Fundamentals of Strategic Management IR1 2024-25 PDF

Fundamentals of Strategic Management IR1 2024-25 Ángel Araujo, Ph.D. GRACIAS POR ASISTIR Inversiones de Impacto Ángel Araujo, Ph.D. 1 UFV - IR 1 Fundamentals of Strategic Management About Strategic Management 2 Ángel Araujo, Ph.D....

Fundamentals of Strategic Management IR1 2024-25 Ángel Araujo, Ph.D. GRACIAS POR ASISTIR Inversiones de Impacto Ángel Araujo, Ph.D. 1 UFV - IR 1 Fundamentals of Strategic Management About Strategic Management 2 Ángel Araujo, Ph.D. 2 00 | Calendar & Class Rules When will everything happen? 9/9/2024 9/12/2024 9/16/2024 9/19/2024 9/23/2024 9/26/2024 9/30/2024 10/3/2024 10/7/2024 10/10/2024 10/14/2024 10/17/2024 Future Future About Strategy About Strategy The Office of Strategy Environmental Environmental Internal Internal Case Flash Introduction Management-The State of Direction and Direction and Forward: Management Management Analysis Analysis Analysis Analysis the Art, 2011.pdf Value Value Nike, Inc. Class Class Class Practise Practise Class Class Class Class Class Class Practise 10/21/2024 10/24/2024 10/28/2024 10/31/2024 11/4/2024 11/7/2024 11/11/2024 11/14/2024 11/18/2024 11/21/2024 11/25/2024 11/28/2024 Directions for Directions for Paris Baguette: Evaluation and Competitive Competitive Methods of Methods of Internationalis Internationalis Strategic Strategic Quintessentially French with implementatio Strategies Strategies Development Development ation ation development development Love from Korea n Practise Class Class Class Class Class Class Class Class Practise Practise Class 12/2/2024 12/5/2024 12/9/2024 12/12/2024 Evaluation and Ben & Jerry's Homemade Ice Cream, Inc.: A Period of Transition implementation Class Team Dynamics Team Dynamics Team Dynamics 3 00 | Learning Goals Learning Goals Consider when studying 1. Define the main concepts of strategy 2. Delimit the different phases involved in the Strategic Management process and analyse their potential advantages 3. Analyse the process rationale and the factors upon which it depends 4. Establish a framework of analysis for Strategic Management based on a holistic approach encompassing economic- rational issues and those of an organisational nature 4  Index - Structural Pilars 01 02 03 Strategic Decisions The Process of Strategic Strategy Management Management as a and its Responsibility Field of Study Ángel Araujo, Ph.D. 5  Index 01 02 03 04 About Strategic The Concept of Other major Levels of Strategy Management Strategy Concepts 05 06 07 08 Phases / Process Responsibility for Fit and change in Approaches to of Strategic Mgt. Strategic Decisions the process Strategic Management & Toward a holistic view Ángel Araujo, Ph.D. 6  05 Phases / Process of Strategic Mgt. Ángel Araujo, Ph.D. [email protected] 7 05 | Phases / Process of Strategic Mgt. The process of strategic management STRATEGIC ANALYSIS STRATEGIC STRATEGIC IMPLEMENTATION FORMULATION External analysis Design of Strategy Strategic Firm’s future strategic assessment Implementation control orientation options and selection Internal analysis 8  05 | Phases / Process of Strategic Mgt. The process of strategic management STRATEGIC ANALYSIS STRATEGIC STRATEGIC IMPLEMENTATION FORMULATION External analysis Firm’s future orientation Vision, mission, values and strategic goals Internal analysis Diagnosis: opportunities, threats, strengths and weaknesses 9  05 | Phases / Process of Strategic Mgt. The process of strategic management STRATEGIC ANALYSIS STRATEGIC STRATEGIC IMPLEMENTATION FORMULATION External analysis Design of Firm’s future strategic orientation options Vision, mission, values Corporate and and strategic goals Internal competitive analysis strategies Diagnosis: opportunities, threats, strengths and weaknesses 10  05 | Phases / Process of Strategic Mgt. The process of strategic management STRATEGIC ANALYSIS STRATEGIC STRATEGIC IMPLEMENTATION FORMULATION Organisational Review of the External Suitability, medium and strategic analysis feasibility, strategic decision- acceptability planning making process Design of Strategy Strategic Firm’s future strategic assessment Implementation control orientation options and selection Vision, mission, values Corporate and and strategic goals Internal competitive analysis strategies Diagnosis: opportunities, threats, strengths and weaknesses 11  06 Responsibility for Strategic Decisions Ángel Araujo, Ph.D. [email protected] 12 06 | Responsibility for Strategic Decisions Persons and groups involved Board of Directors Strategic consulting Firms Top CEO Staff Management Commercial Adm. Management Operations Management Management 13 06 | Responsibility for Strategic Decisions Persons and groups involved Overall supervision of the process Evaluation and control of top managers Defend shareholders’ interests Board of Directors 14 06 | Responsibility for Strategic Decisions Persons and groups involved Overall supervision of the process Evaluation and control of top managers Defend shareholders’ interests Board of Directors Top CEO Management 15 06 | Responsibility for Strategic Decisions Information gathering and analysis Persons and groups involved Recommendations Overall supervision of the process Evaluation and control of top managers Defend shareholders’ interests Board of Directors Strategic consulting Firms Top CEO Management 16 06 | Responsibility for Strategic Decisions Information gathering and analysis Persons and groups involved Recommendations Overall supervision of the process Evaluation and control of top managers Defend shareholders’ interests Board of Directors Strategic consulting Firms Top CEO Management Commercial Adm. Management Operations Management Management 17  07 Fit and change in the process Ángel Araujo, Ph.D. [email protected] 18 07 | Fit and change in the process Strategic and organisational fit Context EXTERNAL INTERNAL STRATEGIC OBJECTIVES 19 07 | Fit and change in the process Strategic and organisational fit Context Strategic Fit EXTERNAL INTERNAL Strategy STRATEGIC OBJECTIVES 20 07 | Fit and change in the process Strategic and organisational fit Context Strategic Fit EXTERNAL INTERNAL Strategy STRATEGIC OBJECTIVES 21 07 | Fit and change in the process Strategic and organisational fit Context Strategic Fit EXTERNAL INTERNAL Strategy Organisation STRATEGIC OBJECTIVES 22 07 | Fit and change in the process Strategic and organisational fit Context Strategic Fit EXTERNAL INTERNAL Strategy Organisation STRATEGIC OBJECTIVES Organisational Fit 23  08 Approaches to Strategic Management & Toward a holistic view Ángel Araujo, Ph.D. [email protected] 24 08 | Approaches to Strategic Management & Toward a holistic view Approaches to Strategic Management Goal: to provide a coherent explanation for firm’s business success or failure in a global context 25 08 | Approaches to Strategic Management & Toward a holistic view Approaches to Strategic Management Challenge: Different approaches in the field, and all might be right 26 08 | Approaches to Strategic Management & Toward a holistic view Approaches to Strategic Management Rational approach Organisational approach How strategies should be formulated How strategic decisions are made Rational decision model Bounded rationality decision model Based on economic logic Based in Organisation Prescriptive nature Theory Descriptive nature 27 08 | Approaches to Strategic Management & Toward a holistic view Approaches to Strategic Management Rational approach Organisational approach How strategies should be formulated How strategic decisions are made Rational decision model Bounded rationality decision model Based on economic logic Based in Organisation Prescriptive nature Theory Descriptive nature 28 08 | Approaches to Strategic Management & Toward a holistic view Approaches to Strategic Management Rational approach Organisational approach How strategies should be formulated How strategic decisions are made Rational decision model Bounded rationality decision model Based on economic logic Based in Organisation Prescriptive nature Theory Descriptive nature Holistic approach Merging economic and organisational considerations Selecting the most interesting contributions 29 08 | Approaches to Strategic Management & Toward a holistic view A holistic approach to Strategic Management Rational Organisational approach approach Intended strategy Emergent strategy 30 08 | Approaches to Strategic Management & Toward a holistic view A holistic approach to Strategic Management Rational Organisational approach approach Holistic approach Intended strategy Emergent strategy Strategic Strategic formulation implementation 31 08 | Approaches to Strategic Management & Toward a holistic view A holistic approach to Strategic Management Rational Organisational approach approach Holistic approach Intended strategy Emergent strategy Strategic Strategic formulation implementation 32  09 Annex Ángel Araujo, Ph.D. [email protected] 33 09 | Annex Rationality Strategic Management process The adoption of a rational strategic decision- making process has certain major advantages Reality shows that this process does not always unfold in this manner, and its monitoring does not guarantee the strategy’s success Uncertainty Complexity Conflict 34 09 | Annex Next class: The Office of Strategy Management-The State of the Art, 2011 Many organizations throughout the world have already established an Office of Strategy Management (OSM). Palladium Group has worked with more than 70 organizations that have embraced the concept and adapted it to fit within their unique contexts, and through the Palladium Balanced Scorecard Hall of Fame, has learned of many more OSM implementations. In this article, Norton and Russell (who have worked extensively with OSMs) review the current state of the art of this management innovation, highlighting examples of noteworthy practices at Hall of Fame organizations. They also offer several suggestions about next-generation adaptations. 35 09 | Annex Next class: The Office of Strategy Management-The State of the Art, 2011 1. 9/19/2024 8:00:00 a. Having read the case b. Discuss it during the class c. Receive the case questions 2. 9/23/2024 8:00:00 a. Bring the answers printed (hard copy) b. Discuss your answers with the class 36  Ánge Thanks l Arauj Any doubts? ¡Gracias! Thanks! o, Danke! Ph.D. Merci! Grazie! 37