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7/30/2019 Business Strategy- Part 1 and 2
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BUSINESS STRATEGY
Lecturer: PHD. PHM QUC KHNH
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Business today:
Dynamic
Turbulence Uncertainty
Complexity
Yesterday
Inside strate develo ment
Today
Consideration of environment in
Structured market
Calculating area
strategy development.
Reactors in market.
Stable forecasts uture not oresee.
Trends are surprising.
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Developing the ability toplan and implement
strategyfor general business organisations.
Strate Stratera eg c
formulationra eg c
planning
evaluationandselection
implementation
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Strategic formulation:
considered in strategy development.
MissionandVision
ObjectivesExternal
environmentInternal
AssessmentStrategicositionin
ana ys s
What is ourbusiness?
Where arewe going?
Possibleinfluences; Resources;
Standing
analysis:S&W; P&T;
want to
become?
mission beachieved?
futurecompetition.
Competence
improve toget the
objectives?
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Strategic formulation:
What is our business?
What do we want to become?
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Business goals and objectivesBusiness goals and objectives
Primaryandsecondaryobjectives
Financialobjectives
Multiplesobjectives
Technologicalobjectives
Product
marketobjectives
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ett ng o ect ves processett ng o ect ves process
at owewanttoarc vegree eo ec ves
Howimportantarethey?Prioritisetheob ectives
Whathastobedonetoarchivetheobjective?Definetheact.andtask
Howwillwebeabletotellthatthetaskshavebeen
completed
to
a
satisfactory
standards?
Agreestandardsof
performance
Whoshouldperformtherequiredtasks?Allocateroles
Atwhatstageswillwebeabletoidentify thatthings
arebeing
done
to
standard
and
to
plan?
etan t meta e
performancecriteria
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ett ng o ect vesett ng o ect ves
Specific
MeasuTimeta
SMART
Agree
c
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StakeholdersStakeholders
Communities
groupsNGOs
Strategic
partners
Press/med
ProvidersResource
owners
Donor
Managers
Regulators
Localauthorities
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Political
EconomiLegal
PES TheenvironmentisaTEL
Socio
Environ
mental
uncertainty!!!
culturalecological
ogical
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Potent ial ent ry of new
competitors
Rivalry amongcom et in f irms
Bargaining pow er Bargaining pow er
Potent ial developmentof subst it ut e product s
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Assets
Products,brands,
Financialresources
Position/Resource
Operatings stems
Operatingresults
Organisatio
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Human Resource Management
Firm Infrastructure
Activities Technological Development
stics
gistics
Sales
ou
ndLogi
erations
tboundLo
rketingan
vi
ce
Inb
Op
Ou
Ma
Se
Primary Activities
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Mutualadjustment
Standardizationbyskills
andknowledge
Directsupervision
an ar zaonof
outputs
Standardizationofworkprocesses
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Operating core: The basic work ofpro uc ng e organ za on s
products and services gets done.
Strategic apex: The home of top
Middle line: Managers who stand ina direct line relationship between thestrate ic a ex and the o eratincore.
Techostructure: The staff analysts
who design the systems by whichwork processes and outputs arestandardized in the organization.
Support staff: The specialists whoprov e suppor o e organ za on
outside of its operating workflow.
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STRATEGY
SKI LLS STRUCTURE
VALUES/
SUPERORDI NATEGOALS
SYSTEMS
STYLE
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tep Prepare current product-market pro ile.
Step 2en y sources o compe ve
advantage and disadvantage inthe main product-market segments.
Step 3Describe all the organizationalcapabilities and competencies.
Ste 4
Sort the core capabilities and
competencies according tos ra eg c mpor ance.
Identify and agree onStep 5 the key capabilities
and competencies.
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CorporateAppraisal
GapAnalysis
MonitoringCompetitors
ValueChaininCompetitiveStrategy
ScenarioPlanning
Direction
of
growth
Methodofgrowth
Benchmarking
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Strengths S Weaknesses W
List Strengths List Weaknesses
Opportunities O SOStrategies WOStrategies
List Opportunities
advantage of
opportunities
weaknesses by taking
advantage of
Threats T STStrategies WTStrategies
List Threats Use strengths toavoid threats Minimize weaknessesand avoid threats
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Targetfor
achievementover F0Forecastp ann ngper o
Forecastcanneverbe
completelyaccurate!!!
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CostCost
LeadershipLeadership DifferentiationDifferentiation FocusFocusProductProductDifferentiationDifferentiation
LowLow
(principally(principally
HighHigh
(principally by(principally by
Low to highLow to high
(price or(price or
by price)by price) uniqueness)uniqueness) uniqueness)uniqueness)
SegmentationSegmentation (mass market)(mass market) (many market(many market
segments)segments)
(one or a few(one or a few
segments)segments)
DistinctiveDistinctiveCom etencCom etenc
ManufacturingManufacturing
and materialsand materials
Research andResearch and
develo ment salesdevelo ment sales
Any kind ofAny kind of
distinctivedistinctive
managementmanagement and marketingand marketing competencycompetency
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INCREASING RISKExistin
I
PENETRATION
PRODUCTDEVELOPMENT
C
REAS
Sell more in existingMarkets
Sell new products inexisting markets
INGR
IS
MARKETS MARKET
EXTENSION
DIVERSIFICATIONK
Achieve higher
sales/market shareSell new products in new
markets
New of existing products
in new markets
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Key
performancemeasures
Setobjectivesandareas
Selectdepartment/
branch/organisation
Monitor
improvement
Benchmarking
Measureownandothers
performanceImprove
Compare
performance
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Key
performancemeasures
Setobjectivesandareas
Selectdepartment/
branch/organisation
Monitor
improvement
Benchmarking
Measureownandothers
performanceImprove
Compare
performance
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Apply the process of strategic plannin .
Planningframework
ApproachesStrategicthinkin
Prepareastrate ic lan
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Planning is the process of deciding:
What should be done.
How should be done.
.
Who should do it.
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2.Plan
Strategies
1.Set
Objectives
3.DecideTactics
Reviewprogress
Implementstrategies
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Levelsofstrategy PlanningandDecisions
Corporate strategy Missionand visionStrategicdecisions
Business strategies Particularareasofcorporate
Functional/ operational Differentdepartments(Marketing,
s ra eg es ,
,
, ,
.
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Emergent and deliberate strategies .
PlansDeliberate
strategies
Unrealised
strategies
strategies
Patternsof
behaviour
Emergent
strategies
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Crafting emergent strategies.
Emergent strategies may: Be inappropriatefor long-term direction.
Create implications for resources use, different part of the.
Devotemore resources. Strate ist must be able to reco nise atternsand to
manage the processby which emergent strategies
are created.
Manage Detect Knowthe ManageReconcilingchangeandcontinuity
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Creating sustainable strategic position
Operational
effectiveness onunique Trade offs
combiningStrategyis
aboutchoices