Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. ... The strategic management process involves analyzing cross-functional business decisions prior to implementing them.
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2. Strategic management
The strategic management process
Corporate strategies
Competitive strategies
Current strategic management issues
3. Strategic management
What is strategic management?
Strategic management
What managers do to develop the organization’s strategies.
Strategies
The plan for how the organization will do what in business and how it
will compete successfully, and how it will attract and satisfy its
customers in order to achieve its goals.
Business model
how a company is going to make money.
Why strategic management is important?
How it can make a difference in how well an organization perform.
It’s important has to do with the fact that managers face and
manage changes.
Its important because organizations are more complex.
4. The strategic management process
Step 1
Identifying the organization’s current mission, goals, and strategies.
Step 2
Doing an external analysis
PEST analysis
SWOT analysis
Step 3
Doing internal analysis
Step 4
Formulating strategies
Step 5
Implementing strategies
Step 6
Evaluating results
5. Corporate strategies
Corporate strategy
An organizational strategy that determines what businesses a company is in or wants to do
with those businesses.
Types of corporate strategy
Growth strategy
A corporate strategy that’s used when an organization wants to expand the
number of markets severed or products offered, either through its current
businesses or through new businesses.
Stability
A corporate strategy in which an organization continues to do what it is
currently doing.
Renewal
A corporate strategy designed to address declining performance.
corporate strategies management
BCG Matrix
A strategy tool that guides resource allocation decisions on the basis of
market share and growth rate
Stars
Cash cows
Question marks
dogs
6. Competitive strategies
Competitive strategy
An organizational strategy for how an organization will compete in its business.
Strategic business unit SBU
Role of competitive advantage
What sets an organization apart, its distinctive edge.
Quality as competitive advantage
Design thinking as competitive advantage
Social media as competitive advantage
Sustaining competitive advantage
Five forces model
Threat of new entrants
Threat of substitute
Bargaining power of buyers
Bargaining power of suppliers
Current rivalry
Choosing competitive strategy
7. Current strategic management
issues
The need for strategic leadership
The ability to anticipate, evasion, maintain flexibility, think
strategically, and work with others in the organization to initiate
changes that will create a viable and valuable future for the
organization.
Determining the organization’s purpose or vision
Exploiting and maintaining the organization's core competencies
Developing the organization human capital.
Creating and sustaining a strong organizational culture.
Creating and maintaining organizational relationship.
Reframing prevailing views by asking questions.
Emphasizing ethical organizational decisions and practices.
Establishing appropriately balanced organizational control.
8. The need for strategic flexibility
strategic flexibility is to recognize major external changes, to
quickly commit resources, and to recognize when a strategic
decision was a mistake.
Encourage leadership units by making sure everyone is on the
same page.
Keep resources fluid and move them as circumstances
warrant.
Have the right mind set to explore and understand issues and
challenges.
Know what’s happening wit strategies currently being used by
monitoring and measuring results.
Encourage employees to be open about disclosing and sharing
negative information's.
Get new ideas and perspectives from outside the
organization.
Learn from mistakes.
9. Important organizational strategies for today’s
environment
E-business strategies
Customer services strategies
Innovation strategies
First mover advantage