Principles of Management - C483
Strategic Planning Process
procedures organizations use in making decisions about long-term goals and strategies
Planning Hierarchy
1. Strategic - Top management
2. Tactical - Middle management
3. Operational - Frontline management
Previous
Play
Next
Rewind 10 seconds
Move forward 10 seconds
Unmute
0:00
/
0:15
Full screen
Brainpower
Read More
Decision Making Stages
1. Identify and diagnose the problem
2. Generate alternative solutions
3. Evaluate alternatives
4. Make the choice
5. Implement the decision
6. Evaluate the decision
SWOT Analysis
A tool used to identify and analyze an organization's internal Strengths and Weaknesses, as
well as external Opportunities and Threats.
Michael Porter's Competitive Environment Model
,A framework that analyzes industry structure and competition through five forces: Rival Firms,
New Entrants, Customers, Substitutes/Complements, Suppliers
Low-Cost Strategy
an organization focuses on offering a more-or-less standardized, product or service in the most
efficient way
Differentiation Strategy
A strategy aimed at creating a product or service that is perceived as unique in the marketplace
to gain a competitive advantage.
Valorization Strategy
A business approach that focuses on increasing the perceived value of a product or service to
enhance market position or profitability.
Customization Strategy
Tailoring products or services to meet the specific needs of individual customers or segments.
Standardization Strategy
Creating uniform products or services to achieve efficiency and consistency across markets.
Vertical Integration
A business strategy where a company controls multiple stages of production or distribution,
either by expanding upstream (towards suppliers) or downstream (towards customers).
Conglomerate Diversification
a strategy used to add new businesses that produce unrelated products or are involved in
unrelated markets and activities
Concentric Diversification
A strategy used to add new businesses that produce related products or are involved in related
markets and activities.
Strategic Alliances
, Partnerships between organizations to achieve mutual goals without merging, often sharing
resources, expertise, or technology.
Networking
Building and maintaining relationships with individuals, organizations, or groups to exchange
information, ideas, and resources for mutual benefit.
Core Competencies
unique combination of skills, knowledge, and resources that an organization possesses, and
which gives it an edge over the competition
Strategic Vision
A long-term, aspirational view of what an organization wants to achieve in the future.
Benchmarking
Process of assessing how well one company's basic functions and skills compare with those of
another company or set of companies. Goal is to understand the best practices of other firms to
achieve better performance and lower costs
Strategic Mission
An explanation of the basic purpose and scope of operations
Strategic Management
Process that involves managers from all parts of the organization in the formulation and
implementation of strategic goals and strategies
Generic Value Chain
sequence of activities that flow from raw materials to the delivery of a good or service
External Enviroment
all forces outside the organization's control like competitors, economy, social, etc
Internal Enviroment
forces within the organization such as culture, values, routines, and climate
Strategic Planning Process
procedures organizations use in making decisions about long-term goals and strategies
Planning Hierarchy
1. Strategic - Top management
2. Tactical - Middle management
3. Operational - Frontline management
Previous
Play
Next
Rewind 10 seconds
Move forward 10 seconds
Unmute
0:00
/
0:15
Full screen
Brainpower
Read More
Decision Making Stages
1. Identify and diagnose the problem
2. Generate alternative solutions
3. Evaluate alternatives
4. Make the choice
5. Implement the decision
6. Evaluate the decision
SWOT Analysis
A tool used to identify and analyze an organization's internal Strengths and Weaknesses, as
well as external Opportunities and Threats.
Michael Porter's Competitive Environment Model
,A framework that analyzes industry structure and competition through five forces: Rival Firms,
New Entrants, Customers, Substitutes/Complements, Suppliers
Low-Cost Strategy
an organization focuses on offering a more-or-less standardized, product or service in the most
efficient way
Differentiation Strategy
A strategy aimed at creating a product or service that is perceived as unique in the marketplace
to gain a competitive advantage.
Valorization Strategy
A business approach that focuses on increasing the perceived value of a product or service to
enhance market position or profitability.
Customization Strategy
Tailoring products or services to meet the specific needs of individual customers or segments.
Standardization Strategy
Creating uniform products or services to achieve efficiency and consistency across markets.
Vertical Integration
A business strategy where a company controls multiple stages of production or distribution,
either by expanding upstream (towards suppliers) or downstream (towards customers).
Conglomerate Diversification
a strategy used to add new businesses that produce unrelated products or are involved in
unrelated markets and activities
Concentric Diversification
A strategy used to add new businesses that produce related products or are involved in related
markets and activities.
Strategic Alliances
, Partnerships between organizations to achieve mutual goals without merging, often sharing
resources, expertise, or technology.
Networking
Building and maintaining relationships with individuals, organizations, or groups to exchange
information, ideas, and resources for mutual benefit.
Core Competencies
unique combination of skills, knowledge, and resources that an organization possesses, and
which gives it an edge over the competition
Strategic Vision
A long-term, aspirational view of what an organization wants to achieve in the future.
Benchmarking
Process of assessing how well one company's basic functions and skills compare with those of
another company or set of companies. Goal is to understand the best practices of other firms to
achieve better performance and lower costs
Strategic Mission
An explanation of the basic purpose and scope of operations
Strategic Management
Process that involves managers from all parts of the organization in the formulation and
implementation of strategic goals and strategies
Generic Value Chain
sequence of activities that flow from raw materials to the delivery of a good or service
External Enviroment
all forces outside the organization's control like competitors, economy, social, etc
Internal Enviroment
forces within the organization such as culture, values, routines, and climate
