strategic management

2. Selected Top 10 Management
Practices(ClassResponses)
Decision making at appropriate level
Available resources to be utilized judicially
Taking risks to attain the goals (risk management)
Quality management
Time management
Cost management
Ethical standards
Execution of plans to the extent possible
Financial management with internal controls
Making everyone part of the decision

3. Strategic Partnership Act
Enhanced partnership act with Pakistan
Improve the GOP’s capacity to address the
country’s most critical infrastructure needs
Help the Pakistani govt. address basic needs
and provide improved economic opportunities
in areas most vulnerable to extremism
Strengthen Pakistan’s capacity to pursue
economic and political reforms that reinforce
stability

4. Specific programs, projectsand
activities
High impact, high visibility infrastructure programs
($ 3.5 billion)
Focused humanitarian and social services ( $ 2 billion)
Increased access to and Quality of education and
health ( $ 1.5 billion)
Government capacity development ( $ 2 billion)

5. Few Interesting Social Science(s)
Findings
Physical contact improves team performance
How frequently members of NBA teams touched each
other (Kraus and Huang)
Strong relationship between day light saving time and
lower SAT scores (Gaski and Sagarin)
Do gun shows increase crime rates? (Duggan)
Self control consumes glucose in the brain? ( Dewall)
People that consumed glucose beverage behaved less
aggressively than subjects who didn’t
Extrovert leaders perform best when their employees
behave passively, the effects are reversed when employees
are pro-active (Grant)

6. Interesting research findings
(continued)
People remember information that is hard to master
(Connor)
The more people doubt their own beliefs , the more
paradoxically , they are inclined to proselytize in favor
of them (Gal and Rucker)
Male chess players pursue riskier strategies when
they are facing attractive female opponents , even
though the risk taking didn’t improve their
performance( Dreber and Gerdez)

7. CorporateGovernanceModel
Environmental Scanning
External ( general forces and industry analysis)
Internal ( culture and resources)
Strategy Formulation
Mission, Objectives, Strategies and Policies
Strategy Implementation
Programs, Budgets, Procedures
Evaluation and Control
Performance and Actual resutls

8. Corporation is a mechanism established to allow
different parties to contribute capital, expertise and
labor for their mutual benefit
Shareholders elect the directors
Directors represent shareholders , establish basic
policies, approve all the decisions-they oversee the
top management
Setting corporate strategy, overall direction and
vision
Hiring of CEO and top management, approval of use
of resources and care for shareholders
Roleand Responsibilitiesof theBoard of
Directors

9. Monitor- through committees
Evaluate and Influence-Management proposals and
decisions
Initiate and Determine-Specify strategy options
Phantom- Never knows
Rubber stamp-permits all the decisions
Minimal review-formally reviews
Nominal participation-limited degree
Active participation-Approve and Questions
Catalyst-Takes the leading role
Involvement of theBoard in Strategic
Management

10. Agency theory VsStewardship
theory
Agency theory
 Top management have a significant degree of ownership in
the firm
 Top management have a strong financial stake in its long
term performance
 A positive relationship between corporate performance and
the amount of stock owned by the directors
Stewardship theory
 Executive to be more motivated than their self interest
 Higher order needs-achievements and self-actualization
 Top management is invested in company’s long term success
than short term-shareholders interests

11. Carroll’sResponsibilitiesof
Business
Economic
Produce goods and services of value
Legal
Obey government laws
Ethical
Follow generally held beliefs about behavior in a society
Discretionary
Voluntary obligations- philanthropic contributions,
training of unemployed, providing day care centers

12. Kohlberg’sLevelsof Moral
Development
A progresses through three levels of moral
development
The preconvention level
Concern for self
The conventional level
Consideration for society’s laws and norms
The principled level
Adherence to an internal moral code
Universal values and principles