individual assignment

Learning outcomes

· Identify and understand key theories, models and frameworks underpinning strategic management.

· Critically evaluate information obtained by applying relevant strategic management theories, models and frameworks.

· Conduct strategic analysis by integrating various theories, models and frameworks while demonstrating critical and creative thinking.

· Collaborate to solve business cases using relevant theories, models and frameworks.

· Summarise and communicate analysis and recommendations in a professionally presented manner.

What is strategy

Strategy: An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage.

Strategy IS

PLAN

•

Direction, intended strategy, course of action into the future

•

A path to get from here to there

POSITION

•

Positioning oneself in the market: product/application, geography,

customer, practice

•

“Creation of a unique and valuable position“

PERSPECTIVE

•

An organization's fundamental way of doing things

•

Internal perspective

PLOY

•

Competitive maneuvering

•

Outwitting the competition

PROCESS

•

The process may be more important than the outcome

•

Strategy process as a learning tool

Outcome

Prodecure

Levels of strategy

Corporate strategy

“Which businesses

should we be in”

Business strategy

“Value creation & capture”

Operational / functional strategy

Marketing, operations, HR, innovation, etc...

Models of strategic decision making & analysis

20

Vision & Mission

Vision Mission

· A picture of • In which business does the firm

· What a firm wants to be want to compete

· What it wants ultimately to achieve

· Which customers does it want to

· An effective vision serve

· Stretches and challenges the organisation

· Reflects a firm’s values and aspirations

· Is enduring, despite changing environmental conditions

21

Some examples: Mission and Vision

Mission:

“

3

M is committed to actively contributing to sustainable development through

environmental protection, social responsibility, and economic progress.

”

“

to save people money so they can live better

”

“To

organize the world’s information and make it universally accessible and useful

”

Vision:

“

3

M products enhancing every home. 3M innovation improving every life.

”

“

Be the destination for customers to save money, no matter how they want to shop

”

“to provide access to the world's information in one click”

Typical elements of a strategy

Vision

Targets

(

financial & non

-

financial)

Strategic initiatives

Strategy	s	tatement
Market definition		Business model design

Mission

Values

Strategy statement: Example

HBR

Collis

&

Rukstad

(2008)

Next week

· The external environment

· Required reading: Chapter 2

· Required reading: Porter’s Five Forces that shape strategy • Don’t forget you preparation (poste a comment).