tailieunhanh - Lecture Strategic management (7/e): Chapter 9 - Dess, Lumpkin, Eisner, McNamara

After reading this chapter, you should have a good understanding of the following learning objectives: The role of opportunities, resources, and entrepreneurs in successfully pursuing new ventures; three types of entry strategies - pioneering, imitative, and adaptive - commonly used to launch a new venture; how the generic strategies of overall cost leadership, differentiation, and focus are used by new ventures and small businesses;. | Strategic Control and Corporate Governance chapter 9 Strategic Control Strategic control involves monitoring performance toward strategic goals and taking corrective action when needed via effective systems: Informational control systems Behavioral control systems Corporate governance 9- Strategic control = the process of monitoring and correcting a firm’s strategy and performance. An organization does a strategic analysis of the external environmental conditions, evaluates its internal capabilities for responding to those conditions, formulates a strategy for sustaining a competitive advantage, and then implements this strategy. Once implemented, this strategy must be monitored and adjusted as needed. Effective strategic control systems allow for corrective action to be taken. Strategic Control: Traditional Approach The traditional approach to strategic control is sequential Strategies are formulated, goals are set Strategies are implemented Performance is measured against . | Strategic Control and Corporate Governance chapter 9 Strategic Control Strategic control involves monitoring performance toward strategic goals and taking corrective action when needed via effective systems: Informational control systems Behavioral control systems Corporate governance 9- Strategic control = the process of monitoring and correcting a firm’s strategy and performance. An organization does a strategic analysis of the external environmental conditions, evaluates its internal capabilities for responding to those conditions, formulates a strategy for sustaining a competitive advantage, and then implements this strategy. Once implemented, this strategy must be monitored and adjusted as needed. Effective strategic control systems allow for corrective action to be taken. Strategic Control: Traditional Approach The traditional approach to strategic control is sequential Strategies are formulated, goals are set Strategies are implemented Performance is measured against goals 9- Exhibit Traditional Approach to Strategic Control Traditional approach to strategic control = a sequential method of organizational control in which (1) strategies are formulated and top management sets goals, (2) strategies are implemented, and (3) performance is measured against the predetermined goal set. Strategic Control: Contemporary Approach Relationships between strategy formulation, implementation, & control are highly interactive, utilizing Informational control Behavioral control 9- Exhibit Contemporary Approach to Strategic Control The contemporary approach to strategic controls allows managers to adapt to and anticipate changes in both the internal and external environment. The relationships between strategy formulation, implementation, and control are highly interactive. This approach utilizes two different types of strategic control: informational control and behavioral control. Informational control = a method of organizational control in .