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32 Cards in this Set
- Front
- Back
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It is the heart of strategic management. |
Strategy System |
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Strategy System or process |
Seeks to answer the question of how organizations make important decisions and link them together to form strategy |
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Single and best way of taking strategic decisions and also a top down approach |
Strategic planning |
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Mintzberg's definition of strategy |
Not only plan but pattern, position, perspective and ploy presents a broader perception of the strategy process. |
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Strategy-making processes or system is a continuum with... |
Strategic planning Strategic learning Strategic vision |
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In the strategic planning mode, this is used to plan explicit, integrated strategies for the future |
Formal analysis |
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Strategic planning approach |
(1) Formalization -process by analysis and systems which can be programmed
(2) Detachment -of thinking from action and strategy from operations or tactics
(3) Quantification -as a basis for the strategy process through the generation of hard data
(4) predetermination -of the future based on the assumption of a stable and predictable environment |
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Assumption (Ackoff 1970)) |
(1) anticipatory decision-making -planning is something we do in advance of taking action (2) system of decisions -set of interdependent decisions (3) planning is a process that is directed towards producing one or more future states |
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Mintzberg 1973 |
Formal planning demands rationality in the economists sense of the term Systematic attainment of goals |
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3 essential characteristics in strategic planning mode by Henry Mintberg |
(1) Analyst plays a major role in strategy-making (2) Focuses on systematic analysis, assessment of cost and benefits of competing proposal (3) characterized above all by the integration of decisions and strategies |
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Planning mode |
It is oriented to systematic, comprehensive analysis |
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10 stages of Argenti's system |
Stage: 1. Preparation 2. Objective and targets 3. Forecast and gaps 4. Strengths and weaknesses 5. Threats and opportunities 6. Alternative strategies 7. Selecting the strategies 8. Evaluation 9. Action plans 10. Monitoring |
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SWOT Analysis |
Strengths, weaknesses, opportunities, threats (stages 4 and 5) |
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Assessing the S and W of organizations |
1. Finance and legal 2. Facilities 3. Purchasing 4. Products and services 5. Research and development 6. Marketing 7. Distribution 8. Employees 9. Management 10. Position in the industry |
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A B C classification |
A. Item is of critical strategic importance, very valuable B. Item is strategic importance, corporate strategies C. Not of corporate significance |
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Analyze O and T |
1. Political changes 2. Economic changes 3. Social changes 4. Technological changes 5. Changes in your own industry 6. Other changes |
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H, M, L classification |
Medium High Low 1. HH (enormously important threat or opportunity) 2. HM or MH (very important) 3. LH (unlikely to occur but most severe impact) 4. HL, LM, ML, MM (can be included but not significantly important) 5. LL (not worthy) |
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At stage 6, all information is collected together into a chart called the.... |
Total strategic summary |
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Summarizes & displays the result of the swot analysis |
Cruciform chart |
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Selecting strategies |
-Very good chance of hitting its targets -protect the org from risks |
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Strategies that appear to be highly appropriate to the way the world is moving at the end of this century |
Relevant Strategies |
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Strategies w/c may be highly effective in skilled hand but may be dangerous |
Hazardous strategies |
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Evaluation Report |
1. The salient points 2. Resources required 3. Major assumptions 4. The calculation 5. What might go wrong 6. What might be disastrous 7. Previous strategies 8. Hazardous and relevant strategies 9. SWOT 19. Conclusions |
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Informal approach to strategic decision making are... |
Strategic vision and strategic learning |
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Entrepreneurial mode of the strategy making |
Strategic vision |
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4 chief characteristics of Visionary or entrepreneurial mode of strategy |
SM is dominant by the active search for new opportunities
Power is centralized in the hands of the chief executive
SM is characterized by dramatic leaps forward in the face of uncertainty
Growth is the dominant goal of the entrep org |
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More flexible way to deal with an uncertain world |
Strategic vision approach |
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Characteristics of vision (peter) |
1. Effective visions are inspiring 2. Effective visions are clear
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when strategic vision cannot cope.. |
Strategic learning |
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Realized strategy is the... |
Emergent strategy |
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4 major characteristics of strategic learning org |
1. Clear objectives 2. |
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Best managed and most successful of large org |
Hybrid approach |
