Sept 11 - Strategy Lecture Notes from Chapter 1-7

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Department
Management and Organizational Studies
Course
Management and Organizational Studies 4410A/B
Professor
Raymond Leduc
Semester
Fall

Description
Chapter 1 – Strategy 9/11/2012 10:13:00 AM Strategic Management – Defined Art & Science of formulating, implementing, and evaluating (earnings per shares…etc), cross-functional decisions that enable an organization to achieve its objectives  Think about how implementation affects your performance  How do you affect earnings per share? Unless your earnings went up  Other criteria Stock price, credit rating, image rating ART: innovation, creativity, experience, inspiration SCIENCE: marketing research, tactics, ratio analysis, logistics, operations Strategy Formulation  Vision & Mission  External Opp & Threats  Internat  Longer term  Alternative strategy  Strategy selection Achieving Sustained Competition Advantage 4 measures to define advantage: hard to copy, better to customers, durable, exploitable 1. Continually adapting to changes in external trends and events and internal capabilities, competencies, and resources 2. Effectively formulating, implementing, and evaluating strategies that capitalize on those factors Vision and Mission Statements  For every case we look at, we evaluate this first o Vision statement: what do we want to become? Mission statement: What is your business?  Are you in the stuff business or the experience business? Team F  Merisa Cawker 30900-RLC-F  Catherine Dowhanick 30900-RLC-F  Heather Peng 30900-RLC-F 226 926 0247  Rena Yik Chiu 30900-RLC-F 647 462 9318 Strategy Game Tips Imagery: Corporate social responsibility, domination - investments are cumulative internet: if you don’t want internet sales, just block the orders Chapter 2 Mission & Vision 9/11/2012 10:13:00 AM - Clear Business Vision: what we aspire to become - comprehensive mission statement – what we do; what business we are in Difference between slogan and mission Walmart: Walmart. Always low prices. Always” Mission Statement: “Walmart’s mission is to help people save money so they can live better”  It is a blend of mission and vision Western provides the best student experience among Canada’s leading research-intensive universities Chapter 3 9/11/2012 10:13:00 AM External Opportunities - adjust with time and money to access opportunities Industrial Organization View  Industry factors are more important than internal factors  Oil prices affect oil companies the most  Performance determined by industry forces The Five Forces Model of Competition - Michael porter - used to evaluate industry attractiveness - the more attractive it is, the more money you make  ex: Pepsi, North American Soft drink industry 1. Bargaining power of consumer: power comes from lots of choices, contracts with mcdonalds, easy to switch between choices 2. Intermediaries: grocery places have power for placement of the products; what about COSCO? They make money only from memberships 3. Potential development of substitute products: juice, water, tea, coffee 3. Rivalry among competing firms a. Coke vs Pepsi is a 100 year war 4. Potential entry of new competitors a. Low threat, barriers to entry, manufacturing sector very difficult to go in, not enough marketing budget to fight with 5. Bargaining power of suppliers a. Low, sugar like commodity can be easily replaced, only two players in the industry Chapter 4
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