Managing strategy

Strategic management is the continuous planning, monitoring, analysis and assessment of all that is necessary for an organization to meet its goals and objectives. ... The strategic management process involves analyzing cross-functional business decisions prior to implementing them.
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1. Managing strategy

2. Strategic management The strategic management process Corporate strategies Competitive strategies Current strategic management issues

3. Strategic management What is strategic management? Strategic management What managers do to develop the organization’s strategies. Strategies T he plan for how the organization will do what in business and how it will compete successfully, and how it will attract and satisfy its customers in order to achieve its goals. Business model how a company is going to make money. Why strategic management is important? How it can make a difference in how well an organization perform. It’s important has to do with the fact that managers face and manage changes. Its important because organizations are more complex.

4. The strategic management process Step 1 Identifying the organization’s current mission, goals, and strategies. Step 2 Doing an external analysis PEST analysis SWOT analysis Step 3 Doing internal analysis Step 4 Formulating strategies Step 5 Implementing strategies Step 6 Evaluating results

5. Corporate strategies Corporate strategy An organizational strategy that determines what businesses a company is in or wants to do with those businesses. Types of corporate strategy Growth strategy A corporate strategy that’s used when an organization wants to expand the number of markets severed or products offered, either through its current businesses or through new businesses. Stability A corporate strategy in which an organization continues to do what it is currently doing. Renewal A corporate strategy designed to address declining performance. corporate strategies management BCG Matrix A strategy tool that guides resource allocation decisions on the basis of market share and growth rate Stars Cash cows Question marks dogs

6. Competitive strategies Competitive strategy An organizational strategy for how an organization will compete in its business . Strategic business unit SBU Role of competitive advantage What sets an organization apart, its distinctive edge. Quality as competitive advantage Design thinking as competitive advantage Social media as competitive advantage Sustaining competitive advantage Five forces model Threat of new entrants Threat of substitute Bargaining power of buyers Bargaining power of suppliers Current rivalry Choosing competitive strategy

7. Current strategic management issues The need for strategic leadership The ability to anticipate, evasion, maintain flexibility, think strategically, and work with others in the organization to initiate changes that will create a viable and valuable future for the organization. Determining the organization’s purpose or vision Exploiting and maintaining the organization's core competencies Developing the organization human capital. Creating and sustaining a strong organizational culture. Creating and maintaining organizational relationship. Reframing prevailing views by asking questions. Emphasizing ethical organizational decisions and practices. Establishing appropriately balanced organizational control.

8. The need for strategic flexibility strategic flexibility is to recognize major external changes, to quickly commit resources, and to recognize when a strategic decision was a mistake. Encourage leadership units by making sure everyone is on the same page. Keep resources fluid and move them as circumstances warrant. Have the right mind set to explore and understand issues and challenges. Know what’s happening wit strategies currently being used by monitoring and measuring results. Encourage employees to be open about disclosing and sharing negative information's. Get new ideas and perspectives from outside the organization. Learn from mistakes.

9. Important organizational strategies for today’s environment E-business strategies Customer services strategies Innovation strategies First mover advantage