Management strategy tips for small business owners. Management strategy outline for the small business. How to implement a management strategy and what it consists of.
2. Roadmap
The strategic management process
Mission and vision statements
Analyzing strategic drivers and core competencies
SWOT analysis
Scenario planning
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3. The Strategic Management Process
Define the business and its mission.
Perform external and internal audits.
Translate the mission into strategic goals.
Generate and select strategies to reach strategic
goals.
Implement the strategy.
Evaluate performance.
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5. Vision and Mission
A vision statement tells people
Where we want to go
What we want to become
What we want to accomplish
Why it is important
And a mission expresses the organization’s:
Purpose - the needs we exist to address
Business - what are we doing to address these
Values - what principles or beliefs guide our work
6. Examples of Mission Statements
CORPORATION OF DADE
To provide information services in local-exchange and exchange-ac
APEX ELEVATOR
To provide a high-reliability, error-free method for moving people and
products up, down, and sideways within a building
To provide information services in local-exchange and exchange-
access markets within its franchised area, as well as cellular phone
and paging. services.
JOSEPHSON DRUG COMPANY, INC.
To provide people with longer lives and higher-quality lives by
applying research efforts to develop new or improved drugs and
health-care products.
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9. Examples of a Company’s Strengths, Weaknesses,
Opportunities, and Threats
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10. How to Test the Quality of Your
Strategy
Does your strategy fit with what’s going on in the
environment?
Does your strategy exploit your key resources?
Will competitors have difficulty keeping up with you?
Are the elements of your strategy internally
consistent?
Do you have enough resources to pursue this
strategy?
Can your strategy be implemented?
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12. How to Benchmark
as pricing, and don’t look for new product
information.
Keep information you receive confidential.
Focus on a specific problem and define it carefully
Use employees who will actually implement
changes to identify the best-practices companies
and to conduct on-site studies.
Be willing to share information with others.
Avoid sensitive issues such
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14. Scenario Planning Principles
Scenarios have value only to the extent that they inform
decision makers and influence decision making.
Scenarios add value to decision making only when
managers and others use them to systematically shape
questions about the present and the future, and to guide
how to go about answering them.
In each step of developing scenarios, the emphasis must
be on identifying, challenging, and refining the substance
of managers’ mindsets and knowledge.
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