Wk 9 SM Competitive Strategies vs organizational analysis

Wk 9 SM Competitive Strategies vs organizational analysis -...

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SM, Competitive Strategies vs organizational analysis (Spanning chapter 1, 3 and 5)
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Strategic Management Strategic management is the study of why some firms outperform others 1. How to compete in order to create competitive advantages in the marketplace 2. How to create competitive advantages in the market place o Unique and valuable o Difficult for competitors to copy or substitute
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Strategic Management Analysis Strategic goals (vision, mission, strategic objectives) Internal and external environment of the firm Strategic decisions What industries should we compete in? How should we compete in those industries? Actions Allocate necessary resources Design the organization to bring intended strategies to reality
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Strategic Analysis Starting point in the strategic management process Precedes effective formulation and implementation of strategies
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Strategic Analysis (cont.) Clear goals and objectives permit effective allocation of resources Hierarchy of goals Vision Mission Strategic objectives Analyzing external environments Managers must scan the environment and analyze competitors General environment Industry environment
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Strategic Analysis (cont.) Frameworks for analyzing a firm’s internal environment Strengths Weaknesses Analyzing strengths can uncover potential sources of competitive advantage, to take advantages of opportunities in the commercial environment, at the same time be alert of and avoid threats vis-a-vis weaknesses.
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The Limitations of SWOT Analysis Strengths may not lead to an advantage SWOT’s focus on the external environment is too narrow SWOT gives a one-shot view of a moving target SWOT overemphasizes a single dimension of strategy – must beware other dimensions such as wealth creation by intellectual assets and networks among stakeholders are sources of competitive advantage.
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Strategic Analysis (cont.) Intellectual assets are drivers of Competitive advantage Wealth creation Networks and relationships among Employees Customers Suppliers Alliance partners
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This note was uploaded on 11/21/2010 for the course BBA ECON 4131 taught by Professor Profwong during the Spring '10 term at HKU.

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Wk 9 SM Competitive Strategies vs organizational analysis -...

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