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Chapter Eight

Chapter Eight. The Manager as a Planner and Strategist. Planning and Strategy. Planning Identifying and selecting appropriate goals and courses of action for an organization.

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Chapter Eight

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  1. Chapter Eight The Manager as a Planner and Strategist

  2. Planning and Strategy Planning Identifying and selecting appropriate goals and courses of action for an organization. The organizational plan that results from the planning process details the goals and specifies how managers will attain those goals.

  3. Levels of Planning Corporate-Level Plan Top management’s decisions pertaining to the organization’s mission, overall strategy, and structure. Provides a framework for all other planning. Corporate-Level Strategy A plan that indicates in which industries and national markets an organization intends to compete.

  4. Levels of Planning Business-Level Plan: Long-term divisional goals that will allow the division to meet corporate goals Division’s business-level and structure to achieve divisional goals

  5. Levels of Planning Functional-Level Plan Goals that the managers of each function will pursue to help their division attain its business-level goals Functional Strategy A plan of action that managers of individual functions can take to add value to an organization’s goods and services

  6. Determining the Organization’s Mission and Goals Defining the Business Who are our customers? What customer needs are being satisfied? How are we satisfying customer needs? Establishing Major Goals Provides the organization with a sense of direction

  7. Planning and Strategy Formulation Figure 8.5

  8. The Five Forces Level of rivalry in an industry Potential for new entrants Power of large suppliers Power of large customers Threat of substitute products

  9. Formulating Business-Level Strategies Low-Cost Strategy Driving the organization’s total costs down below the total costs of rivals. Differentiation Distinguishing the organization’s products from those of competitors on one or more important dimensions.

  10. Formulating Business-Level Strategies Focused Low-Cost Serving only one market segment and being the lowest-cost organization serving that segment. Focused Differentiation Serving only one market segment as the most differentiated organization serving that segment.

  11. Four Ways to Expand Internationally Figure 8.7

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