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1、8 8thth edition editionSteven P.RobbinsSteven P.RobbinsMary CoulterMary CoulterPowerPoint Presentation by Charlie CookPowerPoint Presentation by Charlie CookCopyright 2005 Prentice Hall,Inc.Copyright 2005 Prentice Hall,Inc.All rights reserved.All rights reserved.L E A R N I N G O U T L I N E Follow
2、this Learning Outline as you read and study this chapter.The Importance of Strategic ManagementExplain why strategic management is important.Discuss what studies of the effectiveness of strategic management have shown.The Strategic Management ProcessList six steps in the strategic management process
3、.Describe what managers do when they do external and internal analyses.Explain the role of resources,capabilities,and core competencies in the internal analysis.2Copyright 2005 Prentice Hall,Inc.All rights reserved.L E A R N I N G O U T L I N E (contd)Follow this Learning Outline as you read and stu
4、dy this chapter.Types of Organizational StrategiesExplain the three growth strategies.Discuss the BCG matrix and how its used.Define SBUs and business-level strategies.Describe the role of competitive advantage in business-level strategies.Explain Porters five forces model.Describe three generic com
5、petitive strategies.3Copyright 2005 Prentice Hall,Inc.All rights reserved.L E A R N I N G O U T L I N E (contd)Follow this Learning Outline as you read and study this chapter.Strategic Management in Todays EnvironmentDiscuss the implications of dynamic and uncertain environments on organizational st
6、rategy.Explain the rule of three and its significance to strategic management.Describe strategies applying e-business techniques.Explain what strategies organization might use to become more customer oriented to be more innovative.4Copyright 2005 Prentice Hall,Inc.All rights reserved.Strategic Manag
7、ementThe set of managerial decisions and actions that determines the long-run performance of an organization.5Copyright 2005 Prentice Hall,Inc.All rights reserved.Why Strategic Management Is Important1.It results in higher organizational performance.2.It requires that managers examine and adapt to b
8、usiness environment changes.3.It coordinates diverse organizational units,helping them focus on organizational goals.4.It is very much involved in the managerial decision-making process.6Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.1Exhibit 8.1The Strategic Management Process7Copyr
9、ight 2005 Prentice Hall,Inc.All rights reserved.Strategic Management ProcessStep 1:Identifying the organizations current mission,objectives,and strategiesMission:the firms reason for beingvThe scope of its products and servicesGoals:the foundation for further planningvMeasurable performance targetsS
10、tep 2:Conducting an external analysisThe environmental scanning of specific and general environmentsvFocuses on identifying opportunities and threats8Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.2Exhibit 8.2Components of a Mission StatementCustomers:Who are the organizations custom
11、ers?Products or services:What are the organizations major products or services?Markets:Where does the organization compete geographically?Technology:How technologically current is the organization?Concern for survival growth,and profitability:Is the organization committed to growth and financial sta
12、bility?Philosophy:What are the organizations basic beliefs,values,aspirations,and ethical priorities?Self-concept:What is the organizations major competitive advantage and core competencies?Concern for public image:How responsive is the organization to societal and environmental concerns?Concern for
13、 employees:Does the organization consider employees a valuable asset?Source:Based on F.David,Strategic Management,8th ed.(Upper Saddle River,NJ:Prentice Hall,2001),pp.6566.9Copyright 2005 Prentice Hall,Inc.All rights reserved.Strategic Management Process(contd)Step 3:Conducting an internal analysisA
14、ssessing organizational resources,capabilities,activities,and culture:vStrengths(core competencies)create value for the customer and strengthen the competitive position of the firm.vWeaknesses(things done poorly or not at all)can place the firm at a competitive disadvantage.Steps 2 and 3 combined ar
15、e called a SWOT analysis.(Strengths,Weaknesses,Opportunities,and Threats)10Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.3Exhibit 8.3Identifying the Organizations Opportunities11Copyright 2005 Prentice Hall,Inc.All rights reserved.Strategic Management Process(contd)Step 4:Formulatin
16、g strategiesDevelop and evaluate strategic alternativesSelect appropriate strategies for all levels in the organization that provide relative advantage over competitorsMatch organizational strengths to environmental opportunitiesCorrect weaknesses and guard against threats12Copyright 2005 Prentice H
17、all,Inc.All rights reserved.Strategic Management Process(contd)Step 5:Implementing strategiesImplementation:effectively fitting organizational structure and activities to the environmentThe environment dictates the chosen strategy;effective strategy implementation requires an organizational structur
18、e matched to its requirements.Step 6:Evaluating ResultsHow effective have strategies been?What adjustments,if any,are necessary?13Copyright 2005 Prentice Hall,Inc.All rights reserved.Types of Organizational StrategiesCorporate-Level StrategiesTop managements overall plan for the entire organization
19、and its strategic business unitsTypes of Corporate StrategiesGrowth:expansion into new products and marketsStability:maintenance of the status quoRenewal:redirection of the firm into new markets14Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.4Exhibit 8.4Levels of Organizational Stra
20、tegy15Copyright 2005 Prentice Hall,Inc.All rights reserved.Corporate-Level StrategiesGrowth StrategySeeking to increase the organizations business by expansion into new products and markets.Types of Growth StrategiesConcentrationVertical integrationHorizontal integrationDiversification16Copyright 20
21、05 Prentice Hall,Inc.All rights reserved.Growth StrategiesConcentrationFocusing on a primary line of business and increasing the number of products offered or markets served.Vertical IntegrationBackward vertical integration:attempting to gain control of inputs(become a self-supplier).Forward vertica
22、l integration:attempting to gain control of output through control of the distribution channel and/or provide customer service activities(eliminating intermediaries).17Copyright 2005 Prentice Hall,Inc.All rights reserved.Growth Strategies(contd)Horizontal IntegrationCombining operations with another
23、 competitor in the same industry to increase competitive strengths and lower competition among industry rivals.Related DiversificationExpanding by merging with or acquiring firms in different,but related industries that are“strategic fits”.Unrelated DiversificationGrowing by merging with or acquirin
24、g firms in unrelated industries where higher financial returns are possible.18Copyright 2005 Prentice Hall,Inc.All rights reserved.Growth Strategies(contd)Stability StrategyA strategy that seeks to maintain the status quo to deal with the uncertainty of a dynamic environment,when the industry is exp
25、eriencing slow-or no-growth conditions,or if the owners of the firm elect not to grow for personal reasons.19Copyright 2005 Prentice Hall,Inc.All rights reserved.Growth Strategies(contd)Renewal StrategiesDeveloping strategies to counter organization weaknesses that are leading to performance decline
26、s.vRetrenchment:focusing of eliminating non-critical weaknesses and restoring strengths to overcome current performance problems.vTurnaround:addressing critical long-term performance problems through the use of strong cost elimination measures and large-scale organizational restructuring solutions.2
27、0Copyright 2005 Prentice Hall,Inc.All rights reserved.Corporate Portfolio AnalysisBCG Matrix Developed by the Boston Consulting GroupConsiders market share and industry growth rateClassifies firms as:vCash cows:low growth rate,high market sharevStars:high growth rate,high market sharevQuestion marks
28、:high growth rate,low market sharevDogs:low growth rate,low market share21Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.5Exhibit 8.5The BCG Matrix22Copyright 2005 Prentice Hall,Inc.All rights reserved.Business-Level StrategyBusiness-Level StrategyA strategy that seeks to determine h
29、ow an organization should compete in each of its SBUs(strategic business units).23Copyright 2005 Prentice Hall,Inc.All rights reserved.The Role of Competitive AdvantageCompetitive AdvantageAn organizations distinctive competitive edge that is sourced and sustained in its core competencies.Quality as
30、 a Competitive AdvantageDifferentiates the firm from its competitors.Can create a sustainable competitive advantage.Represents the companys focus on quality management to achieve continuous improvement and meet customers demand for quality.24Copyright 2005 Prentice Hall,Inc.All rights reserved.The R
31、ole of Competitive Advantage(contd)Sustainable Competitive AdvantageContinuing over time to effectively exploit resources and develop core competencies that enable an organization to keep its edge over its industry competitors.25Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.6Exhibit
32、 8.6Forces in the Industry AnalysisSource:Based on M.E.Porter,Competitive Strategy:Techniques for Analyzing Industries and Competitors(New York:The Free Press,1980).26Copyright 2005 Prentice Hall,Inc.All rights reserved.Five Competitive ForcesThreat of New EntrantsThe ease or difficulty with which n
33、ew competitors can enter an industry.Threat of SubstitutesThe extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitutes products and services.Bargaining Power of BuyersThe degree to which buyers have the market strength to hold sway over and influence
34、competitors in an industry.27Copyright 2005 Prentice Hall,Inc.All rights reserved.Five Competitive ForcesBargaining Power of SuppliersThe relative number of buyers to suppliers and threats from substitutes and new entrants affect the buyer-supplier relationship.Current RivalryIntensity among rivals
35、increases when industry growth rates slow,demand falls,and product prices descend.28Copyright 2005 Prentice Hall,Inc.All rights reserved.Competitive StrategiesCost Leadership StrategySeeking to attain the lowest total overall costs relative to other industry competitors.Differentiation StrategyAttem
36、pting to create a unique and distinctive product or service for which customers will pay a premium.Focus StrategyUsing a cost or differentiation advantage to exploit a particular market segment rather a larger market.29Copyright 2005 Prentice Hall,Inc.All rights reserved.Strategic Management TodayTh
37、e Rule of ThreeThe competitive forces in an industry,if unfettered,will inevitably create a situation where three companies(full-line generalists)will dominate any given marketSome firms in the same market become super niche players and while others end up as“stuck-in-the-ditch”bottom dwellers.30Cop
38、yright 2005 Prentice Hall,Inc.All rights reserved.Strategies for Applying e-Business TechniquesCost LeadershipOn-line activities:bidding,order processing,inventory control,recruitment and hiringDifferentiationInternet-based knowledge systems,on-line ordering and customer supportFocusChat rooms and d
39、iscussion boards,targeted web sites31Copyright 2005 Prentice Hall,Inc.All rights reserved.Customer Service StrategiesGiving the customers what they want.Communicating effectively with them.Providing employees with customer service training.32Copyright 2005 Prentice Hall,Inc.All rights reserved.Innov
40、ation StrategiesPossible EventsRadical breakthroughs in products.Application of existing technology to new uses.Strategic Decisions about InnovationBasic researchProduct developmentProcess innovationFirst MoverAn organization that brings a product innovation to market or use a new process innovation
41、s33Copyright 2005 Prentice Hall,Inc.All rights reserved.Exhibit 8.8Exhibit 8.8First-Mover AdvantagesDisadvantagesAdvantagesReputation for being innovative and industry leaderCost and learning benefitsControl over scarce resources and keeping competitors from having access to themOpportunity to begin building customer relationships and customer loyaltyDisadvantagesUncertainty over exact direction technology and market will goRisk of competitors imitating innovationsFinancial and strategic risksHigh development costs34Copyright 2005 Prentice Hall,Inc.All rights reserved.