MNGT 4122 - STRATEGIC MANAGEMENT
TRADITIONAL BUSINESS MODEL
1. Profit Maximization
2. Social Problem Sol ution
Business Strategies
• Integration
• Intensive
• Diversification
• Defensive
LECTURE 1: NATURE OF STRATEGIC MANAGEMENT
Strategic Management
• Plan and planning are equally
important.
• Where there is no visi on, the
peopl e perish.
• Different functiona l area
means differen t activities.
Stages of the Strategic
Management Process
Making solutions via business
• Products/services
• Unemployment
• Tax as social c apital to
use for social benefit.
Art and sci ence of formu lating,
impleme nting, and evaluating
cross-functiona l decisio ns that
enabl e an org anization to achieve
its objectives.
STRATEGY FORMULATION
- Vision an d Mission
- External opportuni ties and
threats
- Internal strengths an d
weakne ss
- Long-term objectives
- Alternative strategi es
- Strategy genera tion and
selection .
Strategic management is an
ongoing process, once the goal is
achieve d, set a higher goal to the
next level.
STRATEGY IMPLEMENTATION
- Annual objectives
- Policie s
- Employee motivation
- Resource allocation
STRATEGY EVALUATION
- Internal Revi ew
- External Revi ew
- Performance
measureme nt
- Corrective actio n
• Strategy Formulation
• Strategy Implementatio n
• Strategy Evaluatio n
