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ch 6 [Autosaved].ppt
1.
Strategy Analysis and Choice Chapter Six
2.
Chapter Objectives 1. Describe
a three-stage framework for choosing among alternative strategies. 2. Explain how to develop a SWOT Matrix, SPACE Matrix, BCG Matrix, IE Matrix, and QSPM. 3. Identify important behavioral, political, ethical, and social responsibility considerations in strategy analysis and choice. 6-2 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
3.
Chapter Objectives 4. Discuss
the role of intuition in strategic analysis and choice. 5. Discuss the role of organizational culture in strategic analysis and choice. 6. Discuss the role of a board of directors in choosing among alternative strategies. 6-3 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
4.
The Nature of
Strategy Analysis and Choice Strategy analysis and choice seek to determine alternative courses of action that could best enable the firm to achieve its mission and objectives. Alternative strategies are derived from the firm’s vision, mission, objectives, external audit, and internal audit; they are consistent with, or build on, past strategies that have worked well. 6-4 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
5.
A Comprehensive Strategic- Management
Model 6-5 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
6.
The Process of
Generating and Selecting Strategies Nature of Strategy Analysis & Choice Establishing long-term objectives • Generating alternative strategies • Selecting strategies to pursue • Best alternative – achieve mission & objectives 6-6 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
7.
Vision Mission
Objectives External audit Internal audit Past successful strategies Strategy Analysis & Choice Alternative Strategies Derive From: Ch 7 -7 Copyright © 2011 Pearson Education
8.
Strategists never
consider all feasible alternatives that could benefit the firm because there are an infinite number of possible actions and an infinite number of ways to implement those actions. Therefore, a manageable set of the most attractive alternative strategies must be developed. The advantages, disadvantages, trade-offs, costs, and benefits of these strategies should be determined. Representatives from each department and division of the firm should be included in this process, as was the case in previous strategy-formulation activities. Creativity should be encouraged in this thought process. Strategy Analysis & Choice Ch 7 -8 Copyright © 2011 Pearson Education
9.
Ch 6 -9 Strategy
Analysis & Choice • Participation in generating alternative strategies should be as broad as possible • Alternative strategies proposed by participants should be considered, discussed, and ranked in order of attractiveness • When all feasible strategies identified by participants are given and understood, the strategies should be ranked in order of attractiveness by all participants, with 1 = should not be implemented, 2 = possibly should be implemented, 3 = probably should be implemented, and 4 = definitely should be implemented. This process will result in a prioritized list of best strategies that reflects the collective wisdom of the group. Ch 7 -9 Copyright © 20earson Education
10.
The Strategy-Formulation Analytical Framework 6-10 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
11.
Ch 6 -11 Comprehensive
Strategy-Formulation Framework Stage 1: The Input Stage Stage 2: The Matching Stage Stage 3: The Decision Stage Ch 7 -11 Copyright © 2011 Pearson Education
12.
A Comprehensive Strategy- Formulation
Framework Stage 1 - Input Stage summarizes the basic input information needed to formulate strategies consists of the EFE Matrix, the IFE Matrix, and the Competitive Profile Matrix (CPM) The information derived from EFE Matrix, an IFE Matrix, and a CPM matrices provides basic input information for the matching and decision stage matrices. 6-12 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
13.
Ch 6 -13 Strategy-Formulation
Analytical Framework Internal Factor Evaluation Matrix (IFE) External Factor Evaluation Matrix (EFE) Competitive Profile Matrix (CPM) Stage 1: The Input Stage Ch 7 -13 Copyright © 2011 Pearson Education
14.
A Comprehensive Strategy- Formulation
Framework Stage 2 - Matching Stage focuses on generating feasible alternative strategies by aligning key external and internal factors techniques include the Strengths-Weaknesses- Opportunities-Threats (SWOT) Matrix, the Strategic Position and Action Evaluation (SPACE) Matrix, the Boston Consulting Group (BCG) Matrix, the Internal- External (IE) Matrix, and the Grand Strategy Matrix Matching external and internal critical success factors is the key to effectively generating feasible alternative strategies. 6-14 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
15.
Ch 6 -15 Strategy-Formulation
Analytical Framework SWOT Matrix SPACE Matrix BCG Matrix IE Matrix Grand Strategy Matrix Stage 2: The Matching Stage Ch 7 -15 Copyright © 2011 Pearson Education
16.
Matching Key External
and Internal Factors to Formulate Alternative Strategies 6-16 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
17.
Matching Stage Matching external
and internal critical success factors is the key to effectively generating feasible alternative strategies. Developing strategies that use strengths to capitalize on opportunities could be considered an offensive, whereas strategies designed to improve upon weaknesses while avoiding threats could be termed defensive. 6-17 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
18.
1- The Strengths-Weaknesses- Opportunities-Threats
(SWOT) Matrix The Strengths-Weaknesses- Opportunities-Threats (SWOT) Matrix helps managers develop four types of strategies: SO (strengths-opportunities) Strategies WO (weaknesses-opportunities) Strategies ST (strengths-threats) Strategies WT (weaknesses-threats) Strategies 6-18 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
19.
1- The Strengths-Weaknesses- Opportunities-Threats
(SWOT) Matrix 1. List the firm’s key external opportunities 2. List the firm’s key external threats 3. List the firm’s key internal strengths 4. List the firm’s key internal weaknesses 5. Match internal strengths with external opportunities, and record the resultant SO Strategies in the appropriate cell. 6. Match internal weaknesses with external opportunities, and record the resultant WO Strategies. 7. Match internal strengths with external threats, and record the resultant ST Strategies. 8. Match internal weaknesses with external threats, and record the resultant WT Strategies. 6-19 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
20.
SO Strategies Use a
firm’s internal strengths to take advantage of external opportunities SO Strategies Strengths Weaknesses Opportunities Threats SWOT Ch 7 -20 Copyright © 2011 Pearson Education
21.
WO Strategies Improving internal weaknesses
by taking advantage of external opportunities WO Strategies Strengths Weaknesses Opportunities Threats SWOT Ch 7 -21 Copyright © 2011 Pearson Education
22.
ST Strategies Use a
firm’s strengths to avoid or reduce the impact of external threats ST Strategies Strengths Weaknesses Opportunities Threats SWOT Ch 7 -22 Copyright © 2011 Pearson Education
23.
WT Strategies Defensive tactics aimed
at reducing internal weaknesses & avoiding environmental threats WT Strategies Strengths Weaknesses Opportunities Threats SWOT Ch 7 -23 Copyright © 2011 Pearson Education
24.
SWOT Matrix Strengths – S List
Strengths Weaknesse s – W List Weaknesses Opportunities – O List Opportunities SO Strategies Use strengths to take advantage of opportunities WO Strategies Overcoming weaknesses by taking advantage of opportunities Threats – T ST Strategies WT Strategies Ch 6 -24 Ch 7 -24 Copyright © 2011 Pearson Education
25.
A SWOT Matrix
for a Retail Computer Store 6-25 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
26.
A SWOT Matrix
for a Retail Computer Store 6-26 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
27.
Important Aspects of
a SWOT Matrix Be specific in stating factors and strategies: both the internal/external factors and the SO/ST/WO/WT Strategies are stated in quantitative terms to the extent possible. Include the “S1, O2” type notation after each strategy in a SWOT Matrix. Not all of the strategies developed in the SWOT Matrix will be selected for implementation The strategy-formulation guidelines can enhance the process of matching key external and internal factors. Ch 7 -27 Copyright © 2011 Pearson Education
28.
Limitations with SWOT
Matrix Does not show how to achieve a competitive advantage Provides a static assessment in time May lead the firm to overemphasize a single internal or external factor in formulating strategies Ch 7 -28 Copyright © 2011 Pearson Education
29.
Ch 6 -29 Strategy-Formulation
Analytical Framework SWOT Matrix SPACE Matrix BCG Matrix IE Matrix Grand Strategy Matrix Stage 2: The Matching Stage Ch 7 -29 Copyright © 2011 Pearson Education
30.
Ch 6 -30 2-
PACE Matrix Strategic Position & Action Evaluation Matrix 4-quadrants indicate whether the most appropriate strategy is: • Aggressive • Conservative • Defensive • Competitive Ch 7 -30 Copyright © 2011 Pearson Education
31.
The SPACE Matrix 6-31 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
32.
The Strategic Position
and Action Evaluation (SPACE) Matrix The axes of the SPACE Matrix represent Two internal dimensions (financial position [FP] and competitive position [CP]) Two external dimensions (stability position [SP] and industry position [IP]). These four factors are the most important determinants of an organization’s overall strategic position Factors that were included earlier in the firm’s EFE and IFE Matrices should be considered in developing a SPACE Matrix. 6-32 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
33.
Factors That Make
Up the SPACE Matrix Axes 6-33 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
34.
Factors That Make
Up the SPACE Matrix Axes 6-34 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
35.
Steps to Develop
a SPACE Matrix 1. Select a set of variables to define financial position (FP), competitive position (CP), stability position (SP), and industry position (IP) 6-35 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
36.
Steps to Develop
a SPACE Matrix 2. Assign a numerical value ranging from +1 (worst) to +7 (best) to each of the variables that make up the FP and IP dimensions. Assign a numerical value ranging from –1 (best) to –7 (worst) to each of the variables that make up the SP and CP dimensions 6-36 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
37.
Steps to Develop
a SPACE Matrix 3. Compute an average score for FP, CP, IP, and SP 4. Plot the average scores for FP, IP, SP, and CP on the appropriate axis in the SPACE Matrix 5. Add the two scores on the x-axis and plot the resultant point on X. Add the two scores on the y-axis and plot the resultant point on Y. Plot the intersection of the new xy point 6-37 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
38.
Steps to Develop
a SPACE Matrix 6. Draw a directional vector from the origin of the SPACE Matrix through the new intersection point This vector reveals the type of strategies recommended for the organization: aggressive, competitive, defensive, or conservative 6-38 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
39.
Example Strategy Profiles 6-39 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
40.
Example Strategy Profiles 6-40 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
41.
Example Strategy Profiles 6-41 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
42.
Interpreting SPACE Matrix
When a firm’s directional vector is located in the aggressive quadrant (upper-right quadrant) ,the company can fully exploit available opportunities and enhance its market share. As the company has high financial strength, enjoys competitive advantage ,belongs to an attractive industry and operates in a relatively stable environmental conditions. Therefore, market penetration, market development, product development, backward integration, forward integration, horizontal integration, or diversification, can be feasible. 6-42 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
43.
Interpreting SPACE Matrix
When a firm’s directional vector is located in the conservative quadrant (upper-left quadrant) of the SPACE Matrix, this indicating a company having limited competitive advantage, in a not so attractive industry but enjoying financial strength and operating in a relatively stable environment. This implies staying close to the firm’s basic competencies and not taking excessive risks. Conservative strategies most often include market penetration, market development, product development, and related diversification. 6-43 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
44.
Interpreting SPACE Matrix
When a firm’s directional vector is located in the lower- right or competitive quadrant of the SPACE Matrix, , this indicating limited financial strength, medium competitive advantage in an attractive industry and operating in a relatively unstable environment, necessitating the company to maintain and enhance competitive advantage by improving/differentiating product; widening the product line, improving marketing effectiveness and mobilizing, augmenting financial resources. Competitive strategies. Competitive strategies include backward, forward, and horizontal integration; market penetration; market development and product development. 6-44 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
45.
Interpreting SPACE Matrix
When a firm’s directional vector is located in the lower-left or defensive quadrant of the SPACE Matrix, this implies that the company lacks both competitive advantage and financial strength and belongs to a not-so-attractive industry and operates in an unstable environment. All the four dimensions are weak and works against the company. It is advisable for a such a company to focus on rectifying internal weaknesses and avoiding external threats. Defensive strategies include retrenchment, divestiture, liquidation, and related diversification. 6-45 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
46.
Ch 6 -46 Strategy-Formulation
Analytical Framework SWOT Matrix SPACE Matrix BCG Matrix IE Matrix Grand Strategy Matrix Stage 2: The Matching Stage Ch 7 -46 Copyright © 2011 Pearson Education
47.
The Boston Consulting
Group (BCG) Matrix Autonomous divisions (or profit centers) of an organization make up what is called a business portfolio. When a firm’s divisions compete in different industries, a separate strategy often must be developed for each business. BCG graphically portrays differences among divisions in terms of relative market share position and industry growth rate. It allows a multidivisional organization to manage its portfolio of businesses by examining the relative market share position and the industry growth rate of each division relative to all other divisions in the organization 6-47 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
48.
The Boston Consulting
Group (BCG) Matrix Relative market share position is defined as the ratio of a division’s own market share (or revenues) in a particular industry to the market share (or revenues) held by the largest rival firm in that industry. Relative market share position is given on the x-axis of the BCG Matrix. The midpoint on the x-axis usually is set at .50, corresponding to a division that has half the market share of the leading firm in the industry. The y-axis represents the industry growth rate in sales, measured in percentage terms. The growth rate percentages on the y-axis could range from -20 to +20 percent, with 0.0 being the midpoint. 6-48 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
49.
The BCG Matrix 6-49 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
50.
The BCG Matrix Question
marks – Quadrant I Have a low relative market share position, and they compete in a high-growth industry. Generally these firms’ cash needs are high and their cash generation is low. Called Question Marks because the organization must decide whether to strengthen them by pursuing an intensive strategy (market penetration, market development, or product development) or to sell them. 6-50 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
51.
The BCG Matrix Stars—Quadrant
II Represent the organization’s best long-run opportunities for growth and profitability. Divisions with a high relative market share and a high industry growth rate. Should receive substantial investment to maintain or strengthen their dominant positions. Forward, backward, and horizontal integration; market penetration; market development; and product development are appropriate strategies for these divisions to consider. 6-51 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
52.
The BCG Matrix Cash
Cows—Quadrant III Have a high relative market share position but compete in a low-growth industry. Called Cash Cows because they generate cash in excess of their needs, they are often milked. Cash Cow divisions should be managed to maintain their strong position for as long as possible. Product development or diversification may be attractive strategies. 6-52 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
53.
The BCG Matrix Dogs—Quadrant
IV Have a low relative market share position and compete in a slow- or no-market-growth industry. Because of their weak internal and external position, these businesses are often liquidated, divested, or trimmed down through retrenchment. 6-53 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
54.
The BCG Matrix The
major benefit of the BCG Matrix is that it draws attention to the cash flow, investment characteristics, and needs of an organization’s various divisions 6-54 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
55.
Limitations of the
BCG Matrix Viewing every business as either a Star, Cash Cow, Dog, or Question Mark is an oversimplification. The BCG Matrix does not reflect whether or not various divisions or their industries are growing over time. Other variables besides relative market share position and industry growth rate in sales, such as size of the market and competitive advantages, are important in making strategic decisions about various divisions. The percent profit column is still calculated even a firm will have a division that incurs a loss for a year. 6-55 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
56.
The BCG Matrix:
Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall 6-56
57.
The BCG Matrix:
Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall 6-57
58.
The BCG Matrix:
Example Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall 6-58 An organization composed of five divisions with annual sales ranging from $5,000 to $60,000. Division 1 has the greatest sales volume, so the circle representing that division is the largest one in the matrix. The circle corresponding to Division 5 is the smallest because its sales volume ($5,000) is least among all the divisions. The pie slices within the circles reveal the percent of corporate profits contributed by each division. As shown, Division 1 contributes the highest profit percentage, 39 percent. Division 1 is considered a Star, Division 2 is a Question Mark, Division 3 is also a Question Mark, Division 4 is a Cash Cow, and Division 5 is a Dog.
59.
Ch 6 -59 Strategy-Formulation
Analytical Framework SWOT Matrix SPACE Matrix BCG Matrix IE Matrix Grand Strategy Matrix Stage 2: The Matching Stage Ch 7 -59 Copyright © 2011 Pearson Education
60.
The Internal-External Matrix
The IE Matrix is similar to the BCG Matrix in that: •Both tools involve plotting organization divisions in a schematic diagram. • The size of each circle represents the percentage sales contribution of each division, and pie slices reveal the percentage profit contribution of each division . But there are some important differences between the BCG and the IE Matrix: • The axes are different. • The IE Matrix requires more information about the divisions than the BCG Matrix. • The strategic implications of each matrix are different. The Internal-external (IE) Matrix Positions An Organization’s Various Divisions In A Nine Cell Display, Illustrated In Figure Ch 7 -60 Copyright © 2011 Pearson Education
61.
The Internal-External (IE)
Matrix 6-61 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
62.
IE Matrix Based
on two key dimensions - The IFE total weighted scores on the x-axis - The EFE total weighted scores on the y-axis each division of an organization should construct an IFE Matrix and an EFE Matrix for its part of the organization. The total weighted scores derived from the divisions allow construction of the corporate-level IE Matrix. Ch 7 -62 Copyright © 2011 Pearson Education
63.
IE Matrix On
the x-axis of the IE Matrix, an IFE total weighted score of 1.0 to 1.99 represents a weak internal position; a score of 2.0 to 2.99 is considered average; and a score of 3.0 to 4.0 is strong. Similarly, on the y-axis, an EFE total weighted score of 1.0 to 1.99 is considered low; a score of 2.0 to 2.99 is medium; and a score of 3.0 to 4.0 is high. Ch 7 -63 Copyright © 2011 Pearson Education
64.
Strategy Implications of
IE Matrix The IE Matrix can be divided into three major regions that have different strategy implications: First, the prescription for divisions that fall into cells I, II, or IV can be described as grow and build. Intensive (market penetration, market development, and product development) or integrative (backward integration, forward integration, and horizontal integration) strategies can be most appropriate for these divisions. Ch 7 -64 Copyright © 2011 Pearson Education
65.
Strategy Implications of
IE Matrix Second, divisions that fall into cells III, V, or VII can be managed best with hold and maintain strategies; market penetration and product development are two commonly employed strategies for these types of divisions. Third, a common prescription for divisions that fall into cells VI, VIII, or IX is harvest or divest. Ch 7 -65 Copyright © 2011 Pearson Education
66.
The IE Matrix 6-66 Copyright
©2013 Pearson Education, Inc. publishing as Prentice Hall
67.
Ch 7 -67
Copyright © 2011 Pearson Education
68.
Strategy Implications of
IE Matrix An organization composed of four divisions. grow and build strategies are appropriate for Division 1, Division 2, and Division 3. Division 4 is a candidate for harvest or divest. Division 2 contributes the greatest percentage of company sales and thus is represented by the largest circle. Division 1 contributes the greatest proportion of total profits; it has the largest-percentage pie slice. Ch 7 -68 Copyright © 2011 Pearson Education
69.
Ch 6 -69 Strategy-Formulation
Analytical Framework SPACE Matrix BCG Matrix IE Matrix Stage 2: The Matching Stage SWOT Matrix Grand Strategy Matrix Ch 7 -69 Copyright © 2011 Pearson Education
70.
The Grand Strategy
Matrix Grand Strategy Matrix based on two evaluative dimensions: • competitive position and • market (industry) growth 6-70 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
71.
The Grand Strategy
Matrix 6-71 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
72.
The Grand Strategy
Matrix Quadrant I continued concentration on current markets (market penetration and market development) and products (product development) is an appropriate strategy Quadrant II unable to compete effectively need to determine why the firm’s current approach is ineffective and how the company can best change to improve its competitiveness 6-72 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
73.
The Grand Strategy
Matrix Quadrant III must make some drastic changes quickly to avoid further decline and possible liquidation Extensive cost and asset reduction (retrenchment) should be pursued first Quadrant IV have characteristically high cash-flow levels and limited internal growth needs and often can pursue related or unrelated diversification successfully 6-73 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
74.
Ch 6 -74 Strategy-Formulation
Analytical Framework Stage 3: The Decision Stage Quantitative Strategic Planning Matrix (QSPM) Ch 7 -74 Copyright © 2011 Pearson Education
75.
A Comprehensive Strategy- Formulation
Framework Stage 3 - Decision Stage involves the Quantitative Strategic Planning Matrix (QSPM) reveals the relative attractiveness of alternative strategies and thus provides objective basis for selecting specific strategies 6-75 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
76.
The Quantitative Strategic Planning
Matrix (QSPM) Quantitative Strategic Planning Matrix (QSPM) objectively indicates which alternative strategies are best uses input from Stage 1 analyses and matching results from Stage 2 analyses to decide objectively among alternative strategies 6-76 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
77.
The Quantitative Strategic Planning
Matrix (QSPM) 6-77 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
78.
Steps in a
QSPM 1. Make a list of the firm’s key external opportunities/threats and internal strengths/weaknesses in the left column of the QSPM 2. Assign weights to each key external and internal factor 3. Examine the Stage 2 (matching) matrices, and identify alternative strategies that the organization should consider implementing 6-78 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
79.
Steps in a
QSPM (cont.) 4. Determine the Attractiveness Scores (AS) 5. Compute the Total Attractiveness Scores 6. Compute the Sum Total Attractiveness Score 6-79 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
80.
Positive Features of
the QSPM Sets of strategies can be examined sequentially or simultaneously Requires strategists to integrate pertinent external and internal factors into the decision process Can be adapted for use by small and large for-profit and nonprofit organizations 6-80 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
81.
Limitations of the
QSPM Always requires intuitive judgments and educated assumptions Only as good as the prerequisite information and matching analyses upon which it is based 6-81 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
82.
A QSPM for
a Retail Computer Store 6-82 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
83.
A QSPM for
a Retail Computer Store 6-83 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
84.
The Politics of
Strategy Choice Political maneuvering consumes valuable time, subverts organizational objectives, diverts human energy, and results in the loss of some valuable employees Political biases and personal preferences get unduly embedded in strategy choice decisions 6-84 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
85.
The Politics of
Strategy Choice The hierarchy of command in an organization, combined with the career aspirations of different people and the need to allocate scarce resources, guarantees the formation of coalitions of individuals who strive to take care of themselves first and the organization second, third, or fourth 6-85 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
86.
Tactics to Aid
Strategists Equifinality Satisfying Generalization Focus on Higher-Order Issues Provide Political Access on Important Issues 6-86 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
87.
Governance Issues Board of
directors a group of individuals who are elected by the ownership of a corporation to have oversight and guidance over management and who look out for shareholders’ interests 6-87 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
88.
Board of Director
Duties and Responsibilities 6-88 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
89.
Principles of Good
Governance 1. No more than two directors are current or former company executives 2. The audit, compensation, and nominating committees are made up solely of outside directors 3. Each director owns a large equity stake in the company, excluding stock options 4. Each director attends at least 75 percent of all meetings 6-89 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
90.
Principles of Good
Governance 5. The board meets regularly without management present and evaluates its own performance annually 6. The CEO is not also the chairperson of the board 7. Stock options are considered a corporate expense 8. There are no interlocking directorships (where a director or CEO sits on another director’s board) 6-90 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
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