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STRATEGIC

MANAGEMENT

Management by Results
Capstone
.
MD

C-suite: Marketing, Finance, Operations, HR,…

Senior

Middle

Operations
STRATEGIC MANAGEMENT
elements
planning

• Planning > future thinking.

• Planning > integrated decision making process

• Examples : Annual Budget


5 Year Plan
Perspective Plan
STRATEGIC Plan

• Examples : - PRSP
- MDG
- Vision 2021

Q1. What is the difference ?


Strategy

• Strategic Plan is a vision driven plan - an aspired


position to be attained at the end of plan period.

• Strategy is unique set of activities performed to


attain the vision.

• Strategic Plan is a long-term plan.


• Strategic Plan is a shared plan.
• Strategic Plan is a leader-driven plan.
Strategic management

• Strategic Management is a 5 step process;

1. Develop Vision statement


Planning 2. Develop Objectives of measurement
3. Craft Strategy to attain the vision

Managing 4. Follow through the Implementation


5. Evaluate the outcome
Strategic management
5 tasks

• The first 3 tasks i.e. Vision, Objective, Strategy


relate to Planning

• The last 2 tasks i.e. Implementation, Evaluation


relate to Management

• The total set of activities is Strategic Management.


• Strategic Management is Management by Results.
STRATEGIC PLANNING
3 questions to start with

• #1. Where we are now ?


: our current position

• #2. Where can we go ?


: the big picture
BHAG (big hairy audacious goal)

• #3. How do we propose to go ?


: the strategy
THE FRAMEWORK

• Hierarchical Process
– Top Down

• Diverse group of people make up the planning team

• Developed through open and free discussions


– Bottom Up

• The sharing of ideas forges commitment


- Shared Vision
PLANNING
An Iterative Process

• Ritual

• Habit

• Fail to Plan Plan to Fail


Strategic Plan

• It is a Long-term plan

• It is developed along a Vision

• Vision is the Destination


Strategic Plan

• Mission is the tasks performed to attain


vision

• Strategy is delivery through mission


attained