MAN4720wk3 - MAN4720 StrategicManagement...

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MAN 4720:  Strategic Management  Week 3: Mission & Strategy Dr. Marshall Schminke Spring, 2010 These slides are intended to be a supplement to your class notes, not a replacement for them.   For specific references, etc., see me.
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Last time: Lecture Introduction to the course & strategic process Introduction to the Capstone team A brief tour of the syllabus Q: Why are we here? Elephants and roadmaps Labs Introduction to the lab groups Begin to form teams Better understanding of coming attractions
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Today - Week 3: Mission &  Strategy Lecture Mission and strategy Labs Finalize team formation Q&A regarding projects Hands-on exercise related to strategy How to find information (see the reference  folks!)
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The do’s and don’ts  of strategic analysis
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Strategic analysis made  EZ: Outlined in the syllabus… But a brief tour on the notes to reiterate  some of those points Be sure to look closely, and talk to your  instructors if unclear You really want to get this right
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Strategic analysis made  EZ: Mission SWOT Issues and problems Especially, sustainable competitive  advantage (SCA) (Hannibal had elephants) Strategies Fallout (the impact of the strategic  decisions have)
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Strategic analysis made  EZ: We’ll be refining that a little as we go But for now, think in those terms as you  look to Case 1, Case 2, and The Great  Capstone Case Competition
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Strategic analysis made  EZ: Mission SWOT Issues and problems Sustainable competitive advantage Strategies Fallout Case 1: Industry Analysis Case 2: Strategic Audit of specific firm
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The first question is:    What are we doing here?
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  What are we doing here? All firms have strategy.  The only decision is  whether you manage it, or simply back into it…
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What are we doing here? Strategic management Strategic planning & implementation Integration across functional areas
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What is strategy?  (Porter,  HBR , 1996) “A company can outperform its rivals only  if it can establish a difference it can  preserve”
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What is strategy?  (Porter,  HBR , 1996) It fell out of style  Hypercompetition rules  rate of technological, cultural changes were acting at such  a fast rate, there was no such thing as sustainable competitive advantage Rich Divney (Dartmouth) said Porters idea  cant work anymore Positioning is too static Everything is “copy-able” But it shouldn’t have Management tools have often taken the place  of strategy Operational effectiveness is important, but it  isn’t strategy  companies may not be as sustainable for as long, but we still have to carve out a place in the  market that competitors aren’t able to zoom in on…
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In the end, strategy is all  about prioritizing…
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That’s strategy… That’s what we are doing here
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