CH6 MLR465 - STRATEGIC MANAGEMENT & BUSINESS...

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Unformatted text preview: STRATEGIC MANAGEMENT & BUSINESS POLICY Strategy formulation- concerns developing a corporations mission, objectives, strategies and policies Situation Analysis- the process of finding a strategic fit between external opportunities and internal strengths while working around external and internal weaknesses 6-2 6-3 SWOT- S trengths- W eaknesses- O pportunities- T hreats Strategy= opportunity/capacity Opportunity has no real value unless a company has the capacity to take advantage of that opportunity 6-4 Criticisms of SWOT analysis Generates lengthy lists Uses no weights to reflect priorities Uses ambiguous words and phrases Same factor can be in 2 categories No obligation to verify opinion with data or analysis Requires only a single level of analysis No logical link to strategy implementation 6-5 Generating a Strategic Factors Analysis Summary (SFAS) Matrix SFAS summarizes an organizations strategic factors by combining the external factors from the EFAS Table with the internal factors from the IFAS Table 6-6 6-7 Finding a Propitious Niche Propitious niche- where an organization can use its core competencies to take advantage of a particular market opportunity and the niche is just large enough for one firm to satisfy its demand Strategic sweet spot- a company is able to satisfy customers needs in a way that rivals cannot Strategic window- a unique market opportunity that is available for a particular time 6-8 6-9 Review of Mission and Objectives A re-examination of an organizations current mission and objectives must be made before alternative strategies can be generated and evaluated Performance problems can derive from inappropriate (narrow or too broad) mission statements and objectives 6-10...
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CH6 MLR465 - STRATEGIC MANAGEMENT & BUSINESS...

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