An overview of strategic management

Pendleton Act, or Civil Service Act Provided a merit system to end favoritism Required promotions by merit competition, but no centralized appraisal system was established First Law on Appraisal An appropriations act directed the U. Civil Service Commission now the U. Office of Personnel Management to establish a uniform efficiency rating system for all agencies.

An overview of strategic management

Creating a Vision and Mission statements. The starting point of the process is initial assessment of the firm. Business' vision answers the question: What does an organization want to become?

Vision is the ultimate goal for the firm and the direction for its employees. Thorough mission statement acts as guidance for managers in making appropriate Rothaermel, p.

Internal environment analysis, External environment analysis and Competitor analysis Tools used: During an external environment analysis managers look into the key external forces: Micro environment affects the company in its industry.

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Competition is another uncontrollable external force that influences the company. A good example of this was when Apple released its IPod and shook the mp3 players industry, including its leading performer Sony. Firms assess their competitors using competitors profile matrix and benchmarking to evaluate their strengths, weaknesses and level of performance.

An overview of strategic management

An organization holds both tangible resources: Successful situation analysis is followed by creation of long-term objectives. They act as directions for specific strategy selection.

In an organization, strategies are chosen at 3 different levels: This type of strategy is used when strategic business units SBUdivisions or small and medium enterprises select strategies for only one product that is sold in only one market.

The example of business level strategy is well illustrated by Royal Enfield firms. They sell their Bullet motorcycle one product in United Kingdom and India different markets but focus on different market segments and sell at very different prices different strategies.

At this level, executives at top parent companies choose which products to sell, which market to enter and whether to acquire a competitor or merge with it.

They select between integration, intensive, diversification and defensive strategies.

Basic Overview of Various Strategic Planning Models

The main questions to answer: Which new markets to develop and how to enter them? How far to diversify? Thompson and Martin, p. Policies, Motivation, Resistance management, Leadership, Stakeholder Impact Analysis, Changing organizational structure, Performance management Even the best strategic plans must be implemented and only well executed strategies create competitive advantage for a company.

At this stage managerial skills are more important than using analysis. Communication in strategy implementation is essential as new strategies must get support all over organization for effective implementation.

It consists of the following 6 steps: Setting annual objectives; Revising policies to meet the objectives; Allocating resources to strategically important areas; Changing organizational structure to meet new strategy; Managing resistance to change; Introducing new reward system for performance results if needed.

These smaller objectives are specifically designed to achieve financial, marketing, operations, human resources and other functional goals. To meet these goals managers revise existing policies and introduce new ones which act as the directions for successful objectives implementation.

The other very important part of strategy implementation is changing an organizational chart. For example, a product diversification strategy may require new SBU to be incorporated into the existing organizational chart.Overview.

Strategic marketing focuses on how to develop competitive advantage through the drivers of shareholder value. Delivering value to your business requires insight into your changing marketplace and decisions regarding how to match your organisation’s distinctive capabilities with value opportunities.

Overview of strategic management: The NetMBA site (see assignments) presents the strategic planning process schematically as follows: Mission -- Objectives -- Situation -- Analysis -- Strategy Formulation -- Implementation.

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Can this process explain the path by which an organization identifies and expresses its mission? Discuss the drawbacks of . STRATEGIC MANAGEMENT – OVERVIEW AND PROCESS Dr. M. Thenmozhi Professor Department of Management Studies Indian Institute of Technology Madras Chennai Human Capital Management Overview The Office of Personnel Management (OPM) Human Capital Framework (HCF) provides comprehensive guidance on strategic human capital management in the Federal Government.

an overview of strategic management 1. 15 august [email protected] 1strategic managementunit coverage1. business/service strategy andsustainable competitive advantage2. strategic business unit (sbu)3. strategic management: development,characteristics, trends, and needs4.

An overview of strategic management

components and process of strategicmanagement 2. The 17th ed. David Strategic Management textbook is being widely used globally, for 15 key reasons: 1) the text features a practical, skills-oriented approach 2) a popular integrative model unites all chapters 3) the author website (urbanagricultureinitiative.com) provides updates, videos, and more 4) the excel student template (at the author website) helps students do case analysis 5) the.

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