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Strategic Management Overview by Kanchan

This document provides an overview of strategic management. It discusses key concepts like the strategic management process, levels of strategies, functional strategies, and the business environment. The strategic management process involves setting goals, environmental scanning, strategy formulation, implementation, and evaluation. The business environment consists of internal and external factors, and environmental scanning techniques are used to study trends. Risks of strategic management include issues like time, uncertainty, and resistance to change.

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prathamesh gadgil
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20 views33 pages

Strategic Management Overview by Kanchan

This document provides an overview of strategic management. It discusses key concepts like the strategic management process, levels of strategies, functional strategies, and the business environment. The strategic management process involves setting goals, environmental scanning, strategy formulation, implementation, and evaluation. The business environment consists of internal and external factors, and environmental scanning techniques are used to study trends. Risks of strategic management include issues like time, uncertainty, and resistance to change.

Uploaded by

prathamesh gadgil
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Strategic

Management

Dr. Kanchan
1 Introduction to Strategic Management
 
∙ Concept of Strategic Management, Strategic
Management Process, Vision, Mission and Goals,
Benefits and Risks of Strategic Management.
∙ Levels of Strategies: Corporate, Business and
Operational Level Strategy
∙ Functional Strategies: Human Resource Strategy,
Marketing Strategy, Financial Strategy , Operational
Strategy
∙ Business Environment: Components of
Environment- Micro and Macro and Environmental
Scanning
Strategic management typically
involves:
•Analyzing internal and external strengths and
weaknesses.
•Formulating action plans. 
•Executing action plans.
•Evaluating to what degree action plans have been
successful and making changes when desired results are
not being produced.
The systematic analysis of the factors
associated with customers and competitors
(the external environment) and the
organization itself (the internal environment)
to provide the basis for maintaining optimum
management practices. The objective of
strategic management is to achieve better
alignment of corporate policies and strategic
priorities.
Strategic Management Process

Strategy
Goal Env Startegy Strategy
Implemen Review
Setting scanning Formulation Evaluation
tation
A vision statement identifies where the organization
wants or intends to be in future or where it should be to
best meet the needs of the stakeholders. It describes
dreams and aspirations for future.
Microsoft’s vision is “to empower people through great
software, any time, any place, or any device.”
Wal-Mart’s vision
to become worldwide leader in retailing.
Mission statement is the statement of the role by which
an organization intends to serve it’s stakeholders
Risks in Strategic Management
1. Time
2. Unrealistic expectations
3. Uncertain implementation
4. Negative Perception
5. No specific Objectives & Measurable Outcomes
6. Resistance to Change
7. Unanticipated
8. Expensive
9. Long Term vs. Immediate Results
10. Impedes Flexibility
Business Environment
The term ‘business environment’
connotes external forces, factors and
institutions that are beyond the
control of the business and they
affect the functioning of a business
enterprise. These include customers,
competitors, suppliers, government,
and the social, political, legal and
technological factors etc.
Business Environment

Internal Env External Env


Factors Factors

Micro Factors Macro Factors


Plans & Policies:
Human Resource:
Financial Resources:
Corporate Image: Customers: Demographic
Plant and Machinery: Competitors: Economic
Labour and Suppliers: Techological
Management Cultural/Social
Relationship: Society:
Marketing Political
Promoter’s vision:
intermediaries: Natural
Organization structure:
Legal
Techniques/Methods of Environmental scanning:
Environmental scanning is a technique of detail study of the
environment. It is done to assess the trend of the environment and
prepare the organization accordingly. There are different
techniques/methods of environmental scanning. They are discussed
below:
Executive opinion method: 
Expert opinion method: 
Delphi method:
Extrapolating method:
Historical analogy:
Intuitive reasoning:
Scenario building:
Cross-impact matrix:

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