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BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT

STRATEGIC MANAGEMENT. BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT. Slide Presentation by : Riema Afriani. RAK_IM Telkom_MM Eks 23_CSBD MODULE_ 2009. STRATEGIC MANAGEMENT. 3 central questions in thinking strategically. Where are we now ? ( swot ) Where do we want to go ? (target)

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BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT

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  1. STRATEGIC MANAGEMENT BASIC CONCEPT OF : STRATEGY & STRATEGIC MANAGEMENT Slide Presentation by : RiemaAfriani RAK_IM Telkom_MMEks 23_CSBD MODULE_ 2009

  2. STRATEGIC MANAGEMENT 3 central questions in thinking strategically • Where are we now ? (swot) • Where do we want to go ? (target) • How will we get there ? (strategy?)

  3. STRATEGIC MANAGEMENT The History of “Strategy” • has been borrowed from the military • in the military, strategy is same with tactics • strategy often refers to maneuvering troops into position before the enemy is actually engaged • “strategy is the art as a means to gain the object of war"

  4. What is Strategy? • A combination of the words stratos, which meant “army”, and agein meaning “to lead”. Greek Language (6th century BC)

  5. Strategic Management Process of formulating, implementing, and evaluating, strategies to accomplish long-term goals and sustain competitive advantage.

  6. STRATEGIC MANAGEMENT Basic Concepts What is strategy? • Strategy as positioning. • Strategy as visioning Strategic Management? • Set of managerial decisions and actions that determines the long-run performance of a firm.

  7. STRATEGIC MANAGEMENT The Essence of Strategy(Thompson & Strickland,2001) Selecting one position that a company can claim as its own A Strategic Position is simply the sum of company’s answers to the questions : Who should the company target as customers ? What products or services should the company offer the targeted customers ? How the company efficiently conduct business ?

  8. STRATEGIC MANAGEMENT The Essence of Strategy(Wheelen & Hunger,2008) Describe your company’s mission statement, vision and values…

  9. STRATEGIC MANAGEMENT 4 Phases ofStrategic Management • Basic financial planning • Forecast-based planning • Externally-oriented planning • Strategic management

  10. STRATEGIC MANAGEMENT Challenges to Strategic Management • Globalization • Internationalization of markets and corporations • Electronic Commerce • Use of the Internet to conduct business transactions • Ethics and Governance

  11. Basic Model of Strategic Management Four Basic Elements

  12. STRATEGIC MANAGEMENT Environmental Scanning The monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the firm.

  13. Environmental Scanning Opportunities & Threats (External) • Analysis of Trends: • Economic • Social • Cultural • Demographic/Environmental • Political, Legal, Governmental • Technological • Competitors

  14. Environmental Scanning Strengths & Weaknesses (Internal) • Typically located in functional areas of the firm • Management • Marketing • Finance/Accounting • Production/Operations • Research & Development • Computer Information Systems

  15. STRATEGIC MANAGEMENT Strategy Formulation Development of long-range plans for the effective management of environmental opportunities and threats in light of corporate strengths and weaknesses.

  16. Strategy Formulation Vision Statement – What do we want to become? Mission Statement – What is our business?

  17. To be the happiest place on earth. To be the world’s best quick service restaurant. Vision Examples

  18. Mission Statement Example The Bellevue Hospital, with respect, compassion, integrity, and courage, honors the individuality and confidentiality of our patients, employees, and community, and is progressive in anticipating and providing future health care services. -- The Bellevue Hospital

  19. Strategy Implementation Programs Budgets Procedures

  20. Strategy Evaluation & Control Internal Review External Review Measuring Performance Strategic audit

  21. STRATEGIC MANAGEMENT Goals & Objectives • Profitability (net profits) • Growth (increase in total assets, etc.) • Utilization of resources (ROE or ROI) • Market leadership (market share)

  22. ELEMENTS OF A DYNAMIC STRATEGY Find unique strategic position in current industry Compete in this position by becoming better than industry competitor Jump in to different industry, repeat process Make transition from old position to new Search for new strategic positions Manage old & new positions simultaneously

  23. "Effective managers live in the present – but concentrate on the future." (James L. Hayes )

  24. THANK U

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