Chapter 8 STRATEGIO ROB B INS COULTER MANAGEMENT ©Prentice Hall,2002 8-1
Chapter 8 STRATEGIC MANAGEMENT © Prentice Hall, 2002 8-1
Learning Objectives You should learn to: Explain the importance of strategic management Describe the steps in the strategic management process Explain SWOT analysis Differentiate corporate-,business-,and functional-level strategies Explain what competitive advantage is and why it's important to organizations ©Prentice Hall,.2002 8-2
Learning Objectives You should learn to: – Explain the importance of strategic management – Describe the steps in the strategic management process – Explain SWOT analysis – Differentiate corporate-, business-, and functional-level strategies – Explain what competitive advantage is and why it’s important to organizations © Prentice Hall, 2002 8-2
Learning Objectives (cont. You should learn to: -Describe the five competitive forces Identify the various competitive strategies ©Prentice Hall,.2002 8-3
Learning Objectives (cont.) You should learn to: – Describe the five competitive forces – Identify the various competitive strategies © Prentice Hall, 2002 8-3
The Importance Of Strategic Management What Is Strategic Management? -A set of managerial decisions and actions that determines the long-run performance of an organization Purposes of Strategic Management - involved in many decisions that managers make companies with formal strategic management systems have higher financial returns than companies with no such system important in profit and not-for-profit organizations ©Prentice Hall,2002 8-4
The Importance Of Strategic Management What Is Strategic Management? – A set of managerial decisions and actions that determines the long-run performance of an organization Purposes of Strategic Management – involved in many decisions that managers make – companies with formal strategic management systems have higher financial returns than companies with no such system – important in profit and not-for-profit organizations © Prentice Hall, 2002 8-4
The Strategic Management Process Analyze the deni the environment. oppoitunities and threats. dentifythe organization's SWOTAnalysis Formulate mplement Evaluate current mission, strategs strateg results. biv,and strategis. Analyze the denti organization's → strngand resources. weaknesses. ©Prentice Hall,2002 8-5
The Strategic Management Process © Prentice Hall, 2002 8-5