6721 mission students - Q&AfromDay1:Questionsabout...

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Today and coming attractions syllabus, readings, projects, resources?   The 10-K Integration Project You have a handout on this.  Let’s walk  through it briefly Case 1:  Industry analysis You have a handout on this one, too.  Let’s  walk through it as well. Mission, & begin external analysis
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Topic:  Mission
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Conversation:  What is Mission?
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Some definitions Some terminology: Mission vs. vision Goals and objectives Strategies and tactics
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Some definitions Mission vs. vision:   Current vs. future. Goals vs. objectives:   Both are targets .    Goals are general (#1 airline in America).   Objectives are specific, measurable, dated  (20% increase in sales by 2013). Strategies vs. tactics:   Both are actions .   Strategies are general (horizontal  diversification).  Tactics are specific (training  policies, debt structures).
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Strategic Mission Who are we and what do we do? Thoughts from Jack Welch at GE: (You can’t talk strategy without talking  Jack Welch) 
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Books by and about Jack Welch At Any Cost: Jack Welch, GE, and  the Pursuit of Profit (2011)  Winning (2010) Jack Welch (2010) Jack: Straight from the Gut (2009) Business the Jack Welch Way  (2008) Winning (2008) Jacked Up (2007) What Made Jack Welch JACK  WELCH (2007) The Secrets to GE’s Success  (2007) Jack Welch Speaks (2007) Jack Welch and The 4 E's of  Leadership (2005) Jack Welch on Leadership (2004) (2004) The Welch Way (2003) Jack: Straight from the Gut  (2003) 29 Leadership Secrets from Jack  Welch (2002) The Jack Welch Lexicon of  Leadership (2001) Get Better or Get Beaten (2001)
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Strategic Mission Who are we and what do we do? Thoughts from Jack Welch at GE: Note the “get out” theme.  Fits with  Good  to Great  (and other impactful books),  Peter Drucker, etc. If they can do it, anyone  can
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Mission: Differentiate mission statement (later  on) from strategic mission (this) Who we are, what we do, where we  do it Often reflects a company’s generic  strategy (aka strategic posture)  More to come on this It’s the corporate fingerprint: What  makes us unique?
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Differentiation Low Cost Broad Focus Porter’s generic strategies reflect a  firm’s basic strategic posture:
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Differentiation Low Cost Broad Focus Retrenchment Stability Growth Porter’s generic strategies reflect a  firm’s basic strategic posture:
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Differentiation Low Cost Broad Focus Retrenchment Stability Growth Pretty simple for cost vs. differentiation Porter’s generic strategies reflect a  firm’s basic strategic posture:
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This note was uploaded on 09/16/2011 for the course MAN 6721 taught by Professor Barringer during the Spring '08 term at University of Central Florida.

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6721 mission students - Q&AfromDay1:Questionsabout...

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