What is Strategy and Why is it so important?
- The role of business strategies, growing its business and improving its financial and market performance
- Approaches for setting FH apart from rivals and winning a sustainable competitive advantage
- The ongoing efforts of management to improve the company’s strategy because of changing circumstances
- Why the strategy of FH must be underpinned by a business model that produces revenues sufficient to cover costs and earn profits.
- Examining the three tests that distinguish a winning strategy from a so-so or flawed strategy
- FH developing good strategy making and execution are the most trustworthy signs of good management
- No Case Studies but in-depth discussions on The concepts of Strategic Management
Leading the Process of Crafting and Executing Strategy
- Why is it critical for FH managers to know where their company is heading and why
- The importance of FH managers setting strategic and Financial objectives
- Crafting a company strategy that will draw on the entrepreneurial talents of FH managers at all levels
- The strategic initiatives taken at all levels must be tightly coordinated by FH managers to achieve companywide performance targets
- What FH as a company must do to achieve operating excellence to execute its strategy proficiently
- The process for FH to have the strategic management process to be ongoing
- The leadership skills that FH management must exhibit to drive strategy execution forward
- FH role and responsibility of directors in overseeing the strategic management process
Evaluating a Company’s External Environment
- The basic concepts and analytical tools used to diagnose FH’s competitive conditions
- Factors that cause competition in FH’s industry to be fierce, more or less normal, or relatively weak
- Determining whether FH’s outlook presents sufficiently attractive opportunities for growth and profitability.
- Each person developed their own vision & mission statements which were consolidated and discussed the following day
Evaluating a company’s Resources and Competitive position
- How well is FH’s present strategy working?
- What are the company’s resource strengths and weaknesses, and its external opportunities and threats?
- Are FH’s prices and costs competitive in the marketplace
- Is FH competitively stronger or weaker than key rivals?
- What strategic issues and problems merit front-burner managerial attention?
A complete SWOT analysis was completed
The five Generic competitive Strategies Which one to employ?
Tom Merril case study was analysed and discussed in detail by those who had worked on it
- How these competitive strategies lead to competitive advantage and deliver superior value to customers
- Why some strategies work better than others
- The advantage of lower costs
- Developing a competitive advantage
- The Company’s objectives together with the Company Values were completed
Supplementing the Chosen Competitive Strategy
Their major competitor is Magna Carta
- Whether entering into strategic alliances and/or partnerships can enhance a company’s competitive capabilities and resource strengths
- Being aware of strategic benefits of mergers and acquisitions
- Whether to integrate backward or forward into more stages of the industry value chain
- Which value chain activities should be outsourced
- Recognize how and why different types of market situations shape business strategy choices
- When to undertake strategic moves – whether it is advantageous to be a first-mover or a fast-follower or a late-mover
Strategies for managing a group of businesses
- Understand when and how business diversification can enhance shareholder value
- How related diversification strategies can produce cross-business strategy capable of delivering competitive advantage
- Gain command of the analytical tools for evaluating a company’s diversification strategy
- FH’s five main corporate strategy options after diversification.
Ethical Business Strategies Social Responsibility, and Environmental sustainability
- Understand why business conduct is judged according to the ethical standards of society at large rather than a special set of ethical standards for businesses only.
- Understanding the principle drivers of unethical strategies and business behavior
- Learn why unethical business conduct can be very costly for a company’s shareholders
- The various approaches to managing a company’s ethical conduct
- Concepts of corporate social responsibility, corporate citizenship and environmental sustainability
- Moral and ethical business conduct and socially responsible business behavior
Building an Organization capable of Good Strategy Execution
- What managers must do to promote successful strategy execution
- Good strategy execution requires astute managerial actions to build core competencies and competitive capabilities
- Why strategy-critical activities should be the main building blocks of the organizational structure
- Pro’s and con’s of centralized and decentralized decision making
Managing Internal Operations: Actions that Promote Good Strategy Execution
- Why resource allocation should always be based on strategic priorities
- Policies and procedures should be designed to facilitate good strategy execution
- Why and how bench-marking, best-practices adoption, and tools for continuously improving the performance of value chain activities help and organization achieve operating excellence and superior strategy execution
- The role of information and operating systems I enabling company personnel to carry out their strategic roles proficiently
- We-designed incentives and rewards can be management’s single most powerful tool for promoting proficient strategy execution and operating excellence