Professional Documents
Culture Documents
Intro
Intro
Intro
Strategic Management
Strategic management is the study of why some firms outperform others.
How to create a competitive advantage in the market place that is unique, valuable, and difficult to copy
Decisions
What industries should we compete in?
How should we compete in those industries?
Actions
Allocate necessary resources
Design the organization to bring intended strategies to reality
Copyright 2005 by The McGraw-Hill Companies, Inc. All rights reserved.
Forms of Strategy
Formal versus informal - associated with size of firm and stage of development. Mintzbergs distinction between entrepreneurial and planning mode. Intended versus realized - intended strategies are the plans managers develop; realized strategies are the actions that actually take place over time.
Forms of Strategy
Source:H. Mintzberg and J. A. Waters, Of Strategies, Deliberate and Emergent, Strategic Management Journal 6 (1985), pp. 257-72.
Formulation
What business(es) should we be in? For each, what is the basis for competitive advantage (low cost, differentiation, focus)?
Implementation
Functional tactics Culture and organization structure
Hierarchy of Goals
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Hierarchy of Goals
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Levels of Strategy
Corporate-level
Studio Entertainment
Consumer Products
Media Networks
Business-level
Walt DIsney Pictures Touchstone Pictures... Disneyland... Disney Stores... ABC Network...
Manager
Functional-level
Operations Marketing Finance...
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