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Block One - Introduction to Strategic Management (Week 3 - Understanding …
Block One - Introduction to
Strategic Management
Week One - What
is Strategy?
Strategy dimensions
Strategy context
Strategy process
Decision making
Strategy in action
Analysis
Strategy content
Strategy levels
Corporate
Business
Network
Functional
Types of strategy
Deliberate
Emergent
Unrealised
Realised
Planned
The 5 P's of strategy
Pattern
Position
Plan
Perspective
Ploy
Week 2 - Vision,
Mission, Values
and goals
Mission
What would be lost if the organisation did not exist?
How do we make a difference?
What is our business?
Why do we do what we do?
Values
Values can be considered the ‘bedrock of a company’s organizational culture. Organisational values are defined as small sets of values which are developed by individuals and groups. They are the core (hence, small set), distinctive and relatively stable attributes and beliefs that inspire behaviour in the workplace.
Vision
Envisioned industry environment
Desired future organisational position
Envisioned contextual environment
Time horizon
Goals
Focused on critical issues
Challenging but realistic
Precise and measurable
Time bound
Week 3 - Understanding
Performance
Competitive Advantage
Greater profitability than other organisations
Able to create and capture value
Having something another organisation does not
Value creation - is the process through which a company combines inputs such as labour force and materials to make a product or offer a service that has a perceived benefit (B) for the customer that is higher than the costs (C) paid by the company to create it.
Inputs, Outputs and outcomes
Outputs are goods or services
resulting from an organisational action
Outcomes - derive from the outputs and can be considered as being the difference made by the availability of the outputs
Inputs - time required of human resources,
physical assets and capital
Long term performance
measures
Profit Growth
Market value
Performance
Performance analysis plays an important role in strategic management as it provides information for understanding if an organisation’s strategy has been aligned with its goals. A clear definition of performance measures and targets will inform strategic decision making and the definition of strategies at the different levels of the organisation.
Short term performance
measures
Return on capital investment - ROCE
Return on sales - ROS
Return on equity - ROE
Asset utilisation ratio - AUR
Week 4 - Corporate Social
Responsibility
Corporate Social
Responsibility (CSR)
Guiding principles - UN
Labour standards
Environment
Human rights
Anti-corruption
Triple bottom line
Planet
Profit
People
Shareholders versus stakeholders
Stakeholders
Stakeholders can be defined as ‘any group or individual who can affect or is affected by the achievement of the organization’s objectives’
Shareholders
Owning shares within a company
Creating shared
value (CSV)
Firms assets
Social needs
Business opportunities
and threats
CSV as a marketing
mechanism
Pinkwashing
Blue washing
Greenwashing
