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

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Unformatted text preview: The Managerial Process of Crafting and executing Strategy Screen graphicacreatectby: 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 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 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....
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This note was uploaded on 04/09/2009 for the course MKTG 4000 taught by Professor Margarettakeda during the Fall '08 term at Colorado.

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

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