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Chapter 1 : Strategy, Leadership & Culture
STRATEGY, External envir…
Chapter 1 : Strategy, Leadership & Culture
STRATEGY
STRATEGY
(initiative)
Definition = Long term direction of organisation
- allign 2gether w vission, mission & goals
- Lterm = number of yrs = 3 horizons = 1-3 yrs
:check: Horizon 1 = defend & extend current bus (up to 1 yr)
:check: Horizon 2 = emerging (newly created) activity y can provide new source of profit
:check: Horizon 3 = new & risky, provide return in few yrs time (3+ yrs)
strategic direction organi. usually hv
- OBJECTIVES
- & ORGANISE themselves to achieve objective - use (SMART)
Specific
Measurable
Achievable
Realistic | Result-focus | Relevant
Time-related
- diff ppl in org hv diff interest, so may lead to conflict of interest
- org hv to consider in & external stakeholders (those y hv interest in org)
LEVEL OF STRATEGY
FIRST level - Corporate strategy
- deal w purpose & scope of business (portfolio)
SECOND level - Business lvl strategy
- how to compete successfully in partic market
- LOW COST or DIFFERENTIATION strategy???
THIRD level - Operational strategy
- how dpt of org support overall strategy
-
STRATEGIC VALUES
-
Corporate governance
- conduct of senior officer in org
- way of org are directed & controlled
- CG issue may arise from agency problem
(mgr shud act in the best int of SH)
- gain trust of SH
- fairness
- openness / transparency
- honesty & loyalty
- respsibilty
- acctbility
- integrity
Ethics
- study of right & wrong
- rules & principle to decide :check: or :green_cross:
- acctability
- integrity
- honesty
- objectivity
- fairness
- transparency
- responsibility
- loyalty
- openness
-
External envir :arrow_forward: PESTEL
Competition in industry :arrow_forward: Porter 5 forces
National advtge :arrow_forward: Porters Diamond
-