Please enable JavaScript.
Coggle requires JavaScript to display documents.
the nature of strategic management (characteristics of strategy (long term…
the nature of strategic management
characteristics of strategy
long term direction
exploits the links between the internal and external environment
require major resources
likely effect the whole organisation
directed by the vision
twentieth century defined posses
identify and asses OT
respond to OT by formulating strategic plans
implement strategic plans
design control systems for implementation process
twenty-first century strategy
complexity theory
CSR & above average returns
five Ps
perspective
the organisation's way of doing things
by the use of past experiences
ploy
as a specific maneuver to out wit a competitor
position
determination of particular products in particular markets
pattern
constant behavior over time
intended strategy (needs to be planed)
realized called deliberate strategies
not realized (abandoned
emergent strategies
plan
provide overall direction and course of action
criticisms
levels of strategy
cooperate level (overall purpose and scope of the organisation)
functional level strategy (competitive advantage in terms of activities, process, practices and resources.)
business level (how the organisation competes and attains competitive advantage
strategic management
inside out perspective (strategies should be based on what the origination can do)
resource based and dynamic capability view points
resource based: using the org unique resources to gain a competitive advantage
dynamic capabilities:(better for modern) activities and processes that leaders can employ to integrate, build and reconfigure internal and external competencies to address rapidly changing environments.
strategic architecture
internally: behave in a concordant manner by integrating
externally:
strategic stretch
importance of goals and values
outside in: (market driven)
identifies opportunities in the external environment
creatively defines its competitive industry.
adepts resources and dynamic capabilities.
the strategic management process
sustainable organisation and strategic direction
strategic analysis
strategic decision enablers (2 main are competitive intelligence and business intelligence
strategic development and formulation
meet customers needs
counter the competitive efforts of competitors
cope with existing market conditions
sustain and build competitive advantage
strategy implementation
paradoxes
reactive or proactive approach ()
inside out and outside in driven (which one to prioraise)
intended and emergent strategy (striving for intended strategies and allowing for emergent strategies)
profitability vs sustainability
past and future (in times of dramatic change it may be best to abandon past and current paradigms)
tests for a winning strategy
competitive advantage
performance test
goodness of fit
emerging markets
environmental system
social impact
winning strategy
improves organisational performance
builds competitive advantage
link between the organisation's internal and external environment
aligns itself with environmental requirements in a global context
meets the expectations of stakeholder