Strategic management ppt presentation in English

Strategic management

1. School of Business Course Code: MBDS6003 Course Name: Strategic Management Module 1 : Introduction to Strategic management Name of the Faculty: Dr. M C Rashid Program Name: MBA

2. School of Business Course Code: MBDS6003 Course Name: Strategic Management MBDS6003 Course Outcomes Name of the Faculty: M C Rashid Program Name: MBA CO No. Course Outcomes CO1   Illustrate the basic concepts of strategic management and explain strategic management process. K2 CO2 Analyse the environmental factors for planning suitable strategies to take appropriate decisions. K3 CO3 Formulate appropriate and innovative strategies and programs/action plans to address the strategic issues and to achieve the company's objectives K6 CO4 Examine the relationship between strategy and structure and implementation strategy effectively. K5 CO5 Adept to change for the growth and expansion of the organization K6

3. School of Business Course Code: MBDS6003 Course Name: Strategic Management Topics to be Covered Name of the Faculty: M C Rashid Program Name: MBA Define strategy and strategic Management Nature and scope of strategic management The origin of strategic Management Strategic Management process

4. School of Business Course Code: MBDS6003 Course Name: Strategic Management What is Strategy? Name of the Faculty: M C Rashid Program Name: MBA The dictionary meaning of strategy is a plan of action designed to achieve a long-term goal . But in the context of organizations this definition needs to be reworked. “The determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals” is what strategy is all about. “Strategy is a deliberate search for a plan of action that will develop a business’s competitive advantage and compound it.” Bruce Henderson Strategy has the ability to create unique and valuable position that is not easily imitated by others and therefore Strategy is what allows a firm to create and protect its competitive advantage. Porter

5. School of Business Course Code: MBDS6003 Course Name: Strategic Management Origin of Strategic Management Name of the Faculty: M C Rashid Program Name: MBA The origin of strategic management can be traced back to the mid-20th century. Before this period, business management was primarily focused on day-to-day operations and efficiency, with little attention given to long-term planning and adaptation to the external environment. However, in the 1950s and 1960s, several factors contributed to the emergence of strategic management as a distinct discipline: The word ‘strategy’ has entered in the field of management from military where it refers to apply the forces against an enemy to win a war. Originally, the word strategy has been derived from Greek ‘ strategos ’ which means generalship. The word was used first time around 400 BC. The word strategy means the art of the general to fight in war.

6. School of Business Course Code: MBDS6003 Course Name: Strategic Management Origin of Strategic Management Name of the Faculty: M C Rashid Program Name: MBA War and strategy are not new concepts, what is new is the increased emphasis of strategy in business context. Igor Ansoff pioneered the concept of strategy. Later Henry Mintzberg Peter Drucker and Michael E Porter enriched the concept of strategic management with their original insights.

7. School of Business Course Code: MBDS6003 Course Name: Strategic Management Strategic Management Name of the Faculty: M C Rashid Program Name: MBA Strategic Management can be defined as set of decision and actions resulting in formulation and implementations of strategies designed to achieve the objectives of an organization. Strategic management refers to the process of formulating, implementing, and continuously adjusting organizational strategies to achieve specific goals and objectives. It involves making decisions about resource allocation, setting priorities, and adapting to changes in the internal and external environment. Strategic management helps organizations stay competitive and navigate uncertainties by aligning their actions with their long-term vision.

8. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA Essence and Nature of Strategy Strategy includes the determination and evaluation of alternative paths to an already established mission or objective and Eventually, choice of the alternative to be adopted. Strategy is characterized by four important aspects. • Long term objectives • Competitive Advantage, brand image, technological expertise, customer service, or a distribution network . • Vector • Synergy

9. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA Strategy Vs Tactics Strategy: Broad plan of action by which an organization intends to reach its objectives and fulfill its mission. Example: Our strategy is to grow sales and profits of our existing products and to broaden our business by introducing new products Tactics : Action plans devised for guiding the implementation of activities specified in the strategic plan. Example: Company will use its widespread distribution via Delhi supermarkets to increase sales by introducing new products.

10. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA S trategic Management Process Defining Strategic Intent Strategy Formulation *Environmental and Organizational Analysis *Identification of Strategic Alternatives, Choice of Strategy Implementation of Strategy Evaluation and Control

11. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA STRATEGIC INTENT Core Values Vision Mission Objectives Policies Business Definition Business Model

12. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA Core Values Corporate core values are the guiding principles that shape the culture, behavior, and decisions of a company. They are the foundation of a company's identity and what sets it apart from its competitors. The entire organization structure revolves around the philosophy coming out of core values.

13. Defining the Business Vision A business vision is a statement that describes what the company wants to achieve in the future. It is typically long-term, aspirational, and inspirational. A good business vision should be clear, concise, and memorable. A well conceived vision comprises two main components. 1. Core ideology: what we aspire to become, to achieve, to create, 2. An envision future Vision should reflect the concerns of stakeholders such as share holders, customers, the local community and society in order to be effective. 13

14. Defining the Mission Mission statement is a broad statement of corporate purpose as it explains the existence of corporate entity and what it wants to accomplish It provides direction to the entire organization What is our business? What will it be? And what should it be? These questions determine the purpose of the mission. A mission statement addresses the organizations fundamental reason for existing and specify the functional role that the organization is going to adopt in its market place.

15. Objectives Objectives refer to the ultimate end results which are to be accomplished by the overall plan over a specified period of time. The vision, mission and business definition determine the business philosophy to be adopted in the long run. The goals and objectives are set to achieve them. To make our brand number 1 in terms of market share by end of 2021.

16. Policies A policy is a broad guideline for decision making that links the formulation of a strategy with its implementation. Companies use policies to make sure that employees throughout the firm make decisions and take actions that support the corporation’s mission, objectives, and strategies.

17. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA Business Policies Business policies are specific guidelines, rules, or principles established by an organization to guide decision-making and actions consistently. These policies help maintain consistency, standardize procedures, and ensure that employees and stakeholders follow established guidelines in various aspects of the business. Business policies can cover a wide range of areas, including human resources, finance, operations, marketing, and customer service.

18. Business Definition A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause. The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit. Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services)

19. Business Model A business model is a framework that describes how a company creates, delivers, and captures value. It is a blueprint for how a company will make money. Brick-and-mortar retail: E-commerce: Amazon, Flipkart, and Alibaba. Subscription:  Netflix, Spotify, and Adobe Creative Cloud Freemium: Spotify, Zoom, and Canva. Advertising-based: Google, Facebook, and YouTube.

20. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA Strategy Formulation It refers to the development of long term plans for managing opportunities and threats in the external environment and utilizing the strength and overcoming the weaknesses within the organization. A strategist take into consideration components of strategic management such as vision, mission, core values, external environment, strategic alternatives and choices, long term objectives, annual objectives, grand strategy while formulating a strategy.

21. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA ENVIRONMENTAL AND ORGANIZATIONAL ANALYSIS Involves monitoring the environment Evaluating and disseminating information Identify strategic factors that may determine the future of the firm Develop common perception, identification of strength and weaknesses, understanding trends, Tools such as survey, focus group, and open forums can be employed in environment scanning. SWOT analysis

22. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA IDENTIFICATION OF STRATEGIC ALTERNATIVES S trategic alternatives revolve around the question whether to continue or change the business. According to Glueck , there are basically four grand strategic alternatives: Stability Expansion Retrenchment Combination

23. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA CHOICE OF STRATEGY The strategic choice is a decision making process which looks into the following steps: Focusing on strategic alternatives Evaluating strategic alternatives Considering decision factors – objective factors and subjective factors. Finally, making the strategic choice.

24. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA IMPLEMENTATION OF STRATEGY The process by which strategies are put into action is called strategy implantation. Program, budgets and procedures are developed for this purpose. This process may call for changes in over all culture, organizational structure and management system. The implementation of strategy is typically handled by middle and lower level managers, except when drastic company wide changes are needed Implementation is reviewed by top management from time to time.

25. Evaluation It is the primary means to know when and why particular strategies are not working well. It is the process in which corporate activities and performance results are monitored so that actual performance can be compared with desired performance. Thus strategic evaluation activities include reviewing external and internal factors that are the basis for current strategies

26. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA EVALUATION AND CONTROL Evaluation and control refer to the processes in which corporate activities and performance results are compared with the desired performance. Know the weaknesses of strategic plans implemented earlier Used to take corrective action and resolve problems Provide valuable organizational learning

27. Control Control is exercised by mangers in the form of four steps: Setting performance standards Measuring actual performance Analyzing variance Taking corrective actions After evaluation and control, the strategy process continues in an efficient manner. The effectiveness could be assessed only when the strategy helps in the fulfillment of organizational objectives.

28. School of Business Course Code: MBDS6003 Course Name: Strategic Management Strategic thinking and strategic Decisions Name of the Faculty: Dr. M C Rashid Program Name: MBA Strategic decisions are typically characterized by the following features: Strategic decisions: Tend to have a long-term orientation. Focus on the “Big Picture”. Have significant cross-functional implications. Involve a significant commitment of resources. Are not easily reversible. Involve a conscious choice of what to do and what not to do.

29. School of Business Course Code: MBDS6003 Course Name: Strategic Management Name of the Faculty: Dr. M C Rashid Program Name: MBA References Strategic Management and Business Policy: Globalization, Innovation, and Sustainability, Thomas L. Wheelen , J. David Hunger, Alan N. Hoffman, and Charles E. Bamford, 15th Edition, Pearson Education, 2018. Strategic Management, Hitt Michael A, Ireland R. Duane, Hoskisson Robert E., 12th Edition, Cengage Learning, 2016