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Chapter One
Introduction to Strategic
Management
Peter Drucker
Use of formal strategic thinking encouraged
after world war II.
Argued that, management is not just passive,
adaptive behavior. It means taking action to
make the desired results come to pass.
Introduced the concept of Management By
Objectives in 1954.
Shift of focus from processes to goals.
Micheal Porter
Summary
Strategic Management ?
Evolution
Strategic success paradigm Igor Ansoff.
Mintzberg crafting strategy.
Peter Drucker Management By Objective.
Micheal Porter Five forces Theory.
Operational Workout
Visit a taken over unit, like bank or
Vision
Mission
Company profile
External environment
Strategic analysis and choice
Annual objectives
Long term objectives
Grand strategy
Functional and operational strategies
Policies
Institutionalizing the strategy
Control and evaluation.
Summary
Corporate level
Exploit firms distinctive competencies.
Selection of areas of business the company is going
to operate.
Business level
Decision making on competitive position of single
unit.
Concerned with using generic strategies like cost
leadership, differentiation & creation of competitive
advantage.
Functional level
Consists of management of geographic,
product and functional areas.
Address problems related to efficiency and
effectiveness.
These are quantifiable and operational in
nature.
Relate to a particular period.
Cost of failure is relatively small hence risk
perception marginal.
Summary
Three levels of strategic planning.
- Corporate, business and functional.
Making strategic decisions.
Summary