There is also the concept of strategic objectives.

And it is even more critical

than coming up with a vision and a mission. So, because these are to operationalize
the mission statement, these are you know, in order to execute your strategy, you
need to identify the right strategic objectives. These provide the guidance on how
to fulfill mission and vision. And, you know, you can again take screenshots, but
there are some financial lands, general strategic objectives, let me say so, all of
these could be regarded as financial objectives. And then, more, you know,
strategic more general strategic objectives is, you know, increasing your market
share. Mind you, these are not strategies, these are strategic objectives. So, you
know, in the previous week, we discussed about the strategies, talking about Tesla
case, and by the way, I got all the responses to your homeworks and I will grade
those, and we might discuss on Wednesday about that, but these are strategic
objectives of the companies. So, also we've got a few examples from the industry.
Domino's Pizza strategic objectives, for example, is to safely deliver a hot
quality pizza in 30 minutes or less, they say Ford has a long list of strategic
objectives for example

and then when considering, you know, the strategic analysis of a firm the next
thing that should be constant is also about the values of a business I'm sure
you're familiar with this concept from Organizational Behavior course. So, what
values do is they help to determine a range of acceptable behaviors in the company
they are the guiding principles for the company they keep the company on its route
right? So, we can say we've got two examples here from Harley Davidson integrity
being accountable encouraging creativity inspiring teamwork, individuality and
diversity is their core are their core values are these for the customers No, these
are for the internal firm right these are for the for the human resource for the
employees of the firm.

Okay, so um also a few other concepts, a few other topics in terms of crafting a
strategy. It is critical when crafting a strategy, it is critical to understand how
you should be responding to changing buyer preference. So having an understanding
of the market is very critical. And then of course, the strategy should be made in
a way to grow the business over the long term. For that you need to have
performance targets, and achievable or output from those targets. And also you need
to out compete the rivals, right, so you need to run tester, then the other manager
that's I gave example of rights, so that the bear doesn't talk to you remember my
examples in the intro session? So that's what competitive advantages. Okay, so,
again, this is for your reference, take a screenshot I won't go through all the
details, but in order to understand the company strategy, these are all the things
that you could look for. Maybe if you had this list, you would have a better chance
to analyze Tesla's case. But anyway, I wanted to cover that you know, at the
highest level possible I didn't want you to go to the details. So that's why I
asked few questions there. But these all these items, could be the items that you
would look for when understanding a company's strategy Okay, so there is one more
thing we don't have, we've got just we don't have enough time. So there is one more
thing I'd like to touch upon, which brings everything together, actually. But this
is, I won't ask about this in the course, actually, this is maybe we could call
this further reading. But it makes sense, you know, to deep dive into these types
of frameworks. If you are a management consultants in a consulting firm, or in a
strategic planning function of a large company. So, you know, if there are several
of you that are willing to do that, in the future, I would say, if you're gonna,
you know, identify the vision mission strategic objectives of the company, then you
need to have such a framework. And this is from the book of James Collins, he, I
mean, among all the readings in this subject, I like this one the most, because he
comes up with this framework that sets you know, the vision, the mission, or he
calls this core ideology. And then he relates these to the key strategies of the
firm. So, for that, I will share with you additional reading for this session. And
here in this additional reading, you will have James Collins's book as well, the
influence article and book as well, you can refer to that, I won't be asking this
in in the midterms, but if you really need something, deep dive on this topic on
today's topic, then I would, I would suggest these readings and video so I know
that you're going to take screenshots and screenshots won't work with the links. So
that's why I'm going to share this also on on autocrats. Okay. So, actually, there
were a lot of topics that we covered today. And I'm a little bit over my time. So,
before that, but mainly today, my aim was to you know, further introduce the key
terminology to you the concepts of strategic management and remember, we touched
upon some very critical topics, competitive advantage, sustainable competitive
advantage, competitive disadvantage and competitive parity, economic value
creation, so, those are all critical topics and we will cover them in we will use
those terminology in the next courses. Okay. So, any questions to me before I
finish today's session? Okay, I will stay a little bit longer. And if you'd like we
can, I mean, I can create one chat room. And if you have in a breakout room and if
you have personal questions that you'd like to ask, please. You might join the room
and you might ask Thank you very much for joining and I'll see you on Wednesday.
See you CO. CO. CO recording stopped I have a couple of couple

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