戰(zhàn)略管理1(2)課件

12五月2024戰(zhàn)略管理1(2)MainIssuestobeCovered:Strategicmanagement--conceptenvironmentanalysis--externalandinternalstrategiesatdifferentlevelsstrategyformulationstrategyimplementationstrategyevaluationcasesChapter1StrategicManagementandintroductoryremarksChapterOutlineFiveTasksofStrategicManagementDevelopingaStrategicVisionandMissionSettingObjectivesCraftingaStrategyImplementingtheStrategyEvaluatingPerformanceandInitiatingCorrectiveAdjustmentsWhyStrategicManagementIsaProcessWhoPerformstheTasksofStrategy?Benefitsof“ManagingStrategically”TermstoRememberThinkingStrategically:

TheThreeBigStrategicQuestions1.Wherearewenow--whatisoursituation?2.Wheredowewanttogo?Business(es)wewanttobeinandmarketpositionswewanttostakeoutBuyerneedsandgroupswewanttoserveOutcomeswewanttoachieve3.Howwillwegetthere?WhatIsStrategy?CompetitivemovesandbusinessapproachesmanagementemploysinrunningacompanyManagement’s

“gameplan”

toPleasecustomersPositionacompanyinitschosenmarketCompetesuccessfullyAchievegoodbusinessperformanceCraftaStrategytoAchieveObjectivesSetObjectivesDevelopaStrategicVision&MissionImplement&ExecuteStrategyEvaluate&MakeCorrectionsImprove/ChangeReviseasNeededReviseasNeededImprove/ChangeRecycleasNeededTask1Task2Task3Task4Task5TheFiveTasks

ofStrategicManagementDevelopingaVisionandMissionBeginswiththinkingstrategicallyaboutThefirm’sfuturebusinessmakeupWheretotakethefirmThetaskistoCreatearoadmapofacompany’sfutureDecidewhatfuturebusinesspositiontostakeoutProvidelong-termdirectionGivethefirmastrongidentityMissionsvs.StrategicVisionsAmission

statementfocusesoncurrent(andpermanent)businessactivitiesBusiness(es)companyisinnowCustomerneedscurrentlybeingservedA

strategicvisionconcernsafirm’s

futurebusinesspath

ThekindofcompanyitistryingtobecomeCustomerneedstobesatisfiedinthefutureSampleMissionStatementSouthwestAirlines:ThemissionofSouthwestAirlinesisdedicationtothehighestqualityofCustomerServicedeliveredwithasenseofwarmth,friendliness,individualpride,andCompanySpirit.SettingObjectivesEstablishingOBJECTIVESConvertsvisionintospecificperformancetargetsCreatesyardstickstotrackperformancePushesfirmtobeinventive

and

focusedHelpspreventcoastingandcomplacency(self-satisfiedandnotaggressive)iftargetsrequirestretchTheSecondTaskofStrategicManagementTypesofObjectivesRequiredOutcomesfocusedonimprovingafirm’sfinancialperformanceOutcomesfocusedonimprovingafirm’scompetitivenessanditslong-termbusinesspositionFinancialObjectivesStrategicObjectives$Examples:FinancialObjectivesGrowearningspershare15%annuallyBoostannualreturnoninvestmentfrom15%to20%Increaseannualdividendspershare

tostockholdersby5%eachyearStriveforstockpriceappreciation

equaltoorabovethe500averageMaintainapositivecashflowAchieveandmaintainaAAbondratingExamples:StrategicObjectivesIncreasefirm’smarketshareOvertakekeyrivalsonqualityorcustomerserviceorproductperformanceAttainloweroverallcoststhanrivalsBoostfirm’sreputationwithcustomersAttainstrongerfootholdininternationalmarketsAchievetechnologicalsuperiorityBecomeleaderinnewproductintroductionsCaptureattractivegrowthopportunitiesCraftingaStrategyStrategyinvolvesdeterminingwhethertoConcentrateonasinglebusinessorseveralbusinesses(diversification)CatertoabroadrangeofcustomersorfocusonaparticularnicheDevelopawideornarrowproductlinePursueacompetitiveadvantagebasedonLowcostorProductsuperiorityorUniqueorganizationalcapabilitiesTheThirdTaskofStrategicManagementInvolvesdecidinghowtoRespondtochangingbuyerpreferencesOutcompeterivalsRespondtonewmarketconditionsGrowthebusinessoverthelong-termAchieveperformancetargetsOurstrategywillbe...CraftingaStrategyStrategyIsBothPlannedandReactive

toChangingCircumstancesActualStrategyPlanned(orIntended)StrategyAdaptiveReactionsTheHowsThat

DefineaFirm'sStrategyHowtogrowthebusinessHowtopleasecustomersHowtooutcompeterivalsHowtorespondtochangingmarketconditionsHowtomanageeachfunctionalpieceofthebusinessanddevelopneededorganizationalcapabilitiesHowtoachievestrategicandfinancialobjectivesStrategyisHOWto...UnderstandingCompanyStrategy--WhattoLookForPatternofActionsThatDefineStrategyActionstoStrengthenResources&CapabilitiesDiversificationResponsestoChangingConditionsOffensiveMovestoGainEdgeChangesinProductLine,Quality,orServiceGeographicCoverageForwardorBackwardIntegration,CollaborationHowFunctionalActivitiesAreManagedDefensiveMovesPursuingNewOpportunitiesStrategyExample:McDonald’sStrategicprioritiesContinuedgrowthProvidingexceptionalcustomercareRemaininganefficientandqualityproducerOfferinghighvalueandtastingproductsEffectivelymarketingMcDonald’sbrandonaglobalscaleCoreElementsof

McDonald’sStrategyAdd2500restaurantsannuallyPromotefrequentcustomervisitsviaattractivemenuitems,low-pricespecials,andExtraValueMealsBehighlyselectiveingrantingfranchisesLocateonsitesofferingconveniencetocustomersandprofitablegrowthpotentialFocusonlimitedmenuandconsistentqualityCarefulattentiontostoreefficiencyExtensiveadvertisinganduseofMcprefixHirecourteous(polite)personnel;payanequitablewage;providegoodtrainingCraftingStrategyIsan

ExerciseinEntrepreneurshipStrategy-makingisamarket-drivenandcustomer-drivenactivitythatinvolvesRisk-takingandventuresomenessInnovationandbusinesscreativityKeeneyeforspottingmarketopportunitiesKeenobservationofcustomerneedsChoosingamongalternativesCharacteristicsof

EntrepreneurialManagersBoldlypursuenewstrategicopportunitiesEmphasizeout-innovatingthecompetitionLeadthewaytoimprovefirmperformanceWillingtobeafirst-moverandtakerisksRespondquicklyandopportunisticallytonewdevelopmentsDeviseleadingstrategiesWhyDoStrategiesEvolve?ThereisalwaysanongoingneedtoreacttoShiftingmarketconditionsFreshmovesofcompetitorsNewtechnologiesEvolvingcustomerpreferencesPoliticalandregulatorychangesNewwindowsofopportunityThecrisisofthemomentWhatIsaStrategicPlan?Wherefirmisheaded--StrategicvisionandbusinessmissionActionapproachestoachievetargetedresults--AcomprehensivestrategyShortandlongtermperformancetargets--StrategicandfinancialobjectivesImplementingStrategyCreatingfitsbetweenwaythingsaredoneandwhatittakesforeffectivestrategyexecutionGettingtheorganizationtoexecutestrategyproficientlyandefficientlyProducingexcellent

results

inatimelymannerTheFourthTaskofStrategicManagementStrategyimplementationisaninternal,operations-drivenactivityinvolvingorganizing,budgeting,motivating,culture-building,supervising,andleadingto“makethestrategywork”asintended!StrategyImplementationWhatDoesStrategy

ImplementationInclude?BuildingacapableorganizationAllocatingresourcestostrategy-criticalactivitiesEstablishingstrategy-supportivepoliciesMotivatingpeopletopursueobjectivesTyingrewardstoachievementofresultsCreatingastrategy-supportivecorporatecultureInstallingneededinformation,communication,andoperatingsystemsInstitutingbestpracticesforcontinuousimprovementExertingstrategicleadership

EvaluatingPerformanceThetasksofstrategyarenot

aone-timeonlyexerciseTimesandconditionschangeEventsunfoldBetterwaystodothingsemergeNewmanagerswithdifferentideastakeoverTheFifthTaskofStrategicManagementEvaluatingPerformanceCorrectiveadjustmentsAlterlong-termdirectionRedefinethebusinessRaiseorlowerperformanceobjectivesModifythestrategyImprovestrategyexecutionCharacteristicsofthe

StrategicManagementProcessNeedtoperformtasksnevergoesawayBoundariesamongtasksareblurryStrategizingisnotisolatedfromothermanagerialactivitiesTimerequiredcomesinlumpsandspurtsThebigchallengeistogetthebeststrategy-supportiveperformancefromemployees,perfectcurrentstrategy,andimprovestrategyexecutionCraftaStrategytoAchieveObjectivesSetObjectivesDevelopaStrategicVision&MissionImplement&ExecuteStrategyEvaluate&MakeCorrectionsImprove/ChangeReviseasNeededReviseasNeededImprove/ChangeRecycleasNeededTask1Task2Task3Task4Task5TheFiveTasks

ofStrategicManagementStrategyIsBothPlannedandReactive

toChangingCircumstancesActualStrategyPlanned(orIntended)StrategyAdaptiveReactionsUnderstandingCompanyStrategy--WhattoLookForPatternofActionsThatDefineStrategyActionstoStrengthenResources&CapabilitiesDiversificationResponsestoChangingConditionsOffensiveMovestoGainEdgeChangesinProductLine,Quality,orServiceGeographicCoverageForwardorBackwardIntegration,CollaborationHowFunctionalActivitiesAreManagedDefensiveMovesPursuingNewOpportunitiesStrategicManagementPrincipleStrategy-makingisajobforlinemanagers,

not

astaffofplanners--doersshouldbethestrategy-makers!StrategicRoleofa

BoardofDirectorsContinuouslyauditvalidityofacompany’slong-termdirectionandstrategyEvaluatestrategicleadershipskillsoftheCEOandcandidatestosucceedtheCEOStrategicManagementPrincipleAboardofdirector’sroleinthestrategicmanagementprocessistocriticallyappraiseandultimatelyapprovestrategicactionplans,butrarely,ifever,todevelopthedetails!LevelsofStrategy-Making

CorporateStrategyBusinessStrategies(CompetitiveStrategy)FunctionalStrategiesOperatingStrategiesTwo-WayInfluenceTwo-WayInfluenceTwo-WayInfluenceCorporate-LevelManagersBusiness-LevelManagersOperatingManagersFunctionalManagersMainissuesofCorporateStrategyMovestoachievediversificationActionstoboostperformanceofindividualbusinessesCapturingsynergyamongbusinessunits

2+2=5effects!EstablishinginvestmentprioritiesandsteeringcorporateresourcesintothemostattractivebusinessunitsMainIssuesofBusinessStrategyFormingresponsestochangesinindustryandcompetitiveconditions,buyerneedsandpreferences,economy,regulations,etc.CraftingcompetitivemovesleadingtosustainablecompetitiveadvantageBuildingcompetitivelyvaluablecompetenciesandcapabilitiesCOMPETITIVESTRATEGYUnitingstrategicinitiativesoffunctionalareasAddressingstrategicissuesfacingthecompanyFunctionalStrategiesGameplanforastrategically-relevantfunction,activity,orbusinessprocessDetailshowkeyactivitieswillbemanagedProvidesupportforbusinessstrategySpecifyhowfunctionalobjectivesaretobeachievedOperatingStrategiesConcernnarrowerstrategiesformanaginggrassrootsactivitiesandstrategically-relevant

operatingunitsAdddetailtobusinessandfunctionalstrategiesbutoflesserscopeStrategicManagementPrincipleTobearealwinner,astrategymust(1)Fittheenterprise’ssituation(2)Buildsustainablecompetitiveadvantage(3)ImprovecompanyperformanceFactorsShapingthe

ChoiceofCompanyStrategyCompetitiveConditions&IndustryAttractivenessSocietal,Political,Regula