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TLIP5011A Presentation 1

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10 views

TLIP5011A Presentation 1

Uploaded by

email4johnn
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
You are on page 1/ 17

PRESENTATION 1:

INTRODUCTION TO STRATEGY
PRESENTATION 1 OUTLINE
The following areas are covered in this presentation:

• Strategy – Background

• The origins of strategic management

• What is strategic management?

• Mission and vision


INTRODUCTION TO STRATEGY
• Some questions we need to address from a strategic perspective of our
industry

− What will be the fuels for future means of transport?

− How can the T&L industry contribute to mitigating its environmental


impact?

− How can the bottlenecks in transport infrastructure be overcome?

− Will the supply chains of the future still be global in nature? Or will we be
experiencing a shift back to regional supply networks?

− Are the emerging markets of today the emerging markets of tomorrow?

− Is the maxim of sustainability and ethics a sustainable one or a temporary


fashion?

− Furthermore, what can managers and society expect in the future with high
probability?

− What surprises are lurking behind the next bend?


STRATEGY – BACKGROUND
• Strategic management consists of the analysis, decisions, and
actions an organisation undertakes in order to create and sustain
competitive advantages

• Main elements

− analysis of strategic goals

− analysis of the internal and external environment

− study of why some firms outperform others

− managers need to determine how a firm is to compete


WHAT IS STRATEGIC PLANNING?
• an organisational management activity

• used to set priorities

• focus energy and resources

• strengthen operations

• working toward common goals

• agree around intended outcomes/results

• assess and adjust organisational direction

• Effective strategic planning articulates not only where an


organisation is going and the actions needed to make progress,
but also how it will know if it is successful.
WHAT IS A STRATEGIC PLAN
• A strategic plan is a document used to communicate with the
entire organisation the organisations goals, the actions needed to
achieve those goals and all of the other critical elements
developed during the planning exercises.

• Strategic management activities transform the static plan into a


system that provides strategic performance feedback to decision
making and enables the plan to evolve and grow as requirements
and other circumstances change.

• Achieved via the systematic implementation of the strategy(s) or


strategy execution
STEPS IN STRATEGIC PLANNING &
MANAGEMENT
• 1) Analysis or assessment, where an understanding of the current
internal and external environments is developed.

• 2) Strategy formulation, where high level strategy is developed


and a basic organisation level strategic plan is documented.

• 3) Strategy execution, where the high level plan is translated into


more operational planning and action items.

• 4) Evaluation or sustainment / management phase, where


ongoing refinement and evaluation of performance, culture,
communications, data reporting, and other strategic management
issues occurs.
ORIGINS OF STRATEGIC MANAGEMENT
• derives from the ancient Greek word strategos used to describe
the leadership created by the council of generals in planning how
to deploy their army (stratos) to achieve their objectives

• Strategic management as a discipline originated in the 1950s and


60s. Although there were numerous early contributors to the
literature, the most influential pioneers were Alfred D. Chandler,
Jr., Philip Selznick, Igor Ansoff, and Peter Drucker.
WHAT IS STRATEGIC MANAGEMENT
• Decisions concerned with:

− the scope of the company’s activities

− matching those activities to the environment within which it is


operating

− matching the activities to its resource capabilities

− allocation of major resources

− taking account of the impact on operational decisions

− considering the values, goals and expectations of those influencing


strategy

− the long term direction

− assessing the implications of change


STRATEGIES - MAIN ELEMENTS
• Strategic analysis covers:

− the environment

− resources

− expectations, objectives and power

• Strategic choice covers:


− generation of options

− evaluation of options

− selection of strategy

• Strategy implementation is all about:


− resource planning

− organisation structure

− people and systems


STRATEGY STUDY AND KEY TOOLS
• establishing the desired goal

• conducting detailed analysis:

− external analysis: to understand the current industry structure and competitive forces and to evaluate the
company relative to its competitors and determine opportunities and threats

− internal analysis: to evaluate strategic capabilities and potential strengths and weaknesses

− stakeholder analysis: to ascertain the views of the main stakeholders

• agreeing the outline strategy

− generate strategic options

− understand consequences and capabilities

− select a best fitting strategy

• preparing the implementation plan

− establish deliverables

− instigate project control

− write business plans

− undertake strategic management development

− build a review model


STRATEGY STUDY AND KEY TOOLS
• for the external analysis

− industry structure analysis using Porter’s model of the five competitive forces

− drivers of change analysis using PEST (Politics, Economics, Technology, Social/demographics)

− using value added analysis to compare generic strategies used by competitors

• for the internal analysis

− Porter’s value chain analysis

− Kaplan and Norton’s balanced scorecard

− for agreeing a strategy

− Porter’s generic strategies (Cost leadership, Differentiated, Focus)

− Mintzberg’s emergent strategies

− SWOT analysis

− scenario planning

− Ansoff’s growth matrix (Market, Product, Existing, New)

− BCG’s product portfolio matrix (Star, Cash cow, Question mark, Dog)
STRATEGIC MANAGEMENT PROCESS
MODELS
SMP WITH GOVERNANCE FACTORS
SMP – CORPORATE PRESPECTIVE
IMPLEMENTATION
• Essentially, the keys to any successful implementation will be
dependent upon how well you;

− can gather and interpret information

− adapt to change

− manage staff and resources

− promote the organisation

− look after customers


VISION AND MISSION
• Mission and vision statements play three critical roles:

• (1) communicate the purpose of the organisation to stakeholders,

• (2) inform strategy development, and

• (3) develop the measurable goals and objectives by which to


gauge the success of the organisation’s strategy.

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