Professional Documents
Culture Documents
Art & Science Of,, And, Cross-Functional Decisions That Enable An Organization To Achieve Its Objectives
Art & Science Of,, And, Cross-Functional Decisions That Enable An Organization To Achieve Its Objectives
Defined
Long-Term Objectives
Alternative Strategies
Strategy Selection
Strategy Implementation
Annual Objectives
Policies
Employee Motivation
Resource Allocation
Strategy Evaluation
Internal Review
External Review
Performance Metrics
Corrective Actions
Key Attributes of Strategic
Management
Directs the organization toward overall
goals and objectives.
Involves the inclusion of multiple
stakeholders in decision making.
Needs to incorporate short-term and long-
term perspectives.
Recognizes tradeoffs between efficiency
and effectiveness.
Achieving Sustained
Competitive Advantage
Vision Statement –
What do we want to become?
Mission Statement –
What is our business?
Opportunities & Threats (External)
Analysis of Trends:
• Economic
• Social
• Cultural
• Demographic/Environmental
• Political, Legal, Governmental
• Technological
• Competitors
Strengths & Weaknesses (Internal)
Financial Benefits
• Improvement in sales
• Improvement in profitability
• Productivity improvement
Benefits of Strategic
Management
Non-Financial Benefits
External
Audit
Internal
Audit
• Strategic Management Process
returns.
The Strategic Management Process Analyzing
Goals and
Objectives
Analyzing Analyzing
the External the Internal
Environment Environment
Assessing
Intellectual
Capital
Strategy Analysis
Formulating Implementation:
Business-Level Strategic
Strategies Controls
Formulating Formulating Implementation Strat Leadership:
Corporate-Level International : Organization Excellence,
Strategies Strategies Design Ethics & Change
Formulating Strategic
Internet Leadership:
Strategies Fostering
Entrepreneurship
Difficult communications
Underestimate foreign competition
Cultural barriers to effective management
Complications arising from currency
differences