問題一覧
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Short-term milestones that firms must achieve to reach long-term objectives
annual objectives
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Means by which annual objectives will be achieved
policies
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strategy formulation
Vision & Mission External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection
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External Opportunities and Threats • Analysis of Trends
• Economic • Social • Cultural • Demographic/Environmental • Political, Legal, Governmental • Technological • Competitors
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Carefully designed or planned to serve a particular purpose or advantage
strategic
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Strategy Implementation
Annual Objectives Policies Employee Motivation Resource Allocation
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Nonfinancial benefits of strategic management
❑ Enhanced awareness of threats ❑ Improved understanding of competitors’ strategies ❑ Increased employee productivity ❑ Reduced resistance to change ❑ Clearer understanding of performance-reward relationship ❑ Enhanced problem-prevention capabilities
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example of strategies
• Geographic expansion • Diversification • Acquisition • Product development • Market penetration • Retrenchment • Divestiture • Liquidation • Joint venture
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is a company’s game plan
strategic plan
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Pitfalls in Strategic Planning
-using strategic planning to gain control over decisions -only to satisfy accreditation or regulatory req -delegating planning to "planner" rather than involving all managers -failing to involve key employees in all phases of planning -viewing planning as unnecessary or unimportant
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Controllable activities performed especially well or poorly • Determined relative to competitors
internal stregths and weaknesses
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What do we want to become?
vision statement
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Guidelines for Effective Strategic Planning
-should be a people process more than a paper process -be a learning process for all managers and employees -should be words supported by numbers rather than number supported by words -should be simple and nonroutine -should vary assignments, team memberships, etc
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Assessing the Internal Environment Internal Factors
Financial Ratios Performance Measures Industry Averages Survey Data
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Basic Tenet of Strategic Management External Opportunities and Threats Strategy Formulation
take advantage of external opportunities avoid/minimize impact of external threats
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Strategy Evaluation
Internal Review External Review Performance Measurement Corrective Action
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Strategists
Gather Information Analyze Information Organize Information
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3 Stages of the Strategic Management Process
strategy formulation, implementation, evaluation
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is a key to successful strategic management
communication
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Dynamic & continuous • More formal in larger organizations
strategic management process
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Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives
strategic management
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Means by which long- term objectives are achieved
strategies
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Key Terms in Strategic Management
Competitive advantage Strategists Vision and mission statements External opportunities and threats Internal strengths and weaknesses Long-term objectives Strategies Annual objectives Policies
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Why Some Firms Do No Strategic Planning
◼Lack of knowledge of strategic planning ◼ Poor reward structures ◼ Waste of time ◼ Too expensive ◼ Laziness ◼ Content with success ◼ Fear of failure ◼ Overconfidence ◼ Prior bad experience ◼ Self-interest ◼ Fear of the unknown ◼ Honest difference of opinion ◼ Suspicion
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What is our business? What is our purpose? What makes us different from others?
mission statement
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Anything that a firm does especially well compared to rival firms
competitive advantage
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Internal Strengths and Weaknesses • Typically located in functional areas of the firm
• Management • Marketing • Finance/Accounting • Production/Operations • Research & Development • Management Information Systems
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Specific results that an organization seeks to achieve in pursuing its basic mission • Long-term means more than one year
long-term objectives
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Long term objectives Essential for ensuring the firm’s success
Provide direction Aid in evaluation Create synergy Reveal priorities Focus coordination Provide basis for planning, organizing, motivating, and controlling
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It is a clear set of plans, actions and goals that outlines how a business will compete in a particular market, or markets, with a product or number of products or services.
strategic in business