Managament

STRATEGIC MANAGEMENT AND INTERNATIONAL STRATEGY

Elkhan Nabiyev

STRATEGY IN ACTION, DIFFERENTIATION STRATEGIES BASIC TYPES OF ORGANIZATIONAL STRUCTURE

Outline

   

Strategies in Action Types of strategies Michael Porter’s Generic Strategies Basic types of structure

Comprehensive Strategic Management Model

Ch. 5-4

External Audit Chapter 3

Vision & Mission Statements

Strategies In Action

Generate, Evaluate, Select Strategies

Implement Strategies: Mgmt Issues

Chapter 5

Internal Audit Chapter 4

Chapter 6

Chapter 7

Implement Strategies: Marketing, Fin/Acct, R&D, CIS

Measure & Evaluate Performance

Chapter 8

Chapter 9

Chapter 2

© 2001 Prentice Hall

Quotation

“Planning. Doing things today to make us better tomorrow. Because the future belongs to those who make the hard decisions today.”

—Eaton Corporation—

“If you don’t invest for the long term, there is no short term.”

—George David—

Long-Term Objectives

Results expected from pursuing certain strategies 

Time frame —2 to 5 years

Nature of Long-Term Objectives

Quantitative  Measurable  Realistic  Understandable  Challenging  Hierarchical  Obtainable  Congruent among organizational units

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Nature of Long-Term Objectives

Objectives are associated with a time line and stated in terms: • Growth in assets • Growth in sales • Profitability • Market share • Diversification • Integration • EPS • Social responsibility

Nature of Long-Term Objectives

Objectives are the basis for:

• • • • •

Designing jobs Organizing activities Providing direction Organizational synergy Standards for evaluation

Nature of Long-Term Objectives

Ch. 5-10

Strategists should avoid: • Managing by extrapolation  “If it ain’t broke, don’t fix it.” • Managing by crisis:  Reactive vs. proactive • Managing by subjectives:  Mystery approach to decision making  Subordinates are left to figure out what is happening and why • Managing by hope: ...