Crafting Executing Strategy 19e PDF
Crafting Executing Strategy 19e PDF
Crafting strategy
A companys strategy-making hierarchy
Executing the strategy
Feedback and control
1. Understand why the strategic initiatives taken at various
organizational levels must be tightly coordinated to achieve
companywide performance targets.
2. Become aware of what a company must do to achieve
operating excellence and to execute its strategy proficiently.
3. Become aware of the role and responsibility of a companys
board of directors in overseeing the strategic management
process.
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Recap:
WHAT DOES THE STRATEGY-MAKING,
STRATEGY-EXECUTING PROCESS ENTAIL?
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FIGURE 2.1 The Strategy-Making, Strategy-Executing Process
Strategic Plan
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TASK 3: CRAFTING A STRATEGY
Strategy Making:
Addresses a series of strategic hows.
Requires choosing among strategic alternatives.
Promotes actions to do things differently from
competitors rather than running with the herd.
Is a collaborative team effort that involves managers
in various positions at all organizational levels.
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STRATEGY MAKING INVOLVES MANAGERS
AT ALL ORGANIZATIONAL LEVELS
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STRATEGIC MANAGEMENT PRINCIPLE
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WHY IS STRATEGY-MAKING OFTEN
A COLLABORATIVE PROCESS?
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A FIRMS STRATEGY-MAKING HIERARCHY
Two-Way Influence
Two-Way Influence
Two-Way Influence
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FIGURE 2.2
A Companys Strategy-
Making Hierarchy
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CORE CONCEPTS
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UNITING THE STRATEGY-MAKING
HIERARCHY
Corporate-level
Business-level
Functional-level
Operational-level
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STRATEGIC MANAGEMENT PRINCIPLE
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A STRATEGIC VISION + OBJECTIVES +
STRATEGY = A STRATEGIC PLAN
Elements of a Firms
Strategic Plan
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TASK 4: EXECUTING THE STRATEGY
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MANAGING THE STRATEGY EXECUTION
PROCESS
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MANAGING THE STRATEGY EXECUTION
PROCESS (CONTD)
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TASK 5: EVALUATING PERFORMANCE
AND INITIATING CORRECTIVE
AJUSTMENTS
Evaluating Performance:
Deciding whether the enterprise is passing the three
tests of a winning strategygood fit, competitive
advantage, strong performance.
Initiating Corrective Adjustments:
Deciding whether to continue or change the firms
vision and mission, objectives, strategy, and/or
strategy execution methods.
Based on organizational learning.
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STRATEGIC MANAGEMENT PRINCIPLE
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THE ROLE OF THE BOARD OF DIRECTORS
IN CORPORATE GOVERNANCE
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ACHIEVING EFFECTIVE
CORPORATE GOVERNANCE
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The vocabulary of strategy
Session Recap