Summary John R. Schemerhorn Management - Chapter 10 - The Strategic Management Process

Management Chapter 10 The Strategic Management
Process
Strategic Management

Competitive advantage
 Competitive advantage - The ability to do something so well that one
outperforms competitors
 Competitive advantage can be gained in the field of technology, cost and
quality, knowledge and speed, barriers to entry & financial resources
 Ultimate goal is to create sustainable competitive advantage, when you do
something well rivals will try and copy you.
 Sustainable competitive advantage — the ability to outperform rivals in
ways that are difficult or costly for competitors to imitate
Strategy and strategic intent
 Strategic management - the process of formulating and implementing
strategies to accomplish long-term goals and sustain competitive
advantage
 Strategic intent -

Levels of strategy


Strategic management process




Essentials of Strategic Analysis
Analysis of mission, values and objectives
SWOT analysis of organization and environment
Five forces analysis of industry attractiveness

Corporate Level Strategy Formulation
Portfolio planning model
Growth and diversification strategies
Retrenchment and restructuring strategies
Global strategies
Cooperative strategies