Chapter 8 Strategy Formulation & Implementation. Strategic Management ► Process of determining an orgs basic mission & long-term objectives & then implementing.

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Presentation transcript:

Chapter 8 Strategy Formulation & Implementation

Strategic Management ► Process of determining an orgs basic mission & long-term objectives & then implementing a plan of action for pursuing this mission & attaining these objectives ► 4 Approaches to Formulate and Implement

4 Common Approaches ► Economic Imperative- ► Political Imperative- ► Quality Imperative- ► Administration Coordination-

Global & Regional Strategies ► Global Integration-Production/distribution of products & services of a homogeneous type & quality on worldwide basis. Autos/PC ► National Responsiveness- Need to understand the different consumer tastes in segmented regional markets & respond to different national standards & regs imposed by autonomous gov’s & agencies. Trucks

Basic Steps in Formulating Strategy ► 6Cic 6Cic 6Cic ► Environmental Scanning- WHS should consider this ► Internal Resource Analysis- Conducting this Analysis of Company’s strengths & weaknesses ► Formulating Goals- ► Figure 8-2

Team 8 ► Pages

Strategies for Emerging Markets ► First-Mover Strategies- ► Strategies for the “Base of the Pyramid”- Figure 8-5 ► cfK4 cfK4 cfK4 ► Should WHS Look at the bottom of the pyramid or top?