carpenter_ppt_ch01FinalVersion-1

carpenter_ppt_ch01FinalVersion-1 - Chapter1 CONFIDENTIAL...

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

View Full Document Right Arrow Icon
CONFIDENTIAL Document Date This report is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside the client organization without prior written approval from McKinsey & Company. This material was used by McKinsey & Company during an oral presentation; it is not a complete record of the discussion. INTRODUCING STRATEGIC MANAGEMENT Chapter 1
Background image of page 1

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

View Full DocumentRight Arrow Icon
OBJECTIVES 1 2 3 4 Understand why we study strategic management Describe the determinants of competitive advantage Understand the relationship between strategy formulation and implementation Understand what a strategy is and identify the difference between business-level and corporate- level strategy
Background image of page 2
THREE OVERARCHING THEMES Implementing a good strategy is at least as important as creating one, yet many managers give too little thought to implementation Strategic leadership is responsible for strategy formulation Also plays key roles in strategy implementation : making substantive resource allocation decisions developing key- stakeholder support for the strategy We need to see a firm’s competitive position, not as a snapshot, but as an ongoing movie Firms and industries are dynamic in nature To succeed, the formulation of a good strategy and its implementa- tion should be inextricably connected Strategic leader- ship is essential if a firm is able to both formulate and imple- ment strategies that create value Under Armour example highlights dynamic nature of industries: Successful strategy is product of many big (and small) decisions made over time Distinctive competencies that are key to Under Armour success were developed over time Nike and addidas didn’t just sit by; Nike developed ts own line of compression performance sports apparel
Background image of page 3

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

View Full DocumentRight Arrow Icon
STRATEGIC MANAGEMENT AND STRATEGY Strategic management is the process by which an organization manages the formulation and implementation of its overall strategy Formulation involves figuring out the overall strategy Implementation involves getting everyone in the organization to do the things that support the overall strategy What is a strategy? A strategy is the overarching means by which an organization seeks to achieve its goals and objectives Strategic leaders (e.g., CEOs) are the key players in strategy formulation and implementation But a significant part of an organization’s overall strategy often emerges from the decisions and actions of lower level managers
Background image of page 4
STRATEGY Military General Lower level officer (e.g., supply logistics infantry, heavy armored vehicles) Holistic “big picture” Tactical details The term strategy comes from the Greek word Strategos: “the (military) general’s view”
Background image of page 5

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

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/13/2010 for the course MANAGEMENT 4720 taught by Professor Quinn during the Spring '10 term at College of Management.

Page1 / 21

carpenter_ppt_ch01FinalVersion-1 - Chapter1 CONFIDENTIAL...

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