tailieunhanh - Lecture Essentials of strategic management: The quest for competitive advantage (4e) - Chapter 10

Chapter 10: Superior strategy execution – Another path to competitive advantage. The main goals of this chapter are to: Gain command of what managers must do to build an organization capable of good strategy execution, learn why resource allocation should always be based on strategic priorities, understand why policies and procedures should be designed to facilitate good strategy execution,. | Student Version 1 Crafting versus Implementing Strategy Crafting Strategy Market-and resource-driven activities Success depends on Attracting and pleasing customers Outcompeting rivals The firm’s collection of resources and capabilities Implementing Strategy Execution of operations-driven activities Successful depends on management’s ability to Direct change Allocate resources Build capabilities Build strategy-supportive policies and culture Deliver good results 2 2 Who Is Responsible for Implementation of the Chosen Strategy? The organization’s chief executive officer and other senior managers are ultimately responsible for ensuring that the strategy is executed successfully. It is middle and lower-level managers who must see to it that frontline employees and work groups competently perform strategy-critical activities that allow companywide performance targets to be met. Requires all managers thinking about: “What does my area have to do to implement its part of the strategic plan, and what should I do to get these things accomplished effectively and efficiently?” 3 Building an Organization with the Capabilities, People, and Structure Needed for Good Strategy Execution Staffing the organization’s workforce Structuring the organization and work effort Organization building actions Acquiring, developing, and strengthening strategy-supportive resources and capabilities Staffing the Organization— Building Managerial Talent Assembling a capable management team is a cornerstone organization-building task: Put people with strong strategy implementation skills and a results orientation in key managerial posts. Replace weak executives, strengthening the skills of those who remain, and bringing in fresh outsiders. Recruiting and Retaining a Capable Workforce The quality of a firm’s people is an essential ingredient of successful strategy execution. Staffing the right people at all levels is required to ensure competent performance of value chain activities. Find, . | Student Version 1 Crafting versus Implementing Strategy Crafting Strategy Market-and resource-driven activities Success depends on Attracting and pleasing customers Outcompeting rivals The firm’s collection of resources and capabilities Implementing Strategy Execution of operations-driven activities Successful depends on management’s ability to Direct change Allocate resources Build capabilities Build strategy-supportive policies and culture Deliver good results 2 2 Who Is Responsible for Implementation of the Chosen Strategy? The organization’s chief executive officer and other senior managers are ultimately responsible for ensuring that the strategy is executed successfully. It is middle and lower-level managers who must see to it that frontline employees and work groups competently perform strategy-critical activities that allow companywide performance targets to be met. Requires all managers thinking about: “What does my area have to do to implement its part of the strategic plan,

• Quản trị kinh doanh
• Strategic management
• Competitive advantage
• Crafting strategy
• Executing strategy
• Superior strategy execution
• Implementing strategy
• Ebook Strategic management for travel and tourism
• Strategic management for travel and tourism
• Strategic choices
• Strategic implementation
• Analysis in strategic management
• Strategic alliances in the airline industry
• Lecture Strategic management
• Strategic leadership
• Analyzing strategic management cases
• Knowledge management
• Competitive advantages
• Strategic management trade offs
• Bài giảng Quản trị chiến lược
• Key terms
• Strategic thinking development progress
• Comprehensive framework
• Stages of strategic management
• Strategic actions
• Strategic competitiveness
• Strategic management process
• Sustained competitive advantage
• Internal environment analysis
• Human capital moderate the relationship
• Strategic thinking and strategic human resource management
• Human capital to enhance strategic HRM
• Effectively benefit from strategic thinking
• Significant effect on strategic HRM
• Lecture Management the new competitive landscape
• Management the new competitive landscape
• Technology strategy
• Strategic management model
• Cooperative strategy
• Strategic alliances
• Managerial labor markets
• Strategic control
• Corporate governance
• Effective strategic leadership
• Ethical culture
• Learning organization
• Venture creation
• Corporate entrepreneurship
• Lecture Management
• The importance of strategic management
• The strategic management process
• Types of organizational strategies
• Explain why strategic management is important
• Internet strategies
• Competitor analysis
• External environmental analysis
• Business level strategy
• Competitive dynamics
• Competitive rivalry
• Corporate level strategy
• Corporate strategy
• Restructuring strategies
• Effective acquisitions
• International strategy
• International strategy lifecycle
• Managerial Ccontrol
• Organizational structure
• Functional structure
• Internal corporate venturing
• Strategic market management
• Lecture Strategic market management
• Quản lý thị trường chiến lược
• Strategic analysis
• Strategic groups