01c BUS 444 Chap 1

Some tangible benefits include attracting and

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Unformatted text preview: onmental and economic benefits for the communities in which we operate and for the company’s stakeholders, including shareholders. • Some tangible benefits include attracting and retaining our partners, customer loyalty, reducing operating costs, and creating a sustainable supply chain. 1-30 Strategic Management Perspective All managers and employees must: • Take an integrative, strategic perspective of issues facing the organization • Assess how functional areas and activities “fit together” to achieve goals and objectives 1-31 Three Types of Leaders • Local line leaders Have significant profit-and-loss responsibility • Executive leaders Champion and guide ideas, create a learning infrastructure, establish a domain for taking action 1-32 Three Types of Leaders (cont.) • Internal networkers Generate power through the conviction and clarity of their ideas 1-33 Coherence in Strategic Direction • Hierarchy of goals Goals ranging from those that are less specific yet able to evoke powerful and compelling mental images to those that are more specific and measurable • Vision, mission statement, strategic objectives 1-34 A Hierarchy of Goals 1-35 Coherence in Strategic Direction • Organizational vision Goal that is “massively inspiring, overarching, and long term” Represents a destination that is driven by and evokes passion 1-36 Why Do Visions Fail? • The walk doesn’t match the talk • Not the holy grail • An ideal future • Irrelevance irreconciled with the • Too much focus leads present to missed opportunities 1-37 Coherence in Strategic Direction • Mission statement Set of goals that include both the purpose of the organization, its scope of operations, and the basis of its competitive advantage • Has the greatest impact when it reflects an organization’s enduring, overarching strategic priorities and competitive positioning 1-38 Coherence in Strategic Direction • Strategic objectives Goals that are used to operationalize the mission statement Specific, measurable, appropriate, realistic, timely 1-39 Assignment • Read Chapter 2 • Work on your Class Project recommendation Prepare to discuss your Class Project idea with me on Thursday 1-40...
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