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Chap02 - Chapter 2 The Managerial Process of Crafting and...

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2-1 The  Managerial  Process  of   The  Managerial  Process  of   Crafting  and  Executing  Strategy  Crafting  and  Executing  Strategy  2 2 Chapter
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If you don’t know where you  If you don’t know where you  are going, any road will take  are going, any road will take  you there.” you there.” The Koran “Management’s job is not to  see the company as it is . . .  but as it can become.” John W. Teets
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2-3 Chapter  Roadmap Chapter  Roadmap 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
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2-4 Fig. 2.1:  The  Strategy-Making,   Fig. 2.1:  The  Strategy-Making,   Strategy-Executing  Process Strategy-Executing  Process
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2-5 Developing  a  Strategic  Vision Developing  a  Strategic  Vision Involves thinking strategically about Future direction of company Changes in company’s product-market- customer-technology to improve Current market position Future prospects Phase  1  of  the  Strategy-Making  Process Phase  1  of  the  Strategy-Making  Process A strategic vision is a road map showing the route a company intends to take in developing and strengthening its business. It paints a picture of a company’s destination and provides a rationale for going there.
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2-6
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2-7 Delineates management’s aspirations for the business – Charts a strategic path for the future “Where are we going?” Steers energies of employees in a common direction Molds organizational identity Is distinctive and specific to a particular organization Avoids use of generic language Triggers strong emotions Is challenging, uncomfortable, nail biting Key  Elements  of  a Key  Elements  of  a Strategic  Vision Strategic  Vision
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2-8
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2-9
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2-10 Examples  of  Strategic  Visions Examples  of  Strategic  Visions Red Hat Linux 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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