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1、1Strategic Management in ActionIntroducing the ConceptsLearning Objectives 1.Discuss why strategic management is important. 2.Define strategy and strategic management. 3.Describe the strategic management process. 4.Describe the three levels of organizational strategies. 5.Explain the historical evol
2、ution of strategic management. 6.Rebut misconceptions about strategy and strategic management. 7.Explain whos involved with strategic management and their role in managing strategically.WHY IS STRATEGIC MANAGEMENT IMPORTANT?Strategic ManagementGives everyone a roleMakes a difference in performance l
3、evelsProvides systematic approach to uncertaintiesCoordinates and focuses employeesWHAT IS STRATEGIC MANAGEMENT?Strategy vs.Strategic ManagementThe Basics of Strategy & Strategic ManagementDefinition of StrategyA series of goal-directed decisions and actionsmatching an organizations skills and resou
4、rceswith the opportunities and threats in its environmentThe Basics of Strategy & Strategic ManagementStrategy Involves:Organizations goalsGoal-directed actionRelated decisions and actionsInternal strengthsExternal opportunities and threatsThe Basics of Strategy & Strategic ManagementDefinition of S
5、trategic ManagementDecisions and actions where organizationsAnalyze current situationDevelop appropriate strategiesPut strategies into actionEvaluate, modify, or change strategiesThe Basics of Strategy & Strategic ManagementStrategic Management entails:Basic managerial functionsPlanningOrganizingImp
6、lementingControllingBasicActivitiesofStrategicManagementFigure 1-1The Basics of Strategy & Strategic ManagementStrategy FormulationStrategy ImplementationStrategy EvaluationThe Basics of Strategy & Strategic ManagementStrategic Management“Big picture view of organizationinfluenced by its external en
7、vironmentFour aspects that set apart Strategic ManagementInterdisciplinaryExternal focusInternal focusFuture directionThe Strategic Management ProcessAnalyzingCurrentSituationDecidingon StrategiesPuttingStrategiesin ActionEvaluating andChanging StrategiesSituationAnalysisStrategyFormulationStrategyI
8、mplementationStrategyEvaluationChapter 2Chapter 3Chapter 4ExternalAnalysisInternalAnalysisOrganizational ContextChapter 5Chapter 6Chapter 7FunctionalCompetitiveCorporateStrategic Management in Action Figure 1-2The Strategic Management ProcessSituation AnalysisScanning and evaluating contextExternal
9、environmentOrganizational environmentThe Strategic Management ProcessStrategy FormulationThree organizational levelsFunctional strategiesCompetitive strategiesCorporate strategiesThe Strategic Management ProcessStrategy ImplementationProcess of putting strategies into actionStrategy EvaluationProces
10、s of evaluating:How the strategy has been implementedOutcomes of the strategyThe Strategic Management ProcessContinuing Process ofStrategic Management in ActionOngoing and continuous cycle of Strategy formulation Strategy implementation Strategy evaluation Looking at Strategic Managements PastStrate
11、gys Military RootsBattlefield strategies to gain an edgeExploit weak spotsAcademic Origins of Strategic ManagementEconomic theoryEarly organizational studiesLooking at Strategic Managements PastStrategic Planning & Strategic Management EmergeBefore 1960Not an area of studyDuring the 1960sStrategy an
12、d StructureCorporate StrategyBusiness Policy: Text and CasesDuring the 1970s and 1980sBecomes distinct academic fieldResearch focus on strategic decisions vs. performanceMisconceptions AboutStrategy and Strategic ManagementMisconceptionsStrategy and strategic planning are deadStrategy is strictly fo
13、r top managementStrategy is about planningStrategy is stable and constantStrategic management outlines ultimate destination & routeWHOS INVOLVED WITH STRATEGIC MANAGEMENT?The Role of the Board of DirectorsElected representatives of the companys stockholdersLegally obligated to represent and protect
14、stockholders interestThe Role of Top ManagementResponsible for every decision and action of every employeeProviding effective leadershipOther Strategic Managers and Organizational EmployeesImplement put the strategies into action and monitor performanceEvaluatedo the actual evaluations and take nece
15、ssary actionsOpen book managementThe Role of the Board of DirectorsTable 1-2 Typical Board ResponsibilitiesReview and approve strategic goals and plansReview and approve organizations financial standards and policiesEnsure integrity of organizations financial controls and reporting systemsApprove an
16、 organizational philosophyMonitor organizational performance and regularly review performance resultsSelect, evaluate, and compensate top-level managersDevelop management succession plansReview and approve capital allocations and expendituresMonitor relations with shareholders and other key stakehol
17、dersOther responsibilities may be assigned depending on the unique culture and needs of the organizationThe Role of Top ManagementTop ManagementCEOChief Executive OfficerCOOChief Operating OfficerCFOChief Financial OfficerCIOChief Information OfficerThe Role of Top ManagementEffectiveStrategicLeadershipExploiting andMaintainingCore Compete
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