general motors
majedalam
introchapter1.pptxWhat is a case?
The case approach to strategic analysis, is, first and foremost, an exercise in learning by doing.
Cases provide detailed information about the conditions and problems of different industries and companies, requiring you to apply the tools and techniques of strategic management to come up with pragmatic managerial action plans to deal with the issues at hand.
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Preparing a Case for Class Discussion
Skim the case rather quickly to get an overview of the situation it presents.
Read the case thoroughly to digest the facts and circumstances.
Carefully review all the information presented in the exhibits.
Decide what the strategic issues are.
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Preparing a Case for Class Discussion
Start analysis of issues with some number/data crunching.
Apply the concepts and techniques of strategic analysis you have been studying.
Check out conflicting opinions and make some judgments about the validity of all the data and information provided.
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Preparing a Case for Class Discussion
Support your diagnosis and opinions with reasons and evidence.
Develop an appropriate action plan and set of recommendations.
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Preparing a Case for Class Discussion
10. Be creative and artful in doing so!
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Preparing a Case for Class Discussion
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Read
Analyze
Recommend
The Alaska Gold Mine
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What is strategic management?
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https://www.youtube.com/watch?v=TD7WSLeQtVw
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Strategic management process
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Learning Objectives: Chapter 1
Learn what strategic management is
Learn what is meant by each of the 5 Ps of strategy
Understand realized strategies and how they are influenced by intended, deliberate, and emergent strategies
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What is strategic management?
Examines how actions and events involving top executives (such as Steve Jobs), firms (Apple), and industries (the tablet market) influence a firm’s success or failure
Formal tools that exist for understanding these relationships are not enough
Creativity is just as important to strategic management
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Defining Strategy – The Five Ps
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A business model should be a central element of a firm’s strategic plan. A business model describes the process through which a firm hopes to earn profits.
Plans are important at the individual level too.
He who fails to plan, plans to fail.
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Defining Strategy – The Five Ps
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For example, a grocery chain might threaten to expand a store, so that a competitor doesn't move into the same area; or a telecommunications company might buy up patents that a competitor could potentially use to launch a rival product.
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Defining Strategy – The Five Ps
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Rindova, Ferrier, & Wiltbank (2010) found that firms can gain competitive advantage through patterns (i.e. properties of sequences) of their competitive moves.
Investors were found to respond favorably to certain patterns.
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Defining Strategy – The Five Ps
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Different positions within an industry offer different opportunities and constraints. An awareness of a firm’s position is essential to successful strategy formulation and implementation.
Defining Strategy – The Five Ps
CEOs, executives, and top management teams can be very diverse with different knowledge bases, experiences, personalities, and values. These differences can lead them to interpret the competitive landscape differently (field of vision), which in turn can lead to different strategic outcomes.
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5 P’s of Strategy
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Strategies
Intended strategies: Strategy that an organization hopes to execute
Deliberate strategy: The parts of the intended strategy that an organization continues to pursue over time
Emergent strategies: Unplanned strategy that arises in response to unexpected opportunities and challenges
Realized strategies: The strategy that an organization actually follows. They are a product of both intended and realized strategies
Non-realized strategy: The parts of the intended strategy that are abandoned
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Strategies
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Strategies
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Strategies
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Intended, Deliberate, and Realized Strategy
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History of Strategic Management
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“So I took the wise and experienced leaders of your tribes, and I made them your leaders. I appointed commanders over a thousand people, over a hundred people, over fifty people, and over ten people and made them officers over your tribes.” (Deuteronomy 1:15).
“But how can I bear your problems and your burdens and your disputes all by myself?” (Deteronomy 1:12).
History of Strategic Management
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The Art of War is an ancient Chinese military treatise attributed to Sun Tzu, a high-ranking military general, strategist and tactician. The text is composed of 13 chapters, each of which is devoted to one aspect of warfare. It is commonly known to be the definitive work on military strategy and tactics of its time.
History of Strategic Management
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In Greek mythology, the Trojan War was waged against the city of Troy by the Achaeans (Greeks) after Paris of Troy took Helen from her husband Menelaus king of Sparta. The war is one of the most important events in Greek mythology and has been narrated through many works of Greek literature, most notably through Homer's Iliad and the Odyssey.
http://www.youtube.com/watch?v=YbiR6IMf5KQ
History of Strategic Management
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History of Strategic Management
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The Prince starts by describing the subject matter it will handle. In the first sentence Machiavelli uses the word "state" (Italian stato which could also mean "status") in order to neutrally cover "all forms of organization of supreme political power, whether republican or princely". The way in which the word state came to acquire this modern type of meaning during the Renaissance has been the subject of many academic discussions, with this sentence and similar ones in the works of Machiavelli being considered particularly important.
The Prince is sometimes claimed to be one of the first works of modern philosophy, especially modern political philosophy, in which the effective truth is taken to be more important than any abstract ideal. It was also in direct conflict with the dominant Catholic and scholastic doctrines of the time concerning how to consider politics and ethics.
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History of Strategic Management
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History of Strategic Management
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Sometimes good strategies can’t overcome the superior resources of a competitor.
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Business versus military strategy
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Modern History of Strategic Management
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https://www.youtube.com/watch?v=Vcr3YQK0eEY
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Modern History of Strategic Management
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Modern History of Strategic Management
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Strategic Management Process
Strategic management process: Building a careful understanding of how the world is changing and the a knowledge of how those changes might affect a particular firm
Understanding strategy and performance
Environmental and Internal scanning
Strategy formulation
Strategy implementation
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Chapter 1: Key Takeaways
Strategic management focuses on firms and the different strategies that they use to become and remain successful. Multiple views of strategy exist, and the 5 P’s described by Henry Mintzberg enhance understanding of the various ways in which firms conceptualize strategy.
Most organizations create intended strategies that they hope to follow to be successful. Over time, however, changes in an organization’s situation give rise to new opportunities and challenges. Organizations respond to these changes using emergent strategies. Realized strategies are a product of both intended and realized strategies.
Although strategic management as a field of study has develop mostly over the last century, the concept of strategy is much older. Understanding strategic management can benefit greatly by learning the lessons that ancient history and military strategy provide.
Strategic management is a process that requires the ability to manage change. Consequently, executives must be careful to monitor and to interpret the events in their environment, to take appropriate actions when change is needed, and to monitor their performance to ensure that their firms are able to survive and, it is hope, thrive over time.
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