Strategic Management Notes

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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

Components: * 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

Activities: * 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

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