Strategic Management

Strategic management

Strategy : long term, future, general view on the company, it considers environmental changes (suppliers, competitors, political change, technological changes, costumers)

Strategy is also about actions (if something happen in your organization, what do you do?): a set of action that considers the competitive moves

When aple removed google map from ios

Setting goals and objectives

Coordination, resources,

Plan : you take everything for granted, no change

Why company should have strategic plan?

What do we mean by strategy?

Consists of competitive moves and business approaches used by managers ti run the company

Business approaches: logical competition (for easy jet: logical competition is low cost, for air france: comfort => we decide how to compete in our industry

Management’s “action plan”

The hows that define a firm’s strategy

How to grow the business

How to please customers

How to outcome rivals

How to manage each functional piece of the business (R&D, production, marketing, HR, finance, and so on): starategy coordinates all the parts of the company

How to respond changing market conditions

How to achieve targeted level of performance

A powerful strategy leads to a sustainable competitive advantage

A company achieves sustainable competitive advantage when an attractive number of buyers prefer its products/services over those of rivals and when the basis for this preference can be maintained over time

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