STRATEGIC MANAGEMENT: PHILOSOPHY

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STRATEGIC MANAGEMENT PHILOSOPHY PRACTICE
? ? Dr. WEI JIANG
???????? SCHOOL OF MANAGEMENT ZHEJIANG UNIVERSITY
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• Previous background
• Management fundamental theories
• operational management, finance,
• marketing, HRM, basic economics
• Assessment
• ---- final test
• ---- case report (including PowerPoint making)
• ---- written essay (including strategy design)
• ---- presentation
• ---- participation
• Necessary preparation
• Proofreading, teamworking, writing, etc
• More than 1/3 absentee, no qualification.
• Others

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Part I Introduction
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What is the strategy?
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1.5 Concept
Strategy is the direction and scope of an
organization over the long-term which achieves
advantage for the organization through its
configuration of resources within a
changing environment, to meet the needs of
markets and to fulfill stakeholder expectation.
(Johnson G. and Scholes K., (1999)
Exploring Corporate Strategy, 5th,
Prentice Hall)
Characteristics ----long-term direction ----advant
age ----scope of an organizations
activities ----match activities with
environment ----bounded rationality and resources
scarcity ----values and expectation
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1.6 Levels of strategy

• Level 1 Corporate strategy in concerned with the
  
• overall purpose and scope of the organization
  to meet the
• expectations of owners or major stakeholders
  and add
• value to the different parts of the
  enterprise.
• Level 2 Strategic business strategy is about
  how to
• compete successfully in a particular market
• Level 3 operational strategies are concerned
  with how
• the component parts of the organization in
  terms of
• resources, processes, people and their skills
  effectively
• deliver the corporate- and business-level
  strategies
• direction

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1.7 Vocabulary of strategy
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How strategies come about in practice?
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1.8 Strategic management in different context

• Large firms vs. Small firms
• Culture Orthodox
• Resource vs. Scope/span
• Managerial styles vs. Industry
• Employer vs employee
• Manager vs subordinate
• Headquarter vs. Subsidiary
• National vs. MNCs
• ...

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1.9 A Framework for Understanding Strategic
Management in Practice
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1.10 ???????????

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• Can do! (Opportunity)
• Should do! (Constraints)
• Be able to do! (Potentials)

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1.11 ???????

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