1. McGraw-Hill/Irwin Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved.1 Strategic Management Creating Competitive Advantages

2. 1-2 Chapter 1 Objectives The definition of strategic management and its four key attributes The strategic management process and its three interrelated and principle activities The virtual role of corporate governance and stakeholder management and how “symbiosis” can be achieved among an organization’s stakeholders

3. 1-3 Chapter 1 Objectives The key environmental forces that are creating more unpredictable change and requiring greater empowerment throughout the organization How an awareness of a hierarchy of strategic goals can help an organization achieve coherence in its strategic direction

4. 1-4 What is Strategic Management ? Defining strategic management Four key attributes of strategic management

5. 1-5 The Strategic Management Process Strategy analysis Analyzing organizational goals and objectives Analyzing the external environment Assessing the internal environment Assessing a firm’s intellectual assets

6. 1-6 The Strategic Management Process Strategy formulation Formulating business-level strategies Formulating corporate-level strategies Formulating international-level strategies Formulating digital business strategies

7. 1-7 The Strategic Management Process Strategy implementation Strategic control and corporate governance Creating effective organization designs Creating a learning organization and an ethical organization Fostering corporate entrepreneurship Creating new ventures

8. 1-8 The Role of Corporate Governance and Stakeholder Management Zero sum of symbiosis? Two alternative perspectives of stakeholder management Social responsibility: moving beyond the immediate stakeholders

9. 1-9 The Strategic Management Perspective: An Imperative throughout the Organization Some key driving forces Intellectual capital Globalization Technology Enhancing employee involvement in the strategic management process

10. 1-10 Ensuring Coherence in Strategic Direction Organization vision The walk doesn’t match the talk Irrelevance Not the holy grail An ideal future irreconciled with the present

11. 1-11 Ensuring Coherence in Strategic Direction Mission statements Strategic objectives

12. 1-12 The Strategic Management Perspective: An Imperative throughout the Organization Some key driving forces Globalization Technology Enhancing employee involvement in the strategic management process