Chap02 - 2-1The Managerial Process of The Managerial...

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Unformatted text preview: 2-1The Managerial Process of The Managerial Process of Crafting and Executing Strategy Crafting and Executing Strategy 22ChapterIf you dont know where you If you dont know where you are going, any road will take are going, any road will take you there.you there.The KoranManagements job is not to see the company as it is . . . but as it can become.John W. Teets2-3Chapter RoadmapChapter RoadmapWhat Does the Process of Crafting and Executing Strategy Entail?Developing a Strategic Vision: Phase 1of the Strategy-Making, Strategy-Executing ProcessSetting Objectives: Phase 2of the Strategy-Making, Strategy-Executing ProcessCrafting a Strategy: Phase 3of the Strategy-Making, Strategy-Executing ProcessImplementing and Executing the Strategy: Phase 4of the Strategy-Making, Strategy-Executing ProcessInitiating Corrective Adjustments: Phase 5of the Strategy-Making, Strategy-Executing ProcessCorporate Governance: The Role of the Board of Directors in the Strategy-Making, Strategy-Executing Process2-4Fig. 2.1: The Strategy-Making, Fig. 2.1: The Strategy-Making, Strategy-Executing ProcessStrategy-Executing Process2-5Developing a Strategic VisionDeveloping a Strategic VisionInvolves thinking strategicallyaboutFuturedirection of companyChangesin companys product-market-customer-technology to improveCurrent market positionFuture prospectsPhase 1 of the Strategy-Making ProcessPhase 1 of the Strategy-Making ProcessA strategic visionis a road map showing the route a company intends to take in developing and strengthening its business. It paints a picture of a companys destination and provides a rationale for going there. 2-62-7Delineates managements aspirations for the business Charts a strategic path for the futureWhere are we going?Steers energies of employeesin a common direction Molds organizational identityIs distinctiveand specificto a particular organizationAvoids use of generic languageTriggers strong emotionsIs challenging, uncomfortable, nail bitingKey Elements of aKey Elements of aStrategic VisionStrategic Vision2-82-92-10Examples of Strategic VisionsExamples of Strategic VisionsRed Hat LinuxTo 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 06/10/2008 for the course GEB GEB 4890 taught by Professor Geiger during the Summer '08 term at University of South Florida - Tampa.

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Chap02 - 2-1The Managerial Process of The Managerial...

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