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Strategic Management:
Concepts & Cases
Course coordinator
Prof. Begum Khaleda Khanam
Ch 1 -1
Strategic Management –
Defined
Ch 1 -2
Strategic Management
Ch 1 -3
Strategic Management
achieves a firm’s success
through integration ––
Management Marketing
Finance/Accounting Production/Operations
Ch 1 -4
Prime Task of
Strategic Management
Ch 1 -5
Strategic Management is
Gaining and Maintaining
Competitive Advantage
Ch 1 -6
Key Terms
Vision Statement –
What do we want to become?
Mission Statement –
What is our business?
Ch 1 -7
Key Terms
Ch 1 -8
Key Terms
Opportunities & Threats (External)
General
Global
Analysis of Trends:
• Economic
• Social Industry
• Cultural Environment
• Demographic/Environmental
• Political, Legal, Governmental Competitor
Environment
• Technological
• Competitors
Technological
Environment
Ch 1 -9
Key Terms
Ch 1 -10
Key Terms
Ch 1 -11
Key Terms
Long-term Objectives
Ch 1 -12
Key Terms
Strategies
Ch 1 -13
Key Terms
Strategies
Some Examples
• Geographic expansion
• Diversification
• Acquisition
• Market penetration
• Retrenchment
• Liquidation
• Joint venture
Ch 1 -14
Key Terms
Annual Objectives
Ch 1 -15
Key Terms
Policies
Ch 1 -16
Strategic Management Model
Ch 1 -17
Strategic Management Model
1. Identify Existing --
• Vision
• Mission
• Objectives
• Strategies
Ch 1 -18
Strategic Management Model
Ch 1 -19
Benefits of Strategic
Management
Ch 1 -20
Benefits of Strategic
Management
Financial Benefits
• Improvement in sales
• Improvement in profitability
• Productivity improvement
Ch 1 -21
Benefits of Strategic
Management
Non-Financial Benefits
Ch 1 -22
Benefits of Strategic
Management (Greenley)
1. Identification of Opportunities
2. Objective view of management problems
3. Improved coordination & control
4. Minimizes adverse conditions & changes
5. Decisions that better support objectives
Ch 1 -23
Benefits of Strategic Management
(Greenley – cont’d)
Ch 1 -24
Why Some Firms Do No
Strategic Planning
Ch 1 -25
Why Some Firms Do No
Strategic Planning
Fear of failure
Overconfidence
Prior bad experience
Self-interest
Fear of the unknown
Suspicion
Ch 1 -26
Guidelines for effective strategic management
Ch 1 -27
Comprehensive strategic management model
External
Audit
Chapter 3
Internal
Audit
Chapter 4
Ch 1 -28