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Strategic Management Summary
- Grado
- Strategic Management
- Institución
- Universidad Rey Juan Carlos (URJC)
Complete summary of all the chapters and the book
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STRATEGICMANAGEMENT SUMMARY
Iman Van De Perre
2022 URJC
, Strategic Management 2022
CHAPTER 1 : ABOUT STRATEGIC MANAGEMENT
STRATEGIC DECISIONS
THE CONCEPT OF STRATEGY
Strategy is the dynamics of the firm’s relation with its environment for which the necessary actions are
taken to achieve its goals and/or to increase performance by means of the rational use of resources
Characteristics of the strategic decisions
• High uncertainty
• Complex nature
• Impact upon the sum (montant, somme) of the firm’s decisions
• Changes in organizations
• Holistic approach (approche globale) to the organization
• Network of outside relations
Good and bad strategy
Good strategy
• Fit with the context and internally consistent
• Different from the competitors’ strategy
• Sustainable over time, thereby ensuring the firm’s long-term survival
, Strategic Management 2022
Reasons for strategic failure
• A poor analysis or diagnosis of the problem
• Mistake objective for strategy
• Poor definition of strategic objectives
• Organizational inertia
• The Icarus paradox or “dying from success” (phénomène de défaillance brutale des entreprises
après une période de succès apparent, où cet échec est provoqué par les éléments mêmes
qui ont conduit à leur succès initial)
• Identifying the strategic process with a formal process
Other major concepts:
The firm: strengths and weaknesses Environment: opportunities and threats
(Resources and capabilities)
Strategy: strategy (corporate, competitive, functional)
Competitive advantage (avantage concurrentiel)
Firm performance: profitability, value creation
Stakeholders (parties prenantes): shareholders (actionnaires), managers, employee, customers,
society, etc.
Apple SWOT analysis:
Strengths Weaknesses
1. Strong brand image 1. Product Recalls
2. Customer experience 2. Patent Infringement/Series of
3. Good customer service Patent
4. Great Advertising 3. Uncertain about many
5. Focus on Search and challenges
Development
6. Robust Financial Performance
, Strategic Management 2022
Opportunities Threats
1. Developing Nations like China 1. Intense Competition from
and India Samsung and many other tech
2. New Retail Stores companies
3. Newly Launched products every 2. Uncertain global economic
once in a while conditions
4. Expanding products with not only 3. Declining PC sales
smartphones, but iPads, Apple 4. Dependence on specific
Watches, Beats, Macs, Laptops, suppliers
etc. 5. Supplier pledges need to be kept
like labor, Health and Safety, etc.
Business case: projection in order to know what are the costs for at least 3/5 years. Where are you
going/ what kind of products are you selling/ market. Perform assumption, estimation.
COMPETITIVE ADVANTAGE EXAMPLES
• Marketability • Competitive
• Scale
• Productivity pressure
• Variety • Trade secrets • Cost advantage
• Processes • Risk management • Customer
• Capital • Organizational satisfaction
• Quality culture • Distinctive
• Reputation • Information capability
• Innovation technology • Economic
• Location • Customer advantage
• Experience satisfaction • Economies of scale
• Governance • Business • Economies of
• Values
connections scope (de
• Brand • Absolute gamme/de
• Know-how advantage diversification)
• Market power
• Bargaining power • Information
• Digital maturity • Barriers to entry Advantage
• Business cluster • Intellectual
• Business scale property
• Business strengths • Market position
• Cost innovation • Price leadership
• Relational capital
• Relative
advantage
• Strategic
advantage
• Swithing barriers
(barriers mobiles)
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