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Introduction to Strategic Management
BM499 Strategic Management David J. Bryce September 3, 2002
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Case Analysis Most effective answers are
Data-driven (supported by data analyzed from the case) Theory-driven (supported by a theory that fits the situation and may suggest alternative solutions)
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Strategic Management Issues
What does it mean to have a strategy? What is the “goal” of strategic management? How can you evaluate a “good” or “bad” strategy?
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Mini-Case: Marketing Strategy at Delta
In the mid 1980s Delta’s market researchers found that customers (particularly business customers) were strongly influenced to choose a particular airline by the airline’s frequent flyer program. Consequently, to motivate customers to choose Delta, they teamed up with American Express (an exclusive arrangement) to offer a special program: customers could receive triple miles if they would fly on Delta and purchase the tickets using the American Express card. How would you evaluate Delta’s strategy? (Good or bad?)
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History of Strategic Management
Pre-1850, small, individual companies could do little to effect competition Second Industrial Revolution and mass markets created need for explicit strategizing (post-1850) M-form corporations set competitive standards in their markets (early 1900s) Technological advance created the environment for intense competition (post 1950s)
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History of Strategic Management
Evolution of Strategy in Business Alignment among departments, policies and competitive situation ( s) Identification of ‘distinctive competence’ (1957) Consideration of the firm in its environment—strengths, weaknesses, opportunities, threats (SWOT) (1960s) Discovering quantitative relationships that matter (e.g. performance metrics, experience curve) (1960s-70s)
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History of Strategic Management
Evolution of Strategy in Business Industry structure as driver of profitability and performance (1950s-1970s) Positioning within Industries (1980s) Dissecting the business into ‘value chain’ components to discover or create sources of cost, value, and differentiation (1980s-1990s) Identifying and leveraging the valuable resources of the firm (1980s-1990s) Developing the capacity to continually create and deploy unique capabilities (199s)
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SWOT
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