{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

power point slides0001

power point slides0001 - The Managerial Process of Crafting...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
The Managerial Process of Crafting and executing Strategy Screen graphicacreatect·by: Jana F. Kuzmldd, Ph.D. Troy Univeraily-Florida Region What Does the Process of Crafting and Executing Strategy Entail? Developing a Strategic Vision: Phase 1 of the Strategy-Making, Strategy-Executing Process Setting Objectives: Phase 2 of the Strategy-Making, Strategy- Executing Process Crafting a Strategy: Phase 3 of the Strategy-Making, Strategy- Executing Process Implementing and Executing the Strategy: Phase 4 of the Strategy-Making, Strategy-Executing Process Initiating Corrective Adjustments: Phase 5 of the Strategy- Making, Strategy-Executing Process Corporate Governance: The Role of the Board of Directors in the Strategy-Making, Strategy-Executing Process
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Developing a Strategic Vision (Phase 1 of the Strategy-Making process) Involves thinking strategically about -+ Future direction of company -+ Changes in company's product/market/customer technology to improve Current market position Future prospects A strategic vision describes the route a company intends to take in developing and strengthening its business. It lays out the company's strategic course in preparing for the future. Delineates management's aspirations for the business Provides a panoramic view of "where we are going" Charts a strategic path Is difttinythLe and sseCifiC to a pa ICU ar orgamza Ion ~ A voids use of generic language that is dull and boring and that could apply to most any company Captures the emotions of employees and steers them in a common direction Is challenging and a bit beyond a company's immediate reach • A well-conceived and well-communicated vision functions as a valuable managerial tool to ~ Give the organization a sense of direction, mold organizational identity, and create a committed enterprise ~ Inform company personnel and other S~lr!holders what management wants its business to looF and 'Where we are going" •••••• ~ Spur company personnel to action ~ Provide managers with a reference point to Make strategic decisions Translate the vision into hard-edged objectives and strategies Prepare the company for the future A strategic vision exists only as words and has no organizational impact unless and untJllt wins the commitment of company personnel and energizes them to act in ways that move the company along the intended strategic pathl
Image of page 2
Red Hat •• r~~ii~i To extend our position as the most trusted Linux and open source provider to the enterprise. We intend to grow the market for Linux through a complete range of enterprise Red Hat Linux software, a powerful Internet management platform, and associated support and services. Wells Fargo We want to satisfy all of our customers' financial needs, help them success financially, be the premier provider of financial services in every one of our markets, and be known as one of America's great companies.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern