Strategic Management IHM Notes

STRATEGIC MANAGEMENT

01 ORGANISATIONAL STRATEGY
A. MISSION
      Mission Statement Elements and its importance
B. OBJECTIVES
      Necessity of formal objectives
      Objective Vs Goal
C. STRATEGY
      DEVELOPING STRATEGIES               
         - Adaptive Search         
         - Intuition search         
         - Strategic factors         
         - Picking Niches         
         - Entrepreneurial Approach

2. ENVIRONMENTAL AND INTERNAL RESOURCE ANALYSIS

A. NEED FOR ENVIRONMENTAL ANALYSIS
B. KEY ENVIRONMENTAL VARIABLE FACTORS
C. OPPORTUNITIES AND THREATS
      Internal resource analysis
D. FUNCTIONAL AREAS RESOURCE DEVELOPMENT MATRIX
E. STRENGTHS AND WEAKNESSES
     Marketing
     Finance
     Production
     Personnel
     Organisation

03 STRATEGY FORMULATION

A. STRATEGY (GENERAL) ALTERNATIVES
 Stability Strategies
 Expansion Strategies
 Retrench Strategies
 Combination Strategies

B. COMBINATION STRATEGIES
 Forward integration
 Backward integration
 Horizontal integration
 Market penetration
 Market development
 Product development
 Concentric diversification
 Conglomerate diversification
 Horizontal diversification
 Joint Venture
 Retrenchment
 Divestitute
 Liquidation
 Combination

04 STRATEGIC ANALYSIS AND CHOICE (ALLOCATION OF RESOURCES)

A. FACTORS INFLUENCING CHOICE
      Strategy formulation

B. INPUT STAGE
 Internal factor evaluation matrix
 External factor evaluation matrix
 Competitive profile matrix

C. MATCHING STAGE
 Threats opportunities – weaknesses – strengths matrix (TOWS)
 Strategic position and action evaluation matrix (SPACE)
 Boston consulting group matrix (BCGM)
 Internal – External matrix
 Grand Strategy matrix

D. DECISION STAGE
 Quantitative Strategic Planning matrix (QSPM)

05 POLICIES IN FUNCTIONAL AREAS
A. POLICY
B. PRODUCT POLICIES
C. PERSONNEL POLICIES
D. FINANCIAL POLICIES
E. MARKETING POLICIES
F. PUBLIC RELATION POLICIES

06 STRATEGIC IMPLEMENTATION REVIEW AND EVALUATION
A. MCKINSEY 7-S FRAMEWORK
B. LEADERSHIP AND MANAGEMENT STYLE
C. STRATEGY REVIEW AND EVALUATION
 Review underlying bases of Strategy
 Measure Organisational Performance
 Take corrective actions