BusinessPolicyNotes01

- Strategy in Action Chapter 1 8 STRATEGIC MANAGEMENT Lecture 1 Dr John Kraft Opening Case 3 3 2 Opening Case Company's Business Model A business

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Strategy in Action Chapter 1 8 STRATEGIC MANAGEMENT Lecture 1 Dr. John Kraft Opening Case 3 , 3 2 Opening Case Company's Business Model A business model encompasses how the company will: Managemenfs model of how strategy will allow the company to gain competitive advantage and achieve superior profitability I·~ Select its customers Define and differentiate its product offerings Create value for its customers Acquire and keep customers Produce goods or services Deliver those goods and services to the mar1<et Organize activities within the company Configure its resources Achieve and sustain a high level of profitability Grow the business over time 3 3 3 • Mission Statement .:.A description or declaration of why a company is in operation ·:·Provides the framework or context within which strategies are fonnulated ·:·Has 3 main components: • Mission or vision • Values or guiding standards that drive and shape the actions and behavior of employees • Major goals or objectives 3 5 9 External and Internal Analysis ·:·External analysis • Identify strategic opportunities and threats • Industry environment • National environment » Socioeconomic or macroenvironment ·:·Internal analysis » Identify organizational strengths and weaknesses » Sources of competitive advantage: superior efficiency, quality, innovation, and resDonsiveness to customers ~~~~~~~~19 3 • 1 Abell's Framework-Defining the Business Film - Dell and FedEx 3 7 l·m:I 3 • The Five Steps of the Strategy Making Process <D Select the corporate vision, mission, a.nd yalues and the major corporate goals and objectives. <Z> Analyze the external competitive environment to identify opportunities and threats. ® Analyze the organization's internal environment to identify its strengths and weaknesses. @ Select strategies that: Build on the organization's strengths and correct its weaknesses- in order to lake advantage of external opportunities and counter external threats Are consistent with organization's vision, mission. a.nd values and major goals and objectives Are congruent and constitute a viable business model Strategy in Action Strategic Planning at M icrosoft • A rat's nest of inoompatlble planning approaches used by the different units and divisions ....• 3 • 3 10 Emergent and Deliberate Strategies Strategy in Action A Strategic Shift at M icrosoft 3 " . ·v ·...•~.'C " Realized < ·strategy .~~ ...!!~.~,;_,~#h!tJ:' Unrealized Emergent strategy strategy Plan.ned strategy; .... '·_ A 2 10 Autonomous Action at 3M Strategic Leadership ':'Vision, eloquence, and consistency ':'Commitment ':'8eing well informed ·:·Willingness to delegate and empower .:.The astute use of power ':'Emotional intelligence Major Goals and Objectives ·:·Goal: A desired future state or objective ·:·Four main characteristics of well- constructed goals: • Precise and measurable • Address crucial issues • Challenging but realistic • Specify a time period Emotional Intelligence...
View Full Document

This note was uploaded on 05/12/2010 for the course MAN 6721 taught by Professor Kraft during the Spring '10 term at University of Florida.

Page1 / 32

- Strategy in Action Chapter 1 8 STRATEGIC MANAGEMENT Lecture 1 Dr John Kraft Opening Case 3 3 2 Opening Case Company's Business Model A business

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online