Professional Documents
Culture Documents
Foundation Concepts
Lecture Topics
• Concept of Strategic Management
• Path od Course
• Roles in Strategic Management
• Deliberate and Emergent Strategies
• Vision
• Mission
• Objectives
– Financial
– Strategic
• Case Study: Sears Roebuck
Concept of Strategic
Management
• Analysis (External and Internal
Environments)
• Decisions (Formulating Strategy)
• Actions (Implementing Strategy
Subsidiary Functional
Management Management
Operating Management
Employees
Modern Flow of Strategic Management
Top Management
Subsidiary Functional
Management Management
Operating Management
Employees
Why Modern Flow of Strategic
Management?
Changes in and heightened competition driven by
– Pressure for low cost products and services
– Higher quality requirements
– Globalization
– Increasing rate of technological change and diffusion
– Information technology
– Knowledge as an organizational resource
Deliberate and Emergent
Strategies
Intended Deliberate Realized
Strategy Strategy Strategy
Unrealized Emergent
Strategy Strategy
Setting Direction for the
Organization
• Vision
• Mission
• Objectives
– Financial
– Strategic
Vision
• An inspiring, long-term “dream” about
what the organization will achieve in the
future
• Represents a destination driven by and
invoking passion
Example:
Microsoft Vision