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Strategic Management 1 3 PDF

Strategic management involves 4 phases: environmental scanning, strategy formulation, implementation, and evaluation & control. The levels of strategy include corporate, business unit, and functional strategies. Corporate strategies focus on the overall direction and include growth, stability, or retrenchment options. Business unit strategies consider the competitive position within an industry. Functional strategies relate to areas like marketing, finance, and operations.

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51 views20 pages

Strategic Management 1 3 PDF

Strategic management involves 4 phases: environmental scanning, strategy formulation, implementation, and evaluation & control. The levels of strategy include corporate, business unit, and functional strategies. Corporate strategies focus on the overall direction and include growth, stability, or retrenchment options. Business unit strategies consider the competitive position within an industry. Functional strategies relate to areas like marketing, finance, and operations.

Uploaded by

ROCACORBA, ROSEMARIE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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STRATEGIC

MANAGEMENT
MODULES 1,2 AND 3
MODULE 1: INTRODUCTION TO STRATEGIC MANAGEMENT
LEARNING OBJECTIVES
DISCUSS THE CONCEPT OF STRATEGIC
01 MANAGEMENT

02 DIFFERENTIATE STRATEGY AND


POLICY
STRATEGY
in simple language, is an elaborate plan to
achieve a
certain or specific goal. It utilizes strengths
in order to achieve goals.

MANAGEMENT
how businesses organize and direct
workflow, operations, and employees to
meet company goals. The primary goal of
management is to create an environment
that lets employees work efficiently and
productively.
STRATEGIC MANAGEMENT
Strategic management is a set of managerial
activities and decisions that help determine the
long-term
outcome of an organization. These activities and
decisions decide the direction that the organization
might take. The process takes into account factors
from internal and external environments to come up
with decisions for the organization. In conclusion, it
becomes a framework that shapes the destiny of an
organization.
STRATEGIC MANAGEMENT IS:
01 Putting the organization into a
competitive position

Sustaining competitive position by studying


environmental factors, and responding to or
02 getting
ahead of it.

03 Monitoring and responding to


stakeholders’ interests.
HOW WILL STRATEGIC MANAGEMENT HELP AN
ORGANIZATION?
01 Clearer sense of strategic vision for
the organization

02 Sharper focus on strategically important


matters.

03 Better understanding of
environmental factors

04 Ability to become proactive, rather


than reactive.

05 Operational efficiency
THINGS TO REMEMBER
STRATEGY
– elaborate plan to achieve a certain organizational goal. It is a comprehensive plan that
tells how an organization can attain its objectives.

POLICY
-a broad guideline for decision making of an organization. These guidelines make sure that
actions are aligned to make sure that strategies are implemented right, and that
organizational
objectives are met.
TACTIC
-day to day operational business activities that support
strategies.
MODULE 2: STRATEGIC MANAGEMENT MODEL AN ITS PHASES
LEARNING OBJECTIVES
ENUMERATE THE DIFFERENT PHASES OF
01 STRATEGIC MANAGEMENT.

DEFINE EACH PHASE OF


02 STRATEGIC MANAGEMENT.

03 DISCUSS THE RELATIONSHIP OF


STRATEGY TO SWOT
STRATEGIC MANAGEMENT MODEL
Strategic Management is a systematic process.
There are different strategic management models that
you can
use, but the model proposed by Wheelen and Hunger
can be argued to be the most simple but effective.

4 PHASES
01
ENVIRONMENTAL 03 STRATEGY
SCANNING; IMPLEMENTATION;

02 STRATEGY FORMULATION; 04 EVALUATION AND CONTROL.


ENVIRONMENTAL SCANNING
This is the phase of strategic planning where the
environmental factors are taken into consideration. It
involves
identifying, monitoring, evaluating, and communicating
pieces of information for the internal and external
environment to key people in the organization. The key
purpose of environmental scanning is to identify key
factors that are critical to creating strategies.

In order to find out these key factors, a SWOT analysis is


usually conducted. Tools such as the PESTLE analysis and
Porter’s 5 Forces are also used in order to have a better
understanding of the different environmental factors.
STRATEGY FORMULATION
This is the phase where you set strategic
objectives and formulate strategies to
achieve organizational and
strategic objectives. Information gathered
during environmental scanning phase is taken
into consideration in order to come up with
long term plans of how the organization will
achieve its goals and objectives.
SWOT ANALYSIS STRENGTH
Take an organization that
has a lot of money for instance. The easiest way it can
lessen its competition is to use its money to buy off
competitors.

WEAKNESSES
they key is to at least try to minimize the weakness,
or much better, eliminate the weakness
itself. Weaknesses can expose organizations. It can
make the impact of threats much greater. They can
impose a hurdle for organizations to exploit
opportunities.

OPPORTUNITIES
Opportunities are reward gaining. Strategies to be
should focus on how to capitalize on these
opportunities to
profit from them in the long-run.

THREATS
Threats, on the other hand, are external factors that
can negatively impact the organization. They are
events
that can make it difficult for the organization to
operate.
STRATEGY
IMPLEMENTATION
This phase is where an organization puts
the strategies and policies into motion. This
is done by coming up
with programs, budget, and procedures. By
implementing the strategies, it could mean
a little change in list of
products, or change in menu, up to a
change in management, or organizational
culture. Implementation is
usually done by the middle-level and
lower-level managers, and ultimately the
rank-and-file, along with the
supervision of top-level managers.
EVALUATION AND CONTROL
This is the process where the results and
outputs of strategies is monitored.
Performance is checked and
compared to desired results and
objectives. If it does not live up to what is
expected, then information is fed
back to where it is needed, and then revise
parts of strategy where it is needed to be
changed. It is also
possible to change the strategy wholly.
MODULE 3: LEVELS OF STRATEGY
LEARNING OBJECTIVES
DIFFERENTIATE BETWEEN THE LEVELS OF
01 STRATEGY

DEFINE THE DIFFERENT


02 CORPORATE STRATEGIC OPTIONS.
CORPORATE LEVEL STRATEGY
at this level, the main concern is the overall direction of the
organization.
Top level managers like the CEO and the Board of Directors
need to plan on how they want the
organization to move forward. Whatever is planned here will
become the guide of the whole
organization to which steps it will take towards the future.
Mission and vision is particularly discussed or
reviewed at this level. Strategic objectives are also specified
by top level managers. Three main
categories of strategy in this level is stability, growth, and
retrenchment.
CORPORATE LEVEL
STRATEGY
GROWTH STABILITY RETRENCHMENT
refers to sustaining current Retrenchment strategies are
pertains to expanding the
business. Businesses might want more conservative. This
business. An organization might
to focus on enhancing their approach could mean
want to enter new industries, put
product offering. They can also cutting off expenses,
up new businesses and business look into improving level of decreasing production,
models, or add new products to assets by cost cutting divesting money from
its existing portfolio, or create techniques, business, or ultimately, an exit
bettermarket share. increasing operational efficiency
strategy.
and such.
LEVELS OF STRATEGIC MANAGEMENT

BUSINESS LEVEL STRATEGY


strategies on the business unit level.
At this level, the main concern is the
competitive position of a certain
business unit in a specific industry.
FUNCTIONAL LEVEL STRATEGY
this level pertains to strategies in the
different functional areas of an
organization such as marketing,
human resource, operations,
finance, accounting, research and
development, and so on.

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