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Mindmap-Galerie Strategy丨Chapter 1 Strategy and Strategic Management
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Strategy丨Chapter 1 Strategy and Strategic Management
Strategy丨Chapter 1 A mind map of strategy and strategic management. Corporate strategy is a combination of the end points a company strives for and the ways the company seeks to achieve them.
Bearbeitet um 2023-07-04 14:16:54
Strategy丨Chapter 1 Strategy and Strategic Management
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Strategy and Strategic Management
company
mission
fundamental nature, reason for existence
Purpose
The reason for existence and direct manifestation of the fundamental nature of enterprise organizations
for-profit organization
bring economic value
Social Responsibility
Non-profit organizations
Improve social welfare
promote political and social change
purpose
Explain the company’s long-term strategic intentions
Reflect the company’s positioning
The current and future business scope of the company
Enterprise’s products (services)
customer target market
customer object technology
Business philosophy
values
basic beliefs
code of conduct
company culture
Target
concretize
Basic corporate strategy
financial target system
market share
revenue growth rate
ROI
dividend growth rate
stock price evaluation
cash flow
Company trust
strategic goal system
Obtain sufficient market competitive advantage
Overwhelm competitors in terms of product quality, customer service or product innovation, so that the overall cost is lower than that of competitors
Improve the company's reputation among customers and establish a stronger foothold in international markets
Establish technology leadership
Gain a lasting competitive advantage
Seize attractive growth opportunities
two dimensions
short term goals
Improve the company's short-term
Operating results
operating results
Long-term goals
Promote company managers to consider
What action should be taken now
Operating well over a long period of time
company strategy
definition
Tradition
time
1960s-1970s
scholar
American Porter
concept
A combination of the ends a company strives for and the means it seeks to achieve them
the difference
destination route
feature
planning
Globality
long term
modern
time
1980s
scholar
mintzberg canada
American scholar Thomson
预先性（预谋战略）
反应性（适应性战略）
concept
a series or set of decisions or actions
A (planned) strategy that can be arranged
Any improvised (unplanned) strategies
the difference
Includes only pathways, not the destination itself
feature
Adaptability
competitive
risk
level
overall strategy
top management
According to the company's goals
Choose business areas in which the company can compete
Properly allocate resources necessary for business operations
Various business operations support and coordinate with each other
business portfolio Resource allocation
Business Unit Strategy (Competitive Strategy)
Business unit management
Responding to the changing external environment
Compete effectively in their respective areas of business
compete
functional strategy
Functional department management
Mainly involves various functional departments within the enterprise
Marketing, finance, production, R&D, human resources, information technology, etc.
How to better allocate internal resources of the enterprise
Serving strategies at all levels
Improve organizational efficiency
efficiency
strategic management
connotation
Ansoff "Strategic Management Theory"
Steiner "Corporate Policy and Strategy"
comprehensive view
To achieve the company's mission and strategic goals
Scientifically analyze the internal and external environment and conditions of the enterprise
Make strategic decisions
Evaluate, select and implement strategic options
Control strategic performance
dynamic management process
feature
comprehensive management
management department
Business Unit
relevant factor
high level management
Promoted and implemented by senior corporate leaders
dynamic management
Adapt to changes in various conditions and factors inside and outside the enterprise and make appropriate adjustments or changes
process
Strategic Analysis
Where is the company currently?
Analyze content
external environment analysis
Macro environment analysis
Industrial environment analysis
Competitive environment analysis
internal environment analysis
Enterprise resources and capabilities analysis
value chain analysis
business portfolio analysis
analyzing tool
boston matrix
universal matrix
SWOT analysis
Strategic Choice
Where will the company develop?
Optional strategy types
overall strategy
development strategy
stabilization strategy
contraction strategy
business unit strategy
basic competitive strategy
Competitive Strategies for Small and Medium Enterprises
blue ocean strategy
functional strategy
marketing strategy
Production operations strategy
research and development strategy
HR strategy
financial strategy
strategy selection process
Develop strategic options
Top-down (centralized)
bottom up (democracy)
Combination of top and bottom (centralized democracy)
Evaluate strategic alternatives
suitability criteria
Whether the company's strengths have been leveraged and its weaknesses overcome
Whether opportunities were taken advantage of and threats minimized
Does it help the company achieve its goals?
acceptability criteria
Can it be accepted by corporate stakeholders?
feasibility criteria
Financial indicators for return, risk, and feasibility analysis
Choose a strategy
Choose a strategy based on business goals
Submit to superior management department for approval
Hire an outside agency
strategy implementation
Coordinate relations among all parties
strategy
Select appropriate organizational coordination and control systems
structure
Identify and establish an effective organizational structure
Ensure effective management of personnel and systems
Correctly handle and coordinate internal relationships within the company
culture
Promote corporate culture construction
Technological innovation and change
Adopt advanced technology, especially digital technology
Using financial and non-financial means and methods, Oversee strategy implementation progress
Rights and Stakeholders
Key stakeholders of the enterprise
internal stakeholders
investor
shareholder
corporate investor
benefit expectations
Dividends, dividends
majority stake
management
top management
middle management
benefit expectations
Maximize business size, growth and management position perks
maximize sales
staff
benefit expectations
Maximize personal income
Maximize career stability
external stakeholders
government
benefit expectations
Expectations for corporate taxation
buyers and suppliers
benefit expectations
Each adds value
creditor
benefit expectations
Ideal cash flow management
society
benefit expectations
social responsibility
Protect nature
Social welfare undertakings
Interest conflicts and balance among corporate stakeholders
Contradictions and Equilibrium between Investors and Managers
Baumol's "sales maximization" model
Emphasize the importance of sales
Maris' growth model ("equilibrium state" model)
Williamson's theory of managerial authority
Emphasis on managerial motivations
The conflict and balance of interests between company employees and the company (shareholders or managers) (Leontief model)
The contradiction and balance between corporate interests and social benefits
social responsibility
Ensure the basic interest requirements of corporate stakeholders
Protect the natural environment
Sponsor and support social welfare undertakings
Power and the strategic process
The difference between power and authority
that power
Power and influence in all aspects
People who are subject to power may not necessarily be able to accept all kinds of power
Power comes from all sides
Power is difficult to identify and flaunt
Authority
Authority moves along the management hierarchy from bottom to top
Authority is generally accepted by subordinates
Responsibilities are included in the designated positions or functions of the enterprise
Authority is easily determined on the company's organizational chart
Sources of power for business stakeholders
Control over resources and power to exchange
Consider the scarcity of resources and the dependence of the enterprise
position in management hierarchy
formal authority
statutory authority
reward coupons
coercive power
Personal qualities and influences
informal authority
Right of example
Expert power
Participate in or influence the strategic decision-making and implementation process of the enterprise
The extent to which stakeholders are concentrated or aligned
The use of power in strategic decision-making and implementation processes
Confrontation (firm, uncooperative)
Don’t consider the other party’s requirements
Believe in your ability to achieve your goals
reconciliation model
Make the other party submit completely
Reconciliation (unfirm cooperation)
Try to meet the other party's requirements
Maintain and improve existing relationships
reconciliation model
default
concession
Collaboration (firm cooperation)
satisfaction of one's own interests
satisfaction of the other party’s interests
reconciliation model
Seek the best combination of interests
The interests of both parties are satisfied
Compromise (medium firmness, moderate cooperation)
bargain
mutual concessions
reconciliation model
Both sides are acceptable
Avoidance (not firm, uncooperative)
erratic behavior
uncooperative behavior
combination
strategic innovation management
The importance of innovation
The ability of enterprises to adapt to the ever-changing external environment and ensure their own survival and development
The most important source of sustainable competitive advantage for enterprises
The fundamental guarantee for maintaining the competitive advantage of enterprises
strategic innovation
definition
In order to obtain sustainable competitive advantage, enterprises
Changes that have occurred or are predicted to occur in the internal and external environment
combine
environment
strategy
organize
The principle of dynamic adjustment among the three
and involves simultaneous supportive changes in all elements of the enterprise organization
for new ideas
search
choose
implement
Obtain
type
Product Innovation
provided by the organization
product
Serve
The change
process innovation
products and services
Production
payment method
The change
Positioning innovation
Changes in the environment in which products and services enter the market
Achieve innovation by repositioning the perception of existing products and processes in specific user contexts
Paradigm innovation
Changes in underlying mindsets that impact an organization's business
different aspects
novelty of innovation
Graduality
A series of continuous and steady changes
To enable the enterprise to maintain smooth and normal operation, it often occurs at certain points in time and affects certain parts of the enterprise system.
Breakthrough
comprehensive change process
Change the entire enterprise system
innovative
platform
basic product
product family
Relying on a stable basic platform Product family that can be expanded
Provide a certain scope of expansion space for innovation
level of innovation
organizational level
architectural level
henderson and clark
opportunity
innovation life cycle
Abernathy and Utterbuck
rheological stage
Explore Uncertain flexible
Competitive focus
Functional product performance
driving factors
Information required by customers
Technical investment
Main types
Frequent major changes to the product
product line
Variety, including custom designs
Production Process
Flexible but inefficient
Goals are experimental
often changes
transitional phase
Leading design
Competitive focus
Product differentiation
driving factors
Expand internal technical capabilities
Create opportunities
Main types
With the expansion of production scale
Requires significant process innovation
product line
include at least one
Stablize
leading
design
Production Process
More and more
strict
clear
mature stage
Standardization Integration
Competitive focus
cut costs
driving factors
cut costs
quality improvement
pressure
Main types
gradual
product
process
innovation
product line
Most are undifferentiated standard products
Production Process
Efficient
capital intensification
relatively strict
situation
Build an innovative organization
Shared mission, leadership and willingness to innovate
Articulate a shared sense of purpose
Extend strategic goals
Executive Commitment
appropriate organizational structure
Organizational design enables creativity, learning and interaction
The key issue is finding the right balance between "organic" and "mechanical" patterns
key individual
inventor
Organization sponsor
(technical) gatekeeper
other roles
project manager
business innovator
energize or promote innovation
All employees participate in innovation
Participate in continuous improvement activities across the organization
effective teamwork
Use teams appropriately
this department
cross-functional
interorganizational
To solve problems, one needs to be in a team
choose
construction
invest in
creative atmosphere
Use positive methods to get creative ideas
Be supported by relevant incentive systems
cross borders
Internal and external customer orientation
extensive network
Develop innovative strategies
Main processes of innovation management
exploration stage
How to find opportunities for innovation
selection stage
What to do and why
Implementation phase
How to achieve innovation
acquisition phase
How to get benefits