Management Lecture Ch 8_5th Ed

Management Lecture Ch 8_5th Ed - CHAPTER EIGHT THE MANAGER...

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CHAPTER EIGHT THE MANAGER AS A PLANER AND A STRATEGIST OVERVIEW OF THE CHAPTER In an uncertain competitive environment, managers must engage in thorough planning to find strategies that will help their organization to compete effectively. This chapter explores the manager’s role as both planner and as strategist. It discusses various elements of the planning process, different kinds of plans, strategy formulation, and the challenge of strategy implementation. This chapter also contains a detailed explanation of SWOT analysis and Michael Porter’s business level strategies. LEARNING OBJECTIVES 1. Identify the three main steps of the planning process and the relationship between planning and strategy. 2. Describe some techniques managers can use to improve the planning process so they can better predict the future and mobilize organizational resources to meet future contingencies. 3. Differentiate between the main types of business-level strategy and explain how they give an organization a competitive advantage that leads to superior performance. 4. Differentiate between the main types of corporate-level strategies and explain how they are used to strengthen a company’s business-level strategy and competitive advantage. 5. Describe the vital role managers play in implementing strategies to achieve an organization’s mission and goals. A MANAGER’S CHALLENGE : Can Mattel’s Planners Help Barbie Compete with Bratz? When MGA Entertainment introduced the Bratz doll, Mattel was totally unprepared. The designers and marketers behind the Bratz line invested a great deal of time and money to discover what the new generation of girls wanted. This careful planning paid off and Bratz soon became a serious competitor to Barbie. Mattel planners, in serious trouble and under tremendous pressure, made some extreme changes in the Barbie brand, but most came too late to revive sales. Mattel also quickly introduced two new product lines. Its “My Scene” line of dolls were obvious imitations of Bratz dolls and its “Flava” line was designed to appeal to very young girls. However both lines flopped completely. The company’s stock price has dropped tremendously and analysts wonder if Mattel’s managers will be able to find new strategies to reverse its decline in doll sales. LECTURE OUTLINE I. PLANNING AND STRATEGY Planning is a process that managers use to identify and select appropriate goals and courses of action for an organization. Jones, Contemporary Management, Fifth Edition 173
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CHAPTER EIGHT THE MANAGER AS A PLANER AND A STRATEGIST The organizational plan that results from the planning process details how managers intend to attain those goals. The cluster of decisions and actions that managers take to help an organization attain its goals is its strategy . . Planning is a
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Management Lecture Ch 8_5th Ed - CHAPTER EIGHT THE MANAGER...

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