strategic management(lecture 3) done
DESCRIPTION
hyyTRANSCRIPT
Basic Concepts of Strategic Management
Prof. V.S. Bhakre
Hon. Prof. Industry-Institute
Interaction
Basic Concepts of Strategic Management
Strategic Organisational Planning
SituationAssessment
OrganizationalMission
OrganizationalObjectives
SituationAssessment
The Situation Assessment
OrganizationalMission
OrganizationalObjectives
OrganizationalMission
Analyze the organization’s resources and capabilities
to identify strengths, weaknesses, and distinctive
competencies
Monitor the environment to identify threats
And opportunities face the organization.
Approaches to Strategic Planning
Environment Scanning
Where R we? How did we reach here?
Analysis of Firm’s Strengths& Weaknesses SWOT
Objective Setting
Development & Evaluate Strategy options
Strategic Decision making
Implementation
Who R our competitors? & their Strategic
Or
Hindrances in our Situation
Market Share?
What R the key facilitators
R.O.I?
Sales Turnover?
SWOT ANALYSIS- TO ASSESS SITUATION
SWOT- Can be used to develop alternate strategies.
SWOT illustrates how external opportunities & threats- can be matched with internal strengths & opportunities
Used for corporate & Business Strategies
Strengths
(Internal)
Opportunities
(External)
Weaknesses
(Internal)
Threats
(External)
Opportunities: External available in the Company’s current & future environment
Threats: Now & Future
Strengths: Specific areas of current & future
Weaknesses; Areas of Current & future
Factors to be considered (Internal) (vary from case to case)
STRENGTHS WEAKNESSES
- Quality
- Top Management
- Employee Relation
- Product Mix
Evaluate on A Scale 1-5
5- Excellent 1-Poor
Financial position
Distribution channel
Manufacturing facility
R & D
EXTERNAL FACTOR ANALYSIS
Opportunities & Threats (Evaluate on Scale –57)
Government Policy
Competition
Demographic
Culture & Social Acceptance
Technological Development by country & world at large
Ecology
SWOT – Matrix- on of many ways to generate alternative strategies.
A Few Vision Statements1. We do it for You McDonald
2. We Make it Simple Honda
3. 3M hears you 3M
4. IBM Means Service IBM
5. U comes before I U.B.I
6. To fly is to Serve British Airways
7. R.I.L An Institution that contributes to India on Sustainable basis.
8. GE “Imagination”
9. ADAG Think Bigger, Think Better
10. A global giant in Power Solutions Crompton Greaves
11. Quality Education through innovative Methodologies VPM