Reading 9/16/12
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| Madonna success | relentless drive. dedication, opportunism, reinvention
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| Lance Armstrong | infectious commitment. analyzing the requirements for success, developing a strategy and executing flawlessly.
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| Vietnam | strategy, endurance. total commitment over a long period.
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| Strategy - formulated and implemented | understanding of game and how to maneuver
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| Characteristics of strategy for success | Goals that are simple, consistent and long term.
Profound understanding of the competitive environment.
Objective appraisal of resources.
Effective implementation.
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| Framework for strategy analysis | The Firm: 1. goals and values, 2. resources and capabilities, 3. structure and systems
RELATIONSHIP TO:
The Industry Environment: Customers, Competitors, Suppliers
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| Is SWOT an effective framework? | author prefers a simple, two way classification of internal and external forces.
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| Strategic Fit | For success, it must fit with external environment and internal - goals, values, resources, capabilities, structure and systems.
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| Why businesses need strategies | give direction and purpose, deploy resources effectively and coordinate decisions.
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| Strategy vs tactic | S - overall plan for deploying resources to estab a favorable position. (war)
T-scheme for a specific action (battles)
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| Strategic decisions | are important
involve a significant commitment of resources
not easily reversible
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| Corporate planning | long term planning, 5 years, set goals and objectives, forecasted econ trends estab priorities and allocated capital expend.
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| Planning to strategy making shift | assoc with increasing focus on competition and having a competitive advantage. directed attention to profitability.
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| What is strategy? | means by which individuals or organizations achieve their objectives.
A plan, method or series of actions designed to achieve a specific goal or effect.
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| Strategy Choices | Where to compete
When to compete?
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| Corporate strategy | defines the firm in terms of the industries and mkts in which it competes. Decisions include choice over diversification, vertical integration, acquisitions, allocation of resources. (top mgmt team)
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| Business Strategy (Competitive Strategy) | concerned with how the firm competes within a participates within a particular industry or market. To prosper within the industry, it must estab a competitive advantage. (divisional mgmt)
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| Realized Strategy | implemented
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| Intended Strategy | conceived by the top mgmt team
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| emergent strategy | decisions that emerge from the complex processes in which ind mgrs interpret the intended strategy and adapt.
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| Identifying a company's strategy | mission, vision, principles, values statements
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| Strategy Improves Decision Making | Simplifies by constraining the range of decision alternatives and acting as a heuristic.
Permits the knowledge of many to be pooled and integrated.
facilitates the use of analytic tools
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| Strategy as a Coordinating Device | Way to communicate to organization's members. Buy-in needed and monitoring.
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| Strategy as a Target | forward looking. establishes a direction of development.
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| Purpose of Strategy Analysis | Not to provide answers but understand the issues.
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Created by:
Elisahbeth
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