BUS 189: Strategic Management Strategic Leadership Strategic Management Process ▪ Method put in place by strategic leaders to formulate and implement a strategy, which can lay the foundation for a sustainable competitive advantage. Key Questions to Start the Strategic Management Process ▪ Vision: What do we want to ultimately accomplish? ▪ Mission: How do we accomplish our goals? ▪ Values: What commitments do we make to act ethically and legally while pursuing our vision and mission? ▪ Vision: One day, all children in this nation will have the opportunity to attain an excellent education ▪ Mission: Eliminate educational inequality by enlisting our nation’s most promising future leaders in the effort ▪ Values: ▪ ▪ ▪ ▪ ▪ Relentless Pursuit of Results; Sense of Possibility; Disciplined Thought; Respect and Humility; Integrity Vision Statements ▪ To be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online. ▪ To provide personal mobility for people around the world ▪ To make it easy to do business anywhere. ▪ To turn imaginative ideas into leading products and services that help solve some of the world’s toughest problems. ▪ Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.” ▪ To organize the world’s information and make it universally accessible and useful. ▪ To be the best service organization in the world. ▪ To enable people and businesses throughout the world to realize their full potential. ▪ To bring inspiration and innovation to every athlete in the world. ▪ To give ordinary folk the chance to buy the same thing as rich people. Customer vs Product-oriented Vision Statement ▪ Customer-oriented: Defines a business in terms of providing solutions to customer needs. ▪ Product-oriented: Defines a business in terms of a good or service provided. Strategic Leadership ▪ The executives’ successful use of power and influence to direct the activities of others when pursuing an organization’s goals. The Level-5 Pyramid How Strategy is Made ▪ Top-down strategic planning ▪ Scenario planning The final strategy often is not the beginning strategy Case Studies: What are they? ▪ A description of a business situation that presents an dilemma to solved by the case protagonist Case studies: Why use them? ▪ Simulate managerial decision making using strategic management dilemmas that actual organizations face ▪ Illustrate the theories and concepts of the textbook ▪ Practice decision making and develop critical thinking skills ▪ Develop skills to make persuasive arguments and to defend them Suggestions for analyzing a case ▪ Read the case at least twice ▪ Make a list of critical issues (macro, industry & firm) & related recommendations ▪ Use the concepts and analytical tools you have learned ▪ Crunch numbers (financial and others) to discover any story ▪ Develop charts, tables, and graphs ▪ Be constructively critical ▪ Identify several alternative strategies ▪ Detail your proposed solution and justification ▪ Be thorough Elements of a case study analysis ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ History/Timeline Identify internal strengths and weaknesses Identify external opportunities and threats Evaluate the company’s position in terms of strengths, weaknesses, opportunities, and threats (SWOT analysis) Identify and evaluate the firm’s corporate-level strategy Identify and evaluate the firm’s business-level strategy or strategies Analyze structure and control systems Make recommendations Logical fallacies to avoid Referring to irrelevant characteristics/issues False or dubious assumptions Generalization Causality vs. association vs. coincidence False analogies Either/or proposals Arguments to avoid ▪ Attributing consistent success to leadership without detailing actions taken that demonstrated leadership ▪ Attributing success to a resource or capability common to competitors ▪ Hire a new CEO who can solve the problem ▪ Hire a management consultant to analyze the problem ▪ Conduct market research ▪ Delegate more authority to lower management ▪ Liquidate the problem division ▪ Fire everyone
Purchase answer to see full attachment