StategymanagementHitt.pptVIP

“Canada is rather cool”* *The Economist 2003 Canada is home not only to world-class commercial competitors but to dominant companies in their industries Strategic Management  Competitiveness Knowledge Objectives Define Strategic Competitiveness, Competitive Advantage, Strategy and Above Average Returns. Describe the 21st century competitive landscape explain how globalization tech. change shape it. See how Industrial Organization Resource-Based models show how firms earn above average returns. Discuss the value of strategic vision mission. Describe stakeholders ability to influence firms. Describe strategists’ work the strat. mgmt. process. Know how ‘Business Models’ differ from Strategies. Desired Strategic Outcomes Important Definitions The Strategic Management Process What is Strategy? An integrated and coordinated set of commitments actions designed to exploit core competencies and gains and gain a competitive advantage. What is Strategy? Intended, Emergent Realized Strategies Intended, Emergent Realized StrategiesExample # 1: ___________________ Intended, Emergent Realized StrategiesExample # 2: ___________________ Alternative Models of Superior Returns Four Attributes of Resources and Capabilities (Competitive Advantage) Resources and capabilities meeting these 4 criteria become a source of: Core Competencies are the basis for a firm’s: 21st Century Business Values Flexibility Speed to market Innovation Integration Handling challenges from constantly changing conditions Hypercompetition The Global Economy One in which goods, services, people, skills, and ideas move freely across geographic borders Technology Technological Change Increasing rate of tech. change diffusion Perpetual innovation. The information age Personal computers, cellular phones, artificial intelligence, virtual reality, massive databases, electronic networks, e-business. Increasing knowledge intensity Information, intelligence, expe