西交大MBA戰(zhàn)略管理講義1ppt課件

1、STRATEGIC MANAGEMENT:Concepts and Casesfor MBA Class 131-132Zhang YongXian Jiaotong UniversityMain Issues to be Covered:Strategic management-conceptenvironment analysis-external and internalstrategies at different levelsstrategy formulationstrategy implementationstrategy evaluationcasesChapter 1Stra

2、tegic Management and introductory remarksChapter OutlineFive Tasks of Strategic ManagementDeveloping a Strategic Vision and MissionSetting ObjectivesCrafting a StrategyImplementing the StrategyEvaluating Performance and Initiating Corrective AdjustmentsWhy Strategic Management Is a ProcessWho Perfor

3、ms the Tasks of Strategy?Benefits of “Managing StrategicallyTerms to RememberThinking Strategically:The Three Big Strategic Questions1. Where are we now - what is our situation?2. Where do we want to go?Business(es) we want to be in and market positions we want to stake outBuyer needs and groups we

4、want to serveOutcomes we want to achieve3. How will we get there?What Is Strategy?Competitive moves and business approaches management employs in running a companyManagements “game plan toPlease customers Position a company in its chosen marketCompete successfullyAchieve good business performanceCra

5、ft aStrategyto AchieveObjectivesSetObjectivesDevelop aStrategicVision& MissionImplement& ExecuteStrategyEvaluate & Make CorrectionsImprove/ChangeRevise asNeededRevise asNeededImprove/ChangeRecycleas NeededTask 1Task 2Task 3Task 4Task 5The Five Tasksof Strategic ManagementDeveloping a Vision and Miss

6、ionBegins with thinking strategically aboutThe firms future business makeup Where to take the firm The task is toCreate a roadmap of a companys futureDecide what future business position to stake outProvide long-term directionGive the firm a strong identityMissions vs. Strategic VisionsA mission sta

7、tement focuses on current (and permanent) business activitiesBusiness(es) company is in nowCustomer needs currently being servedA strategic vision concerns a firms future business path The kind of company it is trying to becomeCustomer needs to be satisfied in the future Sample Mission StatementSout

8、hwest Airlines:The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit. Setting ObjectivesEstablishing OBJECTIVESConverts vision into specific performance targetsCreates yardsticks

9、 to track performancePushes firm to be inventive and focusedHelps prevent coasting and complacency(self-satisfied and not aggressive) if targets require stretchThe Second Task of Strategic ManagementTypes of Objectives RequiredOutcomes focused on improving a firms financial performanceOutcomes focus

10、ed on improving a firms competitiveness and its long-term business positionFinancial Objectives Strategic Objectives$Examples: Financial ObjectivesGrow earnings per share 15% annuallyBoost annual return on investment from 15% to 20%Increase annual dividends per share to stockholders by 5% each yearS

11、trive for stock price appreciation equal to or above the 500 averageMaintain a positive cash flowAchieve and maintain a AA bond ratingExamples: Strategic ObjectivesIncrease firms market share Overtake key rivals on quality or customer service or product performanceAttain lower overall costs than riv

12、alsBoost firms reputation with customersAttain stronger foothold in international marketsAchieve technological superiorityBecome leader in new product introductionsCapture attractive growth opportunitiesCrafting a StrategyStrategy involves determining whether toConcentrate on a single business or se

13、veral businesses (diversification)Cater to a broad range of customers or focus on a particular nicheDevelop a wide or narrow product linePursue a competitive advantage based onLow cost orProduct superiority orUnique organizational capabilitiesThe Third Task of Strategic ManagementInvolves deciding h

14、ow toRespond to changing buyer preferencesOutcompete rivalsRespond to new market conditionsGrow the business over the long-termAchieve performance targetsOur strategy will be . . . Crafting a StrategyStrategy Is Both Planned and Reactive to Changing CircumstancesActualStrategyPlanned (or Intended)St

15、rategyAdaptiveReactionsThe Hows ThatDefine a Firms Strategy How to grow the businessHow to please customersHow to outcompete rivalsHow to respond to changing market conditionsHow to manage each functional piece of the business and develop needed organizational capabilitiesHow to achieve strategic an

16、d financial objectivesStrategy is HOW to . . .Understanding Company Strategy - What to Look ForPatternof ActionsThat DefineStrategyActions to Strengthen Resources & CapabilitiesDiversificationResponses toChanging ConditionsOffensive Moves to Gain EdgeChanges in Product Line,Quality, or ServiceGeogra

17、phicCoverageForward orBackward Integration, CollaborationHow Functional Activities Are ManagedDefensive MovesPursuing New OpportunitiesStrategy Example: McDonaldsStrategic prioritiesContinued growthProviding exceptional customer careRemaining an efficient and quality producerOffering high value and

18、tasting productsEffectively marketing McDonalds brand on a global scaleCore Elements ofMcDonalds StrategyAdd 2500 restaurants annuallyPromote frequent customer visits via attractive menu items, low-price specials, and Extra Value MealsBe highly selective in granting franchisesLocate on sites offerin

19、g convenience to customers and profitable growth potentialFocus on limited menu and consistent qualityCareful attention to store efficiencyExtensive advertising and use of Mc prefixHire courteous (polite) personnel; pay an equitable wage; provide good trainingCrafting Strategy Is anExercise in Entre

20、preneurshipStrategy-making is a market-driven and customer-driven activity that involvesRisk-taking and venturesomenessInnovation and business creativityKeen eye for spotting market opportunitiesKeen observation of customer needsChoosing among alternativesCharacteristics ofEntrepreneurial ManagersBo

21、ldly pursue new strategic opportunitiesEmphasize out-innovating the competitionLead the way to improve firm performanceWilling to be a first-mover and take risksRespond quickly and opportunistically to new developmentsDevise leading strategiesWhy Do Strategies Evolve?There is always an ongoing need

22、to react toShifting market conditionsFresh moves of competitorsNew technologiesEvolving customer preferencesPolitical and regulatory changesNew windows of opportunityThe crisis of the momentWhat Is a Strategic Plan?Where firm is headed - Strategic vision and business missionAction approaches to achi

23、eve targeted results - A comprehensive strategy Short and long term performance targets -Strategic and financial objectivesImplementing StrategyCreating fits between way things are done and what it takes for effective strategy executionGetting the organization to execute strategy proficiently and ef

24、ficientlyProducing excellent results in a timely mannerThe Fourth Task of Strategic ManagementStrategy implementation is aninternal, operations-driven activityinvolving organizing, budgeting,motivating, culture-building,supervising, and leading to “make the strategy workas intended!Strategy Implemen

25、tationWhat Does StrategyImplementation Include?Building a capable organizationAllocating resources to strategy-critical activitiesEstablishing strategy-supportive policiesMotivating people to pursue objectivesTying rewards to achievement of resultsCreating a strategy-supportive corporate cultureInst

26、alling needed information, communication, and operating systemsInstituting best practices for continuous improvementExerting strategic leadership Evaluating PerformanceThe tasks of strategy are not a one-time only exerciseTimes and conditions changeEvents unfoldBetter ways to do things emergeNew man

27、agers with different ideas take over The Fifth Task of Strategic ManagementEvaluating PerformanceCorrective adjustmentsAlter long-term directionRedefine the businessRaise or lower performance objectivesModify the strategyImprove strategy executionCharacteristics of the Strategic Management ProcessNe

28、ed to perform tasks never goes awayBoundaries among tasks are blurryStrategizing is not isolated from other managerial activitiesTime required comes in lumps and spurtsThe big challenge is to get the best strategy-supportive performance from employees, perfect current strategy, and improve strategy

29、executionCraft aStrategyto AchieveObjectivesSetObjectivesDevelop aStrategicVision& MissionImplement& ExecuteStrategyEvaluate & Make CorrectionsImprove/ChangeRevise asNeededRevise asNeededImprove/ChangeRecycleas NeededTask 1Task 2Task 3Task 4Task 5The Five Tasksof Strategic ManagementStrategy Is Both

30、 Planned and Reactive to Changing CircumstancesActualStrategyPlanned (or Intended)StrategyAdaptiveReactionsUnderstanding Company Strategy - What to Look ForPatternof ActionsThat DefineStrategyActions to Strengthen Resources & CapabilitiesDiversificationResponses toChanging ConditionsOffensive Moves

31、to Gain EdgeChanges in Product Line,Quality, or ServiceGeographicCoverageForward orBackward Integration, CollaborationHow Functional Activities Are ManagedDefensive MovesPursuing New OpportunitiesStrategic Management PrincipleStrategy-making is a job for line managers, not a staff of planners - doer

32、s should be the strategy-makers!Strategic Role of aBoard of DirectorsContinuously audit validity of a companys long-term direction and strategyEvaluate strategic leadership skills of the CEO and candidates to succeed the CEOStrategic Management PrincipleA board of directors role in the strategic man

33、agement process is to critically appraise and ultimately approve strategic action plans, but rarely, if ever, to develop the details!Levels of Strategy-MakingCorporate StrategyBusiness Strategies (Competitive Strategy)Functional StrategiesOperating StrategiesTwo-Way InfluenceTwo-Way InfluenceTwo-Way

34、 InfluenceCorporate-Level ManagersBusiness-Level ManagersOperatingManagersFunctional ManagersMain issues of Corporate StrategyMoves to achieve diversificationActions to boost performance of individual businessesCapturing synergy among business units 2 + 2 = 5 effects!Establishing investment prioriti

35、es and steering corporate resources into the most attractive business unitsMain Issues of Business StrategyForming responses to changes in industry and competitive conditions, buyer needs and preferences, economy, regulations, etc.Crafting competitive moves leading to sustainable competitive advanta

36、geBuilding competitively valuable competencies and capabilitiesCOMPETITIVE STRATEGYUniting strategic initiatives of functional areasAddressing strategic issues facing the companyFunctional StrategiesGame plan for a strategically-relevant function, activity, or business processDetails how key activit

37、ies will be managedProvide support for business strategySpecify how functional objectives are to be achievedOperating StrategiesConcern narrower strategies for managing grassroots activities and strategically-relevant operating unitsAdd detail to business and functional strategies but of lesser scop

38、eStrategic Management PrincipleTo be a real winner, a strategy must(1) Fit the enterprises situation (2) Build sustainable competitive advantage (3) Improve company performance Factors Shaping theChoice of Company StrategyCompetitiveConditions & IndustryAttractivenessSocietal, Political,RegulatoryFa

39、ctorsCompanyOpportunities&ThreatsCompanys Strategic SituationInfluencesof KeyExecutivesResourceStrengths&WeaknessesShared Values&CultureDetermineRelevanceof Internal& External FactorsIdentify &Evaluate Alterna-tivesCrafttheStrategyExternal FactorsInternal FactorsRecap of Important TermsA view of an

40、organizations future direction and business course; a guiding concept for what the organization is trying to do and to become.Represents managements customized answer to the question “what is our business and what will it be. A mission statement broadly outlines the organizations future direction and serves as a guiding concept for what the or