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Strategic
Management
Strategy Implementation
Strategy implementation is the set of
actions firms take to use a strategy
after it has been selected.
Industrial-Organizational Model
Firms use the I/O model to identify
opportunities and threats.
Opportunities are conditions in the
firms external environment that may
help the firm reach its vision.
Threats are conditions in the firms
external environment that may
prevent the firm from reaching its
vision.
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Industrial-Organizational Model
Examining conditions in Studying
the firms external environment to
assess their effects on the firm
Identifying
Selecting
Choosing the strategy called
by the influences of the firms
external environment
Implementing
Using the firms resources to implement the chosen strategy
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Identifying
Determining what the firms
resources allow it to do better than
competitors
Selecting
Choosing the strategy suggested
by the firms competitive
advantages and an industry in which to use the advantages
Implementing
Using the firms resources, capabilities, and core competencies to implement
the chosen strategy
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Stakeholders
Individuals and groups who have an
interest in a firms performance and
an ability to influence its actions
Interest in performance coupled with
ability to influence the firm through
their decision to support the firm or
not companies have important
relationships with their stakeholders.
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Stakeholders Groups
Owners
Individual Shareholders
Institutional Shareholders
Internal Stakeholders
Employees
Managers
External Stakeholders
Customers
Suppliers
Local Communities
Government Agencies
General Society
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Strategic Leaders
Individuals who practice strategic
leadership making sure that
decisions are made that will ensure
their firms success.
The CEO
The Board of Directors
Both are responsible for setting the
organizational culture.
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Strategic Leaders
though many different people may be
involved, the final responsibility for
effective use of the strategic
management process rests with the
firms top-level strategic leaders (i.e.,
the chief executive officer and the
top management team). In addition,
it is important to note that the best
strategic leaders as well as all others
throughout the firm also act ethically.
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Organizational Culture
Organizational culture is the set of
values and beliefs that are shared
throughout the firm. Values reflect
what is important, while beliefs
speak to how things should be done.
Intangible in nature, culture cant be
touched or seen, but its presence is
felt throughout every organization.
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Organizational Culture
Ethics are concerned with the
standards for deciding what is good
or bad, right or wrong as defined by
most members of a particular
society. In an organizational context,
ethics reveal a value system that has
been widely adopted by the firms
employees and that other
stakeholders recognize as an
important driver of decisions and
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