BMGT364 Session 8 - Strategic Management Handouts_1

BMGT364 Session 8 - Strategic Management Handouts_1 - ©...

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Unformatted text preview: © Copyright 2010 BMGT 364: Management and Organizational Theory Spring 2011; Session 8 Strategic Management Department of Management & Organization © Copyright 2010 Does strategy matter? What is a sustainable competitive advantage? How to achieve a sustainable competitive advantage? Situational Analysis Five Forces Framework Positioning Strategies Red ocean vs. blue ocean strategies Importance of strategy Agenda © Copyright 2010 Strategic Planning Process © Copyright 2010 Core purpose To experience the emotion of competition, winning, and crushing competitors Envisioned future (BHAG) Crush Adidas Core purpose Improving the standard of living for people who could not otherwise afford Envisioned future (BHAG) Become $125 billion company by the year 2000 Vision - Core Purpose and Envisioned Future © Copyright 2010 • Strategy – An integrated “big picture” perception of how to achieve the organization’s vision. • Strategic Management – Management of the “big picture.” – Ongoing process of ensuring a competitively superior fit between an organization and its changing environment. Strategic Management = Strategic Planning + Implementation + Control Strategic Management © Copyright 2010 What is strategy? “Competitive strategy is about being different.” “Strategy is the creation of a unique and valuable position in your industry.” “Activities are the basic units of competitive advantage.” “Strategy is about combining activities.” “Strategy is about creating fit among a company’s activities.” “Strategy is choosing what not to do.” © Copyright 2010 Achieving a Sustainable Competitive Advantage Q: What does it take to achieve a sustained competitive advantage? A: A resource that is: Valuable Rare Unique Difficult to imitate Sources of competitive advantage Produce or process technology Protected or regulated markets Access to capital Economies of scale Your workforce (ideas, attitudes, behaviors) © Copyright 2010 Strategy that “fits” Situational Analysis Industry and competitive environment Company resources and capabilities Opportunities Threats Strengths Weaknesses Dynamic “fit” How to shape and adapt to market-based opportunities and threats? How to leverage resources and capabilities? © Copyright 2010 A Good SWOT Analysis is not a “Brainstorming” Exercise Fact- and logic-based assessment of the industry and competitive environment to determine O and T Fact- and logic-based assessment of a firm’s assets, resources, capabilities and market positions to determine S and W © Copyright 2010...
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This note was uploaded on 12/01/2011 for the course BMGT 364 taught by Professor Wellman during the Spring '08 term at Maryland.

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BMGT364 Session 8 - Strategic Management Handouts_1 - ©...

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