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Develop Mission & Vision

Strategic Management Framework. Develop Mission & Vision. Perform Situational Analysis. Set Objectives & Craft Strategies. Feedback. Implement Strategy. Assess Value Creation & Provide Feedback. Environmental Variables. Macro- Environment. Industry Environment. Technological.

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Develop Mission & Vision

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  1. Strategic Management Framework Develop Mission & Vision Perform Situational Analysis Set Objectives & Craft Strategies Feedback Implement Strategy Assess Value Creation & Provide Feedback

  2. Environmental Variables Macro- Environment Industry Environment Technological Economic Internal Environment Demographic Social Political Global Wheelen p. 11

  3. Economic Variables Cost of Money Consumer debt levels Consumer Price Index Currency value/rates Gov’t deficit GDP GNP Housing starts Capital Spending Demographic Variables Age distributions Gender Family size Income levels Occupation trends Education Religion Race External Forces

  4. Social Variables Attitude toward: Savings Material Goods Business Represented Minorities Work & Careers Leisure time Importance of: Environmental Issues Family & Religion Political/Legal Variables Gov’t Regs/De-Regs Consumer Laws Local/National Elections Judicial System Levels of Gov’t spending Gov’t Fiscal Policy Voter Participation External Forces

  5. Technological Variables Biotechnology/Pharmaceuticals Consumer Electronics Robotics and AI Handling Industrial Waste Food Additives Satellite Tech. & Imaging Total Fed Spending on R&D Fed protected tech. released to commercial world Changes in Info tech. External Forces

  6. Cluster Interactions in the Macro Environment Demographic/ Socio-cultural Cluster Economic Cluster Political/ Legal Cluster Technological Cluster

  7. The Nature of Industry Change Incremental vs. Radical • We naturally assume incremental • How do we identify radical?

  8. Scenario Planning • Identifies key factors that influence decision making • Derives driving forces that influence these factors • Evaluates importance and uncertainty • Composes plots for alternate futures • Identifies indicators and trigger events

  9. Game Theory Who are the players? Anyone who effects your earnings • Never assume that your opponents’ behavior is fixed. • Predict their reaction to your behavior. • When the rules of the game are flexible manipulate them to your advantage.

  10. Environmental Variables Macro- Environment Industry Environment Growth rate Competitors Internal Environment Customers Suppliers Community Shareholdrs Wheelen p. 11

  11. Industry Matrix Key Success Company Weighted Factors Weight Rating Score 1 2 3 4 8- 10 factors Sum is 1.0 (most Important to Least important) Complete for company A & B (Outstanding 5 To Poor 1) Complete for company A & B (column 2 X Column 3, ranging 1 to 5 ) 1.0 Total Table 3-3 Wheelen p. 69 and Table 3-4 p. 74

  12. Six Forces Driving Industry Competitiveness Bargaining Power of Suppliers Bargaining Power of Customers Substitute Products Rivalry Among Firms Bargaining Power of Stakeholders Entry of New Competitors

  13. SEES Model • Scanning • Searching for current • And emerging trends • Sharing • Disseminating • Information • Encouraging employee • participation “SEES” External Audit Process • Estimating • Forecasting • future trends • Evaluating • Attaching significance • Identifying opportunities • & threats

  14. Become an Extension of Your Customer’s Organization Company Organizations Customer Organizations Marketing Marketing Design & Development Product Development Quality Engineering Quality & Procurement Sales Sales & Purchasing

  15. Determining Market Size • Third party Data • Your Industry End Product Market • Research Groups • Industry Participants-i.e. suppliers • Market Research Firms • Government data • Industry forecasts Top Down Data JUDGE TO ALIGN • Internal Data • Marketing Sales • Specific customers • Specific programs • Units & $ forecast • Pricing assumptions Bottom Up Data

  16. Strategic Management Framework Develop Mission & Vision Perform Situational Analysis Internal Audit Set Objectives & Craft Strategies Feedback Implement Strategy Assess Value Creation & Provide Feedback

  17. Where the Money Goes • Co –op advertising and discounts to retailers .85 • Pressing album and printing booklet .75 • Profit to Label .59 • Retail Markup 6.22 • Company overhead, distribution & shipping 3.34 • Marketing and Promotion 2.15 • Royalties to artist and songwriter 1.99 • Signing act and producing the record 1.08 16.98

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