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Principles of Management Strategy and Strategic Management

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Strategy and Strategic Management What Is Strategic Management? ... What began as a small Texas airline has grown to become one of the largest airlines in America. – PowerPoint PPT presentation

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Title: Principles of Management Strategy and Strategic Management


1
Principles of ManagementStrategy and Strategic
Management

2
What Is Strategic Management?
  • A set of managerial decisions and actions that
    determines the long-run performance of an
    organization
  • A formula of success

3
Strategy?
4
Seeing businesses NOT as what they appear!
  • What businesses are these organizations in?
  • MTR
  • DHL
  • IBM
  • McDonald
  • Disney

5
What is Strategy?
  • What are the differences
  • Vision
  • Mission
  • Value
  • Strategy

6
Vision and Mission
  • a vision for your future,
  • a mission that defines what you are doing,
  • values that shape your actions,
  • Strategies that zero in on your key success
    approaches,
  • Goals and action plans to guide your daily,
    weekly and monthly actions.

7
The University of Hong Kong
 
Vision
The University of Hong Kong, as a pre-eminent international university in Asia, seeks to sustain and enhance its excellence as an institution of higher learning through outstanding teaching and world-class research so as to produce well-rounded graduates with lifelong abilities to provide leadership within the societies they serve.
8
Vision
Time flies when you're having fun! More than 32
years ago, Rollin King and Herb Kelleher got
together and decided to start a different kind of
airline. They began with one simple notion If
you get your passengers to their destinations
when they want to get there, on time, at the
lowest possible fares, and make darn sure they
have a good time doing it, people will fly your
airline. And you know what? They were right. What
began as a small Texas airline has grown to
become one of the largest airlines in America.
Today, Southwest Airlines flies more than 65
million passengers a year to 59 great cities (60
airports) all across the country, and we do it
more than 2,800 times a day.
9
The Mission of Southwest Airlines The mission of
Southwest Airlines is dedication to the highest
quality of Customer Service delivered with a
sense of warmth, friendliness, individual pride,
and Company Spirit. Strategy We are committed
to provide our Employees a stable work
environment with equal opportunity for learning
and personal growth. Creativity and innovation
are encouraged for improving the effectiveness of
Southwest Airlines. Above all, Employees will be
provided the same concern, respect, and caring
attitude within the organization that they are
expected to share externally with every Southwest
Customer.
10
Vision
11
Strategy Management
Paradigm Shift
Contextual Shift
12
Strategic Management Process
13
Components of a Mission Statement
14
Seven Sources for Innovation Opportunities
An enterprise/ industry 1. The unexpected 2.
Incongruity 3. Process Need 4. Changes in
industry structure or market structure
5. Demographics
7. New knowledge
6. Changes in perception, mood and value
15
Levels of Org. Strategy
16
Functional Level Strategy
  • used to support the business-level strategy and
    culture
  • creates an appropriate supporting role for each
    functional area of the organization
  • e.g., manufacturing, marketing, human resources

17
Resource Allocation exercise
  • How much would you allocate to the following 4
    business units or divisions
  • Division Sales Sales Growth Mkt Share
    Resource
  • 1 8m 8 2 x competitor
  • 2 1m 20 0.5
  • 3 2m 8 0.5
  • 4 2m 20 2
  • Why?

18
The BCG Matrix
Stars Add resources, Build business
Question Marks Growth or retrench
Cash Cows Modest growth
Dogs Retrenchment, liquidate
19
Strategies to be Competitive
  • Cost Leadership
  • Differentiation
  • Focus

20
(No Transcript)
21
Your Strategy
Your Vision
Your Value
Your Mission
22
A Case Study
McDonalds
23
The Great Debate!
  • Is Management an Art ?
  • Is Management a Science?

24
Thank You
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