INTRODUCTION AND OVERVIEW OF STRATEGIC MANAGEMENT(04.01.11)

INTRODUCTION AND OVERVIEW OF STRATEGIC MANAGEMENT(04.01.11)...

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Click to edit Master subtitle style 3/4/11 AN INTRODUCTION AND OVERVIEW OF
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3/4/11 DEFINITIONS OF STRATEGY 1. “Strategy is the determination of basic long term goals & objectives of an enterprise & the resources necessary for carrying out the goals.” - Chandler (1962) 2. “Strategy is the pattern of objectives, purpose these goals, stated in such a way, so as to define kind of company it is or it is to be.” - Kenneth Andrews (1965)
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3/4/11 5. “Strategy is the creation of a unique and valuable position involving a different set of activities. ” - Michael Porter (1996) 6. Strategy is the “the set of consistent behaviors by which the organization establishes for a time its place in its environment.” - Mintzberg (1998) 7. “A company’s strategy consists of the combination of employ to please customers, compete successfully achieve organizational objectives” 8. over the long term which achieves its advantages for the organization through its configuration of resources within a challenging environment to meet the needs
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3/4/11 FEATURES 1. Strategy relates the firm to its environment 2. Strategy is the right combination of factors 3. Strategy is a combination of actions 4. Strategy is forward looking with an orientation towards the future 5. Strategy may even involve contradictory action
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3/4/11 DIFFERENCE BETWEEN OPERATIONAL MANAGEMENT & STRATEGIC STRATEGIC MANGEMENT OPERATIONAL MANAGEMENT Ambiguity Complexity Non- routine Routine Organization- wide Fundamental Organization specific Environment or Resource driven
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3/4/11 DIMENSIONS OF STRATEGIC DECISIONS 1. Strategic Issues require top management decisions 2. Strategic Issues involve the allocation of large amounts of company resources 3. Strategic Issues are likely to have a significant impact on the long term prosperity of the firm 4. Strategic Issues are future oriented
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3/4/11 CHARACTERSTICS & FUNCTION OF STRATEGIES STRATEGIES ARE 1. Deliberate attempts by management to offset
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This note was uploaded on 03/03/2011 for the course MARKETING 101 taught by Professor Singh during the Spring '11 term at Management Development Institute.

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INTRODUCTION AND OVERVIEW OF STRATEGIC MANAGEMENT(04.01.11)...

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