Chapter 3 strategic Management

Quizz

The thinking Phase. The clean, analytical phase of developing long rage plans . Involves using framework like PASTEL and VRIO to assess the environment and companies capabilities before taking an action.

Formulation

The Doing Phase . The messy real world phase where abstaract startegies collides wit human reality, budgets and organizational behaviour . This is where plans turned into action.

Implementation

What are the Three Stages Model?

Strategy Formulation, Strategy Evaluation, Strategy Implementation

Who’s model is the Three Stages?

David’s Model

These framework help you understand the whole outside your company, identifying the Opportunities and Threats

External Analysis

These framework help you look in the mirror to fin your internal Strengths and Weaknesses.

Internal Analysis

Analyzes micro- environemental factors ( Political, Economic, Social, Technological, Environmental, Legal

PESTEL

Identiffies core competencies by asking if teh resource is Valuable, Rare, Imitable, and Organized.

VRIO Framework

Breaks down all internal activities to see where you can reduce cost or add more value.

Value Chain Analysis

Ultimate summary, synthesizing all the external and internal analysis into four quadrants. It provides a clear snapshot of current startegic position

SWOT

is the vital nervous sytem that connects the enterprise back to reality, enabling learning and preventing strategic drift.

Feedback loop

Fixing the Action. When you miss a target, you tweak your tactics or implementation to get back on track. The underlying startegy is never questioned

Single Loop Learning

Fxing the Plan. When feedback shows the underlying startegy itself is flawed, you questioned our basic assumptions and restart the formulation process.

Double Loop Learning

The Heartbeat of Strategy

Formulation, evaluation, Implementation

The safety filter. reviewing foundational factors and measuring performance before.

Evaluation

The intellectual phase. Developing long-range plans.

Formulation

The action phase. Programs, budgets, and procedures.

Implementation

Three levels of Strategic

Corporate, Business, Functional

Which industries to enter?

Corporate

How to beat specific business rivals?

Business

How departments supports the mission

Functonal