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Chapter 08, Strategic Management

Successful strategies are aligned with the

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Unformatted text preview: ont'd) Step 3 Identifying Opportunities and Threats Opportunities. Positive trends in the external environment. Threats. Negative trends in the external environment. THE STRATEGIC MANAGEMENT PROCESS (cont'd) Step 4 Analyzing the Organization's Resources and Capabilities Examine available resources in the organization. They may be financial, physical, human and intangible. Analyze core competencies major valuecreating skills, capabilities and resources that determine the organization's competitive weapons. THE STRATEGIC MANAGEMENT PROCESS (cont'd) Step 5 Identifying Strengths and Weaknesses Strengths. Activities the organization does well or any unique resource organization have. Weaknesses. Activities the organization does not do well or resources it needs but does not possess. SWOT Analysis. Analysis of the organization's strengths, weaknesses, opportunities, and threats THE STRATEGIC MANAGEMENT PROCESS (cont'd) Step 6 Formulating Strategies Formulate strategies at the corporate, business, and functional levels of the organization. Step 7 Implementing Strategies THE STRATEGIC MANAGEMENT PROCESS (cont'd) A strategy is only as good as its implementation. Step 8 Evaluating Results How effective have been these strategies. Have these helped the organization to meet its goals. what adjustment, if any, are necessary. CorporateLevel Strategy Determines: TYPES OF ORGANIZATIONAL STRATEGIES Top management's overall plan for the entire organization and its strategic business units. What businesses a company should be in or wants to be in. The direction that the organization is going. The role that each business unit will play. 1. 2. 3. TYPES OF ORGANIZATIONAL STRATEGIES Types of Corporate Strategies Growth. Expansion into new products and markets. Stability. Maintenance of the status quo. Renewal. Redirection of the firm into new markets to counter weaknesses. Types of Corporate Strategies Growth 1. 2. 3. 4. Concentration Vertical Integration (Forward, Backward) Horizontal Integration Diversification (Related, Non Related) Types of Corp...
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