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Strategic Management Process, Strategic Planning

Strategic Management Process, Strategic Planning. Jessica Burns, Mike Baker, John Klinger. Strategic Management. Definition- the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives.

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Strategic Management Process, Strategic Planning

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  1. Strategic Management Process, Strategic Planning Jessica Burns, Mike Baker, John Klinger

  2. Strategic Management • Definition- the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives

  3. Stages of Strategic Management • Formulating- developing a vision and mission statement, identifying an organization’s external opportunities and threats, determining internal strengths and weaknesses, establishing long-term objectives, generating alternative strategies, and choosing strategies to pursue

  4. Stages of Strategic Management • Implementation- establish annual objectives, devise policies, motivate employees, and allocate resources so formulated strategies can be executed. • Evaluation-final stage, includes 3 fundamental activities • Reviewing external and internal factors as bases for current strategies • Measuring performance • Taking corrective actions

  5. Strategic Planning • Definition- an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy

  6. SWOT Analysis • Tool used to evaluate internal strengths and weaknesses and external opportunities and threats • Used in strategic planning

  7. Uncle Sam’s Pizza • 1432 Locus Lane State College, PA Small family based pizza shop located in downtown State College Pennsylvania dedicated to providing the best service and food at low prices

  8. Uncle Sam’s Pizza • Vision statement- to be recognized as a leader in our industry by communicating accurate information and providing exceptional service • Mission Statement- Our commitment to exceptional customer service and maximization of profits will be managed closely. By investing in technology and our diverse work force, we will be recognized for our strong financial performance and our commitment to our customers and employees. Our management team will regularly review our existing products and services as well as new ventures to ensure that we are maximizing the potential of our company. Our leadership team will be dedicated to seven core values: entrepreneurial culture, integrity, diversity, innovation, respect, efficiency, and community

  9. Objectives/Goals • Provide exceptional customer service • Timely delivery of products • Maintain low cost of production • Follow newest technology available

  10. SWOT • Strengths • Convenience • Customer service • Location • Pricing • Weaknesses • Time/cost • Employee training • Limited expansion • Competition

  11. SWOT • Opportunities • Open more locations • Re-evaluate operations • Evaluate technological advances • Threats • Competition-low barriers to entry, many other shops around • Small company- difficult to compete with large companies • Small profit margins

  12. Strategies • Strong marketing and advertising • Hire, train and motivate employees to provide exceptional service • Willingness to be flexible • Purchase only the best products • Capture market share by gaining customer loyalty

  13. Evaluation • Financial evaluation • Product evaluation • Employee evaluations • Customer surveys • Compare performance with similar sized pizza shops

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