CHAPTER 8 Strategy Formulation Functional Strategy Strategic Choice
- Slides: 18
CHAPTER 8 Strategy Formulation: Functional Strategy & Strategic Choice STRATEGIC MANAGEMENT & BUSINESS POLICY 11 TH EDITION THOMAS L. WHEELEN J. DAVID HUNGER 1
Functional Strategy The approach a functional area takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity 2
Functional Strategy Marketing Strategy – –Pricing –Selling –Distribution 3
Functional Strategy Marketing Strategy – –Product development • Line extension 4
Functional Strategy Marketing Strategy – –Advertising and promotion • Push strategy • Pull strategy 5
Functional Strategy Marketing Strategy – –Pricing • Skim pricing • Penetration pricing • Dynamic pricing 6
Functional Strategy Financial Strategy – –Leveraged buyout –Reversed stock split –Tracking stock 7
Functional Strategy R&D Strategy – –Technological leader –Technological follower –Open innovation 8
Functional Strategy Operations Strategy – –Job shop –Connected line batch flow –Flexible manufacturing systems –Dedicated transfer lines –Mass production –Continuous improvement system –Modular manufacturing 9
Functional Strategy Purchasing Strategy – –Multiple sourcing –Sole sourcing –Just-in-time (JIT) –Parallel sourcing 10
Functional Strategy Logistics Strategy – –Centralization –Outsourcing –Internet 11
Functional Strategy HRM Strategy – – 360 degree appraisal 12
Proposed Outsourcing Matrix 13
Functional Strategy Strategies to Avoid – – Follow the leader –Hit another home run –Arms race –Do everything –Losing hand 14
Constructing Corporate Scenarios 15
Functional Strategy Subjective Factors Affecting Decisions -–Management’s attitude toward risk –Pressures from stakeholders –Pressures from corporate culture –Needs and desires of key managers 16
Stakeholder Priority Matrix 17
Strategic Choice Avoiding the Consensus Trap -–Devil’s Advocate –Dialectical Inquiry 18
- Functional strategy in strategic management
- Factors affecting strategic choice
- Formulation of functional strategy
- What is functional strategy in strategic management
- Analysing the 6 strategic options megxit
- Why problem formulation follow goal formulation
- Strategy formulation and implementation
- Parenting strategy in strategic management
- Functional level strategy in strategic management
- Good choice or bad choice
- Chapter 6 strategy analysis and choice
- Strategic analysis and choice
- Chapter 6 strategy analysis and choice
- Chapter 6 strategy analysis and choice
- Strategy formulation analytical framework
- Strategy analysis and choice
- Role of hrm in strategy formulation
- Types of strategy formulation
- Strategy formulation process