Strategic Management Notes

Topics: Strategic management, SWOT analysis, Mission statement Pages: 11 (1380 words) Published: May 27, 2013
SESSION 1: January 7, 2013
Basic elements in a strategy (resources that will be needed): 1. Time
2. Information (intel)
3. Power (manpower/materials/machines) – logistics
Ex: decentralization

Course objectives:
* Develop a strategic frame of mind
* Develop vision and mission statements and objectives * Formulate strategies
* Identify critical issues
* Manage organizational change and development
* Identify and manage relevant ethical issues
* Analyse an organization’s effectiveness and efficienty identify critical issues

Strama – art and science of formulating, implementing, and evaluating cross-functional decisions to enable an organization to achieve its objectives.

Corporate vision – can focus , direct, motivate, unify, and excite a business into superior performance.

Vision – you should be passionate about it
Vision is achievable regardless of blunders if there is passion.

Mission – reason for being
Raison d’ eter

Importance of vision mission
* Unanimity of purpose
* Provide standard for allocating purposes

* Customers
* Products or services
* Markets
* Technology
* Concern for survival, growth and profitability
* Philosophy – any basic beliefs, values, aspirations, ethical priorities * Self-concept – any competitive advantage
* Concern for public image
* Concern for employees

* Evaluation a vision statement
* Evaluating a mission statement
* Writing a vision and mission

Vision should start with “To be….”

External – environment

SESSION 2: January 14, 2013

Evaluating a Vision Statement
* Does it answer the question: What do we want to become? * What are the significant components of the vision statement? * Do you think it can be worded more effectively? Explain your reasons.

Evaluating a Mission Statement
Using an evaluation matrix, evaluate the mission statement based on the 9 criteria: customers, products or services, markets, technology, concern for survival, growth and profitability, philosophy, self concept, concern for public image, concern for employees

External Assessment
- sometimes called environmental scanning
- focuses on identifying and evaluating trends and events beyond the control of the firm

Key External Forces
* Economic forces
* Availability of credit
* Level of disposable income – people with more buying power * High interest rates – less borrowings
* GDP trend – declining – tiger economy –
* Monetary policy – lowering interest rate or increasing discount window of banks * Tax rates – if you legalize something, price goes down * Consumption patterns
* OPEC policies – high gas prices, all prices increase * Others
* Social, cultural, demographic, and natural environmental forces * Population growth rate – high population, more manpower (for labor export) * Life expectancy -
* Per capita income
* Lifestyles
* Traffic congestion
* Trust in government
* Sex roles – more women are becoming breadwinners
* Air pollution
* Political, governmental and legal forces
* Government regulations/deregulation
* Changes in tax laws
* Environmental protection laws – LLDA requirements
* Level of defense expenditures
* Sino-Filipino relationships
* Size of government budgets
* Terrorist activities
* Natiional or local elections
* Special local, state, and federal laws
* * local agrarian reform – disaster – small hectares of land which is not enough to develop agriculture; should have encouraged corporate farming instead * Technological forces
* Internet or e-commerce
* New softwares/hardwares
* Wireless technology, e.g smartphones
* eBooks
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