strategic Management Planning and Execution for Competitive advantage

Strategic Management Planning and Execution for Competitive advantage

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Strategic Management: Planning and Execution for Competitive advantage Yousef Kuktut 20121003 Ahmad Salim 20130172
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Major Topics What is strategic management ? Competitive Strategy Competences and competitive advantage Components of strategic management Strategic Planning: Overview Conducting the SWOT analysis Developing the vision Developing the mission statement Developing the Guiding Principles Developing Broad Strategic Objectives Developing Specific Tactics (Action Plan) Executing the Strategic plan
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What is strategic management ? Organizational Strategies : approaches adapted by the organizations to ensure successful performance in the marketplace. Strategic management : management that bases all actions, activities, and decisions to ensure successful performance in the marketplace. managers perspective : resources are wasted unless conducted successfully .
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Competitive Strategy Organizations must adopt broad strategy that helps into a sustainable competitive advantage. All strategies are fall into one or more categories : - -cost leadership :- seek to improve efficiency control through organization’s activity chain. -differentiation : - adding value to customers, products or services -Market-niche strategies :- focus on narrowly –defined a segment of the market.
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Competitive Strategy Total Quality relates to strategic management that enhances the organizations ability to sustain a competitive advantage in the market place . Total quality is the most effective way of using such strategies to use and adopt these strategies and to improve efficiency and performance on the long term. An Organizations must focus on competitive advantage in the market place because approaching into a new market that is “out-side “ their competences realm may be difficult to operate and achieve the “world-class” performance of the organization.
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Competences and Competitive Advantage Identifying the organizations competences is a part of the organization’s SWOT analysis . And its considered is one of the strengths of the organization. This identification is important because: - 1-contribute directly to increase customer demand by achieving superior value . 2-it’s difficult for competitors to replicate.
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Components of Strategic Management:- Strategic management consists of two interrelated activities:- a- strategic planning: involves developing a written plan that has: an organizational vision / an organizational mission, projects, tactics (an action plan). b- Strategic execution: involves implementing strategies / monitoring progress towards their achievement / adjusting as necessary. / monitoring involves constantly checking actual performance against t performance benchmarks.
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  • Spring '16
  • Dr. Bob

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