Contents
Systems Approach to Strategic Management
Rationale
Strategic Management is the process of specifying the organization's objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies and plans to achieve the organization's objectives. It is the highest level of managerial activity, usually formulated by the Board of directors and performed by the organization's Chief Executive Officer (CEO) and executive team. Strategic management provides overall direction` to the enterprise and is closely related to the field of Organization Studies.
“Strategic management is an ongoing process that assesses the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment.” (Lamb, 1984:ix)[1]
Strategic management is a combination of 1) strategy formulation and 2) strategy implementation.
Strategy formulation involves:
1. Performing a situation analysis, self-evaluation and competitor analysis: both internal and external; both micro-environmental and macro-environmental.
2. Concurrent with this assessment, objectives are set. This involves crafting vision statements (long term view of a possible future), mission statements (the role that the organization gives itself in society), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives.
3. These objectives should, in the light of the situation analysis, suggest a strategic plan. The plan provides the details of how to achieve these objectives.
4. This three-step strategy formulation process is sometimes referred to as determining where you are now, determining where you want to go, and then determining how to get there. These three questions are the essence of strategic planning. SWOT Analysis: I/O Economics for the external factors and RBV for the internal factors.
Strategy implementation involves:
1. Allocation of sufficient resources (financial, personnel, time, technology support)
2. Establishing a chain of command or some alternative structure (such as cross functional teams)
3. Assigning responsibility of specific tasks or processes to specific individuals or groups
It also involves managing the process. This includes monitoring results, comparing to benchmarks and best practices, evaluating the efficacy and efficiency of the process, controlling for variances, and making adjustments to the process as necessary.
When implementing specific programs, this involves acquiring the requisite resources, developing the process, training, process testing, documentation, and integration with (and/or conversion from) legacy processes.
- General approaches
- The strategy hierarchy
- Historical development of strategic management
- The psychology of strategic management
- Reasons why strategic plans fail
- Criticisms of strategic management
- Journals devoted primarily to strategic management
- Magazines that frequently contain strategic management articles
- Strategic planning
- Marketing strategies
- Military strategy
- Business model
- Business Plan
- Marketing plan
- Value migration
- Management
- Marketing
- Proximity mapping
- Management consulting
- Strategy visualization
- Morphological analysis
- References
- The Journal of Business Strategies
- Strategy Compass
- Strategic Planning Society
- The Swedish Morphological Society
- The Edge Perspectives Blog
- The Association of Internal Management Consultants-The nationwide network of Strategic Management and Planning professionals
Today's Videos
- Connect with us on http://www.youtube.com/finntrack
- Google's Playlists
Teaching and Learning Resources
Strategic Planning Process
Strategic Planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people.
The outcome is normally a strategic plan which is used as guidance to define functional and divisional plans, including Technology, Marketing, etc.
- Definition
- Vision, mission and values
- Methodologies
- Situational analysis
- Goals, objectives and targets
- Mission statements and vision statements
- References
What is Strategic Planning: The Strategy Process. Planning in a Larger Context. Creative Planning. Gaining Understanding of Strategic Planning. Benefits of Strategic Planning. When Should Strategic Planning Be Done?
Definitions of Strategy: Some Language Basics. Strategy Accoring to B. H. Linddell Hart. Strategy According to George Steiner. Strategy According to Henry Mintzberg. Strategy According to Kenneth Andrews. Strategy According to Michael Porter. Strategy According to Kepner-Tregoe. Strategy According to Michael Robert. Strategy According to Treacy and Wiersema. What is Strategy? The Practical Question: How? The Decisions Are the Same. Some Fundamental Questions. Concluding Remarks.
Preparation for Strategic Planning: Perspectives of Planning. Who Should Be Involved in Planning? How Do We Ensure Implementation of Our New Plan?
Strategic Planning Models: Model One - "Basic" Strategic Planning. Model Two - Issue-Based (or Goal-Based) Planning. Model Three - Alignment Model. Model Four - Scenario Planning. Model Five - "Organic" (or Self-Organising) Planning.
Tutorials
Evolution, Interpretations and Theorists
Multi-disciplinary Nature, Scope of Strategic Management, Terminology, Traditional Strategy, Sun Tzu & the Art of Business, Historical Evolution, Management Theory, Modern Developments, Evolution of Strategic Management, Organisational Planning and Implementation.
Strategic Management - An Introduction
Applications, Efficient Markets, Characteristics of EM, Competitive Ideal, Motivating Profit Differentials, Sources of Superior Performance, Purposes of Strategy, Strategic Planning Process Overview, Strategy Defined, A Hierarchy of Strategic Action, Two Phases of Strategic Management, Entry Plays an Important Role, Mission Statements, Vision Statements, Values Statements, Financial Statement Analysis, Calculating Sales and Earnings Growth, Accounting Measures of Performance, Ratios - Liquidity, Ratios - debt management, Ratios - market value, Strategic Investments, Recap - Using performance information, Stakeholder theory.
Strategic Management
Introduction to Corporate Strategy, Ohmae’s Competition Model, Company Performance in Context, What is Corporate Strategy?A Working Approach to Strategy, A Model of Strategic Management, Strategy is about choices firm make on Products and Markets and how they leverage their advantage, Corporate Strategic Balance, The determinants of success - A Porterian View, An Alternative Theory of Strategy, Entrepreneurial Viewpoint, The Austrian School, Heterogeneity of Strategies, Profits are not a result of monopoly power, Success factors, Modelling Success, The Management Agenda, Strategic Challenges and the Quest for Competitiveness, External Corporate Strategy Drivers, Key Strategic Questions.
Case Studies
Workshop
The Strategic Company Appraisal
The Strategic Company Appraisal
Organisations as Systems: A Systems Approach. Environmental Factors - Internal and External. Boundaries. Structures and Processes. Management roles and processes. Modelling.
Company Appraisal: Situation Assessment. Strategic Managers. Environmental Scanning. Strategy Evaluation. Administrative Considerations. Action Planning. Implementation. Performance Evaluation and Control.
Performance Management: On Performance in Organisations. Performance Management Applies to More than Employee Performance. Overall Goals. Basic Steps. Development and Contents of a Performance Plan.
Measuring Performance and the Executive's Diagnostic Toolkit: The Four Sets of Diagnostic Tools. Foundation Information. Productivity Information. Competence Information. Resource-Allocation Information. Control Systems for Strategic Management. Total Quality Control (TQC): Japanese Approach.
Organisational Culture: What is Culture? Culture Control and Engineering. Organisational Culture and Working Life. Visibility. Classifying/Modelling Organisation Culture. Some Types of Cultures. Understanding and Assessment.
The Learning Company Model: Supply-chain Learning. Pedler, Burgoyne and Boydell's Learning Company. Adopt a Learning Approach to Strategy.
Company-to-company Learning
Learning Organisation and Knowledge Management
Introduction to Valuation: Introduction. Earnings Valuation. Revenues Valuation. Cash Flow Valuation. Equity Valuation. Yield Valuations. Member Valuation.
Workshops, Tutorials, Assignments
Strategic Planning Models
"Basic" Strategic Planning, Issue-Based (or Goal-based) Planning, Alignment Model, Scenario Planning, "Organic" (or Self-Organising) Planning
Descriptive Cognitive Models
Situated cognition, Knowledge and Learning, Enculturation, Cognitive Apprenticeship, Models of Decision Making, Classical Decision Making, Naturalistic decision making (NDM), Prescriptive Model, Current Planning Model, New Planning Model, Planning Under Time Pressure Model, Recognition-primed decision (RPD) model, Mental Simulation, GOMS (Goals, Operators, Methods and Selection rules), TAO Model
The Viable System Model as a Framework for Understanding Organisations
Introducing the Model, Organisations as Recursive Systems, The Five Essential Functions for Viability: Implementation, Co-ordination, Control, Intelligence, Policy. The VSM in Summary.
Theory of the Firm
Introduction, Types of Firms, Traditional Theory of the Firm, What does a supplier maximise? Profit, The John Bates Clark Model, More Simplifying Assumptions, The Firm's Decision, Labour Input and Profits, Problems with Profit Maximisation, Net Present Value, Risk Minimisation v. Profit Maximisation, Baumol’s Static Sales Revenue Maximising Model, Alternatives to Profit Maximisation, Baumol's Theory of Sales Revenue Maximisation, Williamson's Model of Managerial Discretion, Marris - Growth Maximisation, Cyert and March Behavioural Theory.
Nature and Scope of Objectives/Objective Setting. Introduction to the Strategy Process
What should the firm's objectives be? Definitions of Strategy, The Strategic-Management Model, The Behavioural Analysis: Missions, Goals and Objectives, Corporate Objectives, A Hierarchy of Objectives, Corporate Means or Strategies, Selecting the ROSE target, A Shareholder’s Performance-risk Curve, A Planning Framework For Objective Setting, The Strategic Management Model, Internal Organisation and Managerial Hierarchies, Organisation Strategies, International Corporate Governance, The Stakeholder Theory, The German Model, The Japanese Model, The Future, Competencies directly related to successful management performance, Definition of Competency, Competence and Competency.
A Philosophical Basis for Valuation
Misconceptions about Valuation, Approaches to Valuation, Discounted Cash Flow Valuation, Equity Valuation versus Firm Valuation, First Principle of Valuation, What is Risk? Risk and Return Models, Riskfree Rate in Valuation, Measurement of the risk premium, The Survey Approach, The Historical Premium Approach, Historical Average Premiums for the United States, What about historical premiums for other markets? Risk Premiums for Asia, Implied Equity Premiums, Other Measures of Market Risk, Using Proxy Variables for Risk, Measures of Operating Leverage, Measuring Cost of Capital, Estimating the Cost of Debt, Estimating Market Value Weights, Estimating Cash Flows, Three Ways to Think About Earnings, Dividends and Cash Flows to Equity, Measuring Investment Expenditures, The Working Capital Effect, Estimating Growth, Dealing with Negative Earnings, Propositions about Historical Growth, How good are analysts at forecasting growth? The Five Deadly Sins of an Analyst, Propositions about Analyst Growth Rates, Fundamental Growth Rates, Growth Rate Derivations, Changes in ROE and Expected Growth, Expected Growth in EBIT And Fundamentals, Growth Patterns, Beyond Inputs: Choosing and Using the Right Model.
The Fool Ratio
The P/E Ratio, The Growth Rate, Calculating Growth Rates, The Fool Ratio Explained.
Organisational Cultures and Structures
Harrison’s cultures, The Power culture, The Role culture, The Task culture, The Person culture, Organisation Strategies, Payne's Organisational concepts, A conventional pyramid with a management services department ladder, Outline organisation chart for a decentralised geographically diverse company, Outline organisational chart for a heavily centralised geographically diverse company, A Matrix organisation structure, Two cells (or autonomous work groups) alongside a conventional pyramid in computer department
Corporate Governance, Nature and Scope of Governance, Role of the Board, Checks and Balances
Evolution of Corporate Governance, Corporate Governance, Why Corporate Governance? Working Definition, An Organisational Framework for Corporate Governance, Focus on the Role of the Board, Hampel Report 1998, Role of Directors, Hampel - some recommendations, Interested Parties in Corporate Governance, Types of Boards, Framework for Analysing Board Activity, The Two Primary Functions of the Board, Governance - Voluntary or Legal? Notable Failures of Governance, Some Reasons for Corporate Governance Failure
Case Studies
Strategic Analysis I - Functional Competence
Hierarchical Levels of Strategy: Corporate Level Strategy, Business Unit Level Strategy, Functional Level Strategy.
Workshops, Tutorials, Assignments
Corporate Level Strategy 1
Corporate Strategy Alternatives, Growth Strategies, Diversification Overview, Diversification Strategies, Boston Consulting Group Growth-Share Matrix.
Corporate Level Stratey 2
The Role of Diversification, Forms of Diversification, Vertical Integration, Horizontal Diversification, Means of Diversification, Problems With Diversification, BCG Matrix, BCG Matrix with Learning/Experience Curve.
The Role of Resources and Capabilities in Strategy Formulation
Resource-based Strategy, Theodore Levitt’s solution to the problem of external change, Resource as the basis for corporate profitability, Resources as the Basis of Superior Profitability, Resource-based approach comprises three key elements, The starting point for analysis is to identify and assess the resources and capabilities that the firm has available to it, The Resources of the Firm - at two levels of aggregation, Financial resources, Physical resources, Human resources, Technological resources, Reputation.
Workshop: Human Resources Development
Workshop: Operations StrategyCrisis management versus Visionary Operations, Corporate and marketing strategy and operations? The Value-added Chain, Programmes in an operations strategy, Evolution versus radical change
SWOT Analysis
Strengths and Weaknesses, Resources and Capabilities, Competitive Competencies, Fit between Firm Strategy and its Environment, Internal Analysis, Strategy built around SW, Key Success Factors, Analysing Resources, Typical SW Items, SWOT Profile and Possible Strategies, Resources & Skills, Resources as the basis for corporate profitability, Elements in Distinctive Competencies, Competitive Advantage Simplified, Day & Wenley’s Model of Competitive Advantage, Durability of Competitive Advantage, Issues surrounding Resources and Capabilities, Barriers.
Workshops, Tutorials, Assignments
Workshop: The Strategic Human Resource Management
Strategic Analysis II
Managing Value Chain: What is Value Chain? Virtual Integration. Leveraging Your Service-Profit Chain. Lean Enterprise. Waste Reduction. Employee Empowerment.
Analysing Company Reports: Calculating Profitability Ratios . How Do I Use Fundamentals to Make an Investment Decision? What Is Ratio Analysis? What Can I Learn from Profitability Ratios? When Is an Increase in Earnings a Loss? How to Use Profitability Ratios to Make Investment Decisions. Other Ratios to Consider. Understanding Balance Sheets.
Workshops, Tutorials, Assignments:
- Corporate Planning
- Corporate Structure and Finance
Financial Analysis
The Company’s Cash-Cycle, The Dupont Strategic Profit Model, Margin Management, Asset Management, Leverage Management, Growth Strategy and Finance
The Uses of Financial Ratios
Performance assessment, Trend analysis, Inter-firm comparison, Test of reasonableness.
Capital Investment Appraisals
How should managers evaluate capital investments Capital investment appraisals: Payback methods, Discounted payback, Accounting rate of return, Net present value and yield
The Environment
Industry Analysis: Rivalry. Threat Of Substitutes. Buyer Power. Supplier Power. Barriers to Entry / Threat of Entry. Dynamic Nature of Industry Rivalry. Generic Strategies to Counter the Five Forces.
Workshops, Tutorials, Assignments:
Industry Analysis - Model
Industry Structure, The Porter 5-Force Model, Success Factors
Firm's Environment - Nature, Scope, Impact
Assessing the Environment, Environmental Aspects in Three Contexts, Business Environment, How can we study this? Environmental Analysis and Industry Analysis, Environmental Influences by Source, Environmental Influences by Proximity, The Macro-environment, The Micro-environment, The Determinants of Industry Profit, Problems and Questions, Environmental Forecasting, Models, The Scenario Process, Fit between Firm Strategy and its Environment, Quest for Competitiveness in 1990s, Managers Need to Know, Key Strategic Questions.
Competitive Pricing and Regulation
Price Cutting, Limit Pricing, Post-Entry Pricing, Antitrust Issues, Types of Regulation, Regulatory Agencies, Demand for Regulations, Strategic Regulation, Privatisation.
Measuring Macroeconomic Performance
Growth and Business Cycles, Domestic Income and Product, Accounting Identities, Price and Quantity Indexes
Government and Political Environment
International Business Environment
Culture and Cultural Change, “Hai” in Japanese, Cultural Factors, Elements of Culture, Key Cultural Variables, Contextual Background of Various Countries, High and Low Context Cultures, Comparisons & Contrasts, Managing Our Values, Managing Cultural Change, Cultural Diversity, Building Cross-cultural Skills
Legal Forces
Be aware of complex legal forces, Alternate purposes of taxes, Antitrust Laws, Tariffs, Quotas & Other Obstacles, Product Liability, Price&Wage Controls, Labour Laws & Currency Exchange, Local Laws, International Assistance, Protect your Intellect, Industrial Espionage, Terms to Know,
Strategic Development I
Creating a Vision: Key Components for Your Vision. Create a Mission Statement. Benefits of Visioning. Vision Killers. Exercise in Creating a Vision.
Conducting Strategic Planning: Strategic Analysis. Environmental Scan Strengths. Weknesses, Opportunities and Threats. Various Organisational Assessments. Developing/Updating a Mission Statement. Developing/Updating a Vision Statement. Developing/Updating a Values Statement.
Management by Objectives: What is MBO? Where to Use MBO? Managing for Results. Individual Responsibility.
Identifying Strategic Direction: Strategic Issues and Goals. Reaching Goals. The Goal Grid. Development Model. Forms of Strategy.
Innovation Management: Why Innovate? New Era of Systemic Innovation.
Strategic Thinking:Systems Thinking. Creativity. Cybernetics. Game Theory. Chaos Theory. Cognition. Mind Mapping. Cognitive Learning Theory. Reflexions.
Workshops, Tutorials, Assignments:
Company Analysis: Strategy
Components of Strategy, Strategy Over Time: The PLC, PLC: Implications, Market Life Cycle, Implications for Segmentation, Value Disciplines and the Life Cycle.
Strategic Innovation
Facts, Uncertainty, Innovation Decision Tree, Diffusion, Patents, Dominant Designs, Structuring for Innovation, Licensing.
Strategic Development
Development Model, The Ansoff Matrix: Market Penetration, Product Development, Market Development, Diversification, Integration. Contraction - Internalised Strategies, Strategic Method: Internal Development, External Development - Acquisitions & Mergers, Joint Development. Strategic Basis: Sources of Competitive Advantage, Porter’s Generic Strategies.
Life-cycle Approaches to Strategy Formulation
Sales, cashflow and profits over the industry life-cycle, Concerns, Introduction stage, Growth stage, Maturity stage, Decline stage, Performance Objectives, Goal Orientation, Criteria for classification of competitive position, Arthur D Little Matrix.
Portfolio Analysis. Building Shareholder Value
Portfolio Models. The Boston Consulting Group Matrix. PLC and an extended form of Growth Share Matrix, Weaknesses of Growth Share Matrix, Directional Policy Matrix, Portfolio Models in use, Different models - different results.
Tutorial: Growth Share Positioning:Measuring Historical Evolution
A very powerful tool used to understand the implicit or explicit strategies of a firm is the ‘Share-Momentum Graph’ (Lewis 1977)
Construction of the Graph, Positioning, Challenging the basic premises of the BCG approach, The Trade-off between Profitability and Growth, Business-unit Cost of Capital, Market Growth Rate, Additivity Principle, Cash Generation and Cash Using characteristics of a Business in terms of its Growth and Profitability, Implications of Cash Generation and Cash Use.
Scenario Analysis and Planning
Process, Industry Example.
Vertical Integration
Vertical Integration, Transaction Cost Economics.
Strategic Development II
A Business Plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
The business goals being attempted may be for-profit or non-profit. For-profit business plans typically focus on financial goals. Non-profit and government agency business plans tend to focus on service goals. Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community. A business plan that has changes in perception and branding as its primary goals is called a marketing plan.
Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers.[1] External stake-holders of non-profits include donors and the clients of the non-profit's services.[2] For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the IMF, the World Bank, various economic agencies of the UN, and development banks.
Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
Operational plans describe the goals of an internal organization, working group or department.[3] Project plans, sometimes known as project frameworks, describe the goals of a particular project. They may also address the project's place within the organization's larger strategic goals.[4][5]
- Business Plan Content
- Business Plan Preparation
- Presentation Formats
- Revisiting the Business Plan
- Legal and Liability Issues
- Open Business Plans
- How Business Plans are Used
- Satires of Business Plans
- References
Workshops:
Strategic Business Plan: Income Projection Statement, Balance Sheet, Monthly Cash Flow Projection, Information Resources
Strategic Business Plan: Marketing Planning
Marketing Planning: Definition, Steps in the Planning Process, Assess Strengths and Weaknesses, Identify Opportunities and Threats, Strategy Decisions, 4 Types of Growth Strategies, Implementation, Control, Contents of a Marketing Plan, The BCG Growth-Share Matrix.
Strategic Business Plan: Operational Planning
Operations Strategy in a Global Environment
Simulate Alternative Environment
Organisational Engineering is a form of Organizational Development created by Gary Salton of Professional Communications, Inc. While traditional organizational development is based on psychology and sociology theories, organizational engineering aims to take a formula based approach in which people can be plugged into an organizational environment equation and the outcome is predicted. Thus engineering organizational development. Like organizational development the focus is to increase efficiency, effectiveness, communication and coordination in groups of all kinds.
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The information derived from organizational engineering testing is often used to place people into groups based on their relationships for optimal compatibility with out trying to change individuals. The range of Organizational Engineering (OE) is from the individual level (puberty and older) to culture (shared values, beliefs and behaviors). It provides a means to understand, measure, predict and guide human behavior both individually and in groups. The end objective of the discipline is to produce visible, positive results of significant consequence and magnitude within a time frame that is useful to the entity being addressed. OE uses human information processing at an individual level. Sociology is the tool of choice at the group level. The methods, tools and processes employed have been documented in the books Organizational Engineering (Salton, 1996) and the Managers' Guide to Organizational Engineering (Salton, 2000). The instrumentation has been validated across all eight validity dimensions in the book Validation of Organizational Engineering (Soltysik, 2000). These books are available from Professional Communications Inc. Recent discoveries, additions and enhancements are published in the Journal of Organizational Engineering (JOE) and are incorporated in the seminars Dr. Salton periodically holds in Ann Arbor, MI. |
Benchmarking - Striving for the Best Practice: Why do others better? How do others better? What can we learn? How can we catch up? How can we become the best in our sector?
Workshops, Tutorials, Assignments:
Quality Management Systems
Common-sense Hypotheses about Quality, What is Quality? Quality Chains, A Policy for Quality, Quality Control (QC) vs Quality Assurance (QA), Quality Assurance, ISO EN BS 9000 and TQM, TQM Projects Disappoint Managers! Comparing TQM and ISO/EN/BS9000, TQM Techniques.
Business Process Re-engineering
Strategic Evaluation - Model
Evaluation - Two Basic Types, Strategy Support Tools, Models, Computing And Strategic Choice, Assumptions Underpinning Rational Strategy Selection Criteria, Evaluation Criteria (According to Johnson & Scholes), Evaluation Criteria (According to Lynch), Evaluation Criteria (According to Thompson), The Johnson & Scholes Framework For Evaluating and Selecting Strategies, Undertaking an Initial Screening of Options, Thompson’s Criteria for Effective Strategies, Selecting Strategies, Criteria For Selecting A Policy, Methods Of Making The Choice, Influences On The Selection Decision, Making the Choice, The Selection Decision.
Strategic Business Plan - Strategic Issues and Recommendations
International Business Strategy
International Business Strategy
Workshops, Tutorials, Assignments
International Trade Theory
Mercantilism and the Nation State, Gold Standard and Wealth, Nation versus the Individual, Labour Theory of Value, Mercantilist Government Policy, The Rise of the Classical Writers, Quantity Theory of Money, Labour Requirements and Absolute Advantage, The Gains from Trade, Positive Sum Game, David Ricardo and Comparative Advantage, Opportunity Costs, International Trade, Terms of Trade, Production Possibilities Frontier, Complete Specialisation
World Competitiveness
What is world competitiveness? An Economic and Social Model, Assets and Processes, Attractiveness and Aggressiveness, Globality and Proximity, Added Value, National Wealth, Domestic Economy, Internationalisation, Government, Finance, Infrastructure, Management, Science & Technology, People.
Perspectives of Globalization
Cultural, Political, Economic
International Strategy I - Motives, Market Entry, Strategies
Historical Development, Globalization Debate, Standardisation, Industrial Globalization Drivers - Detailed, Push and Pull Factors Affecting International Growth, Market Entry Issues, Alternative Methods of Foreign Market Entry, Modes of Entry into
Foreign Markets, Definition of Inward Investment, The Meaning of Direct Investment, Market-specific Motives, Why FDI and not Exports into the EU? Elements of Global Organisation,
International Strategy II
Main Issues of International Strategy, International Strategy Opportunities and Outcomes, Motivations for International Expansion, Porter’s Determinants of National Advantage, Business-Level International Strategies, “Corporate-Level” International Strategies, Combinations of Business-level and International Strategies, Choice of entry mode, Political Risk, Economic Risk, Managerial Problems.
Economic Context for Strategy
Product Life Cycle, Variations on Business Life Cycle, Market Segments in Business Life Cycle, Experience Curve, Experience Curve Components, BCG Growth/Share Matrix, Industry Value Chain
Balance of Payments and Exchange Rates
The Balance of Payments Account, Exchange Rates, Determination of the rate of exchange, Floating exchange rates: movement to a new equilibrium, Exchange Rates and the Balance of Payments, Fixed versus Floating Exchange Rates, European Monetary Integration.
Corporate Turnaround and Endgame Strategy
Corporate Turnaround and Endgame Strategy
Workshops, Tutorials, Assignments:
Mature Market Theory - Endgame Strategies in the Mature and Decline Phase of the Lifecycle. Characteristics of Mature Industries, Competition and Maturity, Barriers of Exit, Endgame Model for the Mature & Decline Context, Harrigan’s Model, Conditions Favourable for Endgame, Conditions Unfavourable for Endgame, Basic Strategies Used in Maturity, Strategies for Declining Industries, Leadership - Increase Investment, Hold Investment Level, Niche -Shrink Selectively, Harvest - Milk the Investment, Divestment, BCG Strategic Environments Matrix.
Recovery and Turnaround Strategies
SWOT Profile and Possible Strategies, Pressures on the Modern Business in the mid 1990s, Symptoms of Decline, Sources of Decline, Two Main Types of Turnaround Strategy, Typical Turnaround Strategies, The Time Path of Successful Turnarounds, Five Common Stages, A Typical Turnaround Sequence, The Feasibility of Recovery based on Six Factors.
Endgame Strategies
Predicting decline, Predicting demand conditions, Structure of remaining demand, Predicting and influencing exit barriers, Exit barriers, Lowering indigenous exit barriers, Lowering competitor’s exit barriers, Predicting capabilities, Movement of cashflow against investment ratio, Strategic options, Generic strategies pursued by firms in end game
Strategic Choice, Evaluation and Implementation. Writing and Communicating the Plan
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Strategic
Management and Business Policy, 10/E ISBN-10: 0131494597 Publisher: Prentice Hall Check the availability and buy your books from our Bookshop. Basic Concepts in Strategic Management Corporate Governance & Social Responsibility Ethics and Social Responsibility in Strategic Management Environmental Scanning & Industry Analysis Internal Scanning & Organizational Analysis Strategy Formulation: Situation Analysis & Business Strategy Strategy Formulation: Corporate Strategy Strategy Formulation: Functional Strategy & Strategic Choice Strategy Implementation: Organizing for Action Strategy Implementation: Staffing & Directing Strategic Issues in Managing Technology & Innovation Strategic Issues in Entrepreneurial Ventures & Small Businesses |
Strategic Implementation
Strategic Choice and Evaluation: Value from Monitoring and Evaluation. Responsibilities for Monitoring and Evaluation. Monitoring and Evaluating Status of Implementation of the Plan. Frequency of Monitoring and Evaluation. Reporting Results of Monitoring and Evaluation. Deviating from Plan. Changing the Plan.
Writing and Communicating the Plan: Writing the Plan. Executive Summary. Authorization. Organisational Description. Mission, Vision and Values Statements. Goals and Strategies.
Workshops, Tutorials, Assignments:
Issues in Implementation
A Linear Sequential Perspective of Implementation, An Adaptive Perspective of Implementation, An Interpretative Perspective of Implementation, Implementation at Three Levels, Peters and Waterman’s Formula for Organisational Success, The McKinsey 7 S Framework, Types of Strategic Change, Managerial Problems Of Change, Stimuli Leading To Change, Paradoxical View Of Organisational Change, Managing Strategic Change, Designing Effective Organisations, Organisation Structure, Differentiation, Integration, Basic View Of "Strategy-Structure" Relationship, Crucial Elements Of Chandlers Thesis, Organisational Design Variables, Basic Contingency Model, Six Structural Configurations, Configurations as One System, A Portfolio Of Configuration At The Business Level, The Role of People in Strategic Change, Factors Causing Resistance To Change, Controls Upon Individual Members Of Organisations, Resource Allocation and Control, Effective Communication, Organisational Rituals and Culture Change, Styles for Managing Strategic Change, The Corporate Death Spiral, Types Of Turnaround, Strategic Leadership, Organising A Business Revolution.
Culture
Culture: The collective mental programming of a group of people/nation, How Culture is Studied, The Iceberg Concept of Culture, Cultural Socialisation, The Influence of Culture on International Relations, Conflict and Resolution, How to Identify and Classify Cultures, Cross-cultural Misunderstandings, Areas where Cultural Awareness is Critical to Success in Foreign Markets, Expressions that Describe American Values, Composition of the Cultural Environment of International Business, Principle Differences in Basic Cultural Assumptions, Evident Differences, Rigorous Models, Important Cultural Variations, Uncertainty Avoidance, Power Distance, Small Power Distance vs. Large Power Distance, Masculinity vs. Femininity, A Comparison of Some American and Sinic Cultural Traits, A Comparison of Two Cultures—East vs. West, A Management Comparison of the US & Japan, Managing in the New Global Century, Global Economic Context, Capabilities, Tools, Cultural Consciousness.
Workshop: Internal Organisation
Managerial Hierarchies, Learning Company Model, Business Strategy and Organisation
Structures, Five perspectives on "strategy", Strategy-making and the Simple Structure, Strategy-making and the Machine Bureaucracy, Strategy-making and the Divisionalized Form, Strategy-making and the Professional, Bureaucracy, Strategy-making and the Adhocracy, A Basic Functional Structure, Product Market Divisonalisation, A Pyramid Structure, A Geographically Diverse Structure, Matrix Structure, Autonomous Work Groups Holding Company Structure, Business Organisations as Systems.
Leadership and Culture
Approaches to the Study of Leadership, Trait Theories, Behavioral Theories, Fiedler Contingency Model, Path-Goal Theory, Charismatic Leadership, Transformational Leadership, Power Bases, Organisational Culture, Succession, Organisational Decline, Downsizing: A Tool for Decline.
Organisation Structure
Formal Structure, Differentiation, Integration, Co-ordination Mechanisms, Basic View Of "Strategy-Structure" Relationship, Crucial Elements Of Chandlers Thesis, Organisational Design Variables, Approaches To Organisational Design, Basic Contingency Model, Why Do Configurations Exist? Six Basic Elements Of The Organisation, Six Structural Configurations, Configurations as One System, A Portfolio Of Configuration At The Business Level.
Strategic Choice and Evaluation
Two Basic Types, Strategy Support Tools. Models, Computing And Strategic Choice, Assumptions Underpinning Rational Strategy Selection Criteria, Evaluation Criteria (According to Johnson & Scholes), Evaluation Criteria (According to Lynch), Evaluation Criteria (According to Thompson), Suitability, Undertaking an Initial Screening of Options, Criteria for Assessing Acceptability, Techniques for Assessing Acceptability, Criteria for Assessing Feasibility, Thompson’s Criteria for Effective Strategies, Selecting Strategies, Criteria For Selecting A Policy, Methods Of Making The Choice, Influences On The Selection Decision, The Selection Decision.
Undertaking an Initial Screening of Options
Strategic Challenge
Organisational Change: What is Organisational Change? What Provokes Organisational Change? Why is Organisation-wide Change Difficult to Accomplish? How Is Organisation-wide Change Best Carried Out? General Guidelines for Organisation-wide Change.
Mastering Continuous Innovation Strategy: Continuous Change as a Norm. Forming the Business Audit. Changes - the Source of Opportunities. Internal and External Sources of Changes. Principles of Innovation. Entrepreneurship as a Continuous Source of Innovation. Systemic Innovation. Innovating for the Present & Preparing for the Future. Innovation and Kaizen Continuous Improvement Strategy.
Workshops, Tutorials, Assignments
- Introducing Change Management into Organisational Development
Learning Organisations. - Overview of Organisational Change
- The Strategic Management Response to the Challenge of Global Change
Revision
Recommended Texts
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Online Learning Centeris a website that follows the text chapter-by-chapter. OLC content is ancillary and supplementary germane to the textbook, as students read the book, they can go online to take self-grading quizzes, review material, or work through interactive exercises. OLCs can be delivered multiple ways – professors and students can access them directly through the textbook website, through PageOut, or within a course management system (i.e. WebCT, Blackboard, TopClass, or eCollege.)
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