chapter1-basic-concepts-of-strategic-management英语教学课件

Chapter1BasicConceptsofStrategicmanagementDefinitionofstrategyAfirm’stheoryabouthowtogaincompetitiveadvantageAsetofassumptionsandhypothesesaboutthewaycompetitioninourindustryislikelytoevolve,andhowthatevolutioncanbeexploitedtoearnaprofit.But,itisdifficulttopredictpreciselyhowcompetitioninanindustrywillevolve,andtoknowforsurewhatistherightstrategy.Thisiswhyafirm’sstrategyisalmostalwaysatheory.Itisacompany’sbestbetaboutthefuture.DefinitionofstrategyStrategicmanagementisthatsetofmanagerialdecisionsandactionsthatdeterminesthelong-runperformance.EnvironmentscanningStrategyformulationStrategyimplementationEvaluationandcontrolEvolutionofstrategicmanagementStrategicplanning(1950-1970)Howtocontrolbusinessdivisionofthebusinessgroup?BusinesspolicyCorporateplanningdepartmentFocusonexternalenvironmentsDiversificationM-formProductportfoliomatrixEvolutionofstrategicmanagementIndustryorganizationModeling(1980-1990)MichaelPorterCompetitivestrategy:techniquesforanalyzingindustriesandcompetitors,1980Competitiveadvantage:creatingandsustainingsuperiorperformance,1985Competitiveofadvantageofnations,1990ProvidetoolsforanalyzingfirmexternalenvironmentsEvolutionofstrategicmanagementEmphasizefirminternalcapability(1990-2000)ResourcebasedviewofthefirmCorecompetenceNetworktheorystrengthweaknessthreatsopportunitiesSWOTanalysisEvolutionofstrategicmanagementInfluenceoftechnology(2000-)DevelopmentofinternetBoomofventureEntrepreneurshipOrganizationlearningKnowledgebasedviewStrategicallianceInternationalstrategyLearningorganizationDynamicenvironmentsLesstimeforoneproductortechnologytoreplaceanother.NopermanentcompetitiveadvantageDevelopstrategicflexibility.Strategicflexibilitydemandslong-termcommitmenttocriticalresource.Learningorganization:skilledatcreating,acquiring,andtransferringknowledge,andmodifyingitsbehaviortoreflectnewknowledgeandinsights.StatusofstrategicmanagementoperationmarketingHBRfinanceMISOrganizationmanagementStrategicmanagementResearchhasrevealedorganizationthatengageinstrategicmanagementgenerallyoutperformthosethatdonot.InitiationofstrategyInitiationofstrategyStrategyformulationistypicallynotaregular,continuousprocess.Strategicdriftsimplybearesultoftheorganization’sinertia,ormanager’sbeliefthatthecurrentstrategystillappropriate.TriggereventsNewCEOExternalinterventionThreatofachangeinownershipPerformancegapStrategicinflectionpointStrategicmanagementprocessAsequentialsetofanalysesandchoicesthatcanincreasethelikelihoodthatafirmwillchooseagoodstrategy.MissionObjectivesExternalAnalysisInternalAnalysisStrategyFormulationStrategyImplementationEvaluationandControlThemissionAnorganization’smissionisitspurpose,orthereasonforitsexistence.Ittellswhatthecompanyisprovidingtosociety.Maytagcorporation

Toimprovethequalityofhomelifebydesigning,building,marketing,andservicingthebestappliancesintheworld.ThemissionofKodakistoprovide“customerswiththesolutionstheyneedtocapture,store,process,output,andcommunicateimages–anywhere,anytime.”TheobjectivesObjectivesaretheendresultsofplannedactivity.Thestatewhatistobeaccomplishedbywhenandshouldbequantifiedifpossible.3M

Toachieve10%annualgrowthinearningspershare.Toachieve20%-25%returnonequityToachieve27%returnoncapitalemployed.ThevisionWhatwouldthecompanyliketoachieve?Agoodvisionismeanttostretchacompanybyarticulatinganambitiousbutattainablefuturestate.ThevisionofFordis“tobecometheworld’sleadingconsumercompanyforautomotiveproductsandservices.”Nokiaistheworld’slargestmanufacturerofmobilephonesandoperateswithasimplebutpowerfulvision:“Ifitcangomobile,itwill!”ThevaluesThevaluesofacompanyshouldstate:HowmanagersandemployeesshouldconductthemselvesHowtheyshoulddobusinessWhatkindoforganizationtheyneedtobuildtohelpachievethecompany’smissionOrganizationalcultureThesetofvalues,norms,andstandardsthatcontrolhowemployeesworktoachieveanorganization’smissionandgoalsOftenseenasanimportantsourceofcompetitiveadvantageThevaluesnucor“ManagementisobligatedtomanageNucorinsuchawaythatemployeeswillhavetheopportunitytoearnaccordingtotheirproductivity.”“Employeesshouldbeabletofeelconfidentthatiftheydotheirjobsproperly,theywillhaveajobtomorrow.”“Employeeshavetherighttobetreatedfairlyandmustbelievethattheywillbe.”“Employeesmusthaveanavenueofappealwhentheybelievetheyarebeingtreatedunfairly.”AtNucor,valuesemphasizingpayforperformance,jobsecurity,andfairtreatmentforemployeeshelptocreateanatmospherethatleadstohighemployeeproductivity.externalandinternalanalysisExternalanalysisPurposeistoidentifythestrategicopportunitiesandthreatsintheorganization’ernalanalysisPurposeistopinpointthestrengthsandweaknessesoftheorganization.Strengthsleadtosuperiorperformanceandweaknessestoinferiorperformance.StrategyformulationMultidivisionalstructureStrategyformulationCorporatestrategy:tomaximizeprofitabilityandprofitgrowth.DiversificationstrategyInternationalstrategyIntegrationstrategyStrategicallianceM&ABusinessstrategy:businesses’overallcompetitivethemesCompetitivestrategyFunctionalstrategy:directedatoperationaleffectivenessStrategyimplementationStrategyimplementationistheprocessbywhichstrategiesandpoliciesareputintoactionthroughthedevelopmentofprograms,budgets,andprocedure.Programs:stepsneededtoaccomplishasingle-useplan.BudgetProcedure:detailthevariousactivitiesthatmustbecarriedoutforcompletionofafirm’sprogram.StrategyimplementationConsistsofImplementationandexecutionofthestrategicplansDesignofthebestorganizationstructureConsistencyofstrategywithcompanycultureControlsystemstomeasureandmonitorprogressGovernancesystemsforlegalandethicalcomplianceEvaluationandcontrolEvaluationandcontrol:theprocessbywhichcorporateactivitiesandperformanceresultsaremonitoredsothatactualperformancecanbecomparedwithdesiredperformance.ThefeedbackloopManagersmustmonitorstrategyexecutionManagersmustmonitorandreevaluateforthenextroundofstrategyformulationandimplementationManagersmustobtainclear,prompt,andunbiasedinformationfromthepeoplebelowtheminthecorporationhierarchy.StrategicdecisionStrategicdecisiondealwiththelong-runfutureoftheentireorganization.RareConsequentialDirectiveMintzberg’smodeofstrategicdecisionEntrepreneurialmode:strategyisdevelopedbyonepowerfulperson.Thefocusisonopportunitiesandproblemsaresecondary.Advantage:cleargrowthstrategyDisadvantage:provideitsproductsbeforethecompanyisabletosupportthemAdaptivemode:“muddlingthrough”reactivesolutionstoexistingproblemsLackofaproactivesearchfornewopportunitiesMintzberg’smodeofstrategicdecisionPlanningmodeSystemicgatheringofappropriateinformation,generationoffeasiblealternativestrategy,rationalselectionofthemostappropriatestrategy.Includeboththeproactivesearchfornewopportunities,andthereactivesolutionofexistingproblems.LogicalincrementalismSynthesisofplanning,adaptive,andlessextententrepreneuria