MGTA01H3 Lecture Notes - Lecture 10: Jargon, Wage War, Strategic Management

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25 Nov 2013
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Lecture 10- (ch 6 and 7) November 18
Not responsible for chapter 8, nor 9.
Strategy & Management
Strategy: a business must have a purpose
Leaders: people who set goals and directions
Leadership: communicating goals and direction
Mission: where are we going?
Environmental Analysis: where are we now?
In-Class Exercise: Create a personal strategy
“determining the organisation’s long term goals, and taking the actions necessary to
achieve those goals
Business is formed for a purpose
Sometimes, hard to see:
what the purpose is
how to accomplish that purpose
Businesses need leadership
When you’re a leader, you must turn to everyone as say “this is my vision.
This is the path we are on, and this is how you fit in, where we are going”
A “leader is: the individual who has the responsibility to determine an
organization’s path into the future.
Ghandi’s vision (Prime Minister): In a few years time, we will no longer be a
colony of the UK. We will become an independent public. By non-violent
passive-resistance. If you trust me and do as I say, we will attain freedom
from imperial control.
Nelson Mandela (president): in 10 years time, we will have majority rue. We
will not longer have apartheid.
Churchill (statesman): we’re going to win this war.
Leadership: The art of guiding or inspiring others to follow you into the
future
In politics, “leaders” become presidents, prime ministers and statesmen.
In business, the responsibility of leader-ship goes to the Board of Directors
and the CEO
i.e. People at the top of an organization
Why? They can see the big picture
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Leadership and strategy are the responsibility of the people at the top of an
organisation.
They can see the big picture.
Determining what needs to be done.
Showing people how they should act.
Showing them how they can contribute.
Getting them to want to….
Strategic management
Boils down to 3 key questions:
“Where are we going?”
“Where are we now?”
“How do we get there?”
Where are we going?
In business jargon, the term for “where are we going?” is called
“Mission”
Mission- Where are we going?
A clearly articulated mission:
Provides direction and guidance
Help a business allocate resources
Helps managers assess performance
(“Am I doing the right thing?”)
(“Is this helping us to go forward?”)
Mission: The “3 Cs”
If you want people to follow your lead, and work hard to achieve your common goal,
the mission must be:
Clear
Communicated
Credible
You ask, what is our policy?
It is to wage war, by sea, land and
air, with all our might and with all
the strength that God can give us;
You ask, what is our aim?
I can answer in one word: victory; victory at all costs, victory in spite of all terror,
victory, however long and hard the road may be.
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