SHR 247 (BB.2)(1) - What is Strategic Management Structure...

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What is Strategic Management
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Structure of the class Common elements of successful strategies Strategic Management Process Vision Analyzing Strategy I/O Model RBV Model Stakeholders
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Strategy Common Elements in a successful strategy: The 3 Cases
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Task Read the three cases on: Madonna General Giap Lance Armstrong Contention that successful strategies are based on the following 4 factors: 1. Vision: Goals that are simple, consistent and long term 2. Analysis: Profound understanding of the competitive environment 3. Analysis: Objective appraisal of resources
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Common elements in successful strategies
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Success not attributable to superior resources Madonna – lacks outstanding talent as vocalist, musician and actress Military, human and economic resources of Vietnamese were dwarfed by that of the U.S. Armstrong had similar attributes to other pro cyclists but also had cancer! Contention that each of these three successes are due to the presence of soundly formulated and effectively implemented strategy.
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Understanding of the ‘game’ and an awareness of how to manoeuvre into a position of competitive advantage. Madonna – based on multimarket strategy, where she has positioned herself as a style leader with constant image renewal General Giap – Beat the French then the US through strategy of protracted war of limited engagement. Lance Armstrong – domination of the Tour de France from 1999 to 2005 was because he and his team did the most effective job of analyzing the requirements for success in the race, developing a strategy around those requirements and executing it almost faultlessly.
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1. Vision: Goals that are simple, consistent and long term Madonna – relentless drive for stardom North Vietnamese efforts were unified and focused on the goal of a unified communist Vietnam and expelling a foreign army (contrast to the U.S.). On his return to professional cycling in 1998, Lance Armstrong committed to a single goal: winning the Tour de France.
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2. Analysis: Profound understanding of the competitive environment Madonna’s shrewd understanding of the ingredients of stardom and basis of popular appeal. Giap understood his army, his enemy and battlefield conditions. Lance Armstrong and team director Johan Bruyneel took analysis of the requirements for success in the Tour de France to unprecedented levels of detail and sophistication.
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3. Analysis: Objective appraisal of resources Madonna positioned herself as a star and exploited her abilities to develop and protect her image. Her live performances also relied on large team of dancers Giap protected his army’s defences in arms and equipment while exploiting the commitment and loyalty of his troops Armstrong’s campaign to win the Tour de France was based on two key strengths: unmatched determination to win and superior team-building capability.
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4. Strategy in Action: Effective implementation Without effective implementation, the best laid strategies are of little use. Critical to all 3 people was their capability to
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This note was uploaded on 01/08/2012 for the course BUSINESS SHR 247 taught by Professor Willgeo. during the Fall '11 term at Syracuse.

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SHR 247 (BB.2)(1) - What is Strategic Management Structure...

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