logging in or signing up Strategic management nsraja_hhh Download Post to : URL : Related Presentations : Let's Connect Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Copy embed code: Embed: Flash iPad Dynamic Copy Does not support media & animations Automatically changes to Flash or non-Flash embed WordPress Embed Customize Embed URL: Copy Thumbnail: Copy The presentation is successfully added In Your Favorites. Views: 4013 Category: Education License: All Rights Reserved Like it (1) Dislike it (0) Added: April 26, 2009 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: miko444 (42 month(s) ago) good Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Chapter 1 The Nature of Strategic Management : Chapter 1 The Nature of Strategic Management Slide 2: Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives. Strategic Management – Defined Slide 3: Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection Slide 4: Strategy Implementation Annual Objectives Policies Employee Motivation Resource Allocation Slide 5: Strategy Evaluation Internal Review External Review Performance Metrics Corrective Actions Slide 6: 1. Adapting to change in external trends, internal capabilities and resources Achieving Sustained Competitive Advantage 2. Effectively formulating, implementing & evaluating strategies Slide 7: What kind of business should we become? Are we in the right fields Are there new competitors What strategies should we pursue? How are our customers changing? Adapting to Change – Key Strategic Management Questions Slide 8: Vision Statement – What do we want to become? Mission Statement – What is our business? Key Terms Slide 9: Opportunities & Threats (External) Key Terms Analysis of Trends: Economic Social Cultural Demographic/Environmental Political, Legal, Governmental Technological Competitors Slide 10: Strengths & Weaknesses (Internal) Key Terms Typically located in functional areas of the firm Management Marketing Finance/Accounting Production/Operations Research & Development Computer Information Systems Slide 11: Means by which long-term objectives are achieved Key Terms Strategies Comprehensive strategic management model : External Audit Chapter 3 Internal Audit Chapter 4 Long-Term Objectives Chapter 5 Generate, Evaluate, Select Strategies Chapter 6 Implement Strategies: Mgmt Issues Chapter 7 Implement Strategies: Marketing, Fin/Acct, R&D, CIS Chapter 8 Measure & Evaluate Performance Chapter 9 Vision & Mission Chapter 2 Comprehensive strategic management model Slide 13: Benefits of Strategic Management Financial Benefits Improvement in sales Improvement in profitability Productivity improvement Slide 14: Benefits of Strategic Management Non-Financial Benefits Improved understanding of competitors strategies Enhanced awareness of threats Reduced resistance to change Enhanced problem-prevention capabilities Slide 15: Provides basis on which policies can be devised to guide daily behavior and decisions in the workplace Business Ethics & Strategic Management Code of business ethics – Slide 16: Advantages of International Operations Absorb excess capacity Reduce unit costs Spread risk over wider markets Low-cost production facilities Slide 17: Disadvantages of International Operations Difficult communications Underestimate foreign competition Cultural barriers to effective management Complications arising from currency differences You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.