kjlPPT08 - 8th edition Steven P Robbins Mary Coulter Click...

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Click to edit Master subtitle style Chapter 8 Strategic Management 8th edition Steven P. Robbins Mary Coulter
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L E A R N I N G O U T L I N E 1) Discuss why strategic management is important 2) Describe the process of external analysis using both remote and industry environment information 3) Explain the role of resources, capabilities, and core competencies in internal analysis Describe the process of 5) Explain the three growth strategies and two renewal strategies 6) Discuss the BCG matrix and how it’s used 7) Describe the process of gap analysis using the concept of generic strategy and SWOT 8) Identify ways companies can gain a competitive advantage
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Strategy: Think-Pair-Share w Why did you choose UT for your undergraduate education? What made UT different from and/or better than other schools? UT Website
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Definitions w Strategy Plan/method for achieving goals Decisions/actions that determine organization’s long-run performance w Business Model Design for how a company plans to profit from its strategies
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Exhibit 8.1 The Strategic Management Process
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Why is Strategy Important? 1. Results in higher organizational performance 2. Coordinates diverse organizational units, helping them focus on goals 3. Requires managers examine and adapt to changing business environment 4. Involved in managerial decision-making process
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Strategic Analysis Tools w External Analysis (Opportunities/Threats) STEEP (remote environment) 5-Forces (industry environment) w Internal Analysis (Strengths/Weaknesses) Mission Statement Analysis Resource Based View (RBV) w Decision Analysis
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External Analysis: STEEP (Laczniak & Lusch, 1986) w S ocial w T echnological w E conomic w E cological w P olitical
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External Analysis: 5- Forces (Porter, 1980) Defines how “profit friendly” the industry is
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5-Forces Healthcare Example: Intensity of Competition w Insurance companies set rates, patients not price sensitive w Hospitals very sensitive to patient volume fluctuations Low margins, slow industry growth, high fixed costs, high exit barriers In Healthcare: Profit
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This note was uploaded on 10/27/2009 for the course MAN 04210 taught by Professor Loescher during the Spring '09 term at University of Texas.

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kjlPPT08 - 8th edition Steven P Robbins Mary Coulter Click...

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