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1、Strategic Management Week one 1Copyright 2005 Prentice HallLecturer Information Name:Jintao,ZhangH/P:15916213355(663355)QQ:791099091PPT Download Address:FTP:/IBF.BNUEP.COME-mail:zhang_2Copyright 2005 Prentice HallQuestion Time Any Question?Try to Ask3Copyright 2005 Prentice HallText Book Information
2、Fred R.David4Copyright 2005 Prentice HallReadings 5Copyright 2005 Prentice HallAssignment&ExamnAttendance -10%nGroup Assignment 40%nFinal Exam 50%(Open Book)6Copyright 2005 Prentice HallWeek 1Week 1Chapter OneChapter OneWeek 2Week 2Chapter One&TwoChapter One&TwoWeek 3Week 3Chapter Two&Case Chapter T
3、wo&Case Week 4Week 4Chapter ThreeChapter ThreeWeek 5 Week 5 Chapter Three&CaseChapter Three&CaseWeek 6 Week 6 Public HolidayPublic HolidayWeek 7Week 7Chapter FourChapter FourWeek 8Week 8Chapter Four&CaseChapter Four&CaseWeek 9Week 9Chapter FiveChapter FiveWeek 10Week 10Chapter Five&CaseChapter Five&
4、CaseWeek 11 Week 11 Mid-semester Review&Case AnalysisMid-semester Review&Case AnalysisWeek 12 Week 12 Chapter SixChapter SixWeek 13 Week 13 Chapter Seven Chapter Seven Week 14 Week 14 Chapter Seven&CaseChapter Seven&CaseWeek 15Week 15Chapter EightChapter EightWeek 16Week 16Chapter NightChapter Night
5、Week 17Week 17Overall Case AnalysisOverall Case AnalysisWeek 18Week 18Subject OverviewSubject OverviewPart OnePart TwoPart THreePart FourClass 27Copyright 2005 Prentice HallWeek 1Week 1Chapter OneChapter OneWeek 2Week 2Chapter One&TwoChapter One&TwoWeek 3Week 3Chapter Two&Case Chapter Two&Case Week
6、4Week 4Chapter ThreeChapter ThreeWeek 5 Week 5 Chapter Three&CaseChapter Three&CaseWeek 6 Week 6 Chapter FourChapter FourWeek 7Week 7Chapter Four&CaseChapter Four&CaseWeek 8Week 8Chapter FiveChapter FiveWeek 9Week 9Chapter Five&CaseChapter Five&CaseWeek 10Week 10Chapter SixChapter SixWeek 11 Week 11
7、 Mid-semester Review&Case AnalysisMid-semester Review&Case AnalysisWeek 12 Week 12 Chapter SevenChapter SevenWeek 13 Week 13 Chapter Seven&CaseChapter Seven&CaseWeek 14 Week 14 Chapter EightChapter EightWeek 15Week 15Chapter NightChapter NightWeek 16Week 16Public HolidayPublic HolidayWeek 17Week 17O
8、verall Case AnalysisOverall Case AnalysisWeek 18Week 18Subject OverviewSubject OverviewPart OnePart TwoPart THreePart FourClass 18Copyright 2005 Prentice HallChapter 1 The Nature of Strategic ManagementStrategic Management:Concepts&Cases11th EditionFred David9Copyright 2005 Prentice HallArt&science
9、of formulating,implementing,and evaluating,cross-functional decisions that enable an organization to achieve its objectivesStrategic Management Defined10Copyright 2005 Prentice HallStrategic ManagementIn essence,the strategic plan is a companys game plan11Copyright 2005 Prentice HallStrategic Manage
10、ment achieves a firms success through integrationManagementMISProduction/OperationsFinance/AccountingMarketingResearch&Development12Copyright 2005 Prentice HallStages of Strategic Management nFormulationnImplementiong nEvaluation13Copyright 2005 Prentice HallVision&MissionStrategy FormulationExterna
11、l Opportunities&ThreatsInternal Strengths&WeaknessesLong-Term ObjectivesAlternative StrategiesStrategy Selection14Copyright 2005 Prentice HallIssues in Strategy FormulationNew business opportunitiesBusinesses to abandonAllocation of resourcesExpansion or diversificationInternational marketsMergers o
12、r joint venturesAvoidance of hostile takeover15Copyright 2005 Prentice HallStrategy ImplementationAnnual ObjectivesPoliciesEmployee MotivationResource Allocation16Copyright 2005 Prentice HallStrategy ImplementationAction Stage of Strategic Management Most difficult stageMobilization of employees&man
13、agersInterpersonal skills criticalConsensus on goal pursuit17Copyright 2005 Prentice HallStrategy EvaluationInternal ReviewExternal ReviewPerformance MetricsCorrective Actions18Copyright 2005 Prentice HallStrategy EvaluationFinal Stage of Strategic ManagementSubject to future modificationTodays succ
14、ess no guarantee of future successNew&different problemsComplacency leads to demise19Copyright 2005 Prentice HallPeter Drucker:-Think through the overall mission of a business.Ask the key question:“What is our Business?”Prime Task of Strategic Management20Copyright 2005 Prentice HallThe strategic ma
15、nagement process attempts to organize quantitative and qualitative information under conditions of uncertaintyIntegrating Intuition and Analysis21Copyright 2005 Prentice HallIntuition is based on:qPast experiencesqJudgmentqFeelingsIntegrating Intuition and AnalysisIntuition is useful for decision ma
16、king in:qConditions of great uncertaintyqConditions with little precedent22Copyright 2005 Prentice HallInvolve Management at all levelsIntuition&JudgmentInfluence all AnalysesIntegrating Intuition&Analysis23Copyright 2005 Prentice HallAnalytical ThinkingIntegrating Intuition&AnalysisIntuitive Thinki
17、ng24Copyright 2005 Prentice HallOrganizations must monitor eventsnOn-going processnInternal and external eventsnTimely changesAdapting to Change25Copyright 2005 Prentice Hall“Anything that a firm does especially well compared to rival firms”Strategic Management is Gaining and Maintaining Competitive
18、 Advantage26Copyright 2005 Prentice Hall1.Adapting to change in external trends,internal capabilities and resourcesAchieving Sustained Competitive Advantage2.Effectively formulating,implementing&evaluating strategies27Copyright 2005 Prentice HallRate&magnitude of change increasing dramaticallyAdapti
19、ng to ChangeE-commerceDemographicsTechnology28Copyright 2005 Prentice HallEffective AdaptationAdapting to ChangeRequires long-term focus29Copyright 2005 Prentice HallnWhat kind of business should we become?nAre we in the right fieldsnAre there new competitors?nWhat strategies should we pursue?nHow a
20、re our customers changing?Adapting to Change Key Strategic Management Questions30Copyright 2005 Prentice HallKey TermsVarious Job Titles:Chief Executive Officer(CEO)Chief Strategy Officer(CSO)PresidentOwnerBoard ChairExecutive DirectorStrategists Firms success/failure31Copyright 2005 Prentice HallVi
21、sion Statement What do we want to become?Mission Statement What is our business?Key Terms32Copyright 2005 Prentice HallqLargely beyond the control of a single organizationKey Terms Opportunities and Threats(External)33Copyright 2005 Prentice HallOpportunities&Threats(External)Key TermsAnalysis of Tr
22、ends:EconomicSocialCulturalDemographic/EnvironmentalPolitical,Legal,GovernmentalTechnologicalCompetitors34Copyright 2005 Prentice HallqProcess of conducting research and gathering and assimilating external informationKey Terms Opportunities&ThreatsEnvironmental Scanning(Industry Analysis)35Copyright
23、 2005 Prentice HallBasic Tenet of Strategic ManagementKey Terms Opportunities&ThreatsStrategy FormulationTake advantage of External OpportunitiesAvoid/minimize impact ofExternal Threats36Copyright 2005 Prentice HallqControllable activities performed especially well or poorlyKey Terms Strengths&Weakn
24、esses(Internal)37Copyright 2005 Prentice HallStrengths&Weaknesses(Internal)Key TermsTypically located in functional areas of the firmManagementMarketingFinance/AccountingProduction/OperationsResearch&DevelopmentComputer Information Systems38Copyright 2005 Prentice HallAssessing the Internal Environm
25、entKey Terms Strengths&WeaknessesInternal FactorsPerformance MetricsFinancial RatiosIndustry AveragesSurvey Data39Copyright 2005 Prentice HallqMission-driven pursuit of specified results more than one year outKey Terms Long-term Objectives40Copyright 2005 Prentice HallLong-term ObjectivesKey TermsEs
26、sential for ensuring the firms successProvide directionAid in evaluationCreate synergyFocus coordinationBasis for planning,motivating,and controlling41Copyright 2005 Prentice HallqMeans by which long-term objectives are achievedKey Terms Strategies42Copyright 2005 Prentice HallStrategiesKey TermsSom
27、e ExamplesGeographic expansionDiversificationAcquisitionMarket penetrationRetrenchmentLiquidationJoint venture43Copyright 2005 Prentice HallqShort-term milestones that firms must achieve to attain long-term objectivesKey Terms Annual Objectives44Copyright 2005 Prentice HallqMeans by which annual obj
28、ectives will be achievedKey Terms Policies45Copyright 2005 Prentice HallExternalAuditChapter 3InternalAuditChapter 4Long-TermObjectivesChapter 5Generate,Evaluate,SelectStrategiesChapter 6ImplementStrategies:Mgmt IssuesChapter 7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter 8Measure&EvaluatePe
29、rformanceChapter 9Vision&MissionChapter 2Comprehensive strategic management model46Copyright 2005 Prentice HallEnd of Week OneHome Work:Read Text book Page 34 48Preview:Chapter 1&Chapter 247Copyright 2005 Prentice HallExternalAuditChapter 3InternalAuditChapter 4Long-TermObjectivesChapter 5Generate,E
30、valuate,SelectStrategiesChapter 6ImplementStrategies:Mgmt IssuesChapter 7ImplementStrategies:Marketing,Fin/Acct,R&D,CISChapter 8Measure&EvaluatePerformanceChapter 9Vision&MissionChapter 2Comprehensive strategic management model48Copyright 2005 Prentice HallqDynamic&ContinuousqMore formal in larger o
31、rganizationsStrategic Management ModelStrategic Management Process49Copyright 2005 Prentice Hall1.Identify Existing-Strategic Management ModelVisionMissionObjectivesStrategies50Copyright 2005 Prentice Hall2.Audit external environment3.Audit internal environment4.Establish long-term objectives5.Gener
32、ate,evaluate&select strategies6.Implement selected strategies7.Measure&evaluate performanceStrategic Management Model51Copyright 2005 Prentice HallBenefits of Strategic Management Proactive in shaping firms future Initiate and influence firms activities Formulate better strategiesSystematic,logical,
33、rationalUnderstanding Commitment Empowerment52Copyright 2005 Prentice HallBenefits of Strategic Management Financial Benefits Improvement in sales Improvement in profitability Productivity improvement53Copyright 2005 Prentice HallBenefits of Strategic Management Non-Financial Benefits Improved under
34、standing of competitors strategies Enhanced awareness of threats Reduced resistance to change Enhanced problem-prevention capabilities54Copyright 2005 Prentice HallWhy Some Firms Do No Strategic PlanningPoor reward structuresFire-fightingWaste of timeToo expensiveLazinessContent with success55Copyri
35、ght 2005 Prentice HallWhy Some Firms Do No Strategic PlanningFear of failureOverconfidencePrior bad experienceSelf-interestFear of the unknownSuspicion56Copyright 2005 Prentice HallqPrinciples of conduct within organizations that guide decision making and behaviorBusiness Ethics&Strategic Management
36、Business Ethics defined 57Copyright 2005 Prentice HallqPrerequisite for good strategic managementBusiness Ethics&Strategic ManagementGood business ethics 58Copyright 2005 Prentice HallqProvides basis on which policies can be devised to guide daily behavior and decisions in the workplaceBusiness Ethi
37、cs&Strategic ManagementCode of business ethics 59Copyright 2005 Prentice HallqMisleading advertisingqMisleading labelingqHarm to the environmentqInsider tradingqDumping flawed products on foreign marketsqPoor product or service safetyqPadding expense accountsBusiness Ethics&Strategic ManagementBusin
38、ess practices always considered unethical 60Copyright 2005 Prentice HallqISO 9000 focuses on quality controlq 1.5 million companies incorporate ISONatural Environment PerspectiveISO used to gain strategic advantage61Copyright 2005 Prentice HallqVoluntary standards qISO 14001 standard for Environment
39、al Management SystemqFirms minimize harmful effects on environmentNatural Environment PerspectiveISO 14000 standards62Copyright 2005 Prentice HallqParent companyqHost countryThe Nature of Global CompetitionInternational/multinational corporations63Copyright 2005 Prentice HallqCultural differencesqNo
40、rmsqValuesqWork ethicThe Nature of Global CompetitionStrategy implementation may be difficult64Copyright 2005 Prentice HallAdvantages of International OperationsAbsorb excess capacityReduce unit costsSpread risk over wider marketsLow-cost production facilities65Copyright 2005 Prentice HallAdvantages
41、 of International Operations(contd)Less intense competitionLower taxesEconomies of scale66Copyright 2005 Prentice HallDisadvantages of International OperationsDifficult communicationsUnderestimate foreign competitionCultural barriers to effective managementComplications arising from currency differences67Copyright 2005 Prentice Hall