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Speaker: Dr. Nay Zin Latt Chairman: Business Group Hotel Group
Speaker: Dr. Nay Zin Latt Chairman: Business Group Hotel Group
Venue : India
Date : 10.10.10
Who dare to attack
“Singapore”
Seeing ahead
Seeing above
Seeing behind
Seeing beyond
-- Albert Einstein
All organizations –
• Strengths
• Weaknesses
Functions of Management
Stage When Most
Function Important
Strategy Formulation
Strategy Implementation
Strategy Evaluation
Strategy Formulation
Long-Term Objectives
Alternative Strategies
Strategy Selection
Strategy Formulation
Issues include:
What new businesses to enter
What businesses to abandon
How to allocate resources
Expand operations or diversify
Enter international markets
Merge or form joint venture
Avoidance of hostile takeover
Strategy Implementation
Annual Objectives
Policies
Employee Motivation
Resource Allocation
Strategy Implementation
Internal Review
External Review
Performance Measurement
Corrective Action
Strategy Evaluation
– May include:
• Geographic expansion, diversification
• Acquisition
• Product development, market penetration
• Retrenchment, divestiture
• Liquidation, joint venture
Comprehensive Strategic Management Model
External
Audit
Internal
Audit
Benefits of Strategic Management
1. Identification of opportunities
2. Objective view of management problems
3. Improved coordination and control
4. Minimizes adverse conditions and changes
5. Decisions to better support objectives
6. Effective allocation of time and resources
7. Internal communication among personnel
Benefits of Strategic Management
• Fear of failure
• Overconfidence
• Prior bad experience
• Self-interest
• Fear of the unknown
• Suspicion
Strategies in Action
• Long-Term Objectives
• Types of Strategies
• Integration Strategies
Intensive Strategies
Diversification Strategies
Defensive Strategies
1. Financial resources
2. Physical resources
3. Human resources
4. Technological resources
Strategy Review,
Evaluation &
Control
Evaluation Framework
I. Review Underlying Bases
Differences? Yes
NO III.
Take
II. Measure Firm Performance Corrective
Actions
Differences? Yes
NO