Principles of Management POLC Model

Principles of
Management

Mason Carpenter, Talya Bauer, and Berrin Erdogan

Chapter 5

Strategizing
 See how strategy fits in the P-O-L-C framework
 Better understand where strategy comes from
 Understand the concept of strategic focus
 Conduct internal analysis to develop strategy  Conduct external analysis to develop strategy  Formulating organizational and personal strategy with the strategy diamond

© 2010 Jupiterimages Corporation

Understand How Strategy Fits in the
P-O-L-C Framework

Where Strategy Fits in “Planning”
The strategy is how the firm aims to realize its mission and vision

Mission
&
Vision

Strategy

Goals & Objectives

Goals and objectives are the indicators of how well the strategy is succeeding

Strategic Management Process
The process by which a firm manages the formulation and implementation of its strategy
The coordinated means by which an organization achieves its goals and objectives Strategizing in P-O-L-C
Planning

Organizing

Leading

Controlling

1. Vision & Mission

1. Organization Design

1. Leadership

1. Systems/Processes

2. Strategizing

2. Culture

2. Decision Making

2. Strategic Human
Resources

3. Goals & Objectives

3. Social Networks

3. Communications
4. Groups/Teams
5. Motivation

Strategy
Formulation

Strategy Implementation

Strategizing

Corporate & Business Strategy
Corporate
Strategy

Business
Strategy

What business or business should we be in?
How does being in one business help us compete in our other businesses?

How should we compete?

Diversification

Synergy

Corporate
Strategy

SWOT Analysis
An _______ of the company 's _______ workings and an examination of external __________ and
__________
(1) what can we do? (2) what do we want to do? (3) what might we do? (4) what do others expect us to do?

SWOT Analysis
Strengths

Threats

SWOT