THE NATURE OF STRATEGY A strcteay seeks answers to: 8 ls of fmaliting nglneting WHERE ARE WE NOW? ee a ether rece? el watny won Ian cnr ee ne te ‘Seaman What te tems dtc compete or major or sve pS a stages Bey my Corin festa (rete includes developing an organisation's 1; identifying opportunities and threats, its ; establishing its long term objectives, and generating alternative strategies and choosing the ones to pursue. ‘what is examples fen and sion tates “rerscoaMaZON hc toprovideaccessto the worlds fnormatien none cick requires ofr to estabsh device ur ison eto motivate employees ond oocote resources 7 cumatene 5 thot formulated strotegies con be executed very efor the face viso an mission many poole, involves the implemented strategies, results with results and teking corrective actions to ensure that performance conforms to plansTHE NATURE OF STRATEGY A strcteay seeks answers to: 8 ls of fmaliting nglneting WHERE ARE WE NOW? ee a ether rece? el watny won Ian cnr ee ne te ‘Seaman What te tems dtc compete or major or sve pS a stages Bey my Corin festa (rete includes developing an organisation's 1; identifying opportunities and threats, its ; establishing its long term objectives, and generating alternative strategies and choosing the ones to pursue. ‘what is examples fen and sion tates “rerscoaMaZON hc toprovideaccessto the worlds fnormatien none cick requires ofr to estabsh device ur ison eto motivate employees ond oocote resources 7 cumatene 5 thot formulated strotegies con be executed very efor the face viso an mission many poole, involves the implemented strategies, results with results and teking corrective actions to ensure that performance conforms to plansTHE NATURE OF STRATEGY A strategic $ A strategic plan results from \ : tough managerial choices among pianisa numerous good alternatives, and company’s 7-7 it signals commitment to specific 7 ALAS markets. policies. procedures.A strategic $ A strategic plan results from 7 tough managerial choices among plan Isa numerous good alternatives, and company’s it signals commitment to specific BS WD markets, policies, procedures, game plan. and operations. stages — —=———LUITINULIy S 7 4m ine, ia pay \ s markets, policies, procedures, game plan. and operations. stages Strategy Strategy Strategy formulation implementation evaluationSTRATEGY FORMULATION includes developing an organisation’s vision and _ mission; identifying opportunities and threats, its strengths and weaknesses; establishing its long term objectives, and generating alternative strategies and choosing the ones to pursue strategy implementationUli WOUUNTIGUUUUYU; VYULUNIOIIy LESS) mily term objectives, and generating alternative strategies and choosing the ones to pursue strategy implementation requires a firm to establish annual objectives, devise policies, motivate employees, and allocate resources so that formulated strategies can be executed STRATEGY EVALUATION involves examining the implemented strategies, comparing expected resultsrequires a firm to establish annual objectives, devise policies, motivate employees, and allocate resources so that formulated strategies can be executed STRATEGY EVALUATION involves examining the implemented strategies, comparing expected results with actual results and _ taking corrective actions to ensure that performance conforms to plansA strategy seeks answers fo: WHERE ARE WE NOW? where do we want to go? HOW ARE WE GOING TO GET THERE? BENEFITS OF STRATEGIC PLANNING Greater EnRaneed| ‘Commitment ‘Communication a. To achieve SA objectivesWHERE ARE WE NOW? where do we want to go HOW ARE WE GOING TO GET THERE? BENEFITS OF STRATEGIC PLANNING Enhanced a. Dialogue B: Participation TO ENSURE EFFECTIVE STRATEGIC PLANNING 1. It should be a people process more than a paper process. 2. It should be a learning process for all managers and employees. 3. It should be words supported by numbers rather than numbers supported by words. 4. It should be simple and nonroutine.EDD Gap YY Ve» TO ENSURE EFFECTIVE STRATEGIC PLANNING . It should be a people process more than a paper process. . It should be a learning process for all managers and employees. . It should be words supported by numbers rather than numbers supported by words. . It should be simple and nonroutine. . It should vary assignments, team memberships, meeting formats, and even the planning calendar. . It should challenge the assumptions underlying the current corporate strategy. . It should welcome bad news. . It should welcome open-mindness and a spirit of inquiry and learning. ). It should not be a bureaucratic mechanism. ). It should not become ritualistic, stilted, or orchestrated. . It should not be too formal, predictable, or rigid. . It should not contain jargon or arcane planning language. . It should not be a formal system for control. |. It should not disregard qualitative information. . It should not be controlled by “technicians.” . Do not pursue too many strategies at once. . Continually strengthen the “good ethics is good business” policy. —— A/TOTMNI. 1 SNOUIG NOt Contain Jargon or arcane planning 1anguage. . It should not be a formal system for control. . It should not disregard qualitative information. . It should not be controlled by “technicians.” . Do not pursue too many strategies at once. . Continually strengthen the “good ethics is good business” policy. VISION ‘wha do we war te become? shal, preferably one senlince, ands aby many mamagers hs posible should have impale developing the Hatem. MISSION *what is our business?” $ a cread ctatamant a ctatemant of nurnace aWY UMNGK Cie Wey WON Ls OREOWLY & MISSION ”, 99 what is our business? a creed statement, a statement of purpose, a statement of philosophy, a statement of beliefs, and a statement of business principles D e ll efits of having a clear vision and mission 1. Achieve clarity of purpose among all managers and employees.statement of business principles p e I efits of having a clear vision and mission . Achieve clarity of purpose among all managers and employees. yeaernausw . Provide a basis for all other strategic planning activities, including internal and external assessment, establishing objectives, developing strategies, choosing among alternative strategies, devising policies, establishing organizational structure, allocating resources, and evaluating performance. . Provide direction. . Provide a focal point for all stakeholders of the firm. . Resolve divergent views among managers. . Promote a sense of shared expectations among all managers and employees. '. Project a sense of worth and intent to all stakeholders. . Project an organized, motivated organization worthy of support. . Achieve higher organizational performance. ). Achieve synergy among all managers and employees.MISSION STATEMENT COMPONENTS Who are the firm’s customers? What are the firm's major products/services? Geographically, where does the firm compete? Is the firm technologically current? Is the firm committed to growth and financial soundness? What are the basic beliefs, values, aspirations, and ethical priorities of the firm? What is the firm’s distinctive competence or major competitive advantage? Is the firm responsive to social, community, and environmental concerns? Are employees a valuable asset of the firm?ON Lure wan Us becon pertierloeten bane tap sla many manag petitioned] Dusiness? having a clear vision and mission examples of vision and mission statements &S esis AMAZON Fee ein te coats, OU ViSTOMGaLabasterery most customer cur mision is to provde Cenc compamy; 10 bulld a place where Sorsumers roe the world with people can come 1 ind and Giscover anything els, affordable, convenient tnd complementary foods and ey might want to buy ome beverages Irom. wholesome breaklats to healthy and fan daytime snacks and beverages to crening rats We are commited fo investing in-out people, our Company ad’ the crnmunie Renee a speesten to provide access to the world’s srataiabe rth information in one click Our vision is to createa better everyday life for the many people. Pane ence aecetratiot One Rete ee Eoeiby Certo ean poke erpartee ele eet ect ee eee ee Se Goa: Ancrkng viable Ford delving proftate growth oaSB veesicon QT As one of the largest food and 0] beverage companies in the world, Our VIstort is to our mission is to provide CONIIG compan) consumers around the world with delicious, affordable, convenient people can come and complementary foods and they might want 1 beverages from wholesome breakfasts to healthy and fun daytime snacks and beverages to evening treats. We are committed to investing in our people, our company and the communities where we operate to help position 9 p the company for long-term, to provide ‘ sustainable growth. informatio1maZon amazon centric company; to build a place where people can come to find and discover anything they might want to buy online. y a Llthey might want to buy online. Google to provide access to the world’s information in one click Our vision is todaytime snacks and beverages to evening treats. We are committed to investing in our people, our company and the communities where we operate to help position . ' a a oem oreo to provide access to the world’s sustainable growth. information in one click Our vision is to create a better everyday life for the many people. Our Mission: One team. One plan. One goal. One Team: People working together as a lean, global enterprise for automotive leadership, as measured by: Customer, Employee, Dealer, Investor, Supplier Union/Council, and Community Satisfaction One Plan: Aggressively restructure to operate profitably at the current demand and changing model mix;LLTALC a VOLLOL a a | Fr everyday life for the many people. Our Mission: One team. One plan. One goal. One Team: People working together as a lean, global enterprise for automotive leadership, as measured by: Customer, Employee, Dealer, Investor, Supplier, Union/Council, and Community Satisfaction. One Plan: Aggressively restructure to operate profitably at the current demand and changing model mix; Accelerate development of new products our customers want and value; Finance our plan and improve our balance sheet; Work together effectively as one team. One Goal: An exciting viable Ford delivering profitable growth for all.THE NATURE OF STRATEGY A strcteay seeks answers to: 8 ls of fmaliting nglneting WHERE ARE WE NOW? ee a ether rece? el watny won Ian cnr ee ne te ‘Seaman What te tems dtc compete or major or sve pS a stages Bey my Corin festa (rete includes developing an organisation's 1; identifying opportunities and threats, its ; establishing its long term objectives, and generating alternative strategies and choosing the ones to pursue. ‘what is examples fen and sion tates “rerscoaMaZON hc toprovideaccessto the worlds fnormatien none cick requires ofr to estabsh device ur ison eto motivate employees ond oocote resources 7 cumatene 5 thot formulated strotegies con be executed very efor the face viso an mission many poole, involves the implemented strategies, results with results and teking corrective actions to ensure that performance conforms to plans