Introduction to Strategic Management

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Introduction to Strategic Management
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One Definition of Strategy

• Strategy is about positioning an organization for
  sustainable competitive advantage. It involves
  making choices about which industries to
  participate in, what products and services to
  offer, and how to allocate corporate resources to
  achieve a sustainable competitive advantage. And
  its primary goal is to create value for
  shareholders and other stakeholders by providing
  customer value (de Kluyver, 2000).

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One Definition of Strategic Management

• Strategic management is that set of managerial
  decisions and actions that determine the long-run
  performance of a corporation (Hunger and Wheelen,
  2002)

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Motifs

• motif     P   Pronunciation Key  (m -t f )n.
• 1.
• A recurrent thematic element in an artistic or
  literary work.
• A dominant theme or central idea.
• 2. Music. A short rhythmic or melodic passage
  that is repeated or evoked in various parts of a
  composition.
• 3. A repeated figure or design in architecture or
  decoration. See Synonyms at figure.
• French, from Old French, motive. See motive.

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Motif 1 Do the right thing
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Motif 2 Models and Frameworks

• gravity causes all objects to accelerate downward
  at a constant rate of g 9.81 (m/sec)/sec.
• E(Ri) Rf E(RM)- Rf ßi
• Long-Run Corporate Performance F(x, y, z)

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Motif 3 Action and Reaction

• Sports Announcer
• Jordan is hot tonight. He is calling for the
  ball and from the look in his eyes he is feeling
  it. His season shooting average is 46. He has
  made 9 of his last 10 shots, and 5 in a row.
• What is the probability that Jordan will make his
  next shot?

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Motif 3 Action and Reaction
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Motif 4 Leadership Matters

• When we let freedom ring, when we let it ring
  from every village and every hamlet, from every
  state and every city, we will be able to speed up
  that day when all of God's children, black men
  and white men, Jews and Gentiles, Protestants and
  Catholics, will be able to join hands and sing in
  the words of the old Negro spiritual, "Free at
  last! free at last! thank God Almighty, we are
  free at last!"

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Motif 5 People Matter

• Willy Loman You cant eat the orange and throw
  the peel awaya man is not a piece of fruit.

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Motif 6 Learn by Doing