Strategic Management Defined Strategic Management Purpose of Strategic

Strategic Management – Defined

Strategic Management

Purpose of Strategic Management

Strategic Management Strategy Formulation Vision & Mission External Opportunities & Threats Internal Strengths & Weaknesses Long-Term Objectives Alternative Strategies Strategy Selection

Strategy Formulation Issues in Strategy Formulation

Strategy Implementation The Action Stage of Strategic Management

Strategy Implementation

Strategy Evaluation

Strategy Evaluation Final Stage of Strategic Management

Integrating Intuition & Analysis

Integrating Intuition & Analysis

Integrating Intuition & Analysis Intuition & Judgment

Integrating Intuition & Analysis Analytical Thinking Intuitive Thinking

Integrating Intuition & Analysis

9 Key Terms: Strategic Management is Gaining and Maintaining Competitive Advantage

Achieving Sustained Competitive Advantage

Key Terms

Opportunities and Threats (External)

Oportunities and Threats (External) Cont’d…

Key Terms

Key Terms Opportunities & Threats

Strengths and Weaknesses (Internal)

Assessing the Internal Environment Internal Factors

Long Term Objectives

Long Term Objectives (Cont’d)

Strategies

Key Terms

Example Strategies in Action in 2009

Strategic Management Model

Benefits of Strategic Management

Benefits of Strategic Management Financial Benefits

Benefits of Strategic Management Nonfinancial Benefits

Benefits of Strategic Management Greenly

Benefits of Strategic Management Greenley (Cont’d)

Why Some Firms Do No Strategic Planning

Why Some Firms Do No Strategic Planning (Cont’d)

Pitfalls in Strategic Planning

Pitfalls in Strategic Planning Some pitfalls to watch out for and avoid in strategic planning (Cont’d)

Pitfalls in Strategic Planning Some pitfalls to watch out for and avoid in strategic planning (Cont’d)

Guidelines for Effective Strategic Management