E-Learning Strategic Management E-Learning Strategic Management Priscilla Christianty Budiman 2001573524 SESI 13 – 16 (STRATEGY GENERATION & SELECTION) The Strategy-Formulation Analytical Framework Stage 1 - Input Stage : Summarizes the basic input information needed to formulate strategies. EFE Matrix, the IFE Matrix, and the Competitive Profile Matrix (CPM). Stage 2 – Matching Stage : Focuses on generating feasible alternative strategies by aligning key external and internal factors. SWOT Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix. Stage 3 - Decision Stage Reveals the relative attractiveness of alternative strategies and thus provides objective basis for selecting specific strategies. Quantitative Strategic Planning Matrix (QSPM). Matching Stage A. SWOT MATRIX = helps managers to develop four types of strategies : SO (strengths-opportunities) Strategies WO (weaknesses-opportunities) Strategies ST (strengths-threats) Strategies WT (weaknesses-threats) Strategies
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Summarizes the basic input information needed to formulate strategies.
EFE Matrix, the IFE Matrix, and the Competitive Profile Matrix (CPM).
Stage 2 – Matching Stage : Focuses on generating feasible alternative strategies by aligning key external and internal
factors.
SWOT Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal-External (IE) Matrix, and the Grand Strategy Matrix.
Stage 3 - Decision Stage Reveals the relative attractiveness of alternative strategies and thus provides objective basis
for selecting specific strategies.
Quantitative Strategic Planning Matrix (QSPM).
Matching Stage A. SWOT MATRIX = helps managers to develop four types of strategies :
Uses input from Stage 1 analyses and matching results from Stage 2 analyses to decide objectively among alternative strategies and indicate which strategies are best.
SESI 17 – 18 (STRATEGY IMPLEMENTATION)
Current Marketing Issues
To use multiple How to make channel of Less TV advertising To be a price
advertisements distribution Vs. more online leader or a price more interactive (exclusive advertising follower
dealerships)
Firms should provide incentives to consumers to share their thoughts, opinions, and
experiences on the company website (INTERACTIVE MARKETING).
The company website must not be all about the company—it must be all about the customer.
New Principles of Marketing
Interactive Marketing Redesigning websites to be more interactive.
Building new sponsorship programs and other enticements on websites.
Mixing editorial and advertising content on blogs.
[SEGMENTATION]
Market Segmentation
Subdividing market into distinct subsets of customers according to needs and buying habits.
Market segmentation allows a firm to operate with limited resources because mass production, mass distribution, and mass advertising are not required.
3. SBU (STRATEGIC-BUSINESS-UNIT) STRUCTURE Groups similar divisions into strategic business units and delegates authority and
responsibility for each unit to a senior executive who reports directly to the chief executive officer.
Facilitate strategy implementation by improving coordination.
4. MATRIX STRUCTURE Most complex of all designs.
Depends upon both vertical and horizontal flows of authority and communication.
To be effective : participative planning, training, clear mutual understanding of roles and responsibilities, excellent internal communication, and mutual trust and confidence.
RESTRUCTURING : Reducing the size of the firm in terms of number of employees, number of divisions or units, and number of hierarchical levels in the firm’s organizational structure. (Downsizing, rightsizing, or delayering).
REENGINEERING : Reconfiguring or redesigning work, jobs, and processes for the purpose of improving cost, quality, service, and speed. (Process management, process innovation, or process redesign).
Managing Resistance to Change
FORCE CHANGE STRATEGY Involves giving orders and enforcing those orders.
EDUCATIVE CHANGE STRATEGY
One that presents information to convince people of the need for change.
SELF-INTEREST CHANGE STRATEGY One that attempts to convince individuals that the change is to their personal
advantage.
SESI 21 – 22 (STRATEGY MONITORING)
The Nature of Strategy Evaluation
Strategy evaluation includes three basic activities :
1. Examining the underlying bases of a firm’s strategy. 2. Comparing expected results with actual results. 3. Taking corrective actions to ensure that performance conforms to plans.
The Process of Evaluating Strategies
Strategy evaluation should initiate managerial questioning of expectations and assumptions, should trigger a review of objectives and values, and should stimulate creativity in generating alternatives and formulating criteria of evaluation.
Evaluating strategies on a continuous rather than on a periodic basis allows benchmarks of progress to be established and more effectively monitored.
Measuring Organizational Performance Strategists use common quantitative criteria to make three critical comparisons :
1. Comparing the firm’s performance over different time periods. 2. Comparing the firm’s performance to competitors’. 3. Comparing the firm’s performance to industry averages.
The Balanced Scorecard
1. How well is the firm continually improving and creating value along measures such as
innovation, technological leadership, product quality, operational process efficiencies,
and so on? 2. How well is the firm sustaining and even improving upon its core competencies and
competitive advantages? 3. How satisfied are the firm’s customers? Aims to balance long-term with short-term concerns, to balance financial with nonfinancial
concerns, and to balance internal with external concerns.
Measurement scale used by firms to make improvements and create added value, as well as to measure whether they have the capabilities to sustain in one industry.