Business

BSMP31 Strategic Management Spring 2011 p g Introduction to strategicalal management 1 Learning Outcomes Understand the characteristics of strategic decisions and what is meant by scheme and strategic management Understand how strategic priorities vary by direct: somatic and business Understand the basic vocabulary of strategy, as used in different contexts Understand the three report elements of the Fundamentals of dodge model: strategic position, strategic choices and strategy in action 2 What is strategy? No universally agreed definition, e.g. system is the direction and area of an organisation over th prospicient term, which i ti the l t hi h achieves advantage in a changing environment by means of its configuration of resources and competences with the aim of fulfilling stakeholder expectations 3 1 What is Strategy? Distinguishing strategy from tactics: Strategy is the overall plan for deploying resources to establish a favorable position. tactical maneuver is a scheme for a specific maneuver Characteristics of strategic decisions: Important. adopt a significant commitment of resources.

Not easily reversible 4 The staple Framework Strategy: the Link between the Firm and its Environment THE FIRM Goals & determine Resources & Capabilities Structure & Systems STRATEGY STRATEGY THE INDUSTRY ENVIRONMENT Competitors Customers Suppliers Governments * 5 The distinction between corporate and business strategy INDUSTRY ATTRACTIVENESS How do we make money or get access to resources? Which businesses should we be in? CORPORATE STRATEGY competitive ADVANTAGE How should we compete? BUSINESS STRATEGY 6 2 Can we describe an organisations strategy? STATIC Where are we competing? Product and market scope Geographical scope Vertical scope DYNAMIC What do we urgency to get? Vision statement How are we competing? What is the basis of our competitive advantage? What de we want to achieve?... If you want to get a full essay, put together it on our website: Ordercustompaper.com

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