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Strategies, Policies and

Planning Premises

Strategy

A companys strategy consists of the competitive moves,


internal operating approaches, and action plans devised by
management to produce successful performance.

Strategy is managements game plan for running the


business.

Managers need strategies to guide HOW the organizations


business will be conducted and HOW performance targets
will be achieved.

Levels of Strategy
1. Corporate-level Strategy
The set of strategic alternatives that an organization chooses
from as it manages its operations simultaneously across
several industries and several markets.

2. Business-level Strategy
How the organization conducts business in a particular
industry.

3. Functional-level Strategy
Strategy developed for specific functional areas
such as marketing, finance, and so forth.

Levels of Strategy-Making
Corporate
Strategy

Business
Strategies

Functional
Strategies

BCG Matrix*
Market Growth Rate

High
Stars

Cash
Cows

Question
Marks

Dogs

Low
High

Relative Market Share

Low

BCG Market Share/Market Growth Matrix

What is Strategic Planning?


Strategic planning is a systematic process through
which an organization agrees on and builds
commitment among key stakeholders to
priorities that are essential to its mission and are
responsive to the environment.
Strategic Planning guides the acquisition and
allocation of resources to achieve these
priorities.

Strategic Planning
vs. Operational Planning
Strategic Planning

Operational Planning

formulation
What, where
ends
vision
effectiveness
risk

implementation
how
means
plans
efficiency
control

Three Big Strategic Questions


Where Are We Now?
Where Do we Want to
Go?
How Will We Get
There?

Strategic Planning Process

Developing a Vision and a Mission


Assessment
Setting Objectives
Crafting a Strategy
Implementing and Executing Strategy
Evaluating Performance, Reviewing the
Situation and Initiating Corrective Action

Strategic Planning
First Stage of Strategic Planning
may involve:
Futures Thinking
Thinking about what the business
might need to do 1020 years ahead

Strategic Intents
Thinking about key strategic themes
that will inform
decision making

Strategic Planning
The Vision
Communicating to all staff where the
organisation is going and where
it intends to be in the future
Aims and Objectives:
Aims long term target
Objectives the way in which you are going
to achieve the aim

Strategic Analysis
Constantly evaluate their position
Strategic analysis includes different methods of
assessing the current position of the business in the
market place
Two basic methods:
Internal
External

SWOT
Analysis

Vision & Mission


An organizations fundamental purpose

SWOT Analysis
To formulate strategies that support the mission

Strengths
Weaknesses
Opportunities
Threats

Internal Analysis
Strengths
(distinctive
competencies)
Weaknesses

External Analysis
Opportunities

Threats

Good Strategies
Those that support the mission and:
exploit opportunities and strengths
neutralize threats
avoid weaknesses