Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
AND
STRATEGIC
MANAGEMENT
LECTURE 2
Introduction
Business
What is Strategy?
A strategy is an integrated and coordinated
Strategy
What is strategy?
Strategy is a framework of critical
Origin of Strategy
The word strategy is derived from the
ancient Athenian position of Strategos.
Stratos means army and agein means to
lead.
So, strategy was meant as coordination and
synergy among the various units of army in
a close formation to win the war.
Thus, Strategy is the science and art of
military command as applied to the overall
planning and conduct of large scale combat
operations.
Dimensions of Strategy
Strategy is a coherent, unifying and
Dimensions of Strategy
Strategy
competitive domain.
Strategy
is
a definition of the
economic
and
non-economic
contribution the firm intends to make
Hierarchy of Strategic
Intents
Vision
Mission
Goals
Objectives
Strategies
Associated Concepts of
Strategy
These are also known as core
competencies of a firm.
Strategic Intent
It refers to the expression of the
leadership
position
that
the
organization wants to attain and to
establish a clear criterion on which
progress
towards
goal will be
measured.
Associated Concepts of
Strategy
Strategic Capability.
It is the ability of a firm to develop and
Associated Concepts of
Strategy
Strategic Management
It is the set of decisions and actions
resulting
in the formulation and
implementation of strategies designed
to achieve the objectives of an
organization.
Strategic Goals
Strategic goals are the end destinies
where the firm wants to attain.
Associated Concepts of
Strategy
Strategic Plans
Strategic plans are formal
Formulation of Strategy
Strategy formulation is not as rational and
Approaches to Strategy
Formulation
2. Evolutionary approach believes
Approaches
4. Systemic approach believes
9.
Implement
strategies.
the
Concept of Strategic
Management
Strategic
management is a
stream of decisions and actions
which leads to the development
of an effective strategy or
strategies
to
help
achieve
corporate objectives.
William
F.
Glueck
and
Lawrance.
Significance of strategic
management
Strategic
Strategic management
Significance of strategic
management
Strategic
management
reduces
the
resistance to change as people are
prepared for the change with strategic
planning and actions.
Strategic
management
increases
capabilities to cope with opportunities
and threats as well thought out action
plans are made and implemented.
flexible.
It is not realized by formal statements but
also comes about by actions and reactions.
It is a description of a future orientated
action that is always directed towards
change.
It is conditioned by the management
process itself.