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strategic management

Summary of strategic management knowledge points, corporate strategic management, strategic management process, strategic innovation process, basic concepts of corporate strategy, strategic meaning, mission and goals, and three levels of strategy.

Edited at 2022-08-26 17:25:25

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Outline

Strategy and Strategic Management

corporate strategic management

The connotation and characteristics of company management

Features: Dynamic and high-height. Oral decision: Dong Gao

Comprehensive management: Involving all management departments of the enterprise, business units and all related factors

The high level must be determined by the company’s Senior leadership to promote and implement

Adapt to various conditions and factors inside and outside the enterprise Make appropriate adjustments or changes to changes in

strategic management process

Strategic Analysis

Understand the organization's environment and relative competitive position The current status of the company and its position SWOT

internal environment

Enterprise resources and capabilities analysis

value chain analysis

Business portfolio analysis

external environment

Macro environment analysis

Industrial environment analysis

Competitive environment analysis

National Competitive Advantage Analysis

Strategic Choice

Strategy formulation, evaluation and selection

overall strategy

development strategy

stabilization strategy

contraction strategy

business unit strategy

basic competitive strategy

Competitive Strategies for Small and Medium Enterprises

blue ocean strategy

Ye Neng Strategy

marketing strategy

R&D strategy

Production operations strategy

Procurement strategy

HR strategy

financial strategy

strategy selection process

Develop strategic options Grasp the degree of centralization and decentralization, Guarantee of the overall corporate goals, Give full play to the enthusiasm of middle and lower-level managers, Coordination of strategic plans of various departments of the enterprise

top-bottom combination method

bottom-up approach

top-down approach

Evaluate strategic alternatives SWOT goal achievement

feasibility criteria

The most important aspect of strategic evaluation is to consider strategic benefits. Risk, feasibility analysis on financial indicators

acceptability criteria

Consider whether the chosen strategy will be acceptable to business stakeholders

suitability criteria

Whether the strategy chosen by Kaohu leverages the company's strengths and overcomes its weaknesses? Whether opportunities have been taken advantage of and threats minimized, Does it help the company achieve its goals?

Choose a strategy

Hire external experts

Submit to superior management department for approval

Choose a strategy based on business goals

strategy implementation

Take steps to make the strategy work How to translate strategy into practice

Identify and establish an effective organizational structure

Ensure effective management of personnel and systems

Correctly handle and coordinate internal relationships within the company

Select appropriate organizational coordination and control systems

Coordinate the relationship between corporate strategy, structure, culture and profit-making

strategic innovation process

What is strategic innovation

It means that in order to obtain sustainable competitive advantage, enterprises According to the changes that have occurred or are predicted to occur in the internal and external environment, Combining the principle of dynamic coordination among environment, strategy and organization, And involves simultaneous supportive changes in all elements of the enterprise organization, The systematic process of searching, selecting, implementing, and acquiring new ideas

change, innovation, invention

Change and Innovation

Change: the transformation of an enterprise into new conditions and a process of constant change, Current plans and concepts may be used, May not generate new ideas

Innovation: generating new ideas and concepts and put them into the process of business management

inventions and innovations

Invention: Converting smart new ideas into tangible products. (a product/a process/a model)

Innovation: not a single act, but the generation of new ideas, All activities involved in the development, implementation and acquisition process

importance of innovation

Enterprises adapt to the changing external environment, Ability that is crucial to ensuring one’s own survival and development

The main source of sustainable competitive advantage for enterprises

new products, market share

The role of non-price factors

Compete for time, resist pressure, and come up with new things quickly

Continuous innovation is the fundamental guarantee for maintaining the competitive advantage of enterprises

Types of strategic innovation

Product Innovation Changes to products and services

Generally, a new generation of products is launched, mainly for users

process innovation Changes in the production and delivery of products and services

Process simplification mainly involves process innovation, Changes in how internally oriented process changes are delivered

Positioning innovation changes in the environment in which products and services enter the market, i.e. by retargeting in specific user contexts Awareness of existing products and processes to enable innovation

Changes in the market environment and repositioning under specific circumstances, The keyword is usually "positioning" (change in target market)

Paradigm innovation Changes in underlying mindsets that impact an organization's business

Think about changes in model, profit model, and business model

Different aspects of exploration

The degree of novelty of innovation - incremental or breakthrough (quantitative change is better than qualitative change is not rigid)

Innovative Platforms and Product Families (Platform Strategies)

The level of innovation - component level (partial), architectural level (overall)

Opportunity-innovation life cycle

Gradual stage (exploration is uncertain and flexible) customization, products change frequently, there are no standards, and the probability of failure is high

In the transition stage (leading design), process innovation is the main body and the process is clearly defined.

In the mature stage (standardization, integration), process innovation can reduce costs more, but it has passed away in mass production and is efficient.

strategic innovation situation

7 components of an innovative organization

Shared mission, leadership and willingness to innovate

Executive Commitment

appropriate organizational structure

The right balance of organic and mechanical

key individual

Inventors, organizational sponsors, other innovative energy

All employees participate in innovation

Participate in continuous improvement activities across the organization

effective teamwork

Invest in team selection and building

creative atmosphere

Positive approach, supported by relevant incentive system

cross borders

Extensive network of internal and external customer orientation

Build an innovative organization

Develop innovative strategies

Main process

How to find innovation opportunities in the search phase one

Choose what to do in phase one and why

How to achieve innovation in implementation phase one

How to obtain benefits in the first stage of acquisition

Basic concepts of corporate strategy

strategic implications

traditional concept

Porter of Harvard University in the United States in the 1960s and 1970s count, total, length

modern concept

Canadian Mintzberg response, struggle, risk

Comprehensive concept

Thomson's combination of advance planning and emergency response is both proactive (premeditated strategy) and reactive (adaptive strategy).

Mission and goals

mission

Company purpose

why The fundamental nature of business organization and the embodiment of reason for existence

for-profit organization

The primary purpose is to bring economic value to the owner

The second purpose is to fulfill social responsibilities To ensure the realization of the main economic goals of the enterprise

Representative: Enterprise

Non-profit organizations

The primary purpose is to improve social welfare, - Promote political and economic change rather than profit-making

Represented by: Red Cross, charities, World Health Organization, United Nations

Company purpose

what

The company’s long-term strategic intentions

What the company needs now and in the future Business scope engaged in

The company’s business scope should Including enterprise products or services, customer objects, Market and technology etc.

Reflect the company’s positioning

Market positioning relative to other companies and how to satisfy How to allocate internal resources to the needs of customers and the market to maintain the company's competitive advantage

Business philosophy

believe

The way a company conducts its business activities Values, Fundamental Beliefs and Code of Conduct

A high-level summary of corporate culture

Mainly through the company's attitude towards stakeholders and the shared values promoted by the company, Policies and goals, as well as management style, etc.

Affect the company's business scope and results

Vision and Mission

F u t u r e, direction, goal, purpose, responsibility, obligation, motivate stakeholders, constrain stakeholders

Target, Embodiment of mission

financial and strategic goals system short term and long term

Financial target system: four rates—evaluation—cash flow—trust, market share, revenue growth rate, return on investment, dividend growth rate, stock price evaluation, cash flow, and company trust

Improve the company's competitiveness, improve the company's long-term business prospects, and compare with competitors

All managers participate

Three levels of strategy

overall strategy corporate level strategy

Choose the scope of business areas and allocate resources rationally. Business support coordination. Development shrinks and stabilizes

business unit strategy competitive strategy, secondary strategy

Single business and overall business are combined into one. Cost differentiation and centralization

functional strategy, functional strategic layer

Internal resource allocation to improve efficiency, A single various activities and different functional businesses or activity synergy