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Foundations of Planning (Strategic Management process (Identify Mission, …
Foundations of Planning
Reasons for Planning
reduce the impact of change
provide direction
set the standards to facilitate control
minimize waste and redundancy
Strategic Management process
Implement Strategies
Evaluate Results
effective
adjustments
Formulate Strategies
Corporate
Business
Functional
Internal Analysis
Resources
Capabilities
Core competencies
Organizational strengths and weaknesses
External Analysis
Competition
Components of environment
Threats and opportunities
Identify Mission, Goals and Strategies
concern for public image
products or services
philosophy
technology
concern for survival,growth,and profitability
self-concept
markets
concern for employees
customers
strategies
stability strategy
renewal strategy
growth strategy
Vertical integration
Horizontal integration
Concentration
Diversification
competitive strategy
Differentiation
Focus strategy
Cost leadership strategy
stuck in the middle
Functional Strategy
Contemporary Issues
Planning in dynamic environments
Environmental scanning
plans
strategy
tactical
goals
Financial versus strategic
Stated versus real
Management by Objectives
Participative decision making
Explicit time period
Goal specificity
Performance feedback
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