Strategy Management Essay

Submitted By 532356615
Words: 1144
Pages: 5
Open Document
Themes of Strategic Management __ Strategy as a response to or initiation of change: Reactive Vs. Proactive Strategy

__ Strategy as developing and sustaining a niche or a competitive/distinctive advantage:

__ Strategy as a number of Ps: _ Plan _ Process _ Pattern (as a stream of decisions) _ Ploy

__ Strategy as redefinition of an organization or an aspect of its operation

__ Strategy as a bridge between organization and environment

__ Strategy as a major decision: Strategy vs. Policy

Generic Strategies _ Porter’s 5 Generic Strategies of: a) Cost Leadership b) Product/Service Differentiation c) Focused Cost Leadership d) Focused Differentiation e) Integrated Cost Leadership & Differentiation

(all implemented via Value Chain)

_ Product and Market Strategies of: a) Product Development b) Market Development c) Market Penetration

_ Retrenchment and Defensive Strategies of: a)Divestiture/Spin off b)Liquidation c)Lay off/down sizing d)Restructuring

_ Prospective/Offensive Strategies of: a)Innovation and R&D b)First Mover (Second Mover)

_ Strategic Alliances of: a)Merger and Acquisition b)Joint Venture c)Strategic Cooperation

_ Integration/Outsourcing Strategies of: a)Vertical (forward and backward) strategies

b)Horizontal Strategies

_ Diversification Strategies of: a) Conglomerate Diversification

d) Concentric Diversification

Internal Analysis of Organization  Organizational Goals/Mission Statement  Organizational Culture  Internal Resources via Functional Areas Analysis
_ Finance

_ Marketing

_ Production/Operations Management

_ Human Resources

_ R&D  Political Realities ________________________________________ Sum of Internal Analysis: Identifying the Critical Resources of the Firm and Recognizing the Strengths and Weaknesses of the Firm.

Elements of Mission Statement
Mission Statement

 Principal Customer

 Principal Product

 Geographic Domain

 Technology

 Profitability, Growth and Survival

 Philosophy and Values

 Employee Relations

 Self Concept (factual)

 Desired Public Image

Example of a Mission Statement:

Organizational Culture:

A set of values, beliefs a practices that are shared over an extended period of time by organizational members.

Culture vs. Cultures vs. Sub-Cultures vs. Counter-Cultures

Sources/Generators of Organizational Culture:

* Values, Beliefs and Visions of Founders and/or Leaders of an Organization. * Organization’s History * Organization’s Design and Structure (Centralization, Formalization and Complexity): How much participation does it produce and sustain? * REWARDS – “You Reap What You Sow”, On the Folly of Rewarding A while Hoping for B! * Verbal Practices: Talks and their Subject(s), Titles, References, Lingo, Emphasis, Stories, Legends, Rationale. Listen and Learn. The talk culture. * Non-Verbal Practices: Events, Ceremonies, Colors, Physical Conditions, Rituals, etc.

Sum-Up Culture: e.g., work hard, play hard. Business vs. Artistic culture, etc.

Functional Resouces/Capabilities Functional Resources/Capabilities: Financial: Essential Tools: Financial Statements, Budgets and Ratios. Where to Borrow From? -- Owners (e.g., via retained earnings, common stocks) -- Long Term Creditors (e.g., Long Term Notes) -- Short Term Creditors (e.g., Commercial Banks) Investment in Fixed Assets:
Show More

Related Documents: Strategy Management Essay

strategies management Essay

Strategies to management operations Prepared by Xia Kong School of Business/Graduate Studies St. Thomas University Miami Gardens, Fla. Dec 5, 2013 1. Why is supply chain management so important in the new global economy? Be specific and present an example. Dr. Shailendrakumar Uttamrao Kale, working as Dean and a Professor at prestigious Sinhgad Institute of Management, Pune, has completed his dissertation named “Global Competitiveness: Role of Supply chain Management in the…

Words 1156 - Pages 5

Southwest People Management Strategy

Southwest's People Management Strategy Southwest Airlines (SWA) operate with a belief that effort given to personnel will increase knowledge in the organization, which ultimately benefits SWA. Rudy Giuliani, in his book Leadership notes: “Looking back, I believe that the skill I developed better than any other was surrounding myself with great people” (Giuliani, 2002). SWA seeks to fill its employment doors with “great people.” However, to have great people, you have to make great people decisions…

Words 1505 - Pages 7

Essay about Strategy Management

3/18/2013 Chapter Objectives 1. To understand company strategies for sequencing the penetration of countries 2. To understand some simplifying tools for helping decide where to operate 3. To understand managers’ approach to strategy development 4. To understand types of entry modes in IB Country Selection and Entry Strategy When Considering International Operation… • All companies with limited resources need to make careful decisions on: a. Where to locate production, and administrative/auxiliary…

Words 3646 - Pages 15

Read: Management and Strategy Essay

article, the term Strategy derives from the Greek word Strategia, meaning generalship. Strategy is combination of thoughts of individuals that give consistency to the actions and decisions of an individual or an organization. It’s about intuition and one’s ability to foresee. It’s about achieving success. It’s about choosing what to do, what not to do. Without tradeoffs there would be no need for choice and thus no need for strategy. There are following four elements of a strategy: 1. Goals that…

Words 743 - Pages 3

Essay about Strategy: Management and Deliberate Strategizing Strategy

other things influence Strategy? Derek Harwood Email derek.harwood@sunderland.ac.uk Tel 0191 515 2331 Room 303c 1 Context • In terms of strategy development need to consider :– Other external forces • Do we control destiny? • Are we in the “Hands of the Gods”? – – – – – – – Does organisation history constrain its choices? Those in charge – Leader or Manager? Some Attributes of Leaders A need for Double-Loop learning Mintzbergs’ thoughts on strategies The Deliberate & Emergent…

Words 1443 - Pages 6

Accounting Strategy Employed By Management And Incentives

4.Accounting strategy employed by management& incentives 4.1Accounting strategy employed by management Amcor’s management seems to be incented to take a long-term view, and to implement the corporate strategies in acquisition and innovations. Hence, appropriate accounting strategies would be employed by management. There are two examples to support our assertion. 4.1.1 Acquisition & Goodwill (AASB 3) Under the permission of AASB, the consolidated entity can renew the fair value of net assets acquired…

Words 411 - Pages 2

Essay on Compensation: Management and Retention Strategy

EXCHANGING VIEWS SERIES, # 4, JUNE 2006 COMPENSATION AS A RETENTION STRATEGY MARIAN COOK FOREWORD FROM EXCHANGE PRESIDENT ShoreCap Exchange (“Exchange” or “SCE”), a non-profit sponsored by ShoreBank Corporation, was established to help build stronger local banks and microfinance institutions (MFIs) that serve the poor in developing rural and urban economies, primarily in Africa and Asia and to a lesser extent, in non-EU Eastern European countries. To achieve its goals, Exchange uses a blend of…

Words 7119 - Pages 29

Alternative Strategies For GC3: Communication And Management

Alternative Strategies for GC3: Communication& Training Katherine Vross Prof. Martin October 28, 2012 Alternative Strategy for Communication Internal communication is the main channel for Great Cups of Coffee to achieve its goals. Sometimes communication can get lost in the shuffle in a fast paced eatery environment where day-to-day operations can become the focal point. The problem of unproductive communication can cost the company time and money. To fix this setback, management will need…

Words 316 - Pages 2

Redefining Your Management Strategy Essay

Redefining Your Management Strategy Some researchers argue that to run today’s business organizations effectively and to ensure that they grow in a sustainable manner, some combinations of management and leadership, efficient functions, and connected relationships are necessary (Toor and Ofori) I would classify myself as being a Theory Y (participative management style). Theory Y managers are known for being participative when making decisions and they value their time and relationships. Theory…

Words 395 - Pages 2

Strategic Management Views Of Strategy Essay

STRATEGIC! MANAGEMENT:! TWO COMPETING VIEWS OF STRATEGY! RECAP! • Strategy is about coherence" – Levels (corporate, business, functional)" – External vs. Internal" – Short term vs. Long term" – Strategy – Organization – Preferences – Resources - Environment" OBJECTIVES! • Contrast two leading views of strategy" – Porterʼs strategy as a position" – Mintzbergʼs strategy as a pattern" • Understand Hondaʼs success in entering the American Motorcycle market from two competing narratives"…

Words 492 - Pages 2