Title: Benefits of Strategic Thinking and a Strategic Approach to Managing
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4Benefits of Strategic Thinking and a
Strategic Approach to Managing
- Guides entire firm regarding what it is we are
trying to do and to achieve - Makes managers more alert to winds of change,
new opportunities,and threatening developments - Unifies numerous strategy-related decisions and
organizational efforts - Creates a proactive atmosphere
- Provides basis for competing and achieving
competitive advantage - Helps a Company prepare for the Future !
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6Management Levels
Skills Needed
Conceptual
Human
Technical
7Managerial Skills
8Managerial Skills
- Technical Skills
- The ability to use the procedures, techniques
and knowledge of a specialised field. - Interpersonal Skills
- The ability to work with, understand, and
motivate other people as individuals and teams. - Conceptual Skills
- Ability to think analytically and strategically
and solve complex problems
9Strategic Thinking Definition
The ability to look at the future of the
organization and focus on key interdependence of
organization and its environment.
10OShannassy (2005)
- Strategic thinking is a particular way of solving
strategic problems and opportunities at the
individual and institutional level combining
rational and generative thought processes. -
11Strategic Thinking Model(Jeanne Liedtka , 1998)
INTENT FOCUSED
SYSTEMS PERSPECTIVE
STRATEGIC THINKING
INTELLIGENT OPPORTUNISM
THINKING IN TIME
HYPOTHESIS DRIVEN
12Strategic Thinking
- Systems Perspective (Interconnections)
- Focus on Intent (Vision and Capabilities)
- Intelligent Opportunism (Whats there?)
- Thinking in Time (Past, present, future)
- Hypothesis driven (If A, then B?)
Adapted from Jeanne Liedtka , Elements of
Strategic Thinking
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J.Liedtka
14A Framework for Strategic ThinkingThe Role of
Strategy
- Behind every successful organization , there is a
strategy
15A Framework for Strategic ThinkingThe Role of
Strategy
A combination of effective strategies and
excellent execution
Strategy
Effective
Ineffective
Long Term Success
Success Unlikely
Excellent
Execution
Maybe successful For a while
Failure
Poor
16Strategic thinking
Seeing a larger picture
Understanding the past
Intuition
Creativity
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18Strategic Thinking Levels
- Individual
- Organizational
19A Framework of Strategic Thinking
Thinking
Planning
Learning
Doing
Strategic Management
20Strategic Thinking Instruments
1- Synergy
2- Product Life Cycle
3- Porters Generic Strategies
4- Industry Ecosystem
211- Synergy
1-1 Market synergy 1-2 Cost Synergy 1-3
Technological Synergy 1-4 Management Synergy
222- The Product Life Cycle
Sales volume (units) And profit
Sales
Profit
Profit area
Loss area
Introduction
Growth
Maturity
Decline
Product life Cycle stages
23Stage pre-commercialization
Strategy Innovate
- Strategic Concerns
- Research and develop new
- products / services
- Forecast sales and key trends
- Conduct production and marketing tests
- Begin to gather and train personal.
24Stage
Introduction
Strategy Infiltrate
- Strategic Concerns
- Build relationships with reliable suppliers
- Plan financing for negative cash flow period
- Scale up production and marketing operations
- Anticipate competition
25Stage Growth
Strategy Advance
Strategic Concerns
- Research and develop competitive innovations for
present products - Seek economies of scale in production
- Study competitors
- Build brand preference and product loyalty.
26Stage Maturity
Strategy Defend
- Strategic Concerns
- Cut costs in production and marketing to fight
declining profit. - Consider extending product life cycle via
reintroduction or product update. - Emphasize customer service
- Tap neglected market segments.
27Stage Decline
Strategy Withdraw
- Strategic Concerns
- Scale down production and
- marketing
- Trim inventories
- Reassign personnel
- Cut promotion costs and compete on the basis of
price. - Plan termination of product or line.
283-Porters Generic Competitive Strategies
Competitive Advantage
Lower Cost
Uniqueness
Broad
Cost Leadership
Differentiation
Competitive Scope
Focused Differentiation
Narrow
Cost Focus
29External Environment
- Remote Environment
- Economic
- Social / cultural
- Political / Legal
- Technological
- International
Industry Environment
Potential Entrances
Rivalry
among existing firms
Suppliers
Buyers
Substitutes
- Operational Environment
- Customers
- Competitors
- Creditors
- Labor Market
- Suppliers
Organization
30Potential Entrants
Threat of New Entrants
Industry Competitors Rivalry Among Existing
Firms
Bargaining Power of Suppliers
Buyers
Suppliers
Bargaining Power of Buyers
Threat of Substitute Products or Services
Substitutes
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