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DEFINITIONS Strategy is the ideas, decisions, and actions that enable a firm to succeed. MGT4380 Strategic Management3Shawna Chen
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MGT4380 Strategic ManagementCreating Competitive Advantages
IntroductionPrepared by Shawna Chen
STRATEGIC MANAGEMENT
What is strategy?
3
DEFINITIONS
Strategy is the ideas, decisions, and actions that enable a firm to succeed.
MGT4380 Strategic ManagementShawna Chen
4
TRANSLATION… PLEASE?
Strategy defines the boundary of what a company does and what it will and will not do.
What is the company’s core value?
MGT4380 Strategic ManagementShawna Chen
STRATEGIC MANAGEMENT
What is strategic management?
6
DEFINITIONS
Strategic Management consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.
MGT4380 Strategic ManagementShawna Chen
7
TRANSLATION… PLEASE?
Strategic Management is the “big picture” idea of how to run a business
What determines the total performance? Why do some companies succeed while others fail? How can you (the managers) do about it?
MGT4380 Strategic ManagementShawna Chen
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THE GOLDEN TRIANGLE OF A GOOD STRATEGY
Execution
ChallengeResources
MGT4380 Strategic ManagementShawna Chen
External Analysis
Internal Analysis
Strategic Formulation & Implementation
STRATEGIC MANAGEMENT
Why study strategic management?
10
COURSE DESCRITION
4380. Strategic Management (3).
Prerequisite: Business students in their final semester with a C or better in BLAW 3391, ISQS 3344, FIN 3320, MKT 3350, MGT 3370, and MGT 3373.
Strategy is an integrative course focusing on an organization’s pursuit of superior economic performance by deciding what business to be in and how to compete.
MGT4380 Strategic ManagementShawna Chen
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CONGRATULATIONS!
MGT4380 Strategic ManagementShawna Chen
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CONGRATULATIONS?
MGT4380 Strategic ManagementShawna Chen
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WHEN IN DOUBT… #WWHD
MGT4380 Strategic ManagementShawna Chen
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SO YOU’VE LEARNED…
MGT4380 Strategic ManagementShawna Chen
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IT’S TIME TO PIECE THEM TOGETHER
MGT4380 Strategic ManagementShawna Chen
Think BIG!
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COURSE DESCRITION (REVISED)
4380. Strategic Management (3).
Prerequisite: Business students in their final semester with a C or better in BLAW 3391, ISQS 3344, FIN 3320, MKT 3350, MGT 3370, and MGT 3373 to piece together the “big picture”.
Strategy is an integrative course focusing on an organization’s pursuit of superior economic as well as social and environmental performance by deciding what business to be in and how to compete in the real world.
MGT4380 Strategic ManagementShawna Chen
STRATEGIC MANAGEMENT
Learning Objectives
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COME UP WITH CREATIVE SOLUTIONS
MGT4380 Strategic ManagementShawna Chen
Bloom’s Taxonomy of Learning Domains
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REMEMBERING
MGT4380 Strategic ManagementShawna Chen
Read Ahead
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UNDERSTANDING
MGT4380 Strategic ManagementShawna Chen
Take Online Quiz before Class
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APPLYING
MGT4380 Strategic ManagementShawna Chen
Chapter Discussion
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ANALYZING
MGT4380 Strategic ManagementShawna Chen
Case Presentation
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EVALUATING & CREATING
MGT4380 Strategic ManagementShawna Chen
Final Project
STRATEGIC MANAGEMENT
Good Reads
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HBR’S 10 MUST READS ON STRATEGY
What is strategy? (1996) The five competitive forces that shape strategy (2008) Building your company’s vision (1996) Reinventing your business model (2008) Blue ocean strategy (2004) The secrets to successful strategy execution (2008) Using the balanced scorecard as a strategic management system
(2007) Transforming corner-office strategy into frontline action (2001) Turning great strategy into great performance (2005) Who has the D? How clear decision roles enhance organizational
performance (2006)
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OTHER
Bloomberg Businessweek Inc. The Economist Entrepreneur Forbes Fortune McKinsey Quarterly MIT Sloan Management Review Harvard Business Review Knowledge@Wharton strategy+business Wall Street Journal Wired
MGT4380 Strategic ManagementShawna Chen