Charting a Company’s Direction

Slides:

Advertisements

Similar presentations

Business Strategic Management

Advertisements

Long 1 Grammar Who – People That –Things They’re – Their Subject-Verb Disagreement (those kind, profits has) Preposition at end of sentence: (several to.

Where are you headed? Will you be the first to know when you have “arrived?”

Do You Know ???.

1 Dec. 4 Agenda Update on final essays – Library databases – APA style – Submission procedures Course review Course evaluations.

1-1 CHAPTER 2 Leadership and the Strategic Management Process McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter 2 The Path to a Successful Business. McGraw-Hill© 2004 The McGraw-Hill Companies, Inc. All rights reserved. Because Business Decision Making is.

THE BALANCED SCORECARD

SUSTAINABILITY DEFINITION

McGraw-Hill/Irwin ©2009 The McGraw-Hill Companies, All Rights Reserved Marketing Concept, Customer Needs, American Marketing Association, Customers, Employees,

1 Vision and Mission Some thoughts and examples. 2 Developing a Strategic Vision  Involves thinking strategically about  Firm’s future business plans.

1-1 CHAPTER 2 Leadership and the Strategic Management Process McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved.

Strategic Management Process

Vision & Mission Statement

Identity & Purpose Desired State Vision 2012 Target Achievements Projection into the external environment Key Successful factors / Value Drivers / Internal.

Strategic Management Strategic Management: Concepts and Cases, 11/E Strategic Management: Concepts and Cases, 11/E by Fred David.

1 Introduction 2 The Current Candy Masters Center: David Shaffer, Co-CEO Right: Ross Born, Co-CEO.

Chapter 1 Marketing Strategy Chapter 1 Strategic Market Planning.

Leveraging the it balanced scorecard as alignment instrument

Corporate Mission and Values Lecture 4. Robinson College of Business Mission--The J. Mack Robinson College of Business is committed to excellence in the.

Part IV: Vision Values Mission

Strategic Planning: Making Choices in a Dynamic Environment

Strategic Planning and the Marketing Management Process.

Strategic Marketing Planning Capturing the Big Picture.

Palm Coast City Council STRATEGIC ACTION PLAN 2012.

Fall 2005Organization Goals1. Fall 2005Organization Goals2 Why do goals exist? Organizational legitimacy Employee direction and motivation Decision guidelines.

Strategic Marketing Planning Week 2 Dr. Ananda Sabil Hussein.

Strategic Planning: Developing and Implementing a Marketing Plan.

THE APPAREL LOGISTICS GROUP, LTD OPERATIONS EXCELLENCE October 2014.

4/6/2011 Team Members :Krystal Brown, Jasmine Cooley Aretas Coleman, Jeremy Lewis, Terry Kerr.

1 Determining the High-level Direction of Information Systems Part 1.

MARKETING MANAGEMENT 12 th edition 2 Developing Marketing Strategies and Plans KotlerKeller.

District Improvement Plan September 21, 2015.

YUM Brands Inc..

Ch 2 -1 Chapter 2 The Business Vision & Mission. Ch 2 -2 Chapter Outline What do we want to become? What is our business? Importance of Mission Statements.

Planning, Strategy, Effectiveness: Overview u Engage in SWOT Analysis u Establish and Communicate Mission/Goals u Set Priorties (bargaining, if necessary)

STRATEGIC MANAGEMENT ACCOUNTING The Balanced Scoreboard Companies must mobilize and deploy intangible assets to create and sustain competitive advantage.

DIRECTION SETTING: VISIONS, MISSIONS, VALUES, AND OBJECTIVES

Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall The Business Vision and Mission Chapter Two.

1 Grammar Who – People That –Things They’re – Their Subject-Verb Disagreement (those kind, profits has) Preposition at end of sentence: (several possible.

Food Safety, Work Place Safety, and Emergency Preparedness National Food Service Management Institute The University of Mississippi 1.

The Nature of Business McGraw-Hill  The McGraw-Hill Companies, Inc., 2001.

Charting a Company’s Direction Generate Vision and Mission (Ch. 2) Set Objectives to Achieve Vision (CH. 2) Develop Strategy to Achieve Objectives – Evaluate.

Southwest Airlines: Not your typical company!. The Mission of Southwest Airlines n The mission of Southwest Airlines is dedication to the highest quality.

Unit 10 Final Assignment: Strategic Plan Presentation

Strategic thinking Chapter 1.

Strategic Planning for the Administrator

Organizational resources and competitive advantage

DIRECTION SETTING: VISIONS, MISSIONS, VALUES, AND OBJECTIVES

Strategic Planning and the Marketing Management Process

The Business Vision and Mission

CHAPTER 2 CHARTING A COMPANY’S DIRECTION: VISION AND MISSION, OBJECTIVES, AND STRATEGY Student Version Copyright ®2012 The McGraw-Hill Companies, Inc.

Workplace Safety and Emergency Preparedness

Understanding Product/Service Positioning

Performance Measurement

Organizational resources and competitive advantage

Strategic Marketing Planning Week 2

Dr. Laura Whitcomb BUS 4970 Fall 2016

The Business Vision and Mission

Finance & Accounting Procter and Gamble Finance and Accounting is about investing in the future. Both in our businesses and our employees. (Next Slide)

AEIS: 607 Lecture 2: HRM Strategy And Analysis

Mission Statement Vocabulary Ideas

5 BUSINESS MANAGEMENT © 2007 Prentice Hall, Inc. All rights reserved.

Marketing Management Indicator 1.03

Chapter 2 The Marketing Plan

Chapter 1: INTRODUCTION TO STRATEGIC MARKETING

The Best Contact Center Indonesia 2019

Empty Strategic Plan Summary

Sodales Labor Relations Software | Business Transformation Study | Restaurants Brands NPC International Improves Organizational Compliance and Employee.

Contact center INNOVATION

Presentation transcript:

Charting a Company’s Direction Generate Vision and Mission (Ch. 2) Set Objectives to Achieve Vision (CH. 2) Develop Strategy to Achieve Objectives Evaluate company’s external situation (Ch. 3) Evaluate company’s internal situation (Ch. 4) Identify strategic options (Ch. 5) Evaluate options and choose one or more (Chs. 5 & 6) Execute Strategy (Chs. 10 & 11) Monitor Progress / Performance and Adjust

Vision Vision: describes where the company is going in the future. Distinctive to company and specific (not generic) Give direction to employees Heinz We define a compelling, sustainable future and create the path to achieve it. ??? Samsung Electronics Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with our partners and customers, Samsung is taking the world in imaginative new directions. Burger King Burger King aims to be the most profitable QSR business, through a strong franchise system and great people, serving the best burgers in the world. Sony

Mission Mission Describes present business and purpose Identify products/services Identify customer/market served

Mission Trader Joe’s mission OSHA The mission of Trader Joe’s is to give our customers the best food and beverage values that they can find anywhere and to provide them with the information required for informed buying decisions. We provide these with a dedication to the highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual pride, and company spirit. OSHA To assure the safety and health of America’s workers by setting and enforcing standards; providing training, outreach and education; establishing partnerships; and encouraging continual improvement in workplace safety and health.

Objectives Objectives measure the company’s performance progress toward vision. Should be a balance of: Financial objectives (profitability, financial/investor attractiveness) Strategic objectives (market standing, competitive position) Should be specific and measurable. Should be set at all organizational levels.

Objectives Yum! Brands (KFC, Pizza Hut, Taco Bell) Pepsico Increase emerging markets operating profits from 48% to 57% in 2015 Open 100 new Taco Bell units in 2015 Increase number of KFC units in Africa from 65 to 2,100 in 2020 Pepsico Improve water use efficiency by 20% per unit of production by 2015 Reduce total packaging weight by 350 million pounds

Strategy Vision + Objectives + Strategy = A Strategic Plan Strategy articulates how the company will act to achieve the objectives. Strategic action plan cascades through all company levels: Corporate – determine markets, diversification Business unit – support corporate objectives Functional area – production, marketing, R&D, etc. Operational – brand management, quality control, etc. Vision + Objectives + Strategy = A Strategic Plan

Strategy Execution See Walmart 2015 talk to investors. – pgs. 11 and 18 Target Corp Plans to Transform Business Which are strategic objectives and which are financial objectives?