Strategic Management (GJW 2009-10) Strategic Management - Introduction.
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Transcript of Strategic Management
Historical development of Strategic Management
Historical development of Strategic Management1. Birth of strategic managementOriginated in the 1950s and 60sAlfred D. Chandler. Jr.;Philip Selznick;Igor Ansoff;Peter F. Drucker1950 - 1960 Alfred Chandler(strategy and structure)Important taking a long term perspective when looking to the future
Strategy was necessary to give a company structure, direction and focusPhilip Selznick, 1957SWOT AnalysisMatching internal factors organization with external environment
Strengths and weaknesses : Company environment
Opportunity and threats : business environment
Igor Ansoff, 1965(Corporate Strategy)Mengembangkan suatu strategy yang membandingkan market penetration strategies, product development strategy, market development strategy, and horizontal and vertical integration and divestification strategies.Ansoff Matrix/Growth Strategies
Ansoff's matrix provides four different growth strategies:
Market Penetration - the firm seeks to achieve growth with existing products in their current market segments, aiming to increase its market share.Market Development - the firm seeks growth by targeting its existing products to new market segments.Product Development - the firms develops new products targeted to its existing market segments.Diversification - the firm grows by diversifying into new businesses by developing new products for new markets.
Druckers Seven Key Ideas Management Will Be - Management by Objectives and Self Control (MbO) Decentralisation as the Preferred Structure The Integration of Productivity by Automation and Profit 4. Managers Must Measure 5. The Entrepreneurial Function is: The Purpose of a Business which is to create a customer6. People are Central to the Organisation7. The Managers Job is Total Integration2. Corporate Planning
(GROTH ANd PORTOFOLIO Theory)In the 60s early 70s - Harvard School- Schumacher
1960 1970, Harvard SchoolPIMS Study (Profit Impact Marketing Strategies) :
Keterkaitan antara profit dan strategy dengan ukuran, pertumbuhan dan teori portofolio
Diversifikasi, Franchise, Merger, Akuisisi dan joint venture, etc.Growth and portfolio theory Profit Impact of Marketing Strategies (PIMS)
effect of market share
Started at General Electric, moved to Harvard in the early 1970s, and then moved to the Strategic Planning Institute in the late 1970s, it now contains decades of information on the relationship between profitability and strategy
"PIMS provides compelling quantitative evidence as to which business strategies work and don't work" - Tom Peters. Bruce Henderson, 1968-BCG Matrix
Schumacher, 1973A low market share strategy could also be very profitable
3. Positioning
In the mid 70s mid80s- Harry Markowitz (1970-1980)- Jact Trout & Al Ries (1979)
1970 1980, Harry MarkowitzPortfolio theory (a broad portfolio of financial assets could reduce specific risk.
Boston Consulting Group/BCG Analysis(teknik yang dikembangkan untuk menganalisis hubungan antara elemen-elemen dalam suatu portfolio)Jact Trout & Al Ries, 1979Strategy not must judged by internal factors company but its how customer see companies in competition.
Strategy implementation its created a position in mindset consumer.
4. Competitive AdvantageIn the late 80s 90s- Michael Porter (1980-1990)- Ellen-Earle Chaffee, 1985- Tom Peters, Nancy Austin, 1985- Henry Mintzberg , 1988- Robert Kaplan, 1992- McKinsey, 1995
1980 1990, Michael Porter
(Competitive advantage andSustainable Competitive Advantage)Paradoksal,High market share and Low market share companies were often very profitable
5 Force analysis generic strategies, value chain and Strategic business units
The five Force Porter (1980)
Michael Porter in 1985 Competitive Advantage: Creating and Sustaining Superior Performance."
Ellen-Earle Chaffee, 1985The main elements of strategy management theory
Strategy management involve adapting the organization to its business environment
Strategy management is fluid and complex. Change creates novel combinations of circumstances requiring instructured non repetitive responses
continueStrategy management affects the entire organization by providing direction
Strategy management involved both strategy formulation (content) and also strategy impelemtation (process)
Strategy management is partially planned and partially unplannedcontinueStrategy management is done at several levels overall corporate strategy and individual business strategies
Strategy management involves both conceptual and analytical thought processes
Tom Peters, Nancy Austin, 1985Management By Walking Around (WBWA) they spent most of their days visiting employee, customers and suppliers
System, 3 actual : place, thing and situation
1988, Henry Mintzberg strategic planning. Instead he concludes that there are five types of strategies. They are: Strategy Process
Strategy as plan - a direction, guide, course of action - intention rather than actual Strategy as ploy - a maneuver intended to outwit a competitor Strategy as pattern - a consistent pattern of past behavior - realized rather than intended Strategy as position - locating of brands, products, or companies within the conceptual framework of consumers or other stakeholders - strategy determined primarily by factors outside the firm Strategy as perspective - strategy determined primarily by a master strategist
BALANCE SCORECARD1992, Robert Kaplan dan David Norton dalam Harvard Business Review edisi Januari-Pebruari 1992,metode pengukuran :
The Balanced Scorecard Measures That Drive Performance.
1996 Balance ScoreCard direvisi dengan munculnya istilah strategy map / peta strategi.
lebih lanjut tahun 2004 Balance ScoreCard lebih diperbaharui dengan pembahasan lebih rinci mengenai peta strategi dengan terbitnya buku :strategy maps, converting intangible assets into tangible assets 1995, McKinsey (7S Framework) They divided management into 7 aspects Hard Factors : Strategy, Structure, Systems
Soft Factors :Skills, Staff, Style, and Supraordinate goals (which we would now call shared values )
5. Strategy InnovationIn the 2000s- Knowledge ManagementThe 21 stcentury competitive landscape
globalization of industries and their markets
rapid and significant technological changes Firms use the strategic management process to achieve strategic competitiveness and earn above-average returns. Strategic competitiveness is achieved when a firm has developed and learned how to implement a value-creating strategy.
THE STRATEGIC MANAGEMENT PROCESSA strategy is
an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage.
Finally The End