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Samenvatting hoorcolleges strategic management
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Samenvatting hoorcolleges strategic management
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Samenvatting StrategicManagement
Strategy, Goals & Performance (Chapters 1 & 2)
Mintzberg’s Five P’s for Strategy
Strategy as a…
- Plan
o Consciously intended course of action
o Plan made before actions
- Ploy
o Specific tactic, maneuver
- Pattern
o Stream of actions, (un)intended consistency
o Emergent strategy (see it after the action)
- Position
o Niche in the environment
o Defined by: product-market mix, resources
- Perspective
o Shared norms, values
o Commitments to ways of acting and responding
Porter: Five Forces Shaping Competition In an Industry
,View of Strategy by Professor
Means of achieving desired ends
- Goal-driven
- Implies a set of actions
Intentional
- Not necessarily formal planning
- Not unconscious patterns of action
- But, emergent strategies are included
o Originate from unconscious/unintended actions in the past
o Awareness of pattern -> modify current/future intentions
- Aided/constrained by environment
- Aided/constrained by own resources
- Reciprocal influence between actor and environment
o Social enactment processes
Some issues in developing strategy
Corporate mission & strategic vision
The mission
Overall purpose of the organization
- Why does the organization exist?
- What business are we in?
,Functions of a mission statement
Direction
Defining the boundaries of strategic choices and actions
Legitimization
Convince stakeholders (inside & outside) that the firm is pursuing valuable activities in a
proper way
Motivation
Inspiring individuals to work together in a particular way
Vision, goals, objectives
Vision (strategic intent)
The desired future state of the organization (in its environment)
The aspirations on which strategists are trying to focus attention
Relatively vague, many details left out, like political promises
Goals
General aim in line with the mission (possibly quantitative)
Objectives
Usually quantitative or at least more precise targets
Relatively concrete milestones/benchmarks in line with the goals
Classical framework of strategic management (Rayport & Jaworski,
2004)
, Grant’s version: Applying strategy analysis
Why are there so many different views?
Broad scope of strategic management issues
- Many levels of analysis
Study those issues using different approaches
- Different fields/disciplines
o Ex. Economics, sociology, psychology, biology
- Different paradigms
o Research questions (What is foreground vs. background?)
o Assumptions (simplify studying that question)
o Units of analysis (ex. Person, firm, corp., industry, transaction)
o Analytic techniques
Schools of thought: Mintzberg
- Design
- Planning
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