TAILIEUCHUNG - Lecture Crafting and executing strategy (15/e): Chapter 2 - Arthur A. Thompson, A. J. Strickland III, John E. Gamble

Chapter 2 - Leading the process of crafting and executing strategy. Learning objectives of this chapter include: Grasp why it is critical for company managers to think long and hard about where a company needs to head and why, understand the importance of setting both strategic and financial objectives,. | The Managerial Process of Crafting and Executing Strategy Screen graphics created by: Jana F. Kuzmicki, . Troy University-Florida Region Fig. : The Strategy-Making, Strategy-Executing Process Developing a Strategic Vision Involves thinking strategically about Future direction of company Changes in company’s product/market/customer technology to improve Current market position Future prospects Phase 1 of the Strategy-Making Process A strategic vision describes the route a company intends to take in developing and strengthening its business. It lays out the company’s strategic course in preparing for the future. Strategic Vision vs. Mission A strategic vision concerns a firm’s future business path - “where we are going” Markets to be pursued Future product/market/ customer/technology focus Kind of company management is trying to create The mission statement of a firm focuses on its present business purpose - “who we are and what we do” Current product and service offerings Customer needs being served Technological and business capabilities Characteristics of a Mission Statement Identifies the boundaries of the current business and highlights Present products and services Types of customers served Geographic coverage Conveys Who we are, What we do, and Why we are here A well-conceived mission statement distinguishes a company’s business makeup from that of other profit-seeking enterprises in language specific enough to give the company its own identify! Setting Objectives Purpose of setting objectives Converts vision into specific performance targets Creates yardsticks to track performance Well-stated objectives are Quantifiable Measurable Contain a deadline for achievement Spell-out how much of what kind of performance by when Phase 2 of the Strategy-Making Process Types of Objectives Required Outcomes focused on improving financial performance Outcomes focused on improving competitive vitality and future business position Financial Objectives Strategic .

• Quản trị kinh doanh
• Competitive advantage
• Lecture Crafting and executing strategy
• Crafting strategy
• Executing the strategy
• Company’s strategy
• Strategic vision
• The mediating effect of entrepreneurial marketing
• The relationship between environmental turbulence
• Dynamic capability with sustainable competitive advantage
• An empirical study in Indonesian MSMEs
• Sustainable competitive advantage
• SEM PLS developed a model showing
• The competitive advantage of small and medium sized enterprises
• The competitive advantage of smal
• Medium sized enterprises
• Fundamentals of marketing
• Lecture fundamentals of marketing
• Marketing mix
• Marketing task
• Marketing management
• Creating competitive advantage
• Strategic management
• Executing strategy
• Business models
• Management information systems
• Introduction to management information systems
• Business information technology
• Information systems
• Achieve competitive advantage
• Differential Advantage
• Identity ManagementStrategic Branding Decisions
• Destination Branding
• Advantage of the firms
• Capital or unskilled labour
• Human resource capital
• Role of human resources
• Five competitive strategies
• Low cost provider strategies
• Best cost provider strategies
• Company’s resources
• Competitive assets
• Principles of Marketing
• Lecture Principles of Marketing
• Marketing strategy
• Competitor analysis
• Competitive strategies
• Market positioning
• Company’s competitive position
• Operations management
• Operations strategy
• Operations competitive dimensions
• Strategy design process
• Productivity measures
• Modern competitive strategy
• Competitive strategy
• Strategic planning
• Strategy execution
• Growth and innovation
• Strategy over time
• Company’s external environment
• Competitive forces
• Summary Doctoral thesis
• Enterprise knowledge management system
• Enhancing competitive advantage
• Small and medium enterprises
• Strategic alliances
• Acquisition strategies
• Vertical integration strategies
• Foreign markets
• Strategy options
• Profit sanctuaries
• Emerging industries
• High velocity markets
• Maturing industries
• Entering new businesses
• Strategic partnerships