five questions 2
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DR.JASSOSLECTURESLIDESTHROUGHEXAMTWO-SPRING2020BUS1091.pdf
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• ENVIRONMENTAL SCANNING (GATHERING INFO) – EXTERNAL: OPPORTUNITIES AND THREATS
• NATURAL, SOCIETAL, INDUSTRY (TASK) – INTERNAL: STRENGTHS AND WEAKNESSES
• STRUCTURE – ORGANIZATIONAL • CULTURE – VALUES • RESOURCES – ASSETS AND COMPETENCIES
• STRATEGY FORMULATION (DEVELOPING PLANS) – MISSION, OBJECTIVES, STRATEGIES, POLICIES
• STRATEGY IMPLEMENTATION (PUTTING STRATEGY INTO ACTION) – PROGRAMS, BUDGETS, PROCEDURES
• EVALUATION AND CONTROL (MANAGEMENT) – MEASURING PERFORMANCE – RESULTS
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GUIDELINES FOR DECISION MAKING LINKING THE ‘FORMULATION’ OF STRATEGY WITH ITS
‘IMPLEMENTATION’
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1.AN ECONOMIC INSTITUTION 2.A HUMAN ORGANIZATION
3.AN EMBODIMENT OF VALUES
WE MEAN ALIGNMENT – ACHIEVED THROUGH STRATEGY, SHAPED BY GOALS,
DRIVEN BY MISSION, GROUNDED ON VALUES, SHAPED BY LEADERS, AND
IMPLEMENTED BY PEOPLE.
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Carroll’s Pyramid of Corporate Social Responsibilities
ECONOMIC Required
Be profitable. The Foundation on which all others rest
LEGAL Required
Obey the law. Law is society’s codification of right and wrong.
ETHICAL Expected
Obligation to do what is right and fair. Avoid doing harm.
PHILANTHROPIC Desired
Be good corporate citizens.
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1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
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SWOT OF MAYTAG ENTERING THE EU
THE SWOT BECOMES STRATEGY
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COMPARATIVE ADVANTAGE
MEASURED BY EFFICIENCY AND OPPORTUNITY COST
COMPETITIVE ADVANTAGE
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1. V 2. R 3. I 4. O
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Resources & Capabilities
Competitive Advantage Strategy
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• CAPABILITIES – EXPLOIT RESOURCES • GENERAL MANAGEMENT
• COMPETENCY – INTEGRATION OF CAPABILITIES • PRODUCT DEVELOPMENT
• CORE COMPETENCY – COLLECTION OF COMPETENCIES TRANSCENDING DIVISIONS • PRODUCT DEVELOPMENT AND DISTRIBUTION
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Unfortunately, investors don't reward senior managers for simply occupying and defending market positions. They look for evidence that the company can continually find new competitive advantages. To do that, managers need a corporate theory that explains how they can create value by combining the company's unique resources and capabilities with other assets. A good theory incorporates foresight about an industry's future, insight into which internal capabilities can optimize that future, and cross-sight into which assets can be configured to create value.
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A good theory incorporates foresight about an industry's
future, insight into which internal capabilities can optimize
that future, and cross-sight into which assets can be
configured to create value.
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ON WINNING
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WELCH'S ADVICE THAT WILL GUARANTEE YOU WILL WIN!
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COMPETITIVE ADVANTAGE
1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
• CAPABILITIES – EXPLOIT RESOURCES • GENERAL MANAGEMENT
• COMPETENCY – INTEGRATION OF CAPABILITIES • PRODUCT DEVELOPMENT
• CORE COMPETENCY – COLLECTION OF COMPETENCIES TRANSCENDING DIVISIONS
• PRODUCT DEVELOPMENT AND DISTRIBUTION
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ON COMPETITION
“COMPETITION IS ONE OF SOCIETY’S MOST POWERFUL FORCES FOR MAKING THINGS BETTER IN MANY FIELDS OF HUMAN ENDEAVOR…COMPETITION IS PERVASIVE, WHETHER IT INVOLVES COMPANIES CONTESTING MARKETS, COUNTRIES COPING WITH GLOBALIZATION, OR SOCIAL ORGANIZATIONS RESPONDING TO SOCIETAL NEEDS. EVERY ORGANIZATION NEEDS A STRATEGY IN ORDER TO DELIVER SUPERIOR VALUE TO ITS CUSTOMERS” - PORTER
COMPETITIVE ADVANTAGE
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Resources & Capabilities
Competitive Advantage Strategy
PORTER ON THE FIVE FORCES
• CAPABILITIES – EXPLOIT RESOURCES • GENERAL MANAGEMENT
• COMPETENCY – INTEGRATION OF CAPABILITIES • PRODUCT DEVELOPMENT
• CORE COMPETENCY – COLLECTION OF COMPETENCIES TRANSCENDING DIVISIONS • PRODUCT DEVELOPMENT AND DISTRIBUTION
1. V 2. R 3. I 4. O
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ON WINNING
• THE INNOVATIVE MANAGER
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• • • • • • WELCH'S ADVICE TO GRADUATES
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WE MEAN ALIGNMENT – ACHIEVED THROUGH STRATEGY, SHAPED BY GOALS,
DRIVEN BY MISSION, GROUNDED ON VALUES, SHAPED BY LEADERS, AND
IMPLEMENTED BY PEOPLE.
1.AN ECONOMIC INSTITUTION 2.A HUMAN ORGANIZATION
3.AN EMBODIMENT OF VALUES
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1. 2. 3. 4. INTERNAL CONSISTENCY
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1962 1977
1990 2001
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1. 2. 3. 4. 5.
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1.AN ECONOMIC INSTITUTION 2.A HUMAN ORGANIZATION
3.AN EMBODIMENT OF VALUES
WE MEAN ALIGNMENT – ACHIEVED THROUGH STRATEGY, SHAPED BY GOALS,
DRIVEN BY MISSION, GROUNDED ON VALUES, SHAPED BY LEADERS, AND
IMPLEMENTED BY PEOPLE.
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Using the Balanced Scorecard as a Strategic Management System by Robert S. Kaplan and David P. Norton
FINANCIAL HEALTH
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BALANCED SCORECARD (KAPLAN AND NORTON, 1996)
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Balanced Scorecard Overview
Balanced Scorecard
The strategy of the company
Financial Perspective
New indicator 1 The description of the indicators includes its details, description of measurement and initiatives. New indicator 2 The description of the indicators includes its details, description of measurement and initiatives. New indicator 3 The description of the indicators includes its details, description of measurement and initiatives.
Customer Perspective
New indicator 4 The description of the indicators includes its details, description of measurement and initiatives. New indicator 5 The description of the indicators includes its details, description of measurement and initiatives. New indicator 6 The description of the indicators includes its details, description of measurement and initiatives.
Internal Processes Perspective
New indicator 7 The description of the indicators includes its details, description of measurement and initiatives. New indicator 8 The description of the indicators includes its details, description of measurement and initiatives. New indicator 9 The description of the indicators includes its details, description of measurement and initiatives.
Education and Growth Perspective
New indicator 10 The description of the indicators includes its details, description of measurement and initiatives. New indicator 11 The description of the indicators includes its details, description of measurement and initiatives. New indicator 12 The description of the indicators includes its details, description of measurement and initiatives.
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Balanced Scorecard Target Balanced Score Card
Disney’s Balanced Score Card
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Nike’s Balanced Score Card
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Using the Balanced Scorecard as a Strategic Management System by Robert S. Kaplan and David P. Norton
