Bus 411 Day 8 Copyright 2005 Prentice Hall1. Ch 1 -2 Agenda Question? Assignment 2 DUE Assignment 3 Posted  IFE and Ratio analysis  Due Feb 12:30.

Slides:



Advertisements
Similar presentations
Chapter 5 Strategies in Action
Advertisements

Strategies in Action Chapter Five.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -1 Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 13 th.
Chapter 5 Strategies in Action
Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy.
Strategies in Action Chapter Five.
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -1 Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 13 th.
A Framework for Marketing Management
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -1 Not Managing by Objectives Managing by Extrapolation – “If it ain’t broke,
Copyright ©2015 Pearson Education, Inc Strategies in Action Chapter Five.
Copyright 2005 Prentice Hall1 Bus 411 Day 9. Copyright 2005 Prentice Hall Ch 3 -2 Agenda Assignment #2 Corrected  4 A’s, 2 C’s (missing questions for.
Copyright 2005 Prentice Hall1 BUS 411 Day 8. Copyright 2005 Prentice Hall Ch 5 -2 Agenda Assignment #2 Corrected  1 A, 6 B’s, 1 C and 1 non-submit 
Business Policy and Strategy
Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -1.
© 2001 Prentice Hall Ch. 5-1 Strategies in Action Long-Term Objectives: Results expected from pursuing certain strategies  Time frame —2 to 5 years.
Chapter 5 Strategies in Action. Long-Term Objectives Objectives --  Quantifiable  Measurable  Realistic  Understandable  Challenging.
Chapter 7- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Seven Customer-Driven Marketing Strategy: Creating Value.
Copyright © 2011 Pearson Education
Alternative strategies
5-1 Chapter Five Industry Analysis Dr. Bruce Barringer University of Central Florida.
2- 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall i t ’s good and good for you Chapter Two Company and Marketing Strategy Partnering.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -1 Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 12 th.
Ch 5 -1 Copyright 2007 Prentice Hall Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 11 th Edition Fred David.
Ch 5 -1 Copyright 2007 Prentice Hall Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 11 th Edition Fred David.
8-1 Organizational Design and Strategy in a Changing Global Environment Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall.
Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-1 Mergers, Acquisitions, and Strategic Human Resource Management Chapter 3.
Vision & Mission Strategy Formulation External Opportunities & Threats Internal Strengths & Weaknesses Alternative Strategies Strategy Selection Strategic.
Strategies in Action Chapter Five.
Lecture 13 Strategies in Action. Lecture Outline Defensive Strategies.
Copyright 2005 Prentice Hall1 Bus 411 Day 8. Copyright 2005 Prentice Hall Ch 3 -2 Agenda Assignment #2 Not corrected  Still missing two submissions 
© 2012 Pearson Education, Inc. publishing Prentice Hall. Note 13 Market-Share Effects.
Chapter 5 Strategies in Action
Lecture 12 Strategies in Action. Lecture Outline Long-Term Objectives Types of Strategies Integration Strategies.
Alternative strategies. Vision & Mission and Objectives Strategy Formulation Internal evaluation External evaluation Generic Alternative Strategies Strategy.
Chapter Six Competitor Analysis and Sources of Advantage.
Chapter Six Competitor Analysis and Sources of Advantage.
Chapter 5 Strategies in Action Week 5. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -2 Long Term Objectives Quantitative.
© 2012 Pearson Education, Inc. publishing Prentice Hall. Note 7 Company Assessment— The Value Chain.
Chapter 18- slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Eighteen Creating Competitive Advantage.
Chapter Twelve Offensive Strategies. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 12-2 Offensive Strategies Strategic market plans.
STRATEGY FORMULATION Business Research 1. VG Orjalo2 SWOT/TOWS Analysis SWOT Analysis refers to the listing of identified stengths, weaknesses, opportunities.
Strategy in action- Corporate Strategy Business Strategy
Alternative strategies. Vision & Mission and Objectives Strategy Formulation Internal evaluation External evaluation Generic Alternative Strategies Strategy.
Copyright 2007 Prentice Hall Ch 5 -1 Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 11 th Edition Fred David.
Chapter Five Market Segmentation and Segmentation Strategies.
Strategic Management #5 Strategies in Action
© 2012 Pearson Education, Inc. publishing Prentice Hall. Note 13 Market-Share Effects.
Organizational Design and Strategy in a Changing Global Environment 1.
Visit UMT online at © 2005 UMT Version MGT195 Visit UMT online at BUSINESS POLICY AND STRATEGY University.
Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall 1 BUS 411 DAY 8.
CHAPTER 4 Opportunity Analysis, Market Segmentation, and Market Targeting.
Strategies in Action Chapter 7. Integration Strategies  Forward integration  involves gaining ownership or increased control over distributors or retailers.
Slide 9-1 © 2013 Pearson Education, Inc. publishing as Prentice Hall CHAPTER 9 Marketing Strategy Reformulation: The Control Process.
Chapter Eleven Portfolio Analysis and Strategic Market Planning.
Copyright ©2015 Pearson Education, Inc Strategies in Action Chapter Five.
Copyright ©2017 Pearson Education, Inc.
18-1 Copyright © 2012 Pearson Education i t ’s good and good for you Chapter Eighteen Creating Competitive Advantage.
Chapter 5 Strategies in Action
Chapter 5 Strategies in Action
Types of Strategies Chapter Four.
Creating Competitive Advantage
PART 5 : Strategies in Action
Strategies in Action Chapter Five. Chapter Objectives 1. Discuss the value of establishing long-term objectives. 2. Identify 16 types of business strategies.
Types of Strategies Chapter Four.
Strategic Human Resource Management
Chapter 5 Strategies in Action
Pricing Strategy and Management
Pricing in B2B Marketing
Chapter 5 Strategies in Action
Presentation transcript:

Bus 411 Day 8 Copyright 2005 Prentice Hall1

Ch 1 -2 Agenda Question? Assignment 2 DUE Assignment 3 Posted  IFE and Ratio analysis  Due Feb 12:30 PM  Bus 411 assignment three.pdf Bus 411 assignment three.pdf Begin Discussion on Strategies in Action

Copyright 2005 Prentice Hall Ch 3 -3

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -4 Chapter 5 Strategies in Action Strategic Management: Concepts & Cases 13 th Edition Fred David

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -5

CHAPTER OBJECTIVES Discuss the value of establishing long-term objectives. Identify 16 types of business strategies. Identify numerous examples of organizations pursuing different types of strategies. Discuss guidelines when particular strategies are most appropriate to pursue. Discuss Porter’s five generic strategies. Describe strategic management in nonprofit, governmental, and small organizations. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 2 -6

Discuss joint ventures as a way to enter the Russian market. Discuss the Balanced Scorecard. Compare and contrast financial with strategic objectives. Discuss the levels of strategies in large versus small firms. Explain the First Mover Advantages concept. Discuss recent trends in outsourcing. Discuss strategies for competing in turbulent, high velocity markets. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 2 -7

Copyright 2005 Prentice Hall Ch 3 -8 Strategies for taking the hill won’t necessarily hold it. – Amar Bhide Strategies in Action The early bird may get the worm, but the second mouse gets the cheese. – Unknown

Copyright 2005 Prentice Hall Ch 3 -9 Strategies in Action -- Quest for higher revenues -- Quest for higher profits Companies Embrace Strategic Planning

Copyright 2005 Prentice Hall Ch Results expected from pursuing certain strategies Strategies represent actions to accomplish long-term objectives Long-Term Objectives

Copyright 2005 Prentice Hall Ch A SMART way to Look at Objectives 1.Specific – Objectives should specify what they want to achieve. 2.Measurable – You should be able to measure whether you are meeting the objectives or not. 3.Achievable - Are the objectives you set, achievable and attainable? 4.Realistic – Can you realistically achieve the objectives with the resources you have? 5.Time – When do you want to achieve the set objectives?

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Long Term Objectives Quantitative Measurable Realistic Understandable Challenging Hierarchical Obtainable Congruent

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -13

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -14

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Financial vs. Strategic Objectives Financial Objectives Growth in revenues Growth in earnings Higher dividends Larger profit margins Greater ROI Higher earnings per share Rising stock price Improved cash flow

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Financial vs. Strategic Objectives Strategic Objectives Larger market share Quicker on-time delivery than rivals Shorter design-to-market times than rivals Lower costs than rivals Higher product quality than rivals Wider geographic coverage than rivals Achieving technological leadership Consistently getting new or improved products to market ahead of rivals

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Not Managing by Objectives Managing by Extrapolation – “If it ain’t broke, don’t fix it” Managing by Crisis – The true measure of a good strategist is the ability to fix problems Managing by Subjectives – “Do your own thing, the best way you know how” Managing by Hope – The future is full of uncertainty and if at first you don’t succeed, then you may on the second or third try

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch The Balanced Scorecard Robert Kaplan & David Norton – Strategy evaluation & control technique Balance financial measures with nonfinancial measures Balance shareholder objectives with customer & operational objectives

Balanced Scorecard Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Adapted from Robert S. Kaplan and David P. Norton, “Using the Balanced Scorecard as a Strategic Management System,” Harvard Business Review (January-February 1996): 76.

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Levels of Strategies – Large Company

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Levels of Strategies – Small Company

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Types of Strategies Vertical Integration Strategies Forward Integration Backward Integration Horizontal Integration

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Vertical Integration Strategies Forward Integration Gaining ownership or increased control over distributors or retailers Backward Integration Seeking ownership or increased control of a firm’s suppliers Horizontal Integration Seeking ownership or increased control over competitors

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Types of Strategies Intensive Strategies Market Penetration Market Development Product Development

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Intensive Strategies Market Penetration Seeking increased market share for present products or services in present markets through greater marketing efforts Market Development Introducing present products or services into new geographic areas Product Development Seeking increased sales by improving present products or services or developing new ones

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Types of Strategies Diversification Strategies Related Diversification Unrelated Diversification

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Diversification Strategies Related Diversification Adding new but related products or services Unrelated Diversification Adding new, unrelated products or services

Growth Strategies

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Types of Strategies Defensive Strategies Retrenchment Divestiture Liquidation

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Defensive Strategies Retrenchment Regrouping through cost and asset reduction to reverse declining sales and profit Divestiture Selling a division or part of an organization Liquidation Selling all of a company’s assets, in parts, for their tangible worth

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Defensive Strategy Bankruptcy types  Chapter 7 – liquidation  Chapter 9 – municipalities  Chapter 11 – reorganization  Chapter 12 – family farmers  Chapter 13 – small businesses

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Porter’s Five Generic Strategies Type 1 Cost Leadership – Low cost Type 2 Cost Leadership – Best value Type 3 Differentiation Type 4 Focus – Low cost Type 5 Focus – Best value

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch 5 -33

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Type 1 or 2 Cost Leadership Strategy Conditions Vigorous price competition Plentiful supply of identical products Little product differentiation Products used in same ways Low cost to switch Large buyers with power Industry newcomers use low prices to attract buyers

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Type 3 Differentiation Strategy Conditions Many ways to differentiate and buyers perceive the differences as having value Diverse buyer needs and uses Few rival firms following similar differentiation approach Fast paced technological change and evolving product features

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Type 4 or 5 Focus Strategy Conditions Large, profitable, and growing target market niche Industry leaders do not consider the niche crucial to their success Industry leaders consider it costly or difficult to meet the needs of this niche Industry has many niches and segments Few rivals are specializing on this target segment

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Means for Achieving Strategies Cooperation among competitors Joint venture / partnering Merger / acquisition First mover advantages Outsourcing

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch Strategic Management in Nonprofit and Governmental Organizations Educational Institutions Medical Organizations Governmental Agencies and Departments

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall Ch All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America.