ConceptsandCases(英文版)kdw.pptx

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1、STRATEGIC MANAGEMENT:Concepts and Casesfor MBA Class 131-132Zhang YongXian Jiaotong UniversityMain Issues to be Covered:Strategic management-concept environment analysis-external and internal strategies at different levels strategy formulation strategy implementation strategy evaluation casesChapter

2、 1 Strategic Management and introductory remarksChapter Outline Five Tasks of Strategic Management Developing a Strategic Vision and Mission Setting Objectives Crafting a Strategy Implementing the Strategy Evaluating Performance and Initiating Corrective Adjustments Why Strategic Management Is a Pro

3、cess Who Performs the Tasks of Strategy?Benefits of“Managing Strategically”Terms to RememberThinking Strategically:The Three Big Strategic Questions1.Where are we now-what is our situation?2.Where do we want to go?Business(es)we want to be in and market positions we want to stake out Buyer needs and

4、 groups we want to serve Outcomes we want to achieve3.How will we get there?What Is Strategy?Competitive moves and business approaches management employs in running a company Managements“game plan”to Please customers Position a company in its chosen market Compete successfully Achieve good business

5、performanceCraft aStrategyto AchieveObjectivesSetObjectivesDevelop aStrategicVision&MissionImplement&ExecuteStrategyEvaluate&Make CorrectionsImprove/ChangeRevise asNeededRevise asNeededImprove/ChangeRecycleas NeededTask 1 Task 2 Task 3 Task 4 Task 5The Five Tasksof Strategic ManagementDeveloping a V

6、ision and Mission Begins with thinking strategically about The firms future business makeup Where to take the firm The task is to Create a roadmap of a companys future Decide what future business position to stake out Provide long-term direction Give the firm a strong identityMissions vs.Strategic V

7、isions A mission statement focuses on current(and permanent)business activities Business(es)company is in now Customer needs currently being served A strategic vision concerns a firms future business path The kind of company it is trying to become Customer needs to be satisfied in the future Sample

8、Mission StatementSouthwest Airlines:The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth,friendliness,individual pride,and Company Spirit.Setting Objectives Establishing OBJECTIVES Converts vision into specific performance target

9、s Creates yardsticks to track performance Pushes firm to be inventive and focused Helps prevent coasting and complacency(self-satisfied and not aggressive)if targets require stretchThe Second Task of Strategic ManagementTypes of Objectives RequiredOutcomes focused on improving a firms financial perf

10、ormanceOutcomes focused on improving a firms competitiveness and its long-term business positionFinancial Objectives Strategic Objectives$Examples:Financial Objectives Grow earnings per share 15%annually Boost annual return on investment from 15%to 20%Increase annual dividends per share to stockhold

11、ers by 5%each year Strive for stock price appreciation equal to or above the 500 average Maintain a positive cash flow Achieve and maintain a AA bond ratingExamples:Strategic Objectives Increase firms market share Overtake key rivals on quality or customer service or product performance Attain lower

12、 overall costs than rivals Boost firms reputation with customers Attain stronger foothold in international markets Achieve technological superiority Become leader in new product introductions Capture attractive growth opportunitiesCrafting a Strategy Strategy involves determining whether to Concentr

13、ate on a single business or several businesses(diversification)Cater to a broad range of customers or focus on a particular niche Develop a wide or narrow product line Pursue a competitive advantage based on Low cost or Product superiority or Unique organizational capabilitiesThe Third Task of Strat

14、egic Management Involves deciding how to Respond to changing buyer preferences Outcompete rivals Respond to new market conditions Grow the business over the long-term Achieve performance targetsOur strategy will be.Crafting a StrategyStrategy Is Both Planned and Reactive to Changing CircumstancesAct

15、ualStrategyPlanned(or Intended)StrategyAdaptiveReactionsThe Hows ThatDefine a Firms Strategy How to grow the business How to please customers How to outcompete rivals How to respond to changing market conditions How to manage each functional piece of the business and develop needed organizational ca

16、pabilities How to achieve strategic and financial objectivesStrategy is HOW to.Understanding Company Strategy-What to Look ForPatternof ActionsThat DefineStrategyActions to Strengthen Resources&CapabilitiesDiversificationResponses toChanging ConditionsOffensive Moves to Gain EdgeChanges in Product L

17、ine,Quality,or ServiceGeographicCoverageForward orBackward Integration,CollaborationHow Functional Activities Are ManagedDefensive MovesPursuing New OpportunitiesStrategy Example:McDonalds Strategic priorities Continued growth Providing exceptional customer care Remaining an efficient and quality pr

18、oducer Offering high value and tasting products Effectively marketing McDonalds brand on a global scaleCore Elements ofMcDonalds Strategy Add 2500 restaurants annually Promote frequent customer visits via attractive menu items,low-price specials,and Extra Value Meals Be highly selective in granting

19、franchises Locate on sites offering convenience to customers and profitable growth potential Focus on limited menu and consistent quality Careful attention to store efficiency Extensive advertising and use of Mc prefix Hire courteous(polite)personnel;pay an equitable wage;provide good trainingCrafti

20、ng Strategy Is anExercise in Entrepreneurship Strategy-making is a market-driven and customer-driven activity that involves Risk-taking and venturesomeness Innovation and business creativity Keen eye for spotting market opportunities Keen observation of customer needs Choosing among alternativesChar

21、acteristics ofEntrepreneurial Managers Boldly pursue new strategic opportunities Emphasize out-innovating the competition Lead the way to improve firm performance Willing to be a first-mover and take risks Respond quickly and opportunistically to new developments Devise leading strategiesWhy Do Stra

22、tegies Evolve?There is always an ongoing need to react to Shifting market conditions Fresh moves of competitors New technologies Evolving customer preferences Political and regulatory changes New windows of opportunity The crisis of the momentWhat Is a Strategic Plan?Where firm is headed-Strategic v

23、ision and business missionAction approaches to achieve targeted results-A comprehensive strategy Short and long term performance targets-Strategic and financial objectivesImplementing Strategy Creating fits between way things are done and what it takes for effective strategy execution Getting the or

24、ganization to execute strategy proficiently and efficiently Producing excellent results in a timely mannerThe Fourth Task of Strategic ManagementStrategy implementation is aninternal,operations-driven activityinvolving organizing,budgeting,motivating,culture-building,supervising,and leading to“make

25、the strategy work”as intended!Strategy ImplementationWhat Does StrategyImplementation Include?Building a capable organization Allocating resources to strategy-critical activities Establishing strategy-supportive policies Motivating people to pursue objectives Tying rewards to achievement of results

26、Creating a strategy-supportive corporate culture Installing needed information,communication,and operating systems Instituting best practices for continuous improvement Exerting strategic leadership Evaluating Performance The tasks of strategy are not a one-time only exercise Times and conditions ch

27、ange Events unfold Better ways to do things emerge New managers with different ideas take over The Fifth Task of Strategic ManagementEvaluating Performance Corrective adjustments Alter long-term direction Redefine the business Raise or lower performance objectives Modify the strategy Improve strateg

28、y executionCharacteristics of the Strategic Management Process Need to perform tasks never goes away Boundaries among tasks are blurry Strategizing is not isolated from other managerial activities Time required comes in lumps and spurts The big challenge is to get the best strategy-supportive perfor

29、mance from employees,perfect current strategy,and improve strategy executionCraft aStrategyto AchieveObjectivesSetObjectivesDevelop aStrategicVision&MissionImplement&ExecuteStrategyEvaluate&Make CorrectionsImprove/ChangeRevise asNeededRevise asNeededImprove/ChangeRecycleas NeededTask 1 Task 2 Task 3

30、 Task 4 Task 5The Five Tasksof Strategic ManagementStrategy Is Both Planned and Reactive to Changing CircumstancesActualStrategyPlanned(or Intended)StrategyAdaptiveReactionsUnderstanding Company Strategy-What to Look ForPatternof ActionsThat DefineStrategyActions to Strengthen Resources&Capabilities

31、DiversificationResponses toChanging ConditionsOffensive Moves to Gain EdgeChanges in Product Line,Quality,or ServiceGeographicCoverageForward orBackward Integration,CollaborationHow Functional Activities Are ManagedDefensive MovesPursuing New OpportunitiesStrategic Management PrincipleStrategy-makin

32、g is a job for line managers,not a staff of planners-doers should be the strategy-makers!Strategic Role of aBoard of Directors Continuously audit validity of a companys long-term direction and strategy Evaluate strategic leadership skills of the CEO and candidates to succeed the CEOStrategic Managem

33、ent PrincipleA board of directors role in the strategic management process is to critically appraise and ultimately approve strategic action plans,but rarely,if ever,to develop the details!Levels of Strategy-MakingCorporate StrategyBusiness Strategies(Competitive Strategy)Functional StrategiesOperat

34、ing StrategiesTwo-Way InfluenceTwo-Way InfluenceTwo-Way InfluenceCorporate-Level ManagersBusiness-Level ManagersOperatingManagersFunctional ManagersMain issues of Corporate Strategy Moves to achieve diversification Actions to boost performance of individual businesses Capturing synergy among busines

35、s units 2+2=5 effects!Establishing investment priorities and steering corporate resources into the most attractive business unitsMain Issues of Business Strategy Forming responses to changes in industry and competitive conditions,buyer needs and preferences,economy,regulations,etc.Crafting competiti

36、ve moves leading to sustainable competitive advantage Building competitively valuable competencies and capabilitiesCOMPETITIVE STRATEGY Uniting strategic initiatives of functional areas Addressing strategic issues facing the companyFunctional Strategies Game plan for a strategically-relevant functio

37、n,activity,or business process Details how key activities will be managed Provide support for business strategy Specify how functional objectives are to be achievedOperating Strategies Concern narrower strategies for managing grassroots activities and strategically-relevant operating units Add detai

38、l to business and functional strategies but of lesser scopeStrategic Management PrincipleTo be a real winner,a strategy must(1)Fit the enterprises situation(2)Build sustainable competitive advantage(3)Improve company performance Factors Shaping theChoice of Company StrategyCompetitiveConditions&Indu

39、stryAttractivenessSocietal,Political,RegulatoryFactorsCompanyOpportunities&ThreatsCompanys Strategic SituationInfluencesof KeyExecutivesResourceStrengths&WeaknessesShared Values&CultureDetermineRelevanceof Internal&External FactorsIdentify&Evaluate Alterna-tivesCrafttheStrategyExternal FactorsIntern

40、al FactorsRecap of Important TermsA view of an organizations future direction and business course;a guiding concept for what the organization is trying to do and to become.Represents managements customized answer to the question“what is our business and what will it be.”A mission statement broadly o

41、utlines the organizations future direction and serves as a guiding concept for what the organization is to do and to become.Strategic VisionOrganization MissionRecap of Important TermsOrganizations targets for achievement;both short and long range objectives are needed.Financial performance targets

42、a company wants to achieve.Targets relating to strengthening a companys overall market position and competitive viability.Performance ObjectivesFinancial ObjectivesStrategic ObjectivesRecap of Important TermsAchievement levels to be reached within the next three to five years.Near-term performance t

43、argets;they establish the pace for achieving the long-range objectives.Long-Range ObjectivesShort-Range ObjectivesRecap of Important TermsManagerial action plan for achieving organizational objectives;strategy is mirrored in the pattern of moves and approaches devised by management to produce the de

44、sired performance.Strategy is the how of pursuing an organizations mission and reaching target objectives.Statement outlining an organizations mission and future direction,near-term and long-term performance targets,and strategy,in light of organizations external and internal situation.StrategyStrategic PlanRecap of Important TermsIncludes the full range of managerial activities associated with putting the chosen strategy into place,supervising its pursuit,and achieving the targeted results.Strategy Implementation演讲完毕，谢谢观看！