Presentation on theme: "The Managerial Process of Crafting and Executing Strategy"— Presentation transcript: 1 The Managerial Process of Crafting and Executing Strategy Show
2 “If you don’t know where you are going, any road will take you there.” 3 Chapter Roadmap What Does the Process of Crafting and Executing Strategy Entail? Developing a Strategic Vision: Phase 1 of the
Strategy-Making, Strategy-Executing Process Setting Objectives: Phase 2 of the Strategy-Making, Strategy-Executing Process Crafting a Strategy: Phase 3 of the Strategy-Making, Strategy-Executing Process Implementing and Executing the Strategy: Phase 4 of the Strategy-Making, Strategy-Executing Process Initiating Corrective Adjustments: Phase 5 of the Strategy-Making, Strategy-Executing Process Corporate Governance: The Role of the
Board of Directors in the Strategy-Making, Strategy-Executing Process 4 Fig. 2.1: The Strategy-Making, Strategy-Executing Process
5 Developing a Strategic Vision 6 Key Elements of a Strategic
Vision 7 8 9 Examples of Strategic Visions 10 Examples of Strategic Visions
11 Examples of Strategic Visions 12 Strategic Vision vs.
Mission 13 Characteristics of a Mission Statement 14 Key Elements of a Mission
Statement 15 Trader
Joe’s Mission Statement
16 Linking the Vision With Company Values 17 Example: Company Values 18 Example: Company
Values 19 Communicating the Strategic Vision
20 Examples: Vision Slogans 21 Overcoming Resistance to a New Strategic Vision 22 Strategic Inflection Points 23 Intel’s “Strategic Inflection Points” 24
Payoffs of a Clear Strategic Vision
25 Phase 2 of the Strategy-Making Process 26 Characteristics of Objectives 27 Types of Objectives Required 28
Examples: Financial Objectives 29 Examples: Strategic Objectives
30 Unilver’s Strategic and Financial Objectives 31 The Kroger Company’s Strategic and Financial
Objectives
32 DuPont’s Financial and Strategic Objectives 33
3M Corporation’s Financial and Strategic Objectives
34 Strategic Performance Fosters Better Financial Performance 35 Balanced Scorecard Approach – Strategic and Financial Objectives 36 Short-Term vs. Long-Term Objectives 37 Concept of Strategic Intent 38 Characteristics of Strategic Intent 39
Objectives Are Needed at All Levels 40 Importance of Top-Down Objectives 41 Phase 3 of the Strategy-Making Process
42 Activities Involved in Crafting a Strategy 43 Who Participates in Crafting a Company’s Strategy?
44 Strategizing: An Individual or Team Responsibility? 45 Fig. 2.2: A Company’s Strategy-Making
Hierarchy 46 Levels of Strategy-Making in a Diversified Company 47 Levels of Strategy-Making in a Single-Business
Company 48
Tasks of Corporate Strategy 49 Tasks of Business Strategy 50 Tasks of Functional Strategies 51 Tasks of Operating Strategies
52 Uniting the Company’s Strategy-Making Effort 53 What Is a Strategic Plan? 54 Implementing and Executing Strategy 55 What Does
Strategy Implementation Involve? 56 Characteristics of Good Strategy Execution
57 Evaluating Performance and Making Corrective Adjustments
58 Monitoring, Evaluating, and Adjusting as Needed 59 Corporate Governance: Strategic Role of a Board of Directors 60 Obligations of a Board of Directors
61 Good Corporate Governance Matters Which of the following is an integral part of managing your business?Introduction Decision-making is an integral part of management and the need to make all kinds of decisions – from strategic development and use of resources to employees motivation and control of all processes – are the fundamental aspects of the management process and influences company 's activities and results.
Why are crafting and executing strategy important managerial tasks?it provides clear guidance as to what the company 's business model and strategic intent are , and helps keep managerial decision - making from being rudderless . E. it establishes how well executives perform these tasks and are the key determinants of executive compensation .
Which of the following is one of the five basic stages of the strategy making strategy executing process?The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.
When companies undertake the strategy crafting strategy execution process the first step is to?Answer: E Explanation: Figure 2 displays the five-stage process. The first step is developing a strategic vision, mission, and values. The strategic management process is shaped by A) management's strategic vision, strategic and financial objectives, and strategy. B)
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