Table of Contents 1.0 INTRODUCTION 4 1.1 Company Overview 4 1.2 Current Strategies 5 1.3 The Basis for Strategic Management Process 6 1.4 Stages of Strategic Management Process 7 2.0 EXTERNAL ANALYSIS 8 2.1 PESTEL Analysis 8 2.1.1 Political 8 2.1.2 Economic 8 2.1.3 Social 9 2.1.4 Technological 9 2.1.5 Environmental / Ethical 9 2.1.6 Legal 10 2.2 Porter’s Five Forces 10 3.0 SWOT ANALYSIS 12 3.1 Strength 12 3.2 Weakness 12 3.3 Opportunities 12 3.4 Threats 13 4.0 Strategy Formulation 14 4.1 Difference
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In order to achieve success‚ a majority of companies defines and follows a strategy. In order to do so‚ firms have at their disposal of lot of management tools. In this analysis‚ we will concentrate on one in particular‚ the mission statement. Kotler and Armstrong suggest that “A clear mission statement acts as an ‘invisible hand’ that guides people in the organization” (2010). Each company have to wonder about questions as Who we are?‚ Why we are here? What is our job? The answers to these questions
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Wednesday 3-6pm ------------------------------------------------- Course Code : MKTG 70 Course Title : STRATEGIC MANAGEMENT Course Description : Credit Unit : 3 Credit Hours Lecture : 54 hours Course Objectives : At the end of the semester‚ with 70% proficiency‚ the students are expected to: 1. Easily relate to finance making it more of Management-like approach and not strictly financial accounting in approach; 2. Know the business finance concepts
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Applied Strategic Management A Strategic Analysis of Canon word count : Executive Summary Canon has around 77 years of history and it is full of ups and downs‚ highs and lows‚ for which it is what we would expect in such a high innovative company. Over the years‚ Canon has been introducing various types of products over the years and gradually became the leader in imaging markets. When people think of buying a camera‚ first brand pops out in their head
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Global Issues in Strategic Management Determinants of Org. Performance Global Issues Prof. Dr Majed ElFarra 2009 ١ The key drivers to globalization Drivers: Global market Convergence Similar customer needs‚ Global customers‚ Transferable marketing Trade policies‚ Technical GovernmentStandards‚ host government‚ Global Influence policies Strategies Scale economies‚ Sourcing efficiencies Cost Countries costs‚ Advantages High product development costs Interdependence‚ Competitors
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Resource Weakness Thompson‚ Peteraf‚ Gamble‚ and Strickland (2012) say that a weakness‚ or competitive disadvantage‚ is something that a company lacks or does poorly‚ or a condition that puts it at a competitive disadvantage in the market place. There are three resource weaknesses that can exist. The three weaknesses are inferior or unproven skills‚ expertise‚ or intellectual capital in competitively important areas of business‚ deficiencies in competitively important physical‚ organizational
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needs to expand as soon as possible and it needs to recognize that many things need to be changed in order to improve the work atmosphere and the performance of employees. The recent growth of the company caused a promotion of technical people to management positions with no managerial experience. Actions like that can harm the department’s atmosphere and productivity. The new manager doesn’t know how to treat his team and some managers take advantage of the "power" they received. They might start
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Mid-term Review Questions Chapter 1 1. Define strategic competitiveness‚ strategy‚ competitive advantage‚ above-average returns‚ and the strategic management process. Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy. Strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. Competitive advantage is when a firm implements a strategy that its
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com Preface Strategic management is a stream of decisions and actions with view to develop effective long term and short term planning and policies with technological business forecasting that would help the organization achieve its superior goal. Strategic management includes strategic analysis‚ strategy formulation‚ strategic choice‚ strategy implementation and control strategic decision for an organization to deploy resources into new opportunities. Strategic management is important for Chartered
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Chapter 1 1. Write objectives for each of the following mission statements. (a) We will be a leader in pharmaceutical innovation Atleast 20% of the company’s sales in the next three years will be generated from entirely new products (b) Customer satisfaction is our primary goal Ensure that customer complaints drop by 10% in the coming yeat (c) We promise on-time delivery Ensure that 95% of all deliveries are on time in the coming year (d) Product quality is our first priority
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