Professional Documents
Culture Documents
Management
Overview
Why do some firms succeed while others fail?
A central objective of strategic management is to learn
why this happens.
What is strategy?
An action a company takes to attain superior
performance.
Company
Experiences,
Know-how,
Resource
Strengths and
Weaknesses,
and
Competitive
Capabilities
Aba
ra
t
s
d
e
ndon
res
u
t
a
e
f
t egy
Planned Stra
tegy
New initiative
s plus ongoin
g
strategy featu
res continued
from
prior periods
Actual Company
Strategy
ging
n
a
h
c
s to
n
o
i
t
c
a
e re
v
i
t
p
a
d
A
nces
a
t
s
m
u
circ
e Stra
Reactiv
tegy
Social,
political,
regulatory and
community
factors
Competitive
conditions and
industry
attractiveness
Company
opportunities
and threats to
companys
well-being
Resource
strengths,
capabilities,
and
weaknesses
Influences of
key executives
Shared values
and company
culture
External Factors
Determine
relevance
of internal
and
external
factors
Identify and
evaluate
alternatives
Craft
the
strategy
Internal Factors
Strategic Management
Set of decisions and actions that result to the
formulation and implementation of plans
designed to achieve a companys objectives
Study of why and how some firms
outperform others
Benefits of Strategic
Management
Risks of Strategic
Management
What is Formality?
The degree to which participation,
responsibility, authority, and discretion in
decision-making are specified in strategic
management.
Entrepreneurial Mode
The informal, intuitive, and limited approach
to strategic management associated with
owner-managers of smaller firms.
Planning Mode
The strategic formality associated with large
firms that operate under a comprehensive,
formal planning system.
Adaptive Mode
The strategic formality associated with
medium-sized firms that emphasize the
incremental modification of existing
competitive approaches.
Task 1
Develop
Vision
and
Mission
Revise as
Needed
Task 2
Task 3
Task 4
Task 5
Set
Goals &
Objectives
Formulate
Strategy
to Achieve
Goals &
Objectives
Implement
and
Execute
Strategy
Monitor,
Evaluate,
and Take
Corrective
Action
Revise as
Needed
Improve/
Change
Improve/
Change
Recycle
as Needed
Coca-Cola Company
Mission
Everything we do is inspired by our enduring
mission:
To Refresh the World... in body, mind, and spirit.
To Inspire Moments of Optimism... through our
brands and our actions.
To Create Value and Make a Difference...
everywhere we engage.
Coca-Cola Company
Vision
To achieve sustainable growth, we have established a vision
with clear goals.
Profit: Maximizing return to shareowners while being mindful
of our overall responsibilities.
People: Being a great place to work where people are inspired
to be the best they can be.
Portfolio: Bringing to the world a portfolio of beverage brands
that anticipate and satisfy peoples desires and needs.
Partners: Nurturing a winning network of partners and building
mutual loyalty.
Planet: Being a responsible global citizen that makes a
difference.
Coca-Cola Company
Values
We are guided by shared values that we will live by
as a company and as individuals.
Leadership: "The courage to shape a better future"
Passion: "Committed in heart and mind"
Integrity: "Be real"
Accountability: "If it is to be, its up to me"
Collaboration: "Leverage collective genius"
Innovation: "Seek, imagine, create, delight"
Quality: "What we do, we do well"