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    An International Perspective: Weihrich and Koontz

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    sunny_saini
    The document discusses strategic planning and management. It defines strategy and policies, describes the strategic planning process and tools like the TOWS matrix and business portfolio matrix. It also covers Porter's generic strategies, premises and forecasts, and the hierarchy of strategies within a company.

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    An International Perspective: Weihrich and Koontz

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    sunny_saini
    45 views19 pages
    The document discusses strategic planning and management. It defines strategy and policies, describes the strategic planning process and tools like the TOWS matrix and business portfolio matrix. It also covers Porter's generic strategies, premises and forecasts, and the hierarchy of strategies within a company.

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    management

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    17018 Strategic Planning1

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    The document discusses strategic planning and management. It defines strategy and policies, describes the strategic planning process and tools like the TOWS matrix and business portfolio matrix. It also covers Porter's generic strategies, premises and forecasts, and the hierarchy of strategies within a company.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    45 views19 pages

    An International Perspective: Weihrich and Koontz

    Uploaded by

    sunny_saini
    The document discusses strategic planning and management. It defines strategy and policies, describes the strategic planning process and tools like the TOWS matrix and business portfolio matrix. It also covers Porter's generic strategies, premises and forecasts, and the hierarchy of strategies within a company.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 19

    Weihrich and Koontz

    8th Edition

    2010

    An International Perspective

    Chapter Objectives
    After studying this chapter, you should be able to:
    1. Explain the nature and purpose of strategies and policies 2. Describe the strategic planning process 3. Understand the TOWS Matrix and the business portfolio matrix 4. Describe some major kinds of strategies & policies, and the hierarchy of strategies

    5. Identify Porter's generic strategies


    6. Discuss the nature of premises and forecasts

    Definition of Strategy and Policies


    Strategy is the determination of the mission (or the fundamental purpose) and the basic long-term objectives of an enterprise, and the adoption of courses of action and allocation of resources necessary to achieve these aims. Policies are general statements or understandings that guide managers' thinking in decision making.

    The Strategic Planning Process

    THE STRATEGIC PLANNING PROCESS


    1. 2. 3. 4. 5. Inputs to the organization Industry Analysis Enterprise Profile Orientation, Values, and Vision Mission (Purpose), Major Objectives, and Strategic Intent 6. Present and Future External Environment 7. Internal Environment

    THE STRATEGIC PLANNING PROCESS


    8. Development of Alternative Strategies 9. Evaluation and Choice of Strategies 10.Medium- and Short-Range Planning, Implementation through Reengineering the Organization Structure, Leadership, and Control 11.Consistency Testing and Contingency Planning

    TOWS MATRIX
    The TOWS Matrix is a conceptual framework for a systematic analysis that facilitates matching the external threats and opportunities with the internal weaknesses and strengths of the organization.

    TOWS Matrix

    10

    TOWS Matrix: 4 Alternative Strategies


    WT strategy: WO strategy: ST strategy: SO strategy: Mini Mini Mini Maxi Maxi Mini Maxi Maxi

    11

    Time Dimension and the Tows Matrix


    Because of the dynamics in the environment, the strategy designer must prepare several TOWS Matrices at different points in time Thus one may start with a TOWS analysis of the past, continue with an analysis of the present, and perhaps most important, focus on different time periods

    12

    BLUE OCEAN STRATEGY


    This strategy focuses on the uncontested market by offering a product or service that is unique in a market space where there is no competitor thus making competition irrelevant.

    13

    BUSINESS PORTFOLIO MATRIX


    It shows the linkages between the growth rate of the business and the relative competitive position of the firm, identified by the market share.

    14

    Business Portfolio Matrix

    15

    Business Portfolio Matrix


    Two dimensions
    Relative competitive position (market share) Business growth rate Question marks Stars Cash cows Dogs

    Four positions

    16

    MAJOR KINDS OF STRATEGIES AND POLICIES


    Products or Services
    What are some of the key questions to ask?

    Marketing
    What are some of the key questions to ask?

    17

    HIERARCHY OF COMPANY STRATEGIES


    The corporate-level strategyExecutives craft the overall strategy for a diversified company Business strategies- developed usually by the general manager of a business unit

    Functional strategies- The aim is to support the business and corporate strategies

    18

    PORTERS INDUSTRY ANALYSIS AND GENERIC COMPETITIVE STRATEGIES


    Industry Analysis Overall Cost Leadership Strategy Differentiation Strategy Focused Strategy (low cost or differentiation) The Fifth Generic Strategy: Best Value or Best Cost Producer

    19

    PREMISING AND FORECASTING


    Planning premises are the anticipated environments in which plans are expected to operate Environmental Forecasting
    Values and areas of forecasting Forecasting with the Delphi technique

    What are the typical steps of the technique?

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