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Stratigic management saed 03 05-2018

  1. Concept and Process of Strategic Management Dr. Md. Shamsul Arefin Secretary Anti-corruption Commission of Bangladesh
  2. Concepts of Strategic Management Strategic Management Set of managerial decisions and actions that determines the long-run performance of a firm.
  3. Concepts of Strategic Management 4 Phases in the Evolution of Strategic Management 1. Basic financial planning – internal focus on budgeting (1 yr horizon) 2. Forecast-based planning – extrapolate the current situation into the future (3-5 yr horizon) 3. Externally-oriented planning – planning department and/or consultants develop a top-down strategy with no lower level involvement. 4. Strategic management – involves various departments and levels across the organization. An ongoing process that includes implementation, evaluation and control issues.
  4. Concepts of Strategic Management Highly Rated Benefits • Clearer sense of strategic vision • Sharper focus on strategic importance • Improved understanding of changing environment
  5. Concepts of Strategic Management Not Always a Formal Process • Where is the organization now? (not where do we hope it is) • If no changes are made, where will the organization be in 1, 2, 5 or 10 years? • What specific actions should management undertake? • What are the risks and payoffs?
  6. Learning Organization is skilled at creating, acquiring and transferring knowledge and modifying its behavior to reflect new knowledge and insight. • Key Activities: – Solve problems systematically – Experiment with new approaches – Learn from experience – Transfer knowledge throughout the organization Strategic Management
  7. Organizational Knowledge – Technical Skills – research – Functional Skills – manufacturing and marketing – Managerial Expertise – plan, organize, influence and control Concepts of Strategic Management
  8. Concepts of Strategic Management Basic Elements of the Strategic Management Process
  9. Concepts of Strategic Management Environmental Scanning Monitoring, evaluation, and disseminating information from external and internal environments –to key people in the firm SWOT Analysis •Strengths – Weaknesses •Opportunities – Threats
  10. Prentice Hall, Inc. © 2006 1-10 Strategy Formulation Mission Statement • Purpose/reason for organization • Promotes shared expectations • Communicates public image • Who we are; what we do; what we aspire to
  11. Goals & Objectives Goals/Objectives need to be: Specific Measurable Action oriented Realistic Timing is identified SMART Goals
  12. Prentice Hall, Inc. © 2006 1-12 Strategy Implementation • Programs – single use plans (projects) • Budgets – costs associated with a program • Procedures – system of sequential steps that describe how a particular task or job is to be done Concepts of Strategic Management
  13. Evaluation and Control Process by which corporate activities and performance results are monitored so that actual performance can be compared with desired performance. Concepts of Strategic Management