Strategic Inputs Chapter 2 External Environment Strategic Intent

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Strategic Inputs Chapter 2 External Environment Strategic Intent Strategic Mission Chapter 3 Internal Environment

Strategic Inputs Chapter 2 External Environment Strategic Intent Strategic Mission Chapter 3 Internal Environment Strategy Implementation Chapter 4 Business-Level Strategy Chapter 5 Competitive Dynamics Chapter 6 Corporate-Level Strategy Chapter 10 Corporate Governance Chapter 11 Structure & Control Chapter 7 Acquisitions & Restructuring Chapter 8 International Strategy Chapter 9 Cooperative Strategies Chapter 12 Strategic Leadership Chapter 13 Outcomes Strategic Actions Strategy Formulation The Strategic Management Process Feedback Strategic Competitiveness Above Average Returns Entrepreneurship & Innovation

Chapter One: Key Themes Challenge of Strategic Management Changing Competitive Landscape Two Models of

Chapter One: Key Themes Challenge of Strategic Management Changing Competitive Landscape Two Models of Superior Profitability Industrial Organization Model Resource-Based Model Key Stakeholder Groups

Challenge of Strategic Management Only 2 of the top 25 U. S. corporations in

Challenge of Strategic Management Only 2 of the top 25 U. S. corporations in 1900 are still competitive today! In a recent year, almost 150, 000 U. S. businesses failed or filed for bankruptcy Competitive success is transient. . . unless care is taken to preserve competitive position

New Competitive Landscape Fundamental nature of competition is changing Rapid technological changes Rapid technology

New Competitive Landscape Fundamental nature of competition is changing Rapid technological changes Rapid technology diffusions Dramatic changes in information and communication technologies Increasing importance of knowledge The pace of change is relentless. . and increasing Traditional industry boundaries are blurring. . . such as Computers Telecommunications

New Competitive Landscape The global economy is changing People, goods, services and ideas move

New Competitive Landscape The global economy is changing People, goods, services and ideas move freely across geographic boundaries New opportunities emerge in multiple global markets Markets and industries become more internationalized Traditional sources of competitive advantage no longer guarantee success New keys to success include: Flexibility Innovation Speed Integration

Alternative Model of Superior Returns 1 Industrial Organization Model 2 Resource-Based Model

Alternative Model of Superior Returns 1 Industrial Organization Model 2 Resource-Based Model

I/O Model of Superior Returns The Industrial Organization Model suggests that above-average returns for

I/O Model of Superior Returns The Industrial Organization Model suggests that above-average returns for any firm are largely determined by characteristics outside the firm. The I/O model largely focuses on industry structure or attractiveness of the external environment rather than internal characteristics of the firm.

Resource-Based Model of Superior Returns The Resource-Based Model suggests that above-average returns for any

Resource-Based Model of Superior Returns The Resource-Based Model suggests that above-average returns for any firm are largely determined by characteristics inside the firm. The Resource-Based view focuses on developing or obtaining valuable resources and capabilities which are difficult or impossible for rivals to imitate.

Strategic Intent Winning competitive battles through deciding how to leverage internal resources, capabilities, and

Strategic Intent Winning competitive battles through deciding how to leverage internal resources, capabilities, and core competencies. Strategic Mission An application of strategic intent in terms of products to be offered and markets to be served.

Stakeholders Groups who are affected by a firm’s performance and who have claims on

Stakeholders Groups who are affected by a firm’s performance and who have claims on its performance The firm must maintain performance at an adequate level in order to maintain the participation of key stakeholders Firm Product Market Primary Customers Suppliers Capital Market Stock market/Investors Debt suppliers/Banks Organizational Employees Managers Non-Managers

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