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STRATEGIC MANAGEMENT
Strategic Management
Strategy Formulation
Strategy Implementation
Annual Objectives
Policies
Employee Motivation
Resource Allocation
Strategy Evaluation
Internal Review
External Review
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Performance Metrics
Corrective Actions
Strategy is derived from the word Stratagem which means:
2. Trickery
Thinking Strategically:
strategy
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Strategy:
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Organizational Strategy
• Defined
• Planned
• Proactive
• With detail
• Vague
• Loose
• Reactive
• No detail
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• It provides direction
• It provides coherence
• It allows day-to-day processes to be designed
Why Is Strategy Important?
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A Business Model
business?”
business sense?
sense and the company has a viable business model for making
money?
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strategy of organization,
contribute to analysis of business strategy of organization,
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2. Business level
3. functional level
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Level of strategy
Characteristics Corporate Business Functional
Type Conceptual Mixed Operational
Measurability Value judgments Semi quantifiable Usually
dominant quantifiable
Frequency Periodic or Periodic or Periodic
sporadic sporadic
Adaptability Low Medium High
Relation to Innovative Mixed Supplementary
present activities
Risk Wide range Moderate Low
Profit potential Large Medium Small
Cost Major Medium Modest
Time horizon Long-range Medium range Short range
Flexibility High Medium Low
Cooperation Considerable Moderate Little
required
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capabilities.
3. Assessment of company’s external environment, in terms of both
desired options.
7. Development of annual objectives and short term strategies.
as a basis for control and as a basis for control and as an input for
future decision making.
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At the top is the corporate level. Composed of board of directors and the
chief executive and the administrative officers. It determines the business in
which company should be involved. Corporate image and responsibilities.
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Corporate/
Business
Strategies
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Corporate
strategies
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