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Strategy Formulation: Analytical Concepts Charles W. Hofer / Dan Schendel
Strategy Formulation: Analytical Concepts
Charles W. Hofer / Dan Schendel
Corporate strategy
Operating divisions
What set of business should we be in?
Competitive advantage
Synergy
business strategy
Distinctive competences and competitive advantages are important
Scope less important
How to compete
There are hierarchies of strategies
Functional area strategy
Scope not really important
Maximization on resources productivity
Need for strategy concepts
Concepts and processes
Different views of Strategy
For Ansoff is the "common thread"
The end and the means
Concepts and what they are
Goal setting is part of it or not
Narrow concept without components
goal setting and strategy formulation are different
Separate concepts in components
Match between internal resources and risks
management theory and prctice
Concept Strategy
Multi-departmental structures
Expansion after WWII
Goal and objectives some times are different
Goals not bounded
Goals objectives and goal structures
Goals not achievable
Objectives can be realized
Objectives have four components
Five steps are necessary after choosing the objectives
Organizational decisions don't change
Operating policies are important for the day to day decision making
Decisions
if operating policies are not established can generate a dis-control
Two principal observations
To take an action resources are needed
To accomplish an objective an interaction with external environment will happen
To be effective and efficient there are 4 components
Scope
Resource deployment
Competitive advantage
Synergy
Strategy is a statement of the fundamental means