Chapter 8 - Chapter 8 Strategic Management Steven P....

Info iconThis preview shows pages 1–11. 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

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: Chapter 8 Strategic Management Steven P. Robbins Mary Coulter L E A R N I N G O U T L I N E 1) Discuss why strategic management is important 2) Describe the process of external analysis using both remote and industry environment information 3) Explain the role of resources, capabilities, and core competencies in internal analysis 4) Describe the process of internal analysis using mission statements as well as tangible, 1) Explain the three growth strategies and two renewal strategies 2) Discuss the BCG matrix and how its used 3) Describe the process of gap analysis using the concept of generic strategy and SWOT 4) I dentify ways companies can gain a competitive advantage 5) Discuss the implications of Strategy: Think-Pair-Share Why did you choose UT for your undergraduate education? What made UT different from and/or better than other schools? UT Website Definitions Strategy Plan/method for achieving goals Decisions/actions that determine organizations long-run performance Business Model Design for how a company plans to profit from its strategies Will customers value what company Will the company make any money at it? Exhibit 8.1 Exhibit 8.1 The Strategic Management Process Why is Strategy Important? 1. Results in higher organizational performance 2. Coordinates diverse organizational units, helping them focus on goals 3. Requires managers examine and adapt to changing business environment 4. I nvolved in managerial decision-making process Strategic Analysis Tools External Analysis (Opportunities/Threats) STEEP (remote environment) 5-Forces (industry environment) I nternal Analysis (Strengths/Weaknesses) Mission Statement Analysis Resource Based View (RBV) Decision Analysis SWOT External Analysis: STEEP (Laczniak & Lusch, 1986) S ocial T echnological E conomic E cological P olitical External Analysis: 5-Forces (Porter, 1980) 5-Forces Healthcare Example: Intensity of Competition I nsurance companies set rates, patients not price sensitive Hospitals very sensitive to patient volume fluctuations Low margins, slow industry growth, high fixed costs, high exit barriers Will aggressively pursue market share in highly 5-Forces Healthcare Example:...
View Full Document

This note was uploaded on 07/10/2011 for the course KIN 321M taught by Professor Jensen during the Spring '11 term at University of Texas at Austin.

Page1 / 37

Chapter 8 - Chapter 8 Strategic Management Steven P....

This preview shows document pages 1 - 11. Sign up to view the full document.

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