Strategic Planning Functions of Planning Strategy Intended in addition to Realized Strategies SWOT Analysis

Strategic Planning Functions of Planning Strategy Intended in addition to Realized Strategies SWOT Analysis

Strategic Planning Functions of Planning Strategy Intended in addition to Realized Strategies SWOT Analysis

Scahnell, Christina, Facutly Advisor has reference to this Academic Journal, PHwiki organized this Journal Strategic Planning Underst in addition to Strategy in addition to how it differs from plans, in addition to tactics Look at models of strategy development Underst in addition to the process of strategy development Product Life Cycle in addition to Generic Strategies Functions of Planning 1) Identifying future opportunities 2) Identifying in addition to avoiding future problems 3) Developing courses of action 4) Underst in addition to ing the risks in addition to uncertainties associated with various options 7.2 Strategy The major courses of action that an organization should take to achieve its goals Plans-deal more with actions that should be taken Tactics-specific moves

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Intended in addition to Realized Strategies Intended-Plans that managers develop Realized-What actions actually occur Unrealized-Plans that never occur Emergent Strategy-Unplanned actions that occur Realized Strategy Intended Strategy Emergent Strategy Unrealized Strategy Outside Forces SWOT Analysis Internal Strengths in addition to Weaknesses External Opportunities in addition to Threats in the business environment

Core Competencies Strengths that make an organization distinctive from competitors Groups of sustainable competitive advantages External-O’s in addition to T’s Porter’s Five Forces Model-P94 Threat of New Entrants Supplier Bargaining Power Customer Bargaining Power Substitute Goods or Services Rivalry of Existing Firms Product Life Cycle Market phases that products usually go through during their lifetimes Introduction Growth Maturity Decline Termination

Basic Product Life Cycle Model Adapted from Figure 7.4 Introduction Growth Maturity Decline Termination Biogenetics Electric cars Cellular phones PCs Software Autos Airlines Breakfast cereals Black in addition to white TV Cigarettes Slide rule Drive-ins High Low Sales Volume Time 7.10 Diversification The variety of goods or services provided by the firm Focused Strategy Dominant Business Related Diversification Unrelated Diversification The Risks in addition to Opportunities of Diversification Identifying the Risks in addition to Opportunities of Diversification What can we do better than any of our competitors if we enter a new market What strategic assets are needed to succeed in the new market Are there synergies to be realized Will we be simply a player in the new market or will we emerge a winner What can we learn by diversifying, in addition to are we sufficiently organized to learn it 7.4

Level of Diversification in addition to Planning Scope of strategic planning Dick Clark Productions Southwest Airlines Cemex GE Dominant- business firm Single- business firm Related- business firm Unrelated- businesses firm Broad Narrow High Low Level of diversification Adapted from Figure 7.1 7.5 ABB Single-Business Strategy Serves one segment of a particular market with the intent of being the BEST Examples Southwest Airlines Intel Dominant Business Serves various segments of a single market Examples GM Trucks, Cars, Semi’s

Related Diversification A variety of similar goods or services Concentric Growth Strategy Synergies are realized Examples GM Microsoft Honda Unrelated Diversification Provide diverse products to different markets Conglomerate Growth Strategy Examples GE ABB Mitsubuishi Corporate Level Strategy Guides the overall direction of the firm deciding what SBU’s to keep, develop, purchase, or sell

Strategic Business Unit SBU-a division or subsidiary of a firm that operates relatively independently Examples pizza hut, taco bell, kfc IBM computers, mainframes, financial other examples Growth Strategies Think of facing the ultimate customer Forward Integration-when a firm buys its customers Backward Integration-when a firm buys its suppliers Horizontal Integration-when a firm buys its competitors Growth Strategies (cont) Market Penetration-development of current markets with current products Market Development-seeking new markets as long as current products Product Development-new or improved products as long as the current market

Business Level Strategies Strategies of SBU’s What is the market What are the customer needs to be filled How will they be satisfied Generic Strategies Henry Mintzberg-P245 3 basic business strategies Differentiation Low-cost Focus/Niche Question- Can the 3 basic strategies be combined Generic Strategies Model Low Cost (price) Broad Narrow Uniqueness Source of Advantage Strategic Target Differentiation strategy Cost leadership strategy Focus strategy Source: Adapted with permission of The Free Press, a Division of Simon & Schuster, Inc. from Competitive Strategy: Techniques as long as Analyzing Industries in addition to Competitors (p. 39) by Michael E. Porter, Copyright © 1980 by The Free Press. Adapted from Figure 7.6 7.12

Scahnell, Christina Summit, The Facutly Advisor

Application of the Generic Strategies Model Feature Company Examples Business-Level Strategy Differentiation Adapted from Table 7.4 Premium Quality Br in addition to image Technological leadership Customer service Lexus – autos Compaq – PCs Gillette – razors Maytag – appliances Nike – shoes 7.13 Application of the Generic Strategies Model (contd.) Feature Company Examples Business-Level Strategy Cost leadership Adapted from Table 7.4 Tight cost controls Efficient scale of facilities Efficient service, sales as long as ce, in addition to advertising Competitive pricing Feature Discount Tires – tire replacement Motel 6 – travel accommodations Wal-Mart – retailing UPS – package delivery 7.14 Application of the Generic Strategies Model (contd.) Feature Company Examples Business-Level Strategy Focus Adapted from Table 7.4 Careful identification of target market (niche) Cost leadership emphasis or differentiation emphasis Constant review of customer dem in addition to in niche Nieman Marcus – elite retailing Dick Clark Productions Polo – clothing Rolex – watches 7.15

Where to from here We have touched on the areas of: Organizational Behavior Human Resource Management Strategic Management What careers are there in each area What classes can I take in the areas MGT410,MGT499,MGT320,MGT340,MGT491

Scahnell, Christina Facutly Advisor

Scahnell, Christina is from United States and they belong to Summit, The and they are from  El Cajon, United States got related to this Particular Journal. and Scahnell, Christina deal with the subjects like Local News; Student/Alumni Interest

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This Particular Journal got reviewed and rated by Keiser University-Melbourne and short form of this particular Institution is FL and gave this Journal an Excellent Rating.