management The concept of strategy ➢ Strategy is the great work of organization. In situations of life or death it is the Tao of survival or extinction. Its study cannot be neglected. ----SUN TZU‚ The Art of War.2500 B.C ➢ Strategy is about winning. ➢ Strategy is not a detailed plan or program of instructions‚ it is a unifying theme that gives coherence and direction to the actions and decisions of an individual or an organization. Characteristic of a winning strategy ➢ Goals that
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An essential part of corporate strategy is choosing the right portfolio of business to compete in especially when it concerns growth strategy and over the years this has become one of the key challenges faced by managers. It is highly imperative for business leaders to understand the different strategic options suitable for operating in various types of industries or markets. Suffice is to say that the business environment‚ which includes the competitive activity also plays a deep-seated role in
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CHAPTER 9: THE STRATEGIC GAINS FROM HORIZONTAL INTEGRATION AND DIVERSIFICATION Work‚ itself‚ is not organised as it used to be. Organisations are not now drawn as pyramids of boxes. [They] now have circles and amoeba-like blobs where boxes used to be. It isn’t even clear where the organisation begins and ends‚ with customers‚ suppliers and allied organisations linked into a varying ‘network organisation? Charles Handy‚ The Empty Raincoat (1994) The acid test of competitive success is the ability
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5 KEYS THAT DIFFERENTIATE SUCCESSFUL AND UNSUCCESSFUL BUSINESS LEADERS 1. Create a feeling of energy‚ fun and excitement in the organisation Unsuccessful: settle for who you are; accept your limitations; let morale take care of itself. Many leaders have a great attitude – sometimes known as a “can do” attitude and irrespective of whether they have the skills to do the specific job‚ they have the inspiration and focus to motivate their team to see the vision and this creates a certain
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strategic analysis was carried out in accordance with the Strategy Formulation Framework which was developed by Fred David. The strategic formulation framework encompasses three primary stages which comprises of the input stage‚ the matching stage and the decision stage. The report contains seven chapters and the first chapter is the introduction where each chapter of the report is described briefly. The second chapter describes the Strategy Formulation Framework. The descriptions in this chapter are
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Strategy is the direction and scope of an organization over the long term‚ which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling the stakeholder’s expectations. Strategic Decisions are about: The long-term direction of an organization The scope of an organization’s activities Gaining advantage over competitors; Addressing changes in the business environment; Building on resources and competences (capability); Value
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Strategy is a plan of action which is designed to help achieve a long term goal. It is how the plan of action is decided that determines whether the strategy developed will be achieved. It is all about the analysing the strength of businesses’ position and understanding the important factors that may influence that position. Strategy is of paramount importance in the business world‚ as without it managers and employees will be unable to coincide with each other and therefore the organisation will
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CHAPTER 6 STRATEGY FORMULATION: CORPORATE STRATEGY Corporate Strategy Corporate strategy deals with three key issues facing the corporation as a whole: 1. Directional strategy- the firm’s overall orientation toward growth‚ stability‚ or retrenchment 2. Portfolio strategy- the industries or markets in which the firm competes through its products and business units 3. Parenting strategy- the manner in which management coordinates activities‚ transfer resources‚ and cultivates
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China‚ they had 25% market share in 2004 where SGM only had 10%. VW’s target market was very different from GM’s. VW’s best selling sedan was the Santana which was targeted at the lower market‚ about half the price of GM’s Buick. VW’s competitive strategy was based on price‚ hence most taxi in China are VW Santana. What is GM and SAIC’s agenda in this JV GM’s agenda to enter the China market mainly has to do with the US domestic car market. The US auto market is very saturated with US citizen owned
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Session 1 PART III PART II WHAT IS STRATEGY ? Strategy Formulation Strategic Analysis Strategy Analysis Strategy Formulation Strategy Implementation Strategic Analysis Strategy Formulation Strategy Implementation Strategy Formulation Strategy Implementation 1 What is Strategy? 6 International Strategy & Globalization 2 Assessing Organizational Performance The General Environment Business Level Strategy 5 3 Internal Environment A Resource-based
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