Strategic Ambnagement Assignment
Essay Preview: Strategic Ambnagement Assignment
Report this essay
Iakovleva TatianaNBU-MBAID:1414121016Strategic management The first dayAt first day we studied strategic management and strategic competitiveness, the external environment: opportunities, threats, industry competition and competitor analysis, the internal environment: resources, capabilities and core competencies. 1 topic-Strategic management is the study of why some firms outperform others: how to compete in order to create competitive advantages in the market and how to create competitive advantages in the market place.- Also we checked strategic management process, above- average returns, competitive advantages. -Then was the nature of competition in many of the world’s industries and how it in depend technology, investments, global financial crisis, hypercompetition.- After that we studied the global economy, globalization, changes in technology and technological. The industrial organization model of above –average returns. This model specified that industry has stronger influence on the performance than manager’s choice.- Resource-based model of above-average returns, resources and capabilities.- Strategic vision and strategic management, mission. Example, “Club Med is a refined, generous, and a la carte holiday that will meet all your expectations”. Its mission is to give its customers a special experience of luxurious and personalized all-inclusive family vacations.- Song zi’s five crucial factors for victories(道，天，地，将，法).-Stakeholders, 4 groups of stakeholders-Strategic leaders, organization culture, her structure and elements.-Strategic management process- is a rational approach firms use to achieve strategic competitiveness and earn above-average returns.2 topicWe studied about:- the external environment , the organization and its environment, components of external analysis(scanning, monitoring, forecast, assessing).-external environmental analysis. It focused on the future, specific, predicting the dynamics of competitors, opportunities and threats. – the five forces model of competition(treat of new entrants, bargaining power of supplier, bargaining power of buyers, threat of subtractive products, rivalry among competing firms ). – interpreting industry analyses (unattractive and attractive industry).-strategic groups- a group of firms emphasis similar strategic dimensions to use the same or a similar strategy. -competitor analysis- focuses on competitors moves, assumptions, capabilities and strategies.3 topic-the context of internal environment(firm has ability to undertake value-creating activities, uses unique resources).-components of internal analysis, creating value, the challenge of internal analysis(manager’s strategic decisions about resources, capabilities and core competencies are non-routine and have ethical and competitive implications).-tangible resources(financial, organization, physical, technological), intangible resources(human, innovation, reputation).-the four criteria of sustainable competitive advantage (valuable, rare, costly-to-imitate, non-substitutable capabilities), value chain analysis, the value- creating potential of primary activities(inbound logistics, operations, outbound logistics, marketing and sales, services). The value- creating potential of support activities(procurement, technological development, human resource management ,firm infrastructure). Value chain(HRM: building HR on base of release human power throw motivation).
-outsourcing is the purchase of a value-creating activity from an external supplier ( a firm may outsource all or only part of one or more primary and support activities).-competencies, strengths, weaknesses and strategic decisions, SWOT analysis.The second dayWe studied business- level strategy, competitive rivalry and competitive dynamics, corporate- level strategy. 4 topic-business level strategy- an integrated and coordinated set of commitments and actions designed to gain a competitive advantage by exploiting core competencies in specific, individual product markets. -how to effectively manage relationships with customers . Who determining the customers to serve; basis for customer segmentation. Consumer market: demographic, socio-economy, geographic, psychological, consumption, perceptual factors .Industrial markets: end-use , product, geographic, common buying factor, customer size segments. -purpose of a business-level strategy- are intended to create differences in the firm’s position relative to that of its rivals. -types of business level strategy(broad target and narrow target, cot and uniqueness advantages ).-cost leadership strategy (low price, features acceptable, relatively standardized products).Differentiation strategy, value activities associated with the differentiation strategy(highly development MIS, emphasis on quality, worker compensation for creativity, etc.). Focus strategy(focused cost leadership and focused differentiation strategies). Integrated cost leadership/ differentiation strategy- a firm that successfully uses the integrated cost leadership/ differentiation strategy should be in a better position to adapt quickly, learn new skills, effectively leverage. -sources of strategic flexibility: flexibility manufacturing system, information networks, total quality management systems.-competitive risk of the integrate cost leadership/ differentiation strategy(often involves compromise and becoming ‘stuck in the middle’).5 topic-competitive rivalry: jockey with one another and opportunities to improve-competitor analysis(market and resource). Competitive rivalry- engagement(competitive action, response, strategic and tactical actions).-likelihood of attack: first, second and last movement; organizational size, speed, innovation, quality.-quality dimensions of good and services(product quality dimensions, service quality dimensions ).-likelihood of response: type of competitive action, actor’s reputation, market dependence, resource availability.-competitive dynamics(slow cycle, fast cycle, standard cycle).6 topicTwo levels of strategy: business- level strategy and corporate- level strategy. Levels and types of diversification: single and dominate business, restated constrained, etc.-diversification strategy(multi-industry and multi-business strategy)