1、8th editionSteven P.RobbinsMary CoulterCopyright 2005 Prentice Hall,Inc.All rights reserved.*82L E A R N I N G O U T L I N E Follow this Learning Outline as you read and study this chapter.The Importance of Strategic ManagementDefine strategic management.Explain why strategic management is important
2、.Discuss what studies of the effectiveness of strategic management have shown.The Strategic Management ProcessList six steps in the strategic management process.Explain why its important to know an organizations mission.Describe what managers do when they do external and internal analyses.Explain th
3、e role of resources,capabilities,and core competencies in the internal analysis.Copyright 2005 Prentice Hall,Inc.All rights reserved.*83L E A R N I N G O U T L I N E (contd)Follow this Learning Outline as you read and study this chapter.The Strategic Management Process(contd)Define strengths,weaknes
4、ses,opportunities,and threats.Discuss what happens during strategy formulation,implementation,and evaluation.Types of Organizational StrategiesTell what strategies each level of management is typically responsible for.Describe the three major types of corporate strategies.Explain the three growth st
5、rategies.Discuss when organizations might pursue a stability strategy.Describe two renewal strategies.Copyright 2005 Prentice Hall,Inc.All rights reserved.*84L E A R N I N G O U T L I N E (contd)Follow this Learning Outline as you read and study this chapter.Types of Organizational Strategies(contd)
6、Discuss the BCG matrix and how its used.Define SBUs and business-level strategies.Describe the role of competitive advantage in business-level strategies.Explain Porters five forces model.Describe three generic competitive strategies.Tell what it means to be stuck in the middle.Define functional-lev
7、el strategies.Copyright 2005 Prentice Hall,Inc.All rights reserved.*85L E A R N I N G O U T L I N E (contd)Follow this Learning Outline as you read and study this chapter.Strategic Management in Todays Environment(contd)Discuss the implications of dynamic and uncertain environments on organizational
8、 strategy.Explain the rule of three and its significance to strategic management.Describe strategies applying e-business techniques.Explain what strategies organization might use to become more customer oriented.Describe innovation strategies organizations might use.Copyright 2005 Prentice Hall,Inc.
9、All rights reserved.*86Strategic Management The set of managerial decisions and actions that determines the long-run performance of an organization.Copyright 2005 Prentice Hall,Inc.All rights reserved.*87Why Strategic Management Is Important1.It results in higher organizational performance.2.It requ
10、ires that managers examine and adapt to business environment changes.3.It coordinates diverse organizational units,helping them focus on organizational goals.4.It is very much involved in the managerial decision-making process.Copyright 2005 Prentice Hall,Inc.All rights reserved.*88Strategic Managem
11、ent Process Step 1:Identifying the organizations current mission,objectives,and strategies Mission:the firms reason for being The scope of its products and services Goals:the foundation for further planning Measurable performance targets Step 2:Conducting an external analysis The environmental scann
12、ing of specific and general environments Focuses on identifying opportunities and threatsCopyright 2005 Prentice Hall,Inc.All rights reserved.*89Strategic Management Process(contd)Step 3:Conducting an internal analysis Assessing organizational resources,capabilities,activities,and culture:Strengths(
13、core competencies)create value for the customer and strengthen the competitive position of the firm.Weaknesses(things done poorly or not at all)can place the firm at a competitive disadvantage.Steps 2 and 3 combined are called a SWOT analysis.(Strengths,Weaknesses,Opportunities,and Threats)Copyright
14、 2005 Prentice Hall,Inc.All rights reserved.*810Strategic Management Process(contd)Step 4:Formulating strategies Develop and evaluate strategic alternatives Select appropriate strategies for all levels in the organization that provide relative advantage over competitors Match organizational strength
15、s to environmental opportunities Correct weaknesses and guard against threatsCopyright 2005 Prentice Hall,Inc.All rights reserved.*811Strategic Management Process(contd)Step 5:Implementing strategies Implementation:effectively fitting organizational structure and activities to the environment The en
16、vironment dictates the chosen strategy;effective strategy implementation requires an organizational structure matched to its requirements.Step 6:Evaluating Results How effective have strategies been?What adjustments,if any,are necessary?Copyright 2005 Prentice Hall,Inc.All rights reserved.*812Organi
17、zational Strategies Corporate Strategies Top managements overall plan for the entire organization and its strategic business units Types of Corporate Strategies Growth:expansion into new products and markets Stability:maintenance of the status quo Renewal:redirection of the firm into new marketsCopy
18、right 2005 Prentice Hall,Inc.All rights reserved.*813Corporate-Level Strategies Growth Strategy Seeking to increase the organizations business by expansion into new products and markets.Types of Growth Strategies Concentration Vertical integration Horizontal integration DiversificationCopyright 2005
19、 Prentice Hall,Inc.All rights reserved.*814Growth Strategies Concentration Focusing on a primary line of business and increasing the number of products offered or markets served.Vertical Integration Backward vertical integration:attempting to gain control of inputs(become a self-supplier).Forward ve
20、rtical integration:attempting to gain control of output through control of the distribution channel and/or provide customer service activities(eliminating intermediaries).Copyright 2005 Prentice Hall,Inc.All rights reserved.*815Growth Strategies(contd)Horizontal Integration Combining operations with
21、 another competitor in the same industry to increase competitive strengths and lower competition among industry rivals.Related Diversification Expanding by merging with or acquiring firms in different,but related industries that are“strategic fits”.Unrelated Diversification Growing by merging with o
22、r acquiring firms in unrelated industries where higher financial returns are possible.Copyright 2005 Prentice Hall,Inc.All rights reserved.*816Growth Strategies(contd)Stability Strategy A strategy that seeks to maintain the status quo to deal with the uncertainty of a dynamic environment,when the in
23、dustry is experiencing slow-or no-growth conditions,or if the owners of the firm elect not to grow for personal reasons.Copyright 2005 Prentice Hall,Inc.All rights reserved.*817Growth Strategies(contd)Renewal Strategies Developing strategies to counter organization weaknesses that are leading to per
24、formance declines.Retrenchment:focusing of eliminating non-critical weaknesses and restoring strengths to overcome current performance problems.Turnaround:addressing critical long-term performance problems through the use of strong cost elimination measures and large-scale organizational restructuri
25、ng solutions.Copyright 2005 Prentice Hall,Inc.All rights reserved.*818Corporate Portfolio Analysis BCG Matrix Developed by the Boston Consulting Group Considers market share and industry growth rate Classifies firms as:Cash cows:low growth rate,high market share Stars:high growth rate,high market sh
26、are Question marks:high growth rate,low market share Dogs:low growth rate,low market shareCopyright 2005 Prentice Hall,Inc.All rights reserved.*819Business-Level Strategy Business-Level Strategy A strategy that seeks to determine how an organization should compete in each of its businesses(strategic
27、 business units).Low-cost provider Differentiation Focus/NicheCopyright 2005 Prentice Hall,Inc.All rights reserved.*820The Role of Competitive Advantage Competitive Advantage An organizations distinctive competitive edge that is sourced and sustained in its core competencies.Quality as a Competitive
28、 Advantage Differentiates the firm from its competitors.Can create a sustainable competitive advantage.Represents the companys focus on quality management to achieve continuous improvement and meet customers demand for quality.Copyright 2005 Prentice Hall,Inc.All rights reserved.*821The Role of Comp
29、etitive Advantage(contd)Sustainable Competitive Advantage Continuing over time to effectively exploit resources and develop core competencies that enable an organization to keep its edge over its industry competitors.Copyright 2005 Prentice Hall,Inc.All rights reserved.*822Five Competitive Forces Th
30、reat of New Entrants The ease or difficulty with which new competitors can enter an industry.Threat of Substitutes The extent to which switching costs and brand loyalty affect the likelihood of customers adopting substitutes products and services.Bargaining Power of Buyers The degree to which buyers
31、 have the market strength to hold sway over and influence competitors in an industry.Copyright 2005 Prentice Hall,Inc.All rights reserved.*823Five Competitive Forces Bargaining Power of Suppliers The relative number of buyers to suppliers and threats from substitutes and new entrants affect the buye
32、r-supplier relationship.Current Rivalry Intensity among rivals increases when industry growth rates slow,demand falls,and product prices descend.Copyright 2005 Prentice Hall,Inc.All rights reserved.*824Competitive Strategies Cost Leadership Strategy Seeking to attain the lowest total overall costs r
33、elative to other industry competitors.Differentiation Strategy Attempting to create a unique and distinctive product or service for which customers will pay a premium.Focus Strategy Using a cost or differentiation advantage to exploit a particular market segment rather a larger market.Copyright 2005
34、 Prentice Hall,Inc.All rights reserved.*825Strategic Management Today The Rule of Three The competitive forces in an industry,if unfettered,will inevitably create a situation where three companies(full-line generalists)will dominate any given market Some firms in the same market become super niche p
35、layers and while others end up as stuck-in-the-ditch dwellers.Copyright 2005 Prentice Hall,Inc.All rights reserved.*826Strategies for Applying e-Business Techniques Cost Leadership On-line activities:bidding,order processing,inventory control,recruitment and hiring Differentiation Internet-based kno
36、wledge systems,on-line ordering and customer support Focus Chat rooms and discussion boards,targeted web sitesCopyright 2005 Prentice Hall,Inc.All rights reserved.*827Customer Service Strategies Giving the customers what they want.Communicating effectively with them.Providing employees with customer
37、 service training.Copyright 2005 Prentice Hall,Inc.All rights reserved.*828Innovation Strategies Possible Events Radical breakthroughs in products.Application of existing technology to new uses.Strategic Decisions about Innovation Basic research Product development Process innovation First Mover An organization that brings a product innovation to market or use a new process innovations公司概述 发展历程 产业结构 分支机构 团队介绍 业务介绍
