Bus 4970 Jean Loo-Nishizaki strategy slides revised, Fall 2017.pptx

Bus 4970 Jean Loo-Nishizaki strategy slides revised, Fall 2017.pptx

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BUS 4970 – Strategy Lecture, Fall 2017
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Strategy making and executing process Developing a strategic vision, mission and core values Setting objectives Crafting strategy to achieve objectives and vision Executing strategy Evaluating performance and initiating corrective adjustments
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Vision, mission, values & objectives Vision (aspirations for future; where we are going) Mission (scope and purpose of present business; who we are, what we do, and why we are here) Values (beliefs, traits, norms in conducting business) Objectives (performance targets; long-term and short term; financial objectives and strategic objectives; page 28)
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Procter & Gamble vision Provide branded products and services of superior quality and value that improve the lives of world's consumers, now and for generation to come. Consumers will reward us with leadership sales, profit and value creation, allowing our people, our shareholders and the communities in which we live and work to prosper
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Honest Tea’s Mission Statemen t “Honest Tea seeks to create and promote great-tasting, healthy, organic beverages. We strive to grow our business with the same honesty and integrity we use to craft our recipes, with sustainability and great taste for all.”
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Patagonia's mission and values Mission Statement: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. Core values: quality, integrity, environmentalism, not bound by convention
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Examples of Objectives Walgreens (increase revenue from $72 billion in 2012 to more than $130 billion in 2016; generate $1 billion in cost saving by 2016) PepsiCo (accelerate top line growth, build and expand better for you snacks and beverages and nutrition businesses)
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Strategy Set of actions taken to outperform competitors To achieve superior profitability To compete differently from rivals-doing what competitors don't do or doing what they can't do
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Crafting strategy Corporate strategy (how to gain advantage from managing a set of businesses)
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