Chap01 - Chapter 1 What Is Strategy and Why Is It Important...

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1-1 What  Is  Strategy  and What  Is  Strategy  and Why  Is  It  Important? Why  Is  It  Important? 1 1 Chapter
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Without a strategy the  Without a strategy the  organization is like a  organization is like a  ship without a rudder.” ship without a rudder.” Joel Ross and Michael Kami
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1-3 Chapter  Roadmap Chapter  Roadmap What Is Strategy? Identifying a Company’s Strategy Strategy and the Quest for Competitive Advantage Strategy Is Partly Proactive and Partly Reactive Strategy and Ethics: Passing the Test of Moral Scrutiny The Relationship Between a Company’s Strategy and Its Business Model What Makes a Strategy a Winner? Why Are Crafting and Executing Strategy Important?
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1-4 Thinking  Strategically: Thinking  Strategically: The  Three  Big  Strategic  Questions The  Three  Big  Strategic  Questions 1. Where are we now? 2. Where do we want to go? Business(es) to be in and market positions to stake out Buyer needs and groups to serve Outcomes to achieve 3. How will we get there? A company’s answer to “how will we get there?” is its strategy
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1-5 What  Is  Strategy? What  Is  Strategy? Consists of the combination of competitive moves and business approaches used by managers to run the company Management’s “game plan” to Attract and please customers Stake out a market position Compete successfully Grow the business Achieve targeted objectives
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1-6 How to please customers How to respond to changing market conditions How to outcompete rivals How to grow the business How to manage each functional piece of the business and develop needed organizational capabilities How to achieve strategic and financial objectives Strategy is HOW to . . . The   The   Hows Hows   That   That Define  a  Firm's  Strategy   Define  a  Firm's  Strategy  
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1-7 What  Are  a  Company’s  Strategic  What  Are  a  Company’s  Strategic   Choices?  Choices? Trial-and-error organizational learning about What has worked and What has not worked Management’s appetite for taking risks Managerial analysis and strategic thinking about how best to proceed, given prevailing circumstances Strategic choices are based on . . .
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1-8 Key  Elements: Key  Elements: Southwest  Airlines’  Strategy Southwest  Airlines’  Strategy Grow the business by gradually adding more flights on existing routes and initiating service to new airports Make friendly service a company trademark Maintain an aircraft fleet of only Boeing 737s
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