strategic management

30問 • 2年前

問題一覧

consisting of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.”

Decisions are determined only by analysis

intended strategy

Decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/ or changes in managerial preferences.

Realized strategy

four key attributes of strategic managemen

1. directed toward organizational goals and objectives; 2. Includes multiple stakeholders in decision making; 3. incorporates both short-term and long-term perspectives; and, 4. recognizes tradeoffs between effectiveness and efficiency

consists of, in effect, the “advance work” that must be done in order to effectively formulate and implement strategies. Many strategies fail because managers may want to formulate and implement strategies without a careful analysis of the overarching goals of the organization, as well as a thorough analysis of its external and internal environment.

strategy analysis

business-level strategy addresses the issue of how firms compete in an industry to gain competitive advantage. Second, corporate-level strategy focuses on two issues

strategy formulation

Clearly, effective strategies are of little value if they are not properly implemented. Implementing strategies involves strategic controls and organizational designs; coordination and integration among activities within the firm as well as with customers and suppliers; and effective leadership

strategic implementation

addresses the relationship between various participants in determining the overall direction and performance of corporations. It consists of three primary participants—shareholders, management, and the board of directors.

Corporate governance

Three mechanisms that ensure effective corporate governance

➢ An effective and engaged board of directors ➢ Shared Activism ➢ Proper managerial rewards and incentive

Zero-Sum View

Stakeholder compete for attention and resources of the organization ➢ Gain of one is a loss to the other ➢ Rooted in the traditional conflict between workers and management

of our new innovative features. We define crowdsourcing as “a practice where the Internet is used to tap a broad range of individuals and groups to generate ideas and solve problems.”

crowdsourcing

Managers must consider the needs of the broader community-at-large and act in a socially responsible manner. Social responsibility is the expectation that businesses or individuals will strive to improve the overall welfare of a society.

social responsibility

defined as policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in which it operates.

the concept of Shar value

Such a technique involves an assessment of environmental, social, and financial performance. We state that environmental sustainability is now a value embraced by most successful corporations

the three bottom line : incorpa rating financial as well environmental and social cost

have significant profit-and-loss responsibility

local line leader

Comparing a firm’s performance over time helps to provide a means of evaluating trends

Historical Comparisons

When evaluating a firm’s financial performance, it is important to compare it with industry norms. That is, a firm’s current ratio or profitability may be impressive at first glance. However, it may pale when compared to industry averages

Comparisons with Industry Norms

Referring back to Module 2, firms with similar strategies are considered members of strategic groups in a given industry. Furthermore, competition tends to be more intense among competitors within groups than across groups

Comparisons with Key Competitors

helps to provide a meaningful integration of many issues that come into play when evaluating a firm’s performance

balanced scorecard

Managers must translate their general mission statements on customer service into specific measures that reflect the factors that really matter to customers

Customers perspective

Given the rapid rate of change in markets, technologies, and global competition, the criteria for success are constantly changing

Innovation and Learning Perspective

Such measures indicate whether the company’s strategy, implementation, and execution are, in fact, contributing to bottom-line improvement. Typical financial goals include profitability, growth, and shareholder value.

Financial Perspecti

requires a tight set of interrelated tactics such as: aggressive construction of efficient-scale facilities, vigorous pursuit of cost reductions from experience, tight cost and overhead control, and cost minimization in all activities in a firm’s value chain.

Overall Cost Leadership

It refers to the firm’s achievement of similarly, or being “on par” with competitors with respect to low cost, differentiation, or strategic product characteristic.

Competitive Parity

consists of creating differences in the firm’s products or service offerings by creating something that is perceived industry-wide as being unique and valued by customers. Differentiation can take many forms such as: prestige or brand image, technology, innovation, features, customer service, or dealer networks. They are non-price attributes for which customers will pay a premium.

Differentiation

The third generic strategy is based on the choice of a narrow competitive scope within an industry. Focus attains competitive advantages by dedicating itself exclusively to a particular segment or group of segments and tailors its strategy to serving them

Focus

Given the advances in manufacturing technologies such as CAD/CAM as well as information technologies, many firms have been able to manufacture unique products in relatively small quantities at lower costs. This is a concept known as “mass customization”.

Automated and Flexible Manufacturing Systems

A profit pool can be defined as the total profits in an industry at all points along the industry’s value chain. The potential pool of profits will be deeper in some segments of the value chain than in others, and the depths will vary within an individual segment to focus solely on manufacturing and leaving downstream operations to others through outsourcing

Exploiting the Profit Pool Concept for Competitive Advantage

Firms that attain both types of competitive advantage enjoy high returns. However, as with each generic strategy taken individually, there are some pitfalls to avoid:

Pitfalls of Integrated Overall Low Cost and Differentiation Strategies

involves managing costs in every activity of a firm’s value chain and offering no-frills products that are an exceptional value at the best possible price. Internet technologies now provide more opportunities to manage costs and achieve greater efficiencies.

Overall Cost Leadership

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問題一覧

consisting of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.”

strategic management

Decisions are determined only by analysis

intended strategy

Decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/ or changes in managerial preferences.

Realized strategy

four key attributes of strategic managemen

strategy analysis

business-level strategy addresses the issue of how firms compete in an industry to gain competitive advantage. Second, corporate-level strategy focuses on two issues

strategy formulation

strategic implementation

Corporate governance

Three mechanisms that ensure effective corporate governance

➢ An effective and engaged board of directors ➢ Shared Activism ➢ Proper managerial rewards and incentive

Zero-Sum View

Stakeholder compete for attention and resources of the organization ➢ Gain of one is a loss to the other ➢ Rooted in the traditional conflict between workers and management

of our new innovative features. We define crowdsourcing as “a practice where the Internet is used to tap a broad range of individuals and groups to generate ideas and solve problems.”

crowdsourcing

social responsibility

defined as policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in which it operates.

the concept of Shar value

Such a technique involves an assessment of environmental, social, and financial performance. We state that environmental sustainability is now a value embraced by most successful corporations

the three bottom line : incorpa rating financial as well environmental and social cost

have significant profit-and-loss responsibility

local line leader

Comparing a firm’s performance over time helps to provide a means of evaluating trends

Historical Comparisons

Comparisons with Industry Norms

Comparisons with Key Competitors

helps to provide a meaningful integration of many issues that come into play when evaluating a firm’s performance

balanced scorecard

Managers must translate their general mission statements on customer service into specific measures that reflect the factors that really matter to customers

Customers perspective

Given the rapid rate of change in markets, technologies, and global competition, the criteria for success are constantly changing

Innovation and Learning Perspective

Financial Perspecti

Overall Cost Leadership

It refers to the firm’s achievement of similarly, or being “on par” with competitors with respect to low cost, differentiation, or strategic product characteristic.

Competitive Parity

Differentiation

Focus

Automated and Flexible Manufacturing Systems

Exploiting the Profit Pool Concept for Competitive Advantage

Firms that attain both types of competitive advantage enjoy high returns. However, as with each generic strategy taken individually, there are some pitfalls to avoid:

Pitfalls of Integrated Overall Low Cost and Differentiation Strategies

Overall Cost Leadership