工商管理专业MBALectu.ppt

该【工商管理专业MBALectu 】是由【sanyuedoc】上传分享，文档一共【32】页，该文档可以免费在线阅读，需要了解更多关于【工商管理专业MBALectu 】的内容，可以使用淘豆网的站内搜索功能，选择自己适合的文档，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此文档到您的设备，方便您编辑和打印。Revision Diagrams
Dr Ita O’Donovan
Strategic Management
Thinking and Knowing
Thinking is a key component of cognition.
When we think, we perceive, classify, manipulate and combine information
At the end of the process, we know something we did not know before ( it is possible this new knowledge is incorrect
Need to remember we think not by language alone, we think in shapes, images
1
2
3
4
Deductive Reasoning consists of inferring specific instances from general principles or rules
.
Kiran is taller than Suniel
Sophia is shorter than Suniel
Therefore Kiran is taller than Sophia
Inductive reasoning is the opposite of deductive reasoning. It consists of inferring general principles or rules from specific facts.
Inductive reasoning requires us to test facts or hypotheses
Remember the card example asking which ones to turn up to be sure the statement was true.
Other things to watch out for when thinking
Failure to utilise a comparison group
Control group for comparison
Confirmation Bias: we tend to seek evidence that confirms our hypothesis.
Remember if there is an exception the rule is wrong.
Always look for evidence
Ways of thinking
COMPETING FOR PREPARING FOR
THE PRESENT THE FUTURE

Check exercises on Companies Mission Statements see pyramid diagram in these notes.
STATIC
Where are we competing?
Product market scope
Geographical scope
Vertical scope
How are we competing?
What is the basis of our competitive advantage
DYNAMIC
What do we want to become?
Vision statement
What do we want to achieve?
Mission Statement
Performance Goals
How will we get there?
Guidelines for development
Priorities for capital expenditure,
R& D
Growth modes: organic growth, Mergers, Acquisitions,
Alliances
Describing a firm strategy: competing in the present, preparing for the future
The design school is based on the idea of rational planning, based on strategic analysis of the internal and external environment. The idea is that managers engage in deliberate, rational analysis. The design school does allow for the idea of creativity. This is in terms of the original conception of the idea/ concept/ strategy, and how it alters overtime as the realities of the internal and external environment are considered by the strategists. A good way to think of this is if you were designing and building a house. Concept alters as the concept and ideas become realities. Tools you use are SWOT analysis see slides Lecture 2 , and next 2 slides
Key points Design school
Consistency: the strategy must not present mutually inconsistent goals and policies
Consonance: the strategy must represent an adaptive response to the external environment and to the critical changes occurring within it.
Advantage: the strategy must provide for the creation/maintenance of competitive advantage in the selected area of activity
Feasibility: The strategy must neither overtax available resources nor create unsolvable sub problems
5
Planning & Design School, Creativity and Emergence
6
Marketing: product quality & differentiation, market share & research, pricing policies, distribution channels, promotional programmes, customer services, advertising
Research and Development: R &D capabilities in product and process
Management Information System: speed, responsiveness, quality, expandability, user-orientated system
Management Team: skills, value congruence, team spirit, experience, coordination
Operations: control of raw materials & quality & inventory, production cost structure & capacity, energy efficient, facilities and equipment
Finance: financial & operating leverage, balance sheet ratios, stockholder relations,tax situation
Human Resources: Employee capabilities, morale , development and turnover, personnel systems.
6
Strengths and Weaknesses Checklist
Societal Changes : Customer perspectives change, product demand or design
Governmental Changes: new legislation
Economic Changes: interest rates; exchange rates, real personal income changes
Competitive Changes: adoption new technologies; new competitors, price changes, new products
Supplier Changes: change in input costs; supply change, changes in number of suppliers
Market Changes: new use of products, new markets; product obsolesence
7
Environmental Checklist
Here the emphasis is on the leader and on mental states such as: judgement, intuition, wisdom, experience, insight.
Vision and perspective are key ideas here ( remember the working definition of creativity by Sternberg and Lubart (1991) SLIDE 12
Vision serves as both an inspiration and a sense of what needs to be done a guiding idea.
Entrepreneurial concept comes for economics in particular Joseph Schumpeter (1950) Schumpeter was concerned with how organisations keep surviving in changing situations.
He was concerned with how the leader created ideas, new ways of doing things: within this he introduced the notion of creative destruction
Schumpeter was aware that economists like to deal with such things as money, machinery, land. He was concerned with things that are less tangible.
Schumpeter held the view:
That entrepreneurs have not accumulated any kind of goods, nor created original means of production but have employed existing means of production differently, more appropriately, more advantageously. They have carried out new combinations.... And their profit, the surplus to which no liability corresponds, is an entrepreneurial profit.
The key thing here is doing things in new ways and the capitalist bore the risk.
Importantly Schumpeter thought that once the founder /leader ceased to innovate he/she was no longer an entrepreneur.
Richard Branson is someone who fits the idea of an Entrepreneur.
Entrepreneurs Emergent
Strategy exists in the mind of the leader as perspective, this is a long term direction, a vision of the organisation’s future.
The process of strategy formation is semiconscious at best, rooted in leader’s experience and intuition, the strategy may be conceived or adopted from others, but the Leader will internalise it in his or her own behaviour.
The Leader promotes the vision single-mindedly, maintained close personal control of implementation
The strategic vision is thus malleable, the strategy can be deliberate and emergent, deliberate in vision and emergent is how it unfolds.
The organisation is equally malleable, responsive to the leader’s directives, many of the procedures and power relationships are suspended to allow leader to manoeuvre
Entrepreneurial strategy tends to form of a niche, one or more positions in market protected form the forces of outright competition
Richard Branson CEO Virgin Corporation classic Entrepreneur
Key points of Entrepreneurships
Strategy formulation is primarily concerned with the how question, with process:
How are strategies formed, implemented and changed?
We have discussed several ways of thinking about strategies a broad perspective would suggest the process is seen variously:
Rational, Intentional, Goal- directed , as well as Intuitive.
What is clear is that their in not one unifying theory of how it is. Not necessarily a problem
FOUR PHASES OF FORMULATION
Identification, Mission Setting, Agenda Setting
Diagnosis: External Assessment Internal Assessment
Conception: Option Generation, Option selection
Realisation : Action taking, Performance control ( SEE PYRAMID DIAGRAM)
Strategy Formation Key Points