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Unit8StrategicManagement
3Describethethreestagesofstrategicmanagement.Differentiatecorporate-,business-,andfunctional-levelstrategies.LearningObjectives4Strategicmanagementisthatsetofmanagerialdecisionsandactionsthatdeterminesthelong-runperformanceofanorganization.5Tacticitselfisashorttermgoalthatcanwinthebattle,butstrategyisalongtermgoalthatcanwinthewar.Acountrycanwinmanybattlesbutstilllosethewarwithtactics.Acountrycanlosemanybattlesbutstillwinthewarwithstrategy.Tacticisjustasmallpieceofthepuzzle.Strategyistheoverallpictureofthepuzzle.TacticwinstheBattle,StrategywinstheWar6StrategyformulationStrategyimplementationStrategyevaluation3StagesofStrategicManagement7(1)developingabusinessmission;(2)identifyinganorganization’sexternalopportunitiesandthreats;(3)determininginternalstrengthsandweaknesses;StrategicFormulation8(4)establishinglong-termobjectives;(5)generatingalternativestrategies;(6)choosingparticularstrategiestopursue.StrategicFormulation9SWOTanalysisreferstotheanalysisofthefirm’sexternalopportunitiesandthreatsaswellastherecognitionofitsinternalstrengthsandweaknessessoastoidentifyastrategicnichethattheorganizationmightexploit.SWOTAnalysis10corporate-levelstrategiesbusiness-levelstrategiesfunctional-levelstrategies3typesoforganizationalstrategies11Acorporate-levelstrategyseekstodeterminewhatbusinessesacompanyshouldbeinorwantstobein.Itdeterminesthedirectionthattheorganizationisgoingandtherolesthateachbusinessunitintheorganizationwillplayinpursuingthatdirection.Corporate-LevelStrategy12Themostpopularapproachesfordescribinganorganization’scorporate-levelstrategiesare:grandstrategiescorporateportfoliomatrixCorporate-LevelStrategy13Grandorall-encompassingstrategieschieflyfallintothreedirections:corporategrowthstrategycorporatestabilitystrategycorporateretrenchmentstrategyGrandStrategies14Itseekstoincreasetheleveloftheorganization’soperations.Thisincludesincreasingsuchpopularquantitativemeasuresassalesrevenues,numberofemployees,andmarketshare.TheGrowthStrategy15Growthcanbeachievedthrough:directexpansionverticalintegrationhorizontalintegrationdiversificationTheGrowthStrategy16Itischaracterizedbyanabsenceofsignificantchange.Examplesofthisstrategyincludecontinuingtoservethesameclientsbyofferingthesameproductorservice,maintainingmarketshare,andsustainingtheorganization’sreturn-on-investmentresults.StabilityStrategy17Itisdesignedtoaddressorganizationalweaknessesthatareleadingtoperformancedeclines.Itcanhelpanorganizationstabilizeoperations,revitalizeorganizationalresourcesandcapabilities,andpreparetocompeteonceagain.RetrenchmentStrategy18Itseekstodeterminehowanorganizationshouldcompeteineachofitsbusiness.AdaptiveStrategiesCompetitiveStrategiesBusiness-LevelStrategy19Itidentifiesfourstrategictypes:defenders(防守型)prospectors(开拓型)analyzers(分析型)reactors(被动反应型)
AdaptiveStrategies20costleadershipdifferentiationfocusCompetitiveStrategies21Itseekstodeterminehowtosupportthebusiness-levelstrategy.Theorganizations’traditionalfunctionaldepartmentsinvolvemanufacturing,marketing,humanresources,researchanddevelopment,andfinance.Functional-LevelStrategy22Thestrategicmanagementprocessdoesnotendwhenthefirmdecideswhatstrategyorstrategiestopursue.Theremustbeatranslationofstrategicthoughtintostrategicaction.StrategyImplementation23(1)examiningtheunderlyingbasesofafirmstrategy;(2)comparingexpectedresultswithactualresults;(3)takingcorrectiveactionsto
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