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Strategic
Management
- Step 1:
Strategic
Analysis (SA)
- Must be relevant, impact & implications
- Industry Analysis
(2 Types)
- Purpose: To take advantage of OPPORTUNITIES &
defend against THREATS
- External Analysis
- P.E.S.T.L.E Analysis
- P.E.S.T.L.E Analysis
- Competitive Analysis
- Porter's Competitive 5 Forces
- Porter's Competitive 5 Forces
- Purpose: To take advantage of OPPORTUNITIES &
defend against THREATS
- Internal Analysis
- Using Porter's Value-Chain Analysis
- Purpose: To identify STRENGTHS & WEAKNESSES of the company
- Using Porter's Value-Chain Analysis
- S.W.O.T Analysis
- Derived from Industry Analysis & Internal Analysis
- Derived from Industry Analysis & Internal Analysis
- Stakeholder Analysis
- Must be relevant, impact & implications
- Step 2:
Strategic
Objectives (SO)
- Vision
- Mission Statement
- Corporate Objectives
- Using Corporate Strategies to achieve
- Long-term Objectives
- Usually 3-5 years
- Usually 3-5 years
- Using Corporate Strategies to achieve
- Business Objectives
- Annual Objectives
- e.g. Budget Allocations
- e.g. Budget Allocations
- Using Business-level / Growth Strategies
- Annsoff Theory
- Michael Porter's Generic Strategy
- Annsoff Theory
- Annual Objectives
- Vision
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