Welcome to Strategic Management with Professor Rust

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Welcome to Strategic Management with Professor
Rust

• Please choose a seat you think you would like for
  the entire semester
• Sign the Completion of Prerequisites Form
• Look over and discuss the Syllabus
• Introduction to the Course
• Overview of Strategic Management

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Successful students in this course will

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STRAT . E . GY (strat e je) n., pl. -ties
Gr. stratos, army
agein, to lead 1. orig. the art of the
general 2. the science of planning and
directing military operations
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Strategic Management

• Consists of the analysis, decisions, and actions
  an organization undertakes in order to create and
  sustain competitive advantages.
• Why do firms outperform others?
• How do firms outperform others?

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Three Ongoing Processes

• Analysis The Strategic Goals
• Vision
• Mission
• Objectives
• Internal and External Environments
• Decisions Corporate Leaders
• What industry(ies)?
• How do we compete?
• Actions Implementing Strategies
• Allocation of resources
• Organizational design

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Deliberate and Emergent Strategies
Intended Strategy
Deliberate Strategy
Realized Strategy
Unrealized Strategy
Emergent Strategy
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Four Key Attributes

• Directs overall organizational goals
• Decision makers consider stakeholder needs
• Consider long-term and short-term perspectives
• Recognizes trade-offs between efficiency and
  effectiveness

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Hierarchy of Strategy
Corporate-Level What business to be in
Business-Level How to compete in that business
Functional-Level How best can each function
support the business-level strategy
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Groups who are affected by a firms performance
and who have claims on its performance
Stakeholders
The firm must maintain performance at an adequate
level in order to maintain the participation of
key stakeholders
Capital Market
Firm
Product Market
Organizational
Owners Board of Directors Employees Managers Non-M
anagers
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Social Responsibility

• Strives to improve the overall welfare of
  society.
• Actions taken by the business are for the
  betterment of society.
• Use of triple bottom line accounting model
• financial capital and measures
• ecological and material capital
• human and social capital

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New Competitive Landscape
The pace of change is relentless.... and
increasing
Traditional industry boundaries are
blurring...such as
Computers
Telecommunications
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New Competitive Landscape
The global economy is changing
Traditional sources of competitive advantage no
longer guarantee success
People, goods, services and ideas move freely
across geographic boundaries
New keys to success include
New opportunities emerge in multiple global
markets
Flexibility
Innovation
Markets and industries become more
internationalized
Speed
Integration
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Specialized Bicycle Components

• What is SBCs mission statement?
• What are SBCs overall goals?
• What is SBCs motto?
• How does SBC display social responsibility?

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Specialized Bicycle Components

• What is SBCs mission statement?
• To provide the best ride possible to a wide
  section of riders
• What are SBCs overall goals?
• Customer Service
• Quality
• Innovation
• Teamwork
• Profitability

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Specialized Bicycle Components

• What is SBCs motto?
• Innovate or Die!
• How does SBC display social responsibility?
• Weighs needs of stakeholders
• sponsorships
• wilderness access campaigns

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Write on the Information Card

• Name
• Phone Number
• City/town where you live during the week
• E-mail
• Major
• Your ideal job
• On the back tell me
• What you want to learn in this class.
• The grade you wish to earn.