kjlPPT09 - 11th edition Steven P. Robbins Mary Coulter...

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Chapter 9 Strategic Management 11th edition Steven P. Robbins Mary Coulter
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L E A R N I N G O U T L I N E 1) Discuss why strategic management is important 2) Describe the strategic management process and the role of mission/goals 3) Describe external analysis using both remote and industry environment information 4) Describe internal analysis using RBV (tangible, intangible, organizational capabilities of the firm) 5) Explain the components a resource/capability must have to create a sustainable competitive advantage 6) Explain the 3 growth strategies and 2 renewal strategies 7) Discuss the BCG matrix 8) Describe the process of gap analysis using SWOT 9) Identify ways companies can gain a competitive advantage using generic strategies and why companies must choose only one generic strategy 10) Discuss how functional levels in the organization will reflect business-level strategies 11) Discuss implications of dynamic and uncertain
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Strategy: Think-Pair-Share w Why did you choose UT for your undergraduate education? What made UT different from and/or better than other schools? UT Website
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Definitions w Strategy Noun =plan for achieving goals How firm will compete How firm will attract/satisfy its customers Verb =decisions/actions that determine organization’s performance w Business Model Design for how a company plans to profit from its strategies
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Why is Strategy Important? 1. Results in higher organizational performance 2. Coordinates diverse organizational units, helping them focus on goals 3. Requires managers examine and adapt to changing business environment 4. Drives managerial decision-making process
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Clicker Question w Which of the following do you consider the most important strategy for your success this semester? A. Studying 2x class hours each week B. Attending every class C. Starting papers/projects early D. Completing all assigned readings E. Decreasing or minimizing play/party/sleep time
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Exhibit 8.1 The Strategic Management Process
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Organizational Mission and Goals w Mission: Statement of organization’s purpose The scope of its products and services Examples: UT, Seton, 3M
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Organizational Mission and Goals w Goals: Measurable performance targets Foundation for further planning Example: McCombs School
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kjlPPT09 - 11th edition Steven P. Robbins Mary Coulter...

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