challenges in advance strategic management

8/10/2019 challenges in advance strategic management

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By: Fatima Javed

Rebecca Ali


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Introduction

Strategic Drift

Strategic Lenses

Contemporary themes affecting strategy development


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Strategies fail to address the strategic

position of the company

Poor response rate Focus on past


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Strategy asDesign

Strategy asExperience

Strategy asIdeas


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A rationaland logical

process

Managersshould be

rational decision

makers

Managers shouldtake decisions

focused onoptimizing

performance


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StrategicManagement

Direction


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The view that future strategies of organizations are based

on adaption of past strategies and influenced by

experience.


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It's a 'bottom up' approach and requires an organizational

culture which allows all employees to feel able to

express their ideas.


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Importance of variety

Creating context

Fewer boundaries and greater communication

Questioning is more important then consensus


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A manager considers buying car.

Design Lens

Obtainbrochures

Majorfactors

Performance

ExperienceLens

Alwaysdriven

jaguar

Idea Lens

Bought opentopMercedes

sports


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Internationalization

Changing purposesKnowledge and

learning

E-commerce


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extend market size

range of competitors

raise issues of relationships withpotential partners overseas


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Collectivism vs individualism

Private

companies

Public

companies


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The speed at which the data can be analysed andcommunication enacted has been transformed by the

development in information and communication

technologies(ICT).

The uncertainty is about the direction and speed of

these changes


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Challenges in e-commerce

Choices available to organization also differ by ecommerce they have ability to service small market

segment and wider geography.

The relative power of buyer and suppliers is changed by e-

commerce transactions as now they have more access

about the info of competitors offering so they can shift

Expectations of stakeholders also change by e commerce

as the strategies of organizations may be now more visible

to banks , employees and community, e.g. statements ,

CSR etc.


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Private sector

Public or not

for profitsector


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Private

business ethics

corporate

socialresponsibility


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Public or notfor profit

danger scare

resource

business like


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Game changer

Strategic success

Essential for the survival of

organizations

Innovation


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Razer mobilewalkman


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Challenges in innovation

to challenge the status quoin the industry or market

the awareness of how organization's resources and

competencies can be stretched to create new opportunities.

Innovations will also be influenced by the way people are

managed and how they interact e.g. Organization's

structures that encourage interactions


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Documents

challenges in advance strategic management