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An Integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage
- By Management Consultant
The chosen Strategy indicates what the organization will do as well as what the organization will not do.
An organization has a competitive advantage when it implements its strategy that competitors are unable to duplicate.
Organization Must understand no Competitive advantage is permanent. It will last permanent till the competitors are able to acquire the skills need to duplicate the strategy
Average returns are returns equal to those an investor expects to earn from other investments with a similar amount of risk
Above average returns are returns in excess of what an investor expects to earn from other investments with a similar amount of risk
Core Competencies are capabilities that serve as a source of competitive advantage for an organization over its rivals
WHAT IS RISK?
A Risk is an investors uncertainty about the economic gains or losses that will result from an particular investment
It is the full set of commitment and actions required for an organization to achieve strategic competitiveness and earn above average returns
It is achieved when an organization successfully formulates and implements a value creating strategy
It is a set of capabilities used to respond to various demands and opportunities existing in a dynamic and uncertain competitive environment
Resources are input in to a organizations production process, such a capital, equipment, the skills of individual employees, patents, finances and talented workforce
WHAT IS CAPABILITY?
A Capability is the capacity for a set of resources to perform a task or an activity in an integrated manner
A Global Economy is one in which the goods, services, people, skills and ideas move freely across geographic borders
WHAT IS GLOBALIZATION?
It is the increasing economic inter dependence among countries and their organizations as reflected in the flow of goods and services, final capital, and knowledge across country borders. Globalization is a product of a large number of organizations competing against one another in a increasing no of global economies
The technologies that destroyed the value of existing technologies and create new markets
WHAT IS VISION?
Vision is a picture of what the organization wants to be and in broad terms, what it wants to ultimately achieve
WHAT IS MISSION?
A mission specifies a business or businesses the organization intents to compete and the customers intents to serve
Vision Mission
Strategy Formulation
BusinessLevel Strategy Merger and Acquisition Strategies Competitive Rivalry and Competitive Dynamics International Strategy CorporateLevel Strategy Cooperative Strategy
Strategy Implementation
Corporate Governance Organizational Structure and Controls Strategic Entrepreneurship
Strategic Leadership
Many leaders today do not understand the ongoing, intimate connection between leadership and strategy. Specialists help managers analyze their industries and position their businesses for competitive advantage, and strategy has become largely a job for experts, or something confined to an annual planning process. What's been forgotten is that strategy is not a destination or a solution. It's not a problem to be solved and settled. It's a journey. It needs continuous, not intermittent, leadership. It needs a strategist.
No matter how carefully conceived, or how well implemented, any strategy put into place in a company today will eventually fail if leaders see it as a finished product.
The strategist is the one who must shepherd this ongoing process, who must watch, identify and decide and move, time and time again. The strategist is the one who may decline certain opportunities and pursue others. Consultants' expertise and considered judgments can be considered, but, in the end, it is the strategist who bears the responsibility for setting a firm's course and making the choices day after day that continuously refine that course.
That is why strategy and leadership must be reunited at the highest level of an organization. All leaders shall own strategy as the heart of their responsibilities.
Demographic Segment
Population size Age structure Geographic distribution Inflation rates Interest rates Trade deficits or surpluses Budget deficits or surpluses Antitrust laws Taxation laws Deregulation philosophies
Economic Segment
Political/Legal Segment
Sociocultural Segment
Women in the workforce Workforce diversity Attitudes about the quality of work life
Shifts in work and career preferences Shifts in preferences regarding product and service characteristics
Technological Segment
Focus of private and government-supported R&D expenditures New communication Technologies Newly industrialized countries Different cultural and institutional attributes Availability of water as a resource Producing environmentally friendly products
Global Segment
Energy consumption Practices used to develop energy sources Renewable energy efforts Minimizing a firms environmental footprint
Demographic Industry Environment Treat of New Entrants power of suppliers Power of Buyers Product Substitutes Intense of Rivalry Competitor Environment
Physical
Political/Legal
Sociocultural
Technological
Global
Power of Suppliers
Power of Customers