Created on: 09/17/2005Updated on: North Western State University Student Coaching Slides

Created on: 09/17/2005Updated on: Stakeholders in NWSU’s Environment v Primary Stakeholders –Groups, organizations, and individuals who are DIRECTLY affected by, or have a DIRECT effect on, NWSU. –Who are the primary stakeholders in this case? v Secondary Stakeholders –Groups, organizations, and individuals who are INDIRECTLY affected by NWSU’s actions. –Who are the secondary stakeholder in this case?

Created on: 09/17/2005Updated on: Changes in NWSU’s Environment v External Changes –What changes in the external environment have had an effect on NWSU? v Internal Changes — What changes in the internal environment have had an effect on NWSU?

Created on: 09/17/2005Updated on: What is Strategy? v Strategy is a pattern of actions designed to achieve a certain goal. v A firm is acting strategically when its actions: –Are purposeful –Move the firm toward long-term goal achievement

Created on: 09/17/2005Updated on: What is Strategic Thinking? v Strategic Thinking - Five Characteristics –Systems Perspective - see the big picture –Sense of Direction or Destiny - view of the future –Openness to new experience –Deal with the gap between current reality and intent for the future –Using facts in creative and critical thinking

Created on: 09/17/2005Updated on: Strategic Thinking & Success v Successful strategic thinking results from: –Choosing goals that are consistent with the environment –Making sure that the competencies (strengths), internal structures and activities of the firm are consistent with selected goals

Created on: 09/17/2005Updated on: Why Fit Goals to the Environment? v Survival of the firm depends on resources v Resources come from stakeholders v Stakeholders place demands on the firm v Competitors vie for the same resources v Failure to meet stakeholder demands endangers the firm’s survival v A good “fit” - chosen goals designed to meet stakeholder demands better than other firms

Created on: 09/17/2005Updated on: Why Fit Goals to Competencies, Structures and Activities? v All firms possess strengths - “core competencies” v Best chance of achieving goals occurs when a firm “plays to its strengths” v Firms also have many internal parts (structures) which undertake activities to achieve goals v A good “fit” ensures that internal parts/activities work together to support the firms strategic goals

Created on: 09/17/2005Updated on: NWSU’s Planning Process v Does the process reflect sound strategy? v Recommendations for improving the process?