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Strategic Management:
Concepts & Cases
13th Edition
Fred David
Ch 1 -1
Ch 1 -2
Ch 1 -3
Strategic Management
Ch 1 -4
Strategy formulation
Strategy implementation
Strategy evaluation
Copyright 2011 Pearson Education, Inc.
Publishing as Prentice Hall
Ch 1 -5
Strategy Formulation
Vision & Mission
External Opportunities & Threats
Internal Strengths & Weaknesses
Long-Term Objectives
Alternative Strategies
Strategy Selection
Ch 1 -6
Issues in Strategy
Formulation
Businesses
Businessesto
toenter
enter
Businesses
Businessesto
toabandon
abandon
Allocation
Allocationof
ofresources
resources
Expansion
Expansionor
or
diversification
diversification
International
Internationalmarkets
markets
Mergers
Mergersor
orjoint
joint
ventures
ventures
Avoidance
Avoidanceof
ofhostile
hostile
takeover
takeover
Ch 1 -7
Strategy Implementation
Annual Objectives
Policies
Employee Motivation
Resource Allocation
Ch 1 -8
Ch 1 -9
Issues in Strategy
Implementation
Action
ActionStage
Stageof
ofStrategic
Strategic
Management
Management
Mobilization
Mobilizationof
of
employees
employees&&managers
managers
Most
Mostdifficult
difficultstage
stage
Interpersonal
Interpersonalskills
skills
critical
critical
Ch 1 -10
Strategy Evaluation
Internal Review
External Review
Performance Measurement
Corrective Action
Ch 1 -11
Prime Task of
Strategic Management
Ch 1 -12
Ch 1 -13
Ch 1 -14
Ch 1 -15
Adapting to Change
Ch 1 -16
Competitive advantage
Strategists
Vision and mission statements
External opportunities and threats
Internal strengths and weaknesses
Long-term objectives
Strategies
Annual objectives
Policies
Copyright 2011 Pearson Education, Inc.
Publishing as Prentice Hall
Ch 1 -17
Strategic Management is
Gaining and Maintaining
Competitive Advantage
Ch 1 -18
Ch 1 -19
Strategists
Gather Information
Analyze Information
Organize Information
Ch 1 -20
Vision Statement
What do we want to become?
Mission Statement
What is our business?
Ch 1 -21
Economic
Social
Cultural
Demographic/Environmental
Political, Legal, Governmental
Technological
Competitors
Copyright 2011 Pearson Education, Inc.
Publishing as Prentice Hall
Ch 1 -22
Avoid/minimize
Avoid/minimizeimpact
impactof
of
External
ExternalThreats
Threats
Copyright 2011 Pearson Education, Inc.
Publishing as Prentice Hall
Ch 1 -23
Controllable
activities performed
especially well or poorly
Determined
relative to competitors
Ch 1 -24
Ch 1 -25
Performance Measures
Internal Factors
Industry Averages
Survey Data
Ch 1 -26
Long-Term Objectives
Ch 1 -27
Long-Term Objectives
Ch 1 -28
Strategies
Ch 1 -29
Strategies
Examples
Geographic expansion
Diversification
Acquisition
Product development
Market penetration
Retrenchment
Divestiture
Liquidation
Joint venture
Copyright 2011 Pearson Education, Inc.
Publishing as Prentice Hall
Ch 1 -30
Sample Strategies
Table 1-1
Best Buy
Levi Strauss
Ch 1 -31
Annual Objectives
Ch 1 -32
Policies
Ch 1 -33
Ch 1 -34
Strategic
Management Process
Dynamic & continuous
More formal in larger
organizations
Ch 1 -35
Strategic Management
Communication
is a key to
successful strategic management
Ch 1 -36
Ch 1 -37
Nonfinancial Benefits
Ch 1 -38
Ch 1 -39
Fear of failure
Overconfidence
Prior bad experience
Self-interest
Fear of the unknown
Honest difference of opinion
Suspicion
Copyright 2011 Pearson Education, Inc.
Publishing as Prentice Hall
Ch 1 -40
Ch 1 -41
Ch 1 -42
Ch 1 -43
Ch 1 -44
Difference
Ch 1 -45
Ch 1 -46