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Strategic+management

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Anurag Chakraborty
Anurag Chakraborty

The document discusses the key aspects of strategic management including developing a strategic vision and mission, setting objectives, crafting a strategy, implementing and executing the strategy, and evaluating performance. It outlines the five main tasks of strategic management and explains concepts like a company's mission, vision, objectives, policies, programs, and the strategic management process of analyzing the environment, formulating strategies, implementation, and evaluation.

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STRATEGY: COMBINATION OF COMPETITIVE MOVES AND BUSINESS APPROACHES EMPLOYED TO SATISFY CUSTOMERS, COMPETE SUCCESSFULLY AND ACHIEVE ORGANIZATIONAL OBJECTIVES.
FIVE TASKS OF STRATEGIC MANAGEMENT DEVELOPING A STRATEGIC VISION AND MISSION SETTING OBJECTIVES CRAFTING A STRATEGY TO ACHIEVE OBJECTIVE IMPLEMENTING AND EXECUTING STRATEGY EVALUATING PERFORMANCE,MONITORING NEW DEVELOPMENTS AND INITIATING CORRECTIVE ADJUTMENTS
MISSION: SPEAKS ABOUT COMPANY’S PRESENT BUSINESS SCOPE VISION: PORTRAYS A COMPANY’S FUTURE BUSINESS SCOPE SETTING OBJECTIVES: FINANCIAL OBJECTIVES STRATEGIC OBJECTIVES CRAFTING A STRATEGY: RUSHING TO CATCH UP REVISING STRATEGY TO CATCH THE WAVES ANTICIPATING CHANGES AND INITIATING STRATEGIC ACTIONS TO RIDE CREST OF WAVES MAKE WAVES DRIVE CHANGES COMPANY APPROACHES FUTUREMARKETCONDITIONS RAPID EVOLU TIONARY CHANGE GRADUAL EVOLU TIONARY CHANGE REACTIVE/FOLLOWER PROACTIVE/LEADER
IMPLEMENTING AND EXECUTING THE STRATEGY • ALLOCATING RESOURCES • ESTABLISHING STRATEGY SUPPORTIVE POLICIES AND OPERATING PROCEDURES • MOTIVATING PEOPLE • CREATING COMPANY CULTURE AND WORK CLIMATE • INFORMATION AND COMMUNICATION SYSTEM • INSTITUTING BEST PRACTICES & PROGRAMS FOR CONTINUOUS IMPROVEMENT • EXERTING INTERNAL LEADERSHIP EVALUATING PERFORMANCE, MONITORING NEW DEVELOPMENTS AND INITIATING CORRECTIVE ADJUSTMENTS
POLICIES: A GUIDE TO ANY ACTION. • FUNTIONAL POLICY: MARKETING PRODUCTION RESEARCH • SECONDARY POLICIES: PRODUCT GEOGRAPHICAL AREA CUSTOMER SEGMENTATION • MAJOR POLICY:BUSINESS PORTFOLIO PROGRAMME STRATEGIES: METHODS USED TO ACHIVE ORGANIZATIONAL OBJECTIVE. PROGRAMMES: COLLECTION OF ACTIVITIES TO ACHIEVE CERTAIN END BUDGETS PROCEDURES
STIMULUS FOR STRATEGY • ENHANCING PERFORMANCE LEVEL • FALLING PERFORMANCE LEVEL • IMPENDING OWNERSHIP CHANGE • OUTSIDE INTERVENTION • NEW BOSS STRATEGIC DECISION MAKING & MINTZBERG MODEL UNIQUE CONSEQENTIAL DIRECTIVE • ENTREPRENEURIAL MODE • ADAPTIVE MODE • PLANNING MODE
STRATEGIC MANAGEMENT PROCESS • MISSION/VISION • OBJECTIVE • STRATEGIES • POLICIES ENVIRONMENTAL ANALYSIS STRATEGY FORMULATION • PROGRAMMES • BUDGETS • PROCEDURES IMPLEMENTATION OF STRATEGY INTERNAL • STRENGTH • WEAKNESS EXTERNAL • OPPORTUNITIES • THREATS EVALUATION AND CONTROL
HOW STRATEGIES GET CRAFTED • THE CHIEF ARCHITECT APPROACH ( BILL GATES, DELL, BRANSON) • DELEGATION APPROACH(.BROADBASED PARTICIPATION) (3M, GE ) • COLLABORATIVE OR TEAM APPROACH ( EDS, NOKIA) • CORPORATE INTRAPRENEUR APPROACH (BRITISH AIRWAYS)
BENEFITS OF STRATEGIC MANAGEMENT • PROVIDES BETTER GUIDANCE TO THE ORGANIZATION • MAKING MANAGERS AND ORGANIZATIONAL MEMBERS MORE ALERT ON NEW OPPORTUNITIES AND THREATNING DEVELOPMENTS • HELPS TO UNIFY ORGANIZATIONS • CREATE MORE PROACTIVE POSTURE • PROMPTS DEVELOPMENT OF A CONSTANTLY EVOVLVING BUSINESS MODEL THAT WILL SUSTAIN BOTTOMLINE SUCCESS OF THE ENTERPRISE • PROVIDING MANAGERS WITH A RATIONALE FOR STEERING RESOURCES INTO STRATEGY-SUPPORTIVE , RESULT PRODUCING AREAS
BENEFITS OF STRATEGIC MANAGEMENT • PROVIDES BETTER GUIDANCE TO THE ORGANIZATION • MAKING MANAGERS AND ORGANIZATIONAL MEMBERS MORE ALERT ON NEW OPPORTUNITIES AND THREATNING DEVELOPMENTS • HELPS TO UNIFY ORGANIZATIONS • CREATE MORE PROACTIVE POSTURE • PROMPTS DEVELOPMENT OF A CONSTANTLY EVOVLVING BUSINESS MODEL THAT WILL SUSTAIN BOTTOMLINE SUCCESS OF THE ENTERPRISE • PROVIDING MANAGERS WITH A RATIONALE FOR STEERING RESOURCES INTO STRATEGY-SUPPORTIVE , RESULT PRODUCING AREAS

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Strategic+management

  • 1. STRATEGY: COMBINATION OF COMPETITIVE MOVES AND BUSINESS APPROACHES EMPLOYED TO SATISFY CUSTOMERS, COMPETE SUCCESSFULLY AND ACHIEVE ORGANIZATIONAL OBJECTIVES.
  • 2. FIVE TASKS OF STRATEGIC MANAGEMENT DEVELOPING A STRATEGIC VISION AND MISSION SETTING OBJECTIVES CRAFTING A STRATEGY TO ACHIEVE OBJECTIVE IMPLEMENTING AND EXECUTING STRATEGY EVALUATING PERFORMANCE,MONITORING NEW DEVELOPMENTS AND INITIATING CORRECTIVE ADJUTMENTS
  • 3. MISSION: SPEAKS ABOUT COMPANY’S PRESENT BUSINESS SCOPE VISION: PORTRAYS A COMPANY’S FUTURE BUSINESS SCOPE SETTING OBJECTIVES: FINANCIAL OBJECTIVES STRATEGIC OBJECTIVES CRAFTING A STRATEGY: RUSHING TO CATCH UP REVISING STRATEGY TO CATCH THE WAVES ANTICIPATING CHANGES AND INITIATING STRATEGIC ACTIONS TO RIDE CREST OF WAVES MAKE WAVES DRIVE CHANGES COMPANY APPROACHES FUTUREMARKETCONDITIONS RAPID EVOLU TIONARY CHANGE GRADUAL EVOLU TIONARY CHANGE REACTIVE/FOLLOWER PROACTIVE/LEADER
  • 4. IMPLEMENTING AND EXECUTING THE STRATEGY • ALLOCATING RESOURCES • ESTABLISHING STRATEGY SUPPORTIVE POLICIES AND OPERATING PROCEDURES • MOTIVATING PEOPLE • CREATING COMPANY CULTURE AND WORK CLIMATE • INFORMATION AND COMMUNICATION SYSTEM • INSTITUTING BEST PRACTICES & PROGRAMS FOR CONTINUOUS IMPROVEMENT • EXERTING INTERNAL LEADERSHIP EVALUATING PERFORMANCE, MONITORING NEW DEVELOPMENTS AND INITIATING CORRECTIVE ADJUSTMENTS
  • 5. POLICIES: A GUIDE TO ANY ACTION. • FUNTIONAL POLICY: MARKETING PRODUCTION RESEARCH • SECONDARY POLICIES: PRODUCT GEOGRAPHICAL AREA CUSTOMER SEGMENTATION • MAJOR POLICY:BUSINESS PORTFOLIO PROGRAMME STRATEGIES: METHODS USED TO ACHIVE ORGANIZATIONAL OBJECTIVE. PROGRAMMES: COLLECTION OF ACTIVITIES TO ACHIEVE CERTAIN END BUDGETS PROCEDURES
  • 6. STIMULUS FOR STRATEGY • ENHANCING PERFORMANCE LEVEL • FALLING PERFORMANCE LEVEL • IMPENDING OWNERSHIP CHANGE • OUTSIDE INTERVENTION • NEW BOSS STRATEGIC DECISION MAKING & MINTZBERG MODEL UNIQUE CONSEQENTIAL DIRECTIVE • ENTREPRENEURIAL MODE • ADAPTIVE MODE • PLANNING MODE
  • 7. STRATEGIC MANAGEMENT PROCESS • MISSION/VISION • OBJECTIVE • STRATEGIES • POLICIES ENVIRONMENTAL ANALYSIS STRATEGY FORMULATION • PROGRAMMES • BUDGETS • PROCEDURES IMPLEMENTATION OF STRATEGY INTERNAL • STRENGTH • WEAKNESS EXTERNAL • OPPORTUNITIES • THREATS EVALUATION AND CONTROL
  • 8. HOW STRATEGIES GET CRAFTED • THE CHIEF ARCHITECT APPROACH ( BILL GATES, DELL, BRANSON) • DELEGATION APPROACH(.BROADBASED PARTICIPATION) (3M, GE ) • COLLABORATIVE OR TEAM APPROACH ( EDS, NOKIA) • CORPORATE INTRAPRENEUR APPROACH (BRITISH AIRWAYS)
  • 9. BENEFITS OF STRATEGIC MANAGEMENT • PROVIDES BETTER GUIDANCE TO THE ORGANIZATION • MAKING MANAGERS AND ORGANIZATIONAL MEMBERS MORE ALERT ON NEW OPPORTUNITIES AND THREATNING DEVELOPMENTS • HELPS TO UNIFY ORGANIZATIONS • CREATE MORE PROACTIVE POSTURE • PROMPTS DEVELOPMENT OF A CONSTANTLY EVOVLVING BUSINESS MODEL THAT WILL SUSTAIN BOTTOMLINE SUCCESS OF THE ENTERPRISE • PROVIDING MANAGERS WITH A RATIONALE FOR STEERING RESOURCES INTO STRATEGY-SUPPORTIVE , RESULT PRODUCING AREAS
  • 10. BENEFITS OF STRATEGIC MANAGEMENT • PROVIDES BETTER GUIDANCE TO THE ORGANIZATION • MAKING MANAGERS AND ORGANIZATIONAL MEMBERS MORE ALERT ON NEW OPPORTUNITIES AND THREATNING DEVELOPMENTS • HELPS TO UNIFY ORGANIZATIONS • CREATE MORE PROACTIVE POSTURE • PROMPTS DEVELOPMENT OF A CONSTANTLY EVOVLVING BUSINESS MODEL THAT WILL SUSTAIN BOTTOMLINE SUCCESS OF THE ENTERPRISE • PROVIDING MANAGERS WITH A RATIONALE FOR STEERING RESOURCES INTO STRATEGY-SUPPORTIVE , RESULT PRODUCING AREAS