新编第一章战略管理概述课件

1、Ch 1 -1Chapter 1 The Nature of Strategic ManagementStrategic Management: Concepts & Cases11th EditionFred DavidCh 1 -2Origin of strategyA strong military heritage underlies the study of strategic managementA key aim of both business and military strategy is to gain “competitive advantage”Business st

2、rategy is based on assumption of competition whereas military strategy is based on an assumption of conflictCh 1 -3Inputs Process (Transformation Activities)OutputsProducts & servicesFinancial resultsInformationHuman results (A system)External EnvironmentInternal EnvironmentCorporate & environmentsE

3、mployees work activitiesManagement activitiesTechnology and operations methodsHuman resourcesNonhuman resourcesRaw materialsCapitalTechnology InformationIndustrial environmentCh 1 -4Chapter objectiveDescribe the strategic management processExplain the need for integrating analysis and intuition in s

4、trategic management Define key terms in strategic managementCh 1 -5Historical development of strategic managementAnsoff felt that management could use these strategies to systematically prepare for future opportunities and challenges. Ch 1 -6Historical development of strategic managementThe prescrip

5、tive, deliberate or planned approach is based on long term planning which seeks to achieve a “fit” between organizational strategy and the environment in which it operatesThis approach views strategic management as a highly systematized and deterministic process ( Andrews, Ansoff, Argenti)Ch 1 -7His

6、torical development of strategic managementCriticism of the planning approachThe prescriptive paradigm of strategic management has been criticized as being unrealistic, particularly in times of rapid and turbulent change.Competitive advantage can be gained by being opportunistic and taking advantage

7、 of unforeseen opportunitiesCh 1 -81980s the development of modern strategy management Michael Eugene Porter （MEPorter）Michael Porter is the author of 18 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, Michael Porters core field is

8、 competition and company strategy. He is generally recognized as the father of the modern strategy field, and his ideas are taught in virtually every business school in the world. 1980s the development of modern strategy management Porters strategic system consists primarily of:Porters Five Forces A

9、nalysis strategic groups (also called strategic sets) the value chain the generic strategies of cost leadership, product differentiation, and focus the market positioning strategies of variety based, needs based, and access based market positions global strategy Porters clusters of competence for re

10、gional economic development Diamond model Ch 1 -9Historical development of strategic managementI/O View Industrial Organization View The Industrial Organization approach to competitive advantage advocates that external (industry) factors are more important than internal factors in a firm achieving c

11、ompetitive advantage.Ch 1 -10Ch 1 -11Historical development of strategic management Competitive Positioning Approach（outside-in）The first fundamental determinant of a firms profitability is industry attractiveness. Competitive strategy must grow out of a sophisticated understanding of the rules of c

12、ompetition that determine an industrys attractivenessBy determining the relative power of each of five forces, an organization can identify how to position itself to take advantage of opportunities and overcome or circumvent threatsCh 1 -12Historical development of strategic managementCriticisms of

13、competitive positioning approachMichael Porters models focus on the companys external competitive environment，and do not attempt to look inside the company Historical development of strategic management-1990sResource/Competence Based Approach (inside-out approach)Internal resources/competences are m

14、ore important for a firm than external factors in achieving and sustaining CAJay Barney: organizational performance will primarily be determined by internal resources :Physical resourcesplant, equipment, location, technology, raw materials, etc.Human resourcesemployees, training, experience, intelli

15、gence, knowledge, skills, abilitiesOrganizational resourcesfirm structure, planning processes, information systems, patents, trademarks, copyrights, databases, and so onCh 1 -13Ch 1 -14Historical development of strategic management-1990sGary Hamel, C.K.PrahaladCore competence： the one or two key thi

16、ngs that your company does better than the competition CA arises from an organizations internally developed core competence rather than from its environmentJohn KayBorrowing from Gary Hamel and Michael Porter, Kay claims that the role of strategic management is to identify your core competencies, an

17、d then assemble a collection of assets that will increase value added and provide a competitive advantage. He claims that there are 3 types of capabilities that can do this: innovation, reputation, and organizational structure Valuable resources /competences: rare; hard to imitate; not easily substi

18、tutableCh 1 -15Historical development of strategic managementResource-based view (2019，David J. Collins ,Cynthia A. Motgomery: Resources-based view of the firm. A firms unique resources and capabilities provide the basis for a strategy)The strategy chosen should allow the firm to best exploit its co

19、re competencies relative to opportunities in the external environmentHistorical development of strategic managementThe evaluation of value should not be limited to the inside of a company but should put the company into its industrial environment. The valuable resources owned by an individual compan

20、y can be found by comparing the companys resources with that of other companies. The resources mentioned here refer to the combination of various key factors, which can help the company realize its strategic goals during the process of the company serving the society with products or services. Compa

21、nies can be regarded as different combinations of various resources. Since these combinations differ from one to another, there are NO two companies that are completely same in the world. Only when a company owns the resources that suit its purposed businesses most can we say it has the most valuabl

22、e resources. A companys competitive advantage is determined by the valuable resources it has. Ch 1 -16It is not a question of whether external or internal factors are more important in gaining and maintaining CA.Effective integration and understanding of both external and internal factors, especiall

23、y understanding the relationships among them, will be the key to securing and keeping a competitive advantage.Ch 1 -17Ch 1 -18Strategic Management achieves a firms success through integration ManagementMISProduction/OperationsFinance/AccountingMarketingResearch & DevelopmentAlthough the strategic-ma

24、nagement process is overseen by strategists, success requires that managers and employees from all functional areas work together to provide ideas and information.Ch 1 -19Ch 1 -20 ExternalAuditInternalAuditLong-TermObjectivesGenerate,Evaluate,SelectStrategiesImplementStrategies:Mgmt IssuesImplementS

25、trategies:Marketing,Fin/Acct,R&D, CISMeasure &EvaluatePerformanceControl & continuous improvementVision & MissionComprehensive strategic management modelStrategy EvaluationStrategy ImplementationStrategy FormulationCopyright 2019 Prentice HallCh 1 -21Dynamic & ContinuousMore formal in larger organiz

26、ationsStrategic Management ModelStrategic Management ProcessCopyright 2019 Prentice HallCh 1 -22Vision & MissionStrategy FormulationExternal Opportunities & ThreatsInternal Strengths & WeaknessesLong-Term ObjectivesAlternative StrategiesStrategy SelectionCopyright 2019 Prentice HallCh 1 -23Strategy

27、ImplementationAnnual ObjectivesPoliciesEmployee MotivationResource AllocationCopyright 2019 Prentice HallCh 1 -24Strategy EvaluationInternal ReviewExternal ReviewPerformance MetricsCorrective ActionsCopyright 2019 Prentice HallCh 1 -25The strategic management process attempts to organize quantitativ

28、e and qualitative information under conditions of uncertaintyIntegrating Intuition and AnalysisCopyright 2019 Prentice HallCh 1 -26Intuition is based on:Past experiencesJudgmentFeelingsIntegrating Intuition and AnalysisIntuition is useful for decision making in:Conditions of great uncertaintyConditi

29、ons with little precedentCopyright 2019 Prentice HallCh 1 -27Organizations must monitor eventsOn-going processInternal and external eventsTimely changesAdapting to ChangeCopyright 2019 Prentice HallCh 1 -281. Adapting to change in external trends, internal capabilities and resourcesAchieving Sustain

30、ed Competitive Advantage2. Effectively formulating, implementing & evaluating strategiesCopyright 2019 Prentice HallCh 1 -29Key TermsVarious Job Titles:Chief Executive Officer (CEO)Chief Strategy Officer (CSO)PresidentOwnerBoard ChairExecutive DirectorStrategists Firms success/failureCopyright 2019

31、Prentice HallCh 1 -30Vision Statement What do we want to become?Mission Statement What is our business?Key TermsCopyright 2019 Prentice HallCh 1 -31Largely beyond the control of a single organizationKey Terms Opportunities and Threats (External)Copyright 2019 Prentice HallCh 1 -32Process of conducti

32、ng research and gathering and assimilating external informationKey Terms Opportunities & ThreatsEnvironmental Scanning (Industry Analysis)Copyright 2019 Prentice HallCh 1 -33Basic Tenet of Strategic ManagementKey Terms Opportunities & ThreatsStrategy FormulationTake advantage of External Opportuniti

33、esAvoid/minimize impact ofExternal ThreatsCopyright 2019 Prentice HallCh 1 -34Controllable activities performed especially well or poorlyKey Terms Strengths & Weaknesses (Internal)Copyright 2019 Prentice HallCh 1 -35Assessing the Internal EnvironmentKey Terms Strengths & WeaknessesInternal FactorsPe

34、rformance MetricsFinancial RatiosIndustry AveragesSurvey DataCopyright 2019 Prentice HallCh 1 -36Mission-driven pursuit of specified results more than one year outKey Terms Long-term ObjectivesCopyright 2019 Prentice HallCh 1 -37Long-term ObjectivesKey TermsEssential for ensuring the firms successPr

35、ovide directionAid in evaluationCreate synergyFocus coordinationBasis for planning, motivating, and controllingCopyright 2019 Prentice HallCh 1 -38Means by which long-term objectives are achievedKey Terms StrategiesCopyright 2019 Prentice HallCh 1 -39StrategiesKey TermsSome ExamplesGeographic expans

36、ionDiversificationAcquisitionMarket penetrationRetrenchmentLiquidationJoint ventureCh 1 -40 Mintzbergs five PsIn his article Five Ps for strategy, Mintzberg argues a strategy can be:A plan- it tends to imply something that is intentionally put in train and its progress is monitored from the start to

37、 a predetermined finish. A ploy- a manoeuvre intended to outwit an opponent or competitor.A pattern of behaviour is one in which progress is made by adopting a consistent form of behaviour.A position in respect to others in the environment A perspective changing the culture (the beliefs and the feel

38、, the way of looking at the world) of the members of an organization It is important NOT to see any of these five Ps in isolations from the othersHenry MintzbergMcGill university in MontrealCh 1 -41Deliberate and Emergent StrategyDeliberate strategy (or called planned or prescriptive strategy) is pr

39、econceived, premeditated, and usually monitored and controlled from start to finish. It has a specific objective.Emergent strategy has no prior intentions or specific objective. It may be as effective as deliberate strategy . By exploring, learning and piecing together a consistent pattern of behavi

40、our over time, an organization may arrive at the same position as if it had planned everything in detail.Copyright 2019 Prentice HallCh 1 -42Short-term milestones that firms must achieve to attain long-term objectivesKey Terms Annual ObjectivesCopyright 2019 Prentice HallCh 1 -43Means by which annua

41、l objectives will be achievedKey Terms PoliciesCh 1 -44Strategic Business UnitA strategic business unit is a semi-autonomous unit within an organization. It is usually responsible for its own budgeting, new product decisions, hiring decisions, and price setting. An SBU is treated as an internal prof

42、it centre by corporate headquarters. Each SBU is responsible for developing its business strategies, strategies that must be in tune with broader corporate strategies. Ch 1 -45Levels of strategyLevel of aggregationNetwork LevelCorporate LevelBusiness LevelFunctional LevelLevel of organizationAllianc

43、e/ Partnership Alliance/ Group Operating unit Functional department Ch 1 -46Network strategyMany businesses operate within a network of suppliers, distributors, customers and sometimes, competitorsCollaborative advantage through networks, strategic alliances and joint ventures can be important sourc

44、e of CACh 1 -47Levels of strategyCorporate strategy applies to the whole enterprise, more value oriented, more conceptual and less concreteIn multibusiness, it defines the businesses in which a company will compete and focuses resources to convert distinctive competence into competitive advantageCh

45、1 -48Business strategy ( competitive strategy) is the determination of how a company will compete in a given business and position itself among its competitorsCh 1 -49Operational strategy is concerned with the shorter term objectives of the business and with its day to day management which supports

46、business strategy and corporate strategyCh 1 -50Art & science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectivesStrategic Management Defined by F.R. DavidCh 1 -51Approaches to strategic managementPrescriptive - planning, pre

47、dictive, structured strategies must be intentionally designed and executed to deliberately fine-tune and control the organizations future behaviorEmergent - rapid change, unpredictable, unstructured, trial and adaptation incrementalism：not questioning the value of planning and control as a means for

48、 managing some organizational processes, but strategy formation is not one of them, planning and control are valuable for routine activities but not suitable for doing new things, for example, innovationCh 1 -52Our approach - assumptions1: strategy is both planned and emergent.2: competitive advanta

49、ge from both internal competences & changes in business environment.3: it is important to distinguish between industries and markets4: competitive advantage -from organisational learning, competitive & collaborative behaviour5: the complexity and unpredictability of business & environment - learning

50、 organisationsCopyright 2019 Prentice HallCh 1 -53Benefits of Strategic Management Financial Benefits Improvement in sales Improvement in profitability Productivity improvementCopyright 2019 Prentice HallCh 1 -54Benefits of Strategic Management Non-Financial Benefits Improved understanding of competitors strategies Enhanced awareness of threats Reduced resistance to change Enhanced problem-prevention capabilitiesCopyright 2019 Prentice HallCh 1 -55Benefits of Strategic Management (Greenley contd)Effective allocation o