Strategic framework - strategic management - Manu Melwin Joy

Strategic management is a process that involves building a careful understanding of how the world is changing, as well as knowledge of how those changes might affect a particular firm.

1. Strategic Framework Strategic Management

2. Prepared By Kindly restrict the use of slides for personal purpose. Please seek permission to reproduce the same in public forms and presentations. Manu Melwin Joy Assistant Professor Ilahia School of Management Studies Kerala, India. Phone – 9744551114 Mail – [email protected]

3. Strategic Framework Vision, mission, objectives and goals

4. Vision - Definition Vision statement answers the question “What will success look like?”.

5. Characteristics of vision A basis of performance. Reflects core values. Way to communicate.

6. Examples of vision statement Hindustan Lever Ltd – Our vision is to meet the everyday needs of people everywhere.

7. Mission - Definition Mission statement is a statement of purpose and function. It answers the following questions. Why the organization does exist? What is its value addition? What is its function? How does it want to be positioned in the market and minds of customer? What business is it in?

8. Characteristics of mission It draws on the belief systems. It must be future oriented and portray your organization as it will be, as if it already exists It must focus on one common purpose. It must be specific to the organization, not generic.

9. Example of Mission Statement Ranbaxy Laboratories Ltd – Our mission is to become a research based international pharmaceutical company.

10. Strategic Goals Strategic goals address the key question “ Where do we wish to arrive and when?”.

11. SMART Goals

12. Nike’s strategic goals Protect Nike’s position as the number one athletic brand in America. Build a strong momentum in the growing fitness market. Intensify the company’s efforts to develop products that women need and want.