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1_lecture_StrategyMission_handout

1_lecture_StrategyMission_handout - MBA 565 Strategic...

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MBA 565 Strategic Management September 9, 2013 MBA 565 1 / 1 MBA 565 2 / 1 What is STRATEGIC MANAGEMENT? Definition The set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives MBA 565 4 / 1 What is STRATEGY? Definition Large-scale, future-oriented plans for interacting with the competitive environment to achieve company’s objectives. Strategy levels: 1 Corporate Board, chief executive, administrative officers Use a portfolio approach by developing long-term plans (typically 3-5 years) 2 Business Business and corporate managers Translate the strategy generated at the C-level into concrete objectives and strategies for business divisions, SBUs 3 Functional Managers of product, geographic, functional areas MBA 565 5 / 1
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PPG strategy MBA 565 6 / 1 Different types of strategies Risk-averse Risk-neutral Risk-seeking Growth Strategies (concentration, diversification) Retrenchment Strategies (turnaround, divestment, liquidation) Stability Strategies (status quo, captive, pause, incremental) Collaborative strategies (resource sharing, JV) MBA 565 7 / 1 Strategy as a quest for sustainable competitive advantage (SCA) Sustainable competitive advantage Definition SCA occurs when buyers prefer its products or services over those of competitors and when the basis for this preference is durable.
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