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Porter's Five Forces Model

Five forces

1. Rivalry among competing firms
2. Potential entry of new competitors
3. Potential development of substitute products
4. Bargaining power of suppliers
5. Bargaining power of consumers

 

Notables Quotes

Nothing focuses the mind better than the constant sight of a competitor who wants to wipe you off the map.
(Wayne Calloway)

It is not the strongest of the species that survive, nor the most intelligent but the one most responsive to change.
(Charles Darwin)

If everyone is thinking alike, then somebody isn't thinking. (George Patton)

Nine Essential Components of a Mission Statement

1. Customers
2. Products or services
3. Markets
4. Technology
5. Concern for survival, growth and profitability
6. Philosophy
7. Self concept
8. Concern for Public Image
9. Concern for Employees

Vision and Mission Quotes

A business is not defined by its name, statutes or articles of incorporation. it is defined by the business mission. only a clear definition of the mission and purpose of the organization makes possible clear and realistic business objectives.
(Peter Drucker)

A corporate vision can focus, direct, motivate, unify and even excite a business into superior performance. the job of a strategist is to identify and project a clear vision.
(John Keane)

Where there is no vision, the people perish/destruct/suffer. (Proverbs 29:18)

The last thing IBM needs right now is a vision. (July 1993)
What IBM needs most right now is a vision. (March 1996)
(Louis V. Gerstner, Jr CEO, IBM Corp)

The best schemes of mice and men often go awry. (Robert Burns)

A strategist's job is to see the company not as it is.. but as it can become. (John W. Teets)

The very essence of leadership is that you have to have vision. You can't blow an uncertain trumpet.
(Theodore Hesburgh)

Business and Military Strategy

A key aim :-
TO GAIN COMPETITIVE ADVANTAGE

to use on strengths to exploit competitors' weaknesses.

the element of surprise provides greater competitive advantages in both military and business strategy; information system provides data on opponents or competitors.

Differences

Business strategy based on an assumption of competition

Military strategy based on assumption of conflict.

Strategy aka Strategos

Webster's New World Dictionary defined as

"the science of planning and directing large scale military operations,
of maneuvering forces into the most advantageous position prior to actual engagement with the enemy.

the word come from Greek
"strategos"

which is refer to a military general and combines stratos (the army) and ago (to lead)

17 Guidelines for Effective Strategic Planning Process

1. It should be a people more than a paper process.
2. It should be a learning process for all managers and employees
3. It should be words supported by numbers rather than numbers supported by words.
4. It should be simple and nonroutine.
5. It should vary assignments, team membership, meeting formats and even the planning calender.
6. It should challenge the assumptions underlying the current corporate strategy.
7. It should welcome bad news.
8. It should welcome open mindness and a spirit of inquiry and learning.
9. Is should not be a bureaucratic mechanism.
10. Is should no become ritualistic, stilted or orchestrated.
11. It should not become be too  formal, predictable or rigid.
12. It should not contain jargon or arcane planning language.
13. It should not be a formal system for control.
14. It should not disregard qualitative information.
15. It should not be controlled by "technician".
16. Do not pursue too many strategies at once.
17. Continually strengthen the good ethics is good business" policy.

Benefit of Strategic Management

1. Organization to be more proactive than reactive in shaping its own future.
2. Allow organization to initiate and influence, thus to exert (bring) control over its own destiny.
3. Formulate better strategies through more systematic, logical and rational approach to strategic choice.
4. Communication is a key to successful strategic management. By dialogue and participation, managers and employees become committed to supporting the organization.
5. Aim; to achieve the understanding and commitment from all managers and employees.
6. Empowerment (strengthening employees's sense of effectiveness by encouraging to to participate in decision making and to exercise initiative and imagination and rewarding them for doing so).
7. The process is learning, helping, educating and supporting activity.