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The
The Strategic
Strategic
and
and Operational
Operational
Planning
Planning Process
Process
Learning
Learning Outcomes
Outcomes
After studying this chapter, you should be able to:
1.
2.
3.
4.
5.
6.
7.
8.
9.
52
Learning
Learning Outcomes
Outcomes (contd)
(contd)
10. Define the following key terms:
strategic planning corporate growth strategies
operational planning
merger
strategy
acquisition
strategic levels business portfolio analysis
corporate-level strategy adaptive strategies
business-level strategy functional strategies
functional-level strategy
standing plans
situation analysis policies
SWOT analysis procedure
benchmarking rules
objective single-use plans
management by objectives (MBO) contingency plans
grand strategy
Copyright 2006 Thomson Business and Economics. All rights reserved.
53
Ideas
Ideas on
on Management
Management at
at Starbucks
Starbucks
1.
2.
3.
4.
5.
6.
7.
54
Planning
Planning Dimensions
Dimensions
Planning
Determining what you want to accomplish and
developing approaches to achieving your
objectives.
Planning Dimensions:
Exhibit 51
Copyright 2006 Thomson Business and Economics. All rights reserved.
55
Strategic
Strategic and
and Operational
Operational Planning
Planning
Strategic Planning
The process of developing a mission and longrange objectives and determining in advance
how they will be accomplished.
Operational Planning
The process of setting short-range objectives
and determining in advance how they will be
accomplished.
Strategy
A plan for pursuing the mission and achieving
objectives.
Copyright 2006 Thomson Business and Economics. All rights reserved.
56
The
The Strategic
Strategic Planning
Planning Process
Process
Exhibit 52
Copyright 2006 Thomson Business and Economics. All rights reserved.
57
Strategic
Strategic Planning
Planning
Corporate-Level Strategy
The plan for managing multiple lines of
businesses
Business-Level Strategy
The plan for managing one line of business
Functional-Level Strategy
The plan for managing one area of the business
58
Strategic
Strategic and
and Operational
Operational Levels
Levels
Exhibit 53
Copyright 2006 Thomson Business and Economics. All rights reserved.
59
Industry
Industry and
and Competitive
Competitive Situation
Situation Analysis
Analysis
Situation Analysis
Focuses on those features in a companys
environment that most directly affect its options
and opportunities.
510
Starbuckss
StarbuckssFive-Force
Five-Force
Competitive
CompetitiveAnalysis
Analysis
Exhibit 54
Copyright 2006 Thomson Business and Economics. All rights reserved.
511
Parts
Parts of
of aa Company
Company Situation
Situation Analysis
Analysis
1.1.Assessment
Assessmentof
ofthe
thepresent
presentstrategy
strategybased
based
on
performance.
on performance.
2.2.Strengths,
Strengths,Weaknesses,
Weaknesses,Opportunities,
Opportunities,
and
Threats
(SWOT)
analysis.
and Threats (SWOT) analysis.
3.3.Assessment
Assessmentof
ofcompetitive
competitivestrength
strengthand
and
identification
of
competitive
advantage.
identification of competitive advantage.
4.4.Conclusions
Conclusionsconcerning
concerningcompetitive
competitive
position.
position.
5.5.Determination
Determinationof
ofthe
thestrategic
strategicissues
issuesand
and
problems
that
need
to
be
addressed
problems that need to be addressed
through
throughthe
thestrategic
strategicplanning
planningprocess.
process.
Exhibit 55
Copyright 2006 Thomson Business and Economics. All rights reserved.
512
SWOT
SWOTAnalysis
Analysis for
for
Starbucks
Starbucks Coffee
Coffee
Exhibit 56
Copyright 2006 Thomson Business and Economics. All rights reserved.
513
Competitive
CompetitiveStrength
StrengthAssessment
Assessment for
for Starbucks
Starbucks Coffee
Coffee
Exhibit 57
Copyright 2006 Thomson Business and Economics. All rights reserved.
514
Competitive
Competitive Advantage
Advantage
Core Competency
A functional capability (strength) that the firm
does well and one that creates a competitive
advantage for the firm.
Benchmarking
The process of comparing an organizations
products or services and processes with those
of other companies.
515
Setting
Setting Objectives
Objectives
Objectives
State what is to be accomplished in singular,
specific, and measurable terms with a target
date.
Goals
Are general targets to be accomplished that are
translated into actionable objectives.
516
Writing
Writing Effective
Effective Objectives
Objectives
Max E. Douglass model for writing effective
objectives:
(1) the word to, followed by
(2) an action verb,
(3) a statement of the single, specific, and
measurable result to be achieved, and
(4) a target date.
517
Criteria
Criteria That
That Objectives
Objectives Should
Should Meet
Meet
Exhibit 58
Copyright 2006 Thomson Business and Economics. All rights reserved.
518
519
Management
Management by
by Objectives
Objectives (MBO)
(MBO)
Management by Objectives
Step 1. Set individual objectives and plans.
Step 2. Give feedback and evaluate performance.
Step 3. Reward according to performance.
520
Corporate-Level
Corporate-Level Strategy
Strategy
Grand Strategies
Growth Strategies
Growth
Concentration
Stability
Backward and
forward integration
Turnaround and
retrenchment
Combination
Related and
unrelated
diversification
521
Corporate
Corporate Grand
Grand and
and Growth
Growth Strategies
Strategies
Exhibit 59
Copyright 2006 Thomson Business and Economics. All rights reserved.
522
523
Portfolio
Portfolio Analysis:
Analysis: BCG
BCG Matrix
Matrix
Exhibit 510
Copyright 2006 Thomson Business and Economics. All rights reserved.
524
The
TheEntrepreneurial
Entrepreneurial
Strategy
StrategyMatrix
Matrix
Exhibit 511
Copyright 2006 Thomson Business and Economics. All rights reserved.
525
Business-Level
Business-Level Strategies
Strategies
Adaptive Strategies
Prospecting
Defending
Analyzing
526
Business-Level
Business-Level Adaptive
Adaptive Strategies
Strategies
Exhibit 512
Copyright 2006 Thomson Business and Economics. All rights reserved.
527
528
Competitive
Competitive Strategies
Strategies
Differentiation
Competing on the basis of features that
distinguish one firms products or services from
those of another.
Cost Leadership
The firm with the lowest total overall costs has
a competitive advantage in price-sensitive
markets.
Focus
Concentrating competitive efforts on a
particular market segment, product line, or
buyer group.
Copyright 2006 Thomson Business and Economics. All rights reserved.
529
Strategies
Strategiesfor
forStarbucks
Starbucks over
over the
theProduct
Product Life
LifeCycle
Cycle
Exhibit 513
Copyright 2006 Thomson Business and Economics. All rights reserved.
530
531
Functional-Level
Functional-Level (Operational)
(Operational) Strategies
Strategies
Marketing
Operations
Human Resources
532
Functional-Level
Functional-Level (Operational)
(Operational) Strategies
Strategies (contd)
(contd)
Finance
Responsible for financing the business
activities by raising money through the sale of
stock or bonds or through loans, deciding on
the debt-to-equity ratio, paying off the debt and
dividends to shareholders, keeping records of
transactions, developing budgets, and reporting
financial results.
533
Types
Types of
of Plans
Plans
Standing Plans
Policies, procedures, and rules developed for
handling repetitive situations.
Policies
General guidelines to be followed when making
decisions.
Procedures
A sequence of actions to be followed in order to
achieve an objective.
Rules
A statement of exactly what should or should not be
done.
534
535
Types
Types of
of Plans
Plans (contd)
(contd)
Single-Use Plans
Programs and budgets developed for handling
nonrepetitive situations.
Program
A set of activities designed to accomplish an
objective over a specified period of time.
Program development
536
Types
Types of
of Plans
Plans (contd)
(contd)
Single-Use Plans (contd)
Budget
537
Standing
Standing Plans
Plans versus
versus Single-Use
Single-Use Plans
Plans
Exhibit 514
Copyright 2006 Thomson Business and Economics. All rights reserved.
538
Types
Types of
of Plans
Plans (contd)
(contd)
Contingency Plans
Alternative plans to be implemented if
uncontrollable events occur.
Developing a contingency plan
539
Implementing
Implementing and
and Controlling
Controlling Strategies
Strategies
Implementing
Controlling
540
Appendix
Time
Time
Management
Management
Learning
Learning Outcomes
Outcomes
After studying this appendix, you should be able to:
1. Explain the use of a time log.
2. List and briefly describe the three steps in the time management
system.
3. Define the following key terms:
time management
time management system
542
Analyzing
Analyzing Time
Time Use
Use
A daily diary that tracks your activities and enables you to determine
how you spend your time each day.
Determine how much time you are spending on your high-priority (HP)
and low-priority (LP) responsibilities.
Identify areas where you spend too much time (TT).
Identify areas where you do not spend enough time (NT).
Identify major interruptions (I) that keep you from doing what you want
to get done.
Identify tasks that could be delegated to someone else (D).
How much time does your boss control (B)? How much time do your
employees control (E)? How much time do others outside outside your
department control (O)? How much time do you actually control (M)?
Look for crisis situations (C).
Look for habits, patterns, and tendencies.
543
Daily
Daily Time
Time Log
Log
Exhibit A51
Copyright 2006 Thomson Business and Economics. All rights reserved.
544
AATime
Time Management
Management System
System
Key components of a time management
system:
Priorities
Objectives
Plans
Schedules
545
Weekly
Weekly Planner
Planner
Exhibit A52
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546
Weekly
Weekly Schedule
Schedule
Exhibit A53
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547
Daily
Daily Schedule
Schedule
Exhibit A54
Copyright 2006 Thomson Business and Economics. All rights reserved.
548
AATime
Time Management
Management System
System (contd)
(contd)
Scheduling Tips
Dont be too optimistic; schedule enough time
to do each task.
Once tasks are prioritized and scheduled, focus
on only one at a time.
Schedule high-priority items during your prime
time, when you perform at your best.
Try to set aside a regular time-slot for activities
or events that you cannot anticipate.
Do not perform an unscheduled task before
determining its priority.
549