Downloaded 573 times
More Related Content
![Csac17[1].p](https://cdn.slidesharecdn.com/ss_thumbnails/csac171-p-110520053148-phpapp01-thumbnail.jpg?width=640&height=640&fit=bounds)
Similar to Strategic management & entrepreneurship[ppt]
Strategic management & entrepreneurship[ppt]
- 1. Strategic Management &the Entrepreneur Essentials of Entrepreneurship & Small Business Management (section 2: Building the Business Plan: Beginning Considerations) Tomas W. Zimmerer & Norman M. Scarborough Presented By Samin Saghafi 83/6/28
- 2. Key words: • Strategic management • Mission • Goals & objectives • Competitive advantage • SWOT
- 3. Overview: • Why competitive advantage • Create a strategic plan • Meaningful mission statement • Company’s SWOT • Meaningful goals and objectives • Strategic alternatives
- 4. Technological Change 85=15 !?
- 5. Why Strategic Management? Entrepreneur Strategic Management Strategic Management involves developing a game plan to guide a company as it strives to accomplish its mission, goals, and objectives, and to keep it on its desired course.
- 6. Competitive Advantages: Aggregation of factors that sets a company apart from its competitors and gives it a unique position in the market.
- 7. Plan Unique Image Create Potential Customers
- 8. Small business ‘sStrategic management Procedure • Use a short planning • Be informal • Encourage the participation of employees • Do not begin with setting objectives • Focus on strategic thinking
- 9. Strategic Management Process 1. Develop a clear vision and translate it into a meaningful mission statement 2. Define the firm’s core competencies and the market segment 3. Assess the company’s strengths and weaknesses 4. Investigate environment opportunities and threats
- 10. Strategic Management Process 5. Identify the key factors for success in the business 6. Analyze the competition 7. Create company goals and objectives 8. Formulate strategic options 9. Translate strategic plan into action plans 10. Establish accurate controls
- 11. 1. Develop aclear vision … • Vision • Mission • Elements of a mission statement • To write a powerful mission
- 12. Vision • Is based on value • Values are like organizational DNA • Tell people how to act • The picture that leaps into your mind when you close your eyes and dreams about what you want your organization to become.
- 13. Vision Respect for the individual and innovation to creating satisfied Marketing the world customers a better place Entrepreneurs:
- 14. mission • What businessam I in? • Why we are here? Where we are going? • Why an organization is, why it exists?
- 15. Elements of aMission Statement • Basic beliefs and values • Target customers • Basic products and services • Better satisfy • Constitutes value • Competitive advantages • Market segments • Key stakeholders
- 16. To write apowerful mission statement • Keep it short • Keep it simple • Get everyone involved • Keep it current • Reflects the values • Best effort • Reflects a concern for the future • Positive and upbeat • Other company’s mission statement • Use it
- 17. 2. Define thefirm’s core competencies … • Core competencies • Creating your companies’ Core competencies • Market segmentation • Positioning
- 18. Core competencies A uniqueset of capabilities that a company develops in key operational areas that allow it to vault past competitors. small company large company
- 19. Creating your companies’ Core competencies • Customers • Customers’ characteristics • Buying our goods • Increase or decrease purchases • Competitors
- 20. Market segmentation Carving upthe mass market into smaller, more homogeneous units and then attacking each segment with a specific marking strategy.
- 21. Positioning Influencing customers’ perceptions tocreate the desired image for the business and its goods and services.
- 22. 3. Assess thecompany’s strengths and weaknesses • Strengths • Weaknesses
- 23. 4. Investigate environment opportunitiesand threats • Opportunities • Threats
- 24. 5. Identify thekey factors for success in the business Key success factors: • Market share • Price competitiveness • Financial strength • Product quality • Customer loyalty
- 25. 6. Analyze thecompetition • Competitor analysis • Competitive profile matrix
- 26. Competitor analysis Update yourknowledge of competitors: • Major competitors • Cost structure • New competitors • Competitors’ key strategies • Strengths and weaknesses • Customers view
- 27. Competitor analysis Update yourknowledge of competitors (using-low cost methods): • Read trade publications • Ask customers & suppliers • Talk to employees • Attend trade shows • Buy their products • WWW
- 28. Competitive profile matrix A tools that allows a business owner to evaluate his company against major your competitors you competitors on the key success factor for that market.
- 29. 7. Create companygoals and objectives • Targets importance • Goals • Objectives
- 30. Targets importance that dependsdepends…. that …. Which way … which way …
- 31. Goals • The broad,long range attributes that a business seeks to accomplish; they tend to be general and sometimes even abstract.
- 32. Objectives • Specific • Measurable • Attainable • Realistic & Challenging • Timely • Written down
- 33. 8. Formulate strategicoptions • Strategy • Competitive strategy: » Cost leadership » Differentiation » Focus
- 34. Strategy • A roadmap of the tactics and actions an entrepreneur draws up to fulfill the firm’s mission, goals, and objectives.
- 35. Cost leadership • Astrategy in which a company strives to be the lowest-cost producer relative to its competitors in the industry.
- 36. Differentiation A strategy inwhich a company seeks to build customer loyalty by positioning its goods or services in a unique or different fashion.
- 37. Focus A strategy inwhich a company selects one (or more) segments of a market, identifies their special needs, wants, and interest, and offers them a good or service designed to excel in meeting those needs, wants, and interest.
- 38. 9. Translate strategicplan into action plans • Purpose • Scope • Contribution • Resource requirement • Timing
- 39. 10. Establish accuratecontrols Planning without control has little operational value a planning program requires a practical control process
- 40. Conclusion • Why competitive advantage • Create a strategic plan • Meaningful mission statement • Company’s SWOT • Meaningful goals and objectives • Strategic alternatives
- 41. Thanks for your attention