Ch08_Daft_NEM_AISE

Ch08_Daft_NEM_AISE - 0 CHAPTER8 LearningObjectives 0...

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Strategy Formulation and Implementation CHAPTER 8 0
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2 Learning Objectives Define the components of strategic management. Describe the strategic planning process and SWOT analysis. Understand grand strategies for domestic and international  operations. Define corporate-level strategies and explain the portfolio  approach. 0
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3 Learning Objectives  (contd.) Describe business-level strategies, including Porter’s  competitive forces and strategies and partnership strategies. Explain the major considerations in formulating functional  strategies. Discuss the organizational dimensions used for implementing  strategy. 0
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4 Strategic Management Set of decisions and actions used to  implement strategies that will provide a  competitively superior fit between the  organization and its environment so as to  achieve organizational goals Responsibility = top managers and    chief executive 0
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5 Strategic Management Managers ask such questions as... What changes and trends are occurring? Who are our customers? What products or services should we  offer? How can we offer these products or  services most efficiently? 0
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6 Grand Strategy General plan of major action to achieve  long-term goals Falls into three general categories 1. Growth 2. Stability 3. Retrenchment A separate grand strategy can be defined for global operations 0
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7 Grand Strategy: Growth Growth can be promoted internally by  investing in expansion or externally by  acquiring additional business divisions - Internal growth = can include development of  new or changed products (expansion) - External growth = typically involves  diversification (acquisition of other businesses)  – businesses related to current product lines or  into new areas 0
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8 Grand Strategy:  Stability Stability, sometimes called a pause strategy,  means that the organization wants  to remain the same size or to grow slowly and in a controlled fashion 0
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9 Grand Strategy:  Retrenchment Retrenchment = the organization goes through a 
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