SPD4251_BPS_-_Lecture_2_SV

SPD4251_BPS_-_Lecture_2_SV - PEED – Bachelor of Arts in...

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Unformatted text preview: PEED – Bachelor of Arts in Business (General Mgt/Finance/IB) Subject Lecturer: Macy Wong Meeting 2 SPD4251 Business Policy and Strategy 2 A. Today’s Class Meeting ¡ Intended versus Realized Strategies ¡ Key Personnel involved in Strategic Management ¡ Coherence in Strategic Direction ¡ Organizational Visions, Mission Statements and Objectives 3 Intended versus Realized Strategies 4 Intended vs Realized Strategies ¡ Henry Mintzberg proposed an alternative model of strategy development. Adapted from Exhibit 1.2 Realized Strategy and Intended Strategy: Usually Not the Same Source: H. Mintzberg and J. A. Waters, “Of Strategies, Deliberate and Emergent,” Strategic Management Journal 6 (1985), pp. 257-72. 5 ¡ Intended strategy : strategy in which organizational decisions are determined only by analysis. \ For a variety of reasons, the intended strategy rarely survives in its original form. \ Unforeseen environmental developments, unanticipated resource constraints, or changes in managerial preferences may result in at least some parts of the intended strategy remaining unrealized . 6 ¡ Good managers will want to take advantage of a new opportunity presented by the environment, even if it was not part of the original set of intentions. ¡ The final realized strategy of any firm is a combination of deliberate and emergent strategies . \ Realized strategy: in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/or changes in managerial preferences. \ Emergent strategy comes about through everyday routines, activities and processed in organizations leading to decisions that become the long-term direction of an organization. 7 A Company’s Strategy Is a Blend of Planned Initiatives and Unplanned Reactive Adjustments 8 Group Discussion 9 Question ¡ The final realized strategy of a firm is a combination of: a) Intended and unrealized strategies b) Unrealized and emergent strategies c) Emergent and deliberate strategies d) Deliberate and unrealized strategies 10 Key Personnel Involved in Strategic Management 11 Strategic Management Perspective ¡ Integrative view of the organization ¡ Assess how functional areas and activities “ fit together ” to achieve goals and objectives ¡ All managers and employees must take and integrative, strategic perspective of issues facing the organization 12 Enhancing Employee Involvement ¡ Have significant profit and loss responsibility Local Line Leaders 13...
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SPD4251_BPS_-_Lecture_2_SV - PEED – Bachelor of Arts in...

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