Mgt Notes
Exam I Outline
1. Chapter 1: Strategic Management: Creating Competitive Advantages
a. Views of Leadership
i. Romantic View
1. Leader is the key force in an organizations success ii. External Control Perspective
1. Focus is on external factors that may affect an organizations success
b. What is “Strategic Management”?
i. Definition: Consists of the analyses, decisions and actions an organization undertakes in order to create and sustain competitive advantages ii. Key attributes:
1. Directs the organization toward overall goals and objectives
2. Includes multiple stakeholders in decision making
3. Needs to incorporate short and long term perspectives
4. Recognizes trade-offs between efficiency and effectiveness
c. The Strategic Management Process
i. Strategic Analysis
1. Introduction and Analyzing Goals and Objectives
2. Analyzing the External Environment
3. Analyzing the Internal Environment
4. Assessing Intellectual Capital ii. Strategic Formulation
1. Formulating Business-Level Strategies
2. Formulating Corporate-Level Strategies
3. Formulating International Strategies
4. Entrepreneurial Strategy and Competitive Dynamics iii. Strategic Implementation
1. Strategic Control and Corporate Governance
2. Creating Effective Organizational Designs
3. Strategic Leadership Excellence, Ethics and Change
4. Fostering Corporate Entrepreneurship
d. Corporate Governance and Stakeholder Management
i. Corporate Governance
1. The relationship among various participants in determining the direction and performance of corporations ii. Primary Players
1. Shareholders
2. Management (CEO)
3. Board of Directors iii. Board of Directors
1. Elected representatives of the owners
2. Ensure interests and motives of management are aligned with those of the owners
3. Engaged
4. Shareholder activism
5. Manager pay and incentives iv. Stakeholder Management Views
1. Zero Sum View
a. Stakeholders compete for
1. Chapter 1: Strategic Management: Creating Competitive Advantages
a. Views of Leadership
i. Romantic View
1. Leader is the key force in an organizations success ii. External Control Perspective
1. Focus is on external factors that may affect an organizations success
b. What is “Strategic Management”?
i. Definition: Consists of the analyses, decisions and actions an organization undertakes in order to create and sustain competitive advantages ii. Key attributes:
1. Directs the organization toward overall goals and objectives
2. Includes multiple stakeholders in decision making
3. Needs to incorporate short and long term perspectives
4. Recognizes trade-offs between efficiency and effectiveness
c. The Strategic Management Process
i. Strategic Analysis
1. Introduction and Analyzing Goals and Objectives
2. Analyzing the External Environment
3. Analyzing the Internal Environment
4. Assessing Intellectual Capital ii. Strategic Formulation
1. Formulating Business-Level Strategies
2. Formulating Corporate-Level Strategies
3. Formulating International Strategies
4. Entrepreneurial Strategy and Competitive Dynamics iii. Strategic Implementation
1. Strategic Control and Corporate Governance
2. Creating Effective Organizational Designs
3. Strategic Leadership Excellence, Ethics and Change
4. Fostering Corporate Entrepreneurship
d. Corporate Governance and Stakeholder Management
i. Corporate Governance
1. The relationship among various participants in determining the direction and performance of corporations ii. Primary Players
1. Shareholders
2. Management (CEO)
3. Board of Directors iii. Board of Directors
1. Elected representatives of the owners
2. Ensure interests and motives of management are aligned with those of the owners
3. Engaged
4. Shareholder activism
5. Manager pay and incentives iv. Stakeholder Management Views
1. Zero Sum View
a. Stakeholders compete for