chapter 1 the nature of strategic management（第一章战略管理的本质）.ppt

Chapter 1 The Nature of Strategic Management Art science of formulating, implementing, and evaluating, cross-functional decisions that enable an organization to achieve its objectives.    1. Adapting to change in external trends, internal capabilities and resources What kind of business should we become? Are we in the right fields Are there new competitors What strategies should we pursue? How are our customers changing? Vision Statement – What do we want to become? Mission Statement – What is our business? Opportunities Threats (External) Strengths Weaknesses (Internal) Means by which long-term objectives are achieved Comprehensive strategic management model Provides basis on which policies can be devised to guide daily behavior and decisions in the workplace * Strategic Management – Defined Vision Mission Strategy Formulation External Opportunities Threats Internal Strengths Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection Strategy Implementation Annual Objectives Policies Employee Motivation Resource Allocation Strategy Evaluation Internal Review External Review Performance Metrics Corrective Actions Achieving Sustained Competitive Advantage 2. Effectively formulating, implementing evaluating strategies Adapting to Change – Key Strategic Management Questions Key Terms Key Terms Analysis of Trends: Economic Social Cultural Demographic/Environmental Political, Legal, Governmental Technological Competitors Key Terms Typically located in functional areas of the firm Management Marketing Finance/Accounting Production/Operations Research Development Computer Information Systems Key Terms  Strategies External Audit Chapter 3 Internal Audit Chapter 4 Long-Term Objectives Chapter 5 Generate, Evaluate, Select Strategies Chapter 6 Implement Strategies: Mgmt Issues Chapter 7 Implement Strategies: Marketing, Fin/Acct, RD, CIS Chapter 8 Measure Evaluate Performance Chapter 9 Vision Mission Chapter 2 Benef