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Pengurusan StrategikStrategic Management
BPMN 3023Pensyarah: Dr Kadzrina Abdul Kadir
Bilik: 317, Bangunan Utama COBTel: 928-5262
PenilaianEvaluation
%
Kajian KesAssignment
10
PembentanganPresentation
10
Projek KumpulanGroup Project
20
Peperiksaan Pertengahan SemesterMid Semester Exam
20
Peperiksaan Akhir SemesterFinal Exam
40
JUMLAH / TOTAL 100
Strategic Management
Corporate Business Functional
Operations (POM/Stats)
HRM (HRM / Corporate Law/ OB)
Sales (Fin/OB/Acctg/Mktg)
Logistics (POM)
MIS (MIS)
Acctg (Acctg/Fin)
Marketing (Mktg/OB)
R&D (Sciences / MIS)
Market Research/ Problem Solving (KP/OB/Stats)
Strategy (Strategic Mgt/ Entr.)
Financial (Fin)
Investments (Fin)
Policies (Law)
International Market (IB / Econ)
Prereq.: >90 credits, last sem/ 2nd last sem
US Bank Industry – 2008 Recession
Investment Bank• Morgan Stanley
– Change to commercial bank
• Goldman Sachs– Change to commercial bank
• Merrill Lynch– Acquired by Bank of America
• Lehman Brothers – bankrupt
• Bear Stearns– Acquired by JP Morgan Chase
• Source: Lehman Brothers marks the end of a banking era, Newsweek, Daniel Goss, http://www.newsweek.com/id/159092 , Accessed at 9/16/2008
• Last major investment banks change status; http://www.msnbc.msn.com/id/26827357 , Accessed at 9/22/2008
Large Global Banks/Insurance
• Citigroup– US government bail out
• AIG– US government bail out
USD85 billion – own 79.9% of company
World/US recession - History
• Great Depression – 1929-1933
• Oil price crisis in US – 1973-1974
• Gulf crisis war– 1990
• Tech Burst– 2001
• U.S. confronts possibility of deep recession - Economy in Turmoil- msnbc.com; http://www.msnbc.msn.com/id/27202928/page/2/, Accessed at 10/16/2008
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Basic Concepts of Strategic Management
GlobalizationInternationalization of markets and corporations
Global (worldwide) markets rather than national markets
Electronic CommerceUse of the Internet to conduct business transactions
Basis for competition on a more strategic level rather than traditional focus on product features and costs
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Strategic Management Defined
Set of managerial decisions and actions that determines the long-run performance of a firm (“how to survive”)
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Basic Concepts of Strategic Management
4 Phases of Strategic Management
1. Basic financial planning2. Forecast-based planning3. Externally-oriented planning4. Strategic management
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Basic Concepts of Strategic Management
Highly Rated Benefits
• Clearer sense of strategic vision• Sharper focus on strategic importance• Improved understanding of changing
environment
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Basic Concepts of Strategic Management
Not Always a Formal Process
• Where is the organization now? (not where do we hope it is)
• If no changes are made, where will the organization be in 1,2,5 or 10 years?
• What specific actions should management undertake?
• What are the risks and payoffs?
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Basic Concepts of Strategic Management
Basic Elements of the Strategic Management Process
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Organizational Adaptation
Organization “fit” with environment
• Theory of population ecology – unable to adapt
• Institution theory – adapt by imitating
• Strategic choice perspective – adapt and reshape environment
• Organizational learning theory – adjust defensively and use
knowledge offensively
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Learning Organizations
An organization skilled at creating, acquiring, and transferring knowledge and at modifying its behavior to reflect new knowledge and insights
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Learning Organizations
4 Chief Activities
• Systematic problem solving• New approach experimentation• Learning from experiences• Intra-organization knowledge transfer
Toyota and suppliers In 2008, first time Toyota Corporation faced a loss
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Environmental Scanning Defined
Monitoring, evaluation, and disseminating information from external and internal environments –to key people in the firm
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Basic Concepts of Strategic Management
Environmental Variables
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Environmental Scanning
SWOT Analysis
• Strengths – Weaknesses
• Opportunities - Threats
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Strategy Formulation
Development of long-range plans for effective management of opportunities and threats in light of corporate strengths and weaknesses
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Strategy Formulation
Mission Statement
• Purpose/reason for organization• Promotes shared expectations• Communicates public image• Who we are; what we do; what we
aspire to
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Organizational Adaptation
Strategic flexibility
• Demands long-term commitment to development of critical resources
• Demands firm become a learning organization
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Basic Concepts of Strategic Management
Hierarchy of Strategy
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Goals & Objectives
Corporate Goals/Objectives
–Profitability (net profit)–Growth–Resource utilization (ROE, ROI)–Market leadership
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Basic Concepts of Strategic Management
3 Types of Strategy
–Corporate strategy
–Business strategy
–Functional strategy
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Basic Concepts of Strategic Management
Corporate Strategy
–Stability–Growth–Retrenchment
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Basic Concepts of Strategic Management
Business Strategy
–Competitive strategies
–Cooperative strategies
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Basic Concepts of Strategic Management
Functional Strategy
–Technological leadership
–Technological followership
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Basic Concepts of Strategic Management
Strategic Decision-Making
Process
Pg 22-23
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Strategic Decision Making
Strategic Decisions
–Rare
–Consequential
–Directive
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Strategic Decision Making
Mintzberg’s Modes
–Entrepreneurial mode–Adaptive mode–Planning mode–Logical incrementalism
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Hambrick and Fredrickson – Good Strategy
5 Elements of Good Strategy
1. Arenas – where will we be?2. Vehicles – how to get there?3. Differentiators – how will we win?4. Staging – what moves?5. Economic logic – how to obtain
returns?
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pg1
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STRATEGIC MANAGEMENT & BUSINESS POLICY11TH EDITION
THOMAS L. WHEELEN J. DAVID HUNGER
CHAPTER 1 Basic Concepts of Strategic Management
QUESTIONNAIRE2012
Question
• Name, Age, Semester, Program, State, DPP, MUET Band
• 1. What is your Objective that you want to achieve in– A. 5 years – B. 10 years– C. 30 years
• 2. How are you going to achieve that objective – what is your strategy?
• English Usage• How do you feel about your level of
English?• Why?
• Fill in the blanks:• How often do you:• 1. Read English newspapers?
________________• 2. Read English storybooks?
_________________• 3. Listen to English songs?
___________________• 4. Watch English movies/tv shows?
____________• 5. Talk in English with other people?
____________• 6. Talk in English in class?
_____________________
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