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Pursuing Success: The Strategic Dimension The Strategic Dimension

The document discusses strategic management and strategy development. It defines strategy as plans, patterns, positions and perspectives that provide direction for an organization. The strategic management process involves analyzing internal and external environments, formulating strategies, implementing policies, and providing feedback. Key aspects of strategy development include setting goals and procedures, gaining competitive advantages, and building on core competencies. Strategic management is necessary for both survival and growth of an organization.

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Adarsh Kumar
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© Attribution Non-Commercial (BY-NC)
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107 views

Pursuing Success: The Strategic Dimension The Strategic Dimension

The document discusses strategic management and strategy development. It defines strategy as plans, patterns, positions and perspectives that provide direction for an organization. The strategic management process involves analyzing internal and external environments, formulating strategies, implementing policies, and providing feedback. Key aspects of strategy development include setting goals and procedures, gaining competitive advantages, and building on core competencies. Strategic management is necessary for both survival and growth of an organization.

Uploaded by

Adarsh Kumar
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Pursuing

Success

The Strategic Dimension


›hat is Strategy?

 Plan, Pattern, Position and


Perspectives
- Mintzberg
 Common thread between a firm·s
present and future markets which can
spell out where the firm is heading
- Andrews
 Direction and scope of an
organization for a long term
- P.A.T.
aow to make a good
strategy?
 Strategy should contain:
 Goals and Objectives to be achieved
 Key policies that shall guide actions
 Action programs

 Select number of concepts


 Should withstand unforeseeable
forces
 aierarchy of related and mutually
supporting strategies
aow to make a good
strategy?
 Flexibility and maneuverability
 Championed by committed leadership
 Speed, secrecy and intelligence
 Protect resource base and key
operating points from attack by
competitors
Models of Strategy

Entrepreneurial Adaptive Planning


Strategic Management
Process

 S›OT Analysis
 ¶›aAT· & ¶›a · to do in a particular
context.
 Setting ¶TIME·, ¶MARKET SaARE· &
¶COST·.
 Formulation of strategy policies.
 Implementation of policies.
 Continuous monitoring & feedback.
 Further changes & improvement.
Macro Environment

 Political and Legal


 Economic
 Technical
 Socio-- cultural
Socio
Micro Environment( as per
Porter ·s model)

 Supplier power
 Buyer Power
 Entrants threat
 Substitute threat
 Rivalry among existing operators
Competition Analysis

 Objectives
 Resource base
 Access to certain strategic assets
 Track record
 Current strategic initiatives
 Segmentation
 Trade off b/w top-
top - line and bottom-
bottom - line
 Core-- competency
Core
 Forecasting Industry Trends and Turning
Points
ANAL SIS OF INTERNAL
ENVIRONMENT AND ASSESSING
STRATEGIC CAPABILITIES
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Set of activities of a firm can be divided into two categories:
categories :
 Primary Activities: logistics, operations, marketing, sales and
services
 Support Activities: Infrastructure, Technological development,
aRM and procurement

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STATEMENTS ON
STRATEGIC
IMPERATIVES
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Strategic Management
Process
 Important to set up the company's
mission, goals and procedures
 O ffers direction and guidance to the
employees
 Sets up measurable goals and time
lines
 Designates duties of all personnel
Strategic Initiatives

 Development & Maintenance of


competitive advantages
 Examining & redefining the scope of
operations
 Formulating policies & designing
administrative structure
Strategic Management considers-
considers-
1. Repositioning the business portfolio
2. Upgrading competitive advantages
3. Restructuring & revitalizing organization
Key Concepts Guiding Strategy
Development
´The Theory of Businessµ ² by Peter Drucker
Competitive Advantage
- Cost, Quality, Customer Service, etc
- Changes over time
Strategic Intent
- Ambition that is out of line with current resources
- Create layers of Advantages, Build position in
competitors' week areas
Key Concepts Guiding Strategy
Development
Core Competencies
- Long term, Enhanced through application & sharing
Final Statement
Strategic Management is a fundamental necessity for both survival and
growth of an organization.

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