-S.M. Introduction & Contexts

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    Introduction & Contexts

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    Introduction to theModule

    CLASS CONTACT 9 hours per

    week 10 weeks.

    Lecture 2 hours

    Seminar 2 hours

    E-learning 1 hourGroup work 3 hours

    Assessment 1 hour

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    Assessment of Module INDIVIDUAL management report

    - minimum 3000 words

    worth 70% of marks

    GROUP presentation, with

    1. evidence of participation andcontribution to the group.

    2. reflective evaluation of own group,

    and other groups performance- minimum 1000 words

    worth 30% of marks

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    What is Strategy?

    Class thoughts and views

    please..

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    What is Strategy?

    There is no universally

    agreed definition Why..?

    Academics have many views on whatstrategy is...

    Porter (1996)

    competitive strategy is about beingdifferent..

    Markides (1999)

    (Strategy is) the selection of a strategicposition..

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    What is The purpose of

    Strategy? Much more agreement here;

    the purpose of strategy isto help organisations

    achieve sustainablecompetitive advantage..

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    Another thought.. Kay (1993)

    Views strategy of an organisationas the match between itsinternal capabilities and

    its externalrelationships..

    Do you agree..?

    Groups please, 10 mins

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    If a large part of strategy is about trying to

    understand that world that the organisation

    operates in, so that it can make sense of it, and

    influence its position in that world..

    What does that imply for

    managers who operate atstrategic level..?

    Class thoughts? Groupsplease 10 minutes

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    Strategy

    Analysis

    Of internal & external environments

    Allows evaluation of how well placedit is to exploit opportunities

    Formulation

    At corporate level

    At business level

    Implementation

    Needs good, effectivecommunication

    Needs stakeholder buy-in

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    The strategic

    management process

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    StrategyANALYSIS

    StrategyFORMULATION

    StrategyIMPLEMENTAT

    ION

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    Strategy Formulation

    2 main perspectives

    The Design SchoolAndrews (1971); afterAnsoff (1965)

    The Learning School Mintzberg (1990)

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    The Design School

    An Organisation has to MATCH

    its Strengths & Weaknesses (its internalworld e.g. Its resources andcompetences.. In other words, its

    strengths and weaknesses..)

    ...to the Needs of the Competitiveenvironment (its external world e.g. Its

    opportunities, and the threats it faces)

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    The Learning School

    The Rational approaches of the DesignSchool fail to take account of theHUMAN condition;

    How strategy formulation occurs in real

    life depends on people; inside andoutside the organization.

    They change... Over a period of time.The way they think, they way they act,the things they need/do.

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    The Learning School 3

    sub approaches...

    Intended strategy

    Realized strategy

    Emergent strategy

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    Vision, Mission &

    Values

    What the

    organisation aspiresto achieve in thefuture

    vision

    Why theorganisation existsmission

    An organisationscentral beliefs thatwill not becompromised

    values

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    Theory of the business

    Is it reasonable to say that

    a combination of Vision,Mission & Values are whata business is all about..?

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    Any organisations

    Theory of its business Has 4 characteristics;

    Assumptions made must bebased in reality

    Assumption made in one area ofthe business must fit with others

    The Theory must be known,understood and accepted

    throughout the business

    The Theory of the business mustbe continually tested

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    Types of strategy

    Corporate

    Whatindustries

    theorganisationwants to be

    in

    Allocatesresources toSBUs andoversees

    big strategy

    Business

    How anorganisation

    will competein a marketor industry

    sector

    SBUs givenautonomy toplan

    strategies tocompete

    Functional

    Subsumedwithin

    corporateand/or

    business

    e.g.Marketing,

    R & D,Finance

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    TIE it all together..

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    Values

    GoalsResourcesStructuresProcesses

    General &competitiveenvironments

    Externalenvironment

    S.W. O.T.

    Stakeholders

    STRATEGY

    Internalenvironment

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