[管理学]Chapter 3 Strategic Mgt.pptVIP

Strategic Managementand the Entrepreneur Strategic Management Crucial to building a successful business. Involves developing a game plan to guide a company as it strives to accomplish its mission, goals, and objectives, and to keep it on its desired course. Is Strategic Planning Really That Important? Study of 500 small companies: One of the most significant factors in distinguishing growing companies from those in decline: use of a written business plan. Another study: Only 12% of small companies had a long-range plan in writing. Strategic Management and Competitive Edge Developing a strategic plan is crucial to creating a competitive advantage, the aggregation of factors that sets a company apart from its competitors and gives it a unique position in the market. Example: Stardust Technologies, Inc. Strategic Management Process Step 1: Develop a vision and translate it into a mission statement. Step 2: Define core competencies and target market and identify desired market position. Step 3: Assess strengths and weaknesses. Step 4: Scan environment for opportunities and threats. Step 5: Identify key success factors. Strategic Management Process Step 6: Analyze competition. Step 7: Create goals and objectives. Step 8: Formulate strategies. Step 9: Translate plans into actions. Step 10: Establish accurate controls. Knowledge Management The practice of gathering, organizing, and disseminating the collective wisdom and experience of a company’s employees for the purpose of strengthening its competitive position. Knowledge management involves: Taking inventory of the special knowledge the people in the company possess. Organizing that knowledge and disseminating it to those who need it. Step 1: Develop a Vision and Create a Mission Statement Vision – an expression of what an entrepreneur stands for and believes in. A clearly defined vision: Provides direction Determines decisions Motivates people Step 1: Develop a Vision and Create a Mission S