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STRATEGIC MANAGEMENT - Coggle Diagram
STRATEGIC MANAGEMENT
ANALYSIS OF INTERNAL RESOURCES
Strategic position
Is the position of the business in relation to the market and competitors.
Taking strategic position is a long process that involves many changes and adjustments
Choice of generic competitive strategy, based on its own capabilities.
Positioning map
Actual positioning of a brand within a competitive marketplace.
Components of Strategic Positioning
Competitor targets
Competitive advantage
Customer targets
Sustainable competitive advantage
Diagnosing and managing strategic capability (VRIO Framework)
Tools to diagnose internal and strategic capabilities
Benchmarking
Value chain/ value network
Strategic fit
Cross swot analysis
Defensive strategies (strenghts + threats)
Offensive strategies (strengths+opportunities)
Adaptation strategies (weaknesses + opportunities)
Survival strategies (weaknesses + threats)
INTRODUCTION TO THE STRATEGY CONCEPT
Vision, Mision & Values
Mision: the purpose of the company. The reason why the company exists.
Values: Code of conduct for the company and employees
Vision: aspirational sentence about the direction and impact of the company. How your company will be in 5 years.
Strategy
The way a company plans to create that value.
"Bringing the gap": Vision > Strategy > Tactics > Delivery
Strategy Management
A strategy is a plan to achieve some objectives. Continuity of the company, having competitive advantage through adaptation (creativity + formal tools).
Goals: SMART (Specific, Measurable, Achievable, Realistic, Timely).
Business Models
VARS model
Canvas model
ANALYSIS OF EXTERNAL ENVIRONMENT
The environment
Is what gives the organization their means of survival. Creates opportunities and it presents threats.
Set of external forces, out of the company control
The macro environment
VUCA environments: constant pradigm shifts
Volatiliy
Uncertainty
Complexity
Ambiguity
Pestel Framework
Legal
Political
Economic
Social
Technological
Environmental
The 5 forces
The power suppliers
The power buyers
Destructive price competition
Threat of substitutes
Rivalry among competitors
Analysis of the competitors
Divide the pie
Establish scope and control
Manage the emotional aspect
IMPLEMENTATION OF STRATEGIES
Strategic plan: Document that summarizes where the company is going and how to get there.
Type of strategies to use
Time and goals for each step: action plan
Future situation where the company wants to achiee its goals & parameter of change (process or policies).
Methods of control
Vision, mission, values & strategic objectives
Strategic plan resources: staff budget, tech, internal communication.
Structures
Small business Structure
Functional Structure
Multidivisional structure
Matrix Structure
Balanced Scorecard
An overview of the organization's performance by tracking a small number of key measures that collectively reflect 4 dimensions.
DEVELOPMENT OF MANAGEMENT STRATEGIES
Business-Level Strategy
What is the basic feature of the company for which we want to be preferred in the market?
Blue ocean strategy: Value innovator / New market creation
Red ocean strategy: Compete in existing market.
How will a firm compete in a particular industry?
Four-actions framework to formulate and execute a BOS
Competitive analysis vs. value innovation
Corporate-Level Strategy
In what industry/industries should our firm compete?
Responsiveness vs Efficiency
Ansoff matrix