Strategic Management

Mid Term Examination

 Strategic management is the ongoing planning, monitoring, analysis and assessment of
all necessities an organization needs to meet its goals and objectives.

A company’s strategic plan compare with a cricket team’s game plan:

The strategic planning process requires considerable thought and planning on the part of a
company’s upper-level management. Before settling on a plan of action and then determining
how to strategically implement it, executives may consider many possible options.
On the other hand, Cricket is one of the most complex games in terms of rules and number
of different competencies required within the team to win the game. In this sense it is very
similar to complex business set up with different specialized functions working towards a
unified goal. 
 SWOT for SEU:
Strengths:
1. Creativity in education
2. Research on the department
3. Discipline
4. Patience
5. Better university management system

Weakness:
1. Identity not well known
2. Fiscal uncertainty
3. Adjusting to pressures of growth
4. unequal workloads faculty & staff
5. Low campus capacity
Opportunities:
1. Growth potential
2. Growth potential
3. Interest in academic program expansion
4. Partnerships in support of university initiatives
5. Increased interest in global initiatives

Threats:
1. Negative public perception
2. Development of another university in the area
3. State budget crisis
4. Shift in focus on numerical achievement vs. qualitative achievement
5. Lack of proper training of teacher
Different between company Vision and Mission statement:
A mission statement focuses on current business activities and A strategic vision
concerns a firm’s future business path.
The strategy making process: It is the activity by which an organization
defines its strategy and ensures that the defined strategy becomes a reality
rather than just an abstract wish list.
The strategy-to-execution process: It’s provides a structured approach to

clarifying, communicating, implementing, and managing strategy. 

 The different patterns of actions that define different
strategies of an organization.
Corporate strategy
Multi-business strategy, how to gain synergies from managing
a portfolio of businesses together rather than as separate
businesses
Business strategy
How to strengthen market position and gain competitive
advantage

Functional area strategies

Provide a game plan for managing a particular activity in ways
that support the business strategy

Operational strategies
Provide a game plan for managing specific operating activities
with strategic significance
The three big strategic questions when I think up strategically.

1. Where are we now -- what is our situation?

2. Where do we want to go?
3. How will we get there?
The don’ts in wording of a strategic vision statement.

1. Don’t be vague or incomplete.

2. Don’t dwell on the present.
3. Don’t use overly broad language.
4. Don’t state the vision in bland or uninspiring terms.
5. Don’t be generic.
6. Don’t rely on superlatives.
7. Don’t run on and on.
The reasons of communicating the vision:
 Fosters employee commitment to the firm’s chosen strategic direction.
 Ensures understanding of its importance.
 Motivates, informs, and inspires internal and external stakeholders.
Different between financial objectives and strategic objectives.

 Outcomes focused on improving  Outcomes focused on improving

a firm’s financial performance a firm’s competitiveness and its
long-term business position

The features of an ideal mission statement:

 Identifies the firm’s product or services
 Specifies the buyer needs it seeks to satisfy
 Identifies the customer groups or markets it is endeavoring to serve
 Specifies its approach to pleasing customers
 Sets the firm apart from its rivals
 Clarifies the firm’s business to stakeholders
 Why should top manager link up the vision and mission
with core values?

 Core values are the beliefs, traits, and behavioral norms that employees
are expected to display in conducting the firm’s business and in
pursuing its strategic vision and mission.
 Become an integral part of the firm’s culture and what makes it tick when
strongly espoused and supported by top management.
 Match the firm’s vision, mission, and strategy, contributing to the firm’s
business success.
 The characteristics of a good strategic intent.

 Indicates firm’s intent to making quantum gains in competing

against key rivals and to establishing itself as a winner in the
marketplace, often against long odds.
 Entails to take market share away from rivals and achieve a much
strong sustained, aggressive actions market position.
The End