Strategic Management for Logistics and Supply Chain
•Part 1: Strategic Management Concept/Process
By อ. สุทธิพงษ์ มีใย
•Part 2: Strategic Management Techniques
By อ. สุธาทิพย์ ภู่บุบผาพันธ์
Strategic Management Process
•Main text by GoSave" style="border: none !important; display: inline-block !important; text-indent: 0px !important; float: none !important; font-weight: bold !important; height: auto !important; margin: 0px !important; min-height: 0px !important; min-width: 0px !important; padding: 0px !important; text-transform: uppercase !important; text-decoration: underline !important; vertical-align: baseline !important; width: auto !important; background: transparent !important;">book, part 1:
Strategic Management, Concepts &Cases, Competitiveness and Globalization, 8th Edition by Michael A. Hitt, R. Duane Ireland, Robert E. Hoskisson
•Link to files: http://goo.gl/R3ntre
Assessment
Attendance, Homework and Assignment 20%
Mid-term 40%
Final 40%
A >= 80.0
B+ 75.0 – 79.99
B 70.0 – 74.99
C+ 65.0 – 69.99
C 60.0 – 64.99
D+ 55.0 – 59.99
D 50.0 – 54.99
F <= 50.0
Strategic Management and Strategic Competitiveness
Study outcome
1.Define strategic competitiveness, strategy, competitive advantage, above-average returns, and the strategic management process.
2.Describe the competitive landscape and explain how globalization and technological changes shape it.
3.Use the industrial organization (I/O) model to explain how firms can earn above-average returns.
Strategic Management and Strategic Competitiveness
Study outcome
4.Use the resource-based model to explain how firms can earn above-average returns.
5.Describe vision and mission and discuss their value.
6.Define stakeholders and describe their ability to influence organizations.
7.Describe the work of strategic leaders.
8.Explain the strategic management process.
Strategic Competitiveness
•Strategic competitiveness is achieved when a firm successfully formulates and implements a value-creating strategy.
•A strategy is an integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage.
Strategic Competitiveness
•A firm has a competitive advantage when it implements a strategy competitors are unable to duplicate or find too costly to try to imitate.
•Example Apple Ads
•Alternative competitive advantage. Clip
•Above-average returns are returns in excess of what an investor expects to earn from other investments with a similar amount of risk.
•Risk is an investor’s uncertainty about the economic gains or losses that will result from a particular investment.
Strategic Competitiveness
•Average returns are returns equal to those an investor expects to earn from other investments with a similar amount of risk.
•The strategic management process is the full set of commitments, decisions, and actions required for a firm to achieve strategic competitiveness and earn above-average returns.
•How to develop competitive advantage. Clip
The Strategic Management Process
Strategy ImplementationStrategy FormulationVisionMissionBusiness-Level StrategyThe ExternalEnvironmentThe InternalOrganizationCompetive Rivalry and Competitive DynamicsCorporate-Level StrategyAcquisition and Restructuring StrategiesInternational StrategyCooperative StrategyCorporate GovernanceOrganizationalStructure andControlsStrategicLeadershipStrategicEntrepreneurshipStrategicCompetitivenessAbove-AverageReturnsStrategic InputsStrategic ActionsStrategic Outcomes
Case study: Boeing and Airbus
•Read the given document.
•In pair, discuss this case:
Who wins Boeing vs Airbus?
Who has a better strategic plan? VS
Boeing 787
Airbus A380
The Competitive Landscape
•Conventional sources of competitive advantage such as economies of scale and huge advertising budgets are not as effective as they once were.
•Managers must adopt a new mind-set that values flexibility, speed, innovation, integration, and the challenges that evolve from constantly changing conditions.
The Competitive Landscape: The Global Economy
•A global economy is one in which goods, services, people, skills, and ideas move freely across geographic borders.
•Globalization is the increasing economic interdependence among countries and their organizations as reflected in the flow of goods and services, financial capital, and knowledge across country borders.
•Globalization also affects the design, production, distribution, and servicing of goods and services.
The Competitive Landscape: The Global Economy
•It is important for firms to understand that globalization has led to higher levels of performance standards in many competitive dimensions, including those of quality, cost, productivity, product introduction time, and operational efficiency.
“It took the telephone 35 years to get into 25 percent of all homes in the United States. It took TV 26 years. It took radio 22 years. It took PCs 16 years. It took the Internet 7 years.”
The Competitive Landscape: Technology and Technological Changes
•Technology Diffusion and Disruptive Technologies.
–When products become somewhat indistinguishable because of the widespread and rapid diffusion of technologies, speed to market with innovative products may be the primary source of competitive advantage
Example RFID in Logistics
The Competitive Landscape: Technology and Technological Changes
•Technology Diffusion and Disruptive Technologies.
–Disruptive technologies—technologies that destroy the value of an existing technology and create new markets—surface frequently in today’s competitive markets.
•The Information Age. Google Example
The Competitive Landscape: Technology and Technological Changes
•Increasing Knowledge Intensity.
–In the competitive landscape of the twenty-first century, knowledge is a critical organizational resource and an increasingly valuable source of competitive advantage.
–Indeed, starting in the 1980s, the basis of competition shifted from hard assets to intangible resources.
The Competitive Landscape: Technology and Technological Changes
•Increasing Knowledge Intensity.
–Strategic flexibility is a set of capabilities used to respond to various demands and opportunities existing in a dynamic and uncertain competitive environment.
–Strategic flexibility involves coping with uncertainty and its accompanying risks.
–Firms should try to develop strategic flexibility in all areas of their operations.
The I/O Model of Above-Average Returns
•The industrial organization (I/O) model of above-average returns explains the external environment’s dominant influence on a firm’s strategic actions.
•The firm’s performance is believed to be determined primarily by a range of industry properties, including economies of scale, barriers to market entry, diversification, product differentiation, and the degree of concentration of firms in the industry.
The I/O Model of Above-Average Returns
1.Study the external environment, especially the industry environment.
2.Locate an industry with high potential for above-average returns.
3.Identify the strategy called for by the attractive industry to earn above-average returns.
The External Environment - The general environment - The industry environment - The competitor environment An Attractive Industry - An industry whose structural characteristics suggest above-average returns Strategy Formulation - Selection of a strategy linked with above-average returns in a particular industry
The I/O Model of Above-Average Returns (Cont.)
4.Develop or acquire assets and skills needed to implement the strategy.
5.Use the firm’s strengths (its developed or acquired assets and skills) to implement the strategy.
Assets and Skills - Assets and skills required to implement a chosen strategy Strategy Implementation - Selection of strategic actions linked with effective implementation of the chosen strategy Superior Returns - Earning of above-average returns
The Resource-Based Model of Above-Average Returns
•Resources are inputs into a firm’s production process, such as capital equipment, the skills of individual employees, patents, finances, and talented managers.
•A capability is the capacity for a set of resources to perform a task or an activity in an integrative manner.
•Capabilities evolve over time and must be managed dynamically in pursuit of above-average returns.
The Resource-Based Model of Above-Average Returns
•Core competencies are capabilities that serve as a source of competitive advantage for a firm over its rivals.
•Not all of a firm’s resources and capabilities have the potential to be the basis for competitive advantage.
•This potential is realized when resources and capabilities are valuable, rare, costly to imitate, and non-substitutable.
The Resource-Based Model of Above-Average Returns
1.Identify the firm’s resources. Study its strengths and weaknesses compared with those of competitors.
2.Determine the firm’s capabilities. What do the capabilities allow the firm to do better than its competitors?
3.Determine the potential of the firm’s resources and capabilities in terms of a competitive advantage.
Resources - Inputs into a firm’s production process Capability - Capacity of an integrated set of resources to integratively perform a task or activity Competitive Advantage - Ability of a firm to outperform its rivals
The Resource-Based Model of Above-Average Returns (Cont.)
4.Locate an attractive industry.
5.Select a strategy that best allows the firm to utilize its resources and capabilities relative to opportunities in the external environment.
An Attractive Industry - An industry with opportunities that can be exploited by the firm’s resources and capabilities Strategy Formulation and Implementation - Strategic actions taken to earn above- average returns. Superior Returns - Earning of above-average returns
Vision and Mission
•Vision is a picture of what the firm wants to be and, in broad terms, what it wants to ultimately achieve.
•Vision is “big picture” thinking with passion that helps people feel what they are supposed to be doing in the organization.
•A vision statement tends to be relatively short and concise, making it easily remembered.
•How to write a vision statement. Clip
มหาวิทยาลัยแห่งการสร้างสรรค์นวัตกรรม
“Our vision is to be the world’s best quick service restaurant.”
McDonald’s
(Ford Motor Company’s
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