STRATEGIC

ANALYSIS
Strategic Management:
Creating Competitive
Advantage
(An Introduction to
Strategic Management)
 Chapter Outline
1. What is strategic Management?
1. Defining Strategic Management
2. Four Key of Attributes of Strategic Management
2. The Strategic Management Process
1. Intended versus Realized Strategies
2. Strategy Analysis
3. Strategy Formulation
4. Strategy Implementation
3. The Role of Corporate Governance and Stakeholder Management
1. Alternative Perspectives of Stakeholder Management
2. Social Responsibility and Environmental Sustainability
4. The Strategic Management Perspective: An Imperative Throughout the
Organization
5. Ensuring Coherence in Strategic Decision
1. Organizational Vision
2. Mission Statements
3. Strategic Objective
"The future belongs to those
who believe in the beauty of
their dreams."
— Eleanor Roosevelt
 The Role of Corporate
Governance and
Stakeholder Management
Corporate governance
- the relationship among
various participants in
determining the direction
and performance of
corporations

Gregory G. Dess, G. M.-H. (2019). Strategic Management text and cases. New York:
McGraw-Hill Education.
Alternative Perspectives of Stakeholder
Management
• stakeholder
management
- a firm’s
strategy for
recognizing
and
responding to
the
interests of all
its salient
stakeholders Gregory G. Dess, G. M.-H. (2019). Strategic Management text and cases. New York:
McGraw-Hill Education.
Social Responsibility and Environmental
Sustainability
• Social responsibility is the expectation
that businesses or individuals will strive
to improve the overall welfare of society.
Social Responsibility and Environmental
Sustainability
1. social responsibility recognizes that businesses must
respond to society’s expectations regarding their
obligations to society
2. the triple bottom line approach evaluates a firm’s
performance. This perspective takes into account
financial, social, and environmental performance
3. making the case for sustainability initiatives addresses
some of the challenges managers face in obtaining
approvals for such projects—and how to overcome
them
The Strategic Management
Perspective: An Imperative
Throughout the
Organization
Three Types of Leaders

• Local line leaders who have significant

profit-and-loss responsibility.
• Executive leaders who champion and guide ideas,
create a learning infrastructure, and establish a
domain for taking action.
• Internal networkers who, although they have little
positional power and formal authority, generate
their power through the conviction and clarity of
their ideas.
Ensuring Coherence in
Strategic Decision
Hierarchy of Goals
-organizational goals ranging from, at the top, those that are less
specific yet able to evoke powerful and compelling mental images,
to, at the bottom, those that are more specific and measurable

Gregory G. Dess, G. M.-H. (2019). Strategic Management text and cases. New York: McGraw-Hill Education.
Organizational Vision
- organizational goal(s) that evoke(s) powerful and
compelling mental images

Examples:
• “To be the happiest place on earth.” (Disney)
• “Restoring patients to full life.” (Medtronic)
• “Our vision is to be the world’s best quick service restaurant.” (McDonald’s)
• “To organize the world’s information and make it universally accessible and
useful.”
(Google)
• “To give everyone in the world the power to share and make the world
more open
and connected” (Facebook)
Visions fail for many reasons, including the
following:
•The Walk Doesn’t Match the Talk
•Irrelevance 
•Not the Holy Grail
•Too Much Focus Leads to Missed Opportunities
•An Ideal Future Irreconciled with the Present
Mission Statements
- a set of organizational goals that identifies the
purpose of the organization, its basis of
competition, and competitive advantage.

• Effective mission statements incorporate the

concept of stakeholder management,
suggesting that organizations must respond to
multiple constituencies.
Strategic Objectives
- a set of organizational goals that are used to put into
practice the mission statement and that are specific and
cover a well-defined time frame

Criteria:
• Measurable
• Specific
• Appropriate
• Realistic
• Timely
"The future belongs to those
who believe in the beauty of
their dreams."
Eleanor Roosevelt
Reference:
Gregory G. Dess, G. M.-H. (2019). Strategic
Management text and cases. New York: McGraw-Hill
Education.
End of Lessons
1.1.3-1.1.5