Chap01 - 1-1What Is Strategy andWhat Is Strategy andWhy Is...

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Unformatted text preview: 1-1What Is Strategy andWhat Is Strategy andWhy Is It Important?Why Is It Important?11Chapter““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 Kami1-3Chapter RoadmapChapter RoadmapWhat Is Strategy?Identifying a Company’s StrategyStrategy and the Quest for Competitive AdvantageStrategy Is Partly Proactive and Partly ReactiveStrategy and Ethics: Passing the Test of Moral ScrutinyThe Relationship Between a Company’s Strategy and Its Business ModelWhat Makes a Strategy a Winner?Why Are Crafting and Executing Strategy Important?1-4Thinking Strategically:Thinking Strategically:The Three Big Strategic QuestionsThe Three Big Strategic Questions1.Where are we now?2.Where do we want to go?Business(es) to be in and market positions to stake outBuyer needs and groups to serveOutcomes to achieve3.How will we get there?A company’s answer to “how will we get there?” is its strategy1-5What Is Strategy?What Is Strategy?Consists of the combinationof competitive movesand business approachesused by managers to run the companyManagement’s “game plan”toAttract and please customersStake out a market positionCompete successfullyGrow the businessAchieve targeted objectives1-6Howto please customersHowto respond to changing market conditionsHowto outcompete rivalsHowto grow the businessHowto manage each functional piece of the business and develop needed organizational capabilitiesHowto achieve strategic and financial objectivesStrategyis HOWto . . .The The HowsHows That ThatDefine a Firm's Strategy Define a Firm's Strategy 1-7What Are a Company’s Strategic What Are a Company’s Strategic Choices? Choices?Trial-and-error organizational learning aboutWhat has worked andWhat has not workedManagement’s appetite for taking risksManagerial analysis and strategic thinking about how best to proceed, given prevailing circumstancesStrategic choicesare based on . . .1-8Key Elements:Key Elements:Southwest Airlines’ StrategySouthwest Airlines’ StrategyGrow the business by gradually adding more flights on existing routes and initiating service to new airportsMake friendly service a company trademarkMaintain an aircraft fleet of only Boeing 737sEncourage customers to make reservations and purchase tickets at the company’s Web siteAvoid flying into congested airports...
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This note was uploaded on 06/10/2008 for the course GEB GEB 4890 taught by Professor Geiger during the Summer '08 term at University of South Florida.

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Chap01 - 1-1What Is Strategy andWhat Is Strategy andWhy Is...

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