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What is an organization's mission?
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- the organization's reason for existence, the overall goal of a company- describes the organization's visions, shares values/beliefs and reason for being- also known as official goals- mission statement communicates to current and prospective employees, customers, investors, suppliers, and competitors what the organization stands for and what it is trying to achieve
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What are operative goals?
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Defined: description of the ends sought through the actual operating procedures of the organization; these explain what the organization is trying to accomplish.Looks at: overall performance, resources, market, employee development, innovation & change, productivity.
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Why are goals important?
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Official goals provide legitimacy and operative goals give employee direction & motivation, decision guidelines and the standard of performance.
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What is a strategy?
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A plan for interacting with the competitive environment to achieve organizational goals.
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What is the 5 forces model?
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 See image. |
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Describe Porter's Competitive Strategies.
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 See image. |
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Describe differentiation in terms of Porter's competitive strategies.
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- competitive advantage: uniqueness, competitive scope: broad- organizations attempt to distinguish their products or services from others in the industry- strategy usually targets customers who are not particularly concerned with price
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Describe low-cost leadership in terms of Porter's competitive strategies.
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- competitive advantage: low cost, competitive scope: broad- tries to increase market share by emphasizing low cost compared to competitors- organization aggressively seeks efficient facilities, pursues cost reduction, and uses tight controls to produce products or services more efficiently than its competitors
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Describe focus in terms of Porter's competitive strategies.
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- Focused low-cost leadership (competitive advantage: low cost, competitive scope: narrow)- Focused differentiation (competitive advantage: high uniqueness, competitive scope: narrow)- organization concentrates on a specific regional market or buyer group
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Name the 4 parts of Miles & Snow's Strategy Typology.
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- Prospector- Defender- Analyzer- Reactor
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Describe the Prospector part of the Miles & Snow Strategy Typology.
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- learning orientation; flexible, fluid, decentralized structure- strong capability in research- values creativity, risk-taking and innovation
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Describe the Defender part of the Miles & Snow Strategy Typology.
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- efficiency orientation; centralized authority and tight cost control- emphasis on production efficiency, low overhead- close supervision; little employee empowerment
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Describe the Analyzer part of the Miles & Snow Strategy Typology.
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- balances efficiency and learning; tight cost control with flexibility and adaptability- efficient production for stable product lines; emphasis on creativity, research, risk-taking for innovation
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Describe the Reactor part of the Miles & Snow Strategy Typology.
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- no clear organizational approach; design characteristics may shift abruptly depending on current needs
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What are the 3 questions that a strategic review addresses?
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1. Do the operations support the achievement of the goals?2. Do the goals support the achievement of the strategy?3. Does the strategy support the attainment of the mission?
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