Bài giảng Chapter 1: Strategic Management and Strategic Competitiveness

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Bài giảng Chapter 1: Strategic Management and Strategic Competitiveness với các vấn đề chính như: Strategic Competitiveness; Sustained Competitive Advantage; Above-Average Returns;... Hy vọng tài liệu là nguồn thông tin hữu ích cho quá trình học tập và nghiên cứu của các bạn.

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Nội dung Text: Bài giảng Chapter 1: Strategic Management and Strategic Competitiveness

Chapter 1 Strategic Management and Strategic Competitiveness Michael A. Hitt R. Duane Ireland Robert E. Hoskisson ©2000 SouthWestern College Publishing Ch1
Strategic Competitiveness Achieved when a firm successfully formulates and implements a valuecreating strategy Sustained Competitive Advantage Occurs when a firm develops a strategy that competitors are not simultaneously implementing Provides benefits which current and potential competitors are unable to duplicate AboveAverage Returns Returns in excess of what an investor expects to earn from other investments with similar risk Ch1
The Strategic Management Process Involves the full set of: Commitments Decisions Actions which are required for firms to achieve: Strategic Competitiveness Sustained Competitive Advantage AboveAverage Returns Ch1
Chapter 2 Strategic External Environment The Strategic Management Inputs Strategic Intent Strategic Mission Chapter 3 Internal Environment Process Strategy Formulation Strategy Implementation Chapter 4 Chapter 5 Chapter 6 Chapter 10 Chapter 11 BusinessLevel Competitive CorporateLevel Corporate Structure Strategic Actions Strategy Dynamics Strategy Governance & Control Chapter 7 Chapter 8 Chapter 9 Chapter 12 Chapter 13 Acquisitions & International Cooperative Strategic Entrepreneurship Restructuring Strategy Strategies Leadership & Innovation Outcomes Strategic Strategic Competitiveness Feedback Above Average Returns Ch1
Chapter One: Key Themes Challenge of Strategic Management Changing Competitive Landscape Two Models of Superior Profitability • Industrial Organization Model • ResourceBased Model Key Stakeholder Groups Ch1
Challenge of Strategic Management Only 16 of the 100 largest U.S. companies at the start of the 20th century are still identifiable today! In a recent year, 44,367 businesses filed for bankruptcy and many more U.S. businesses failed Competitive success is transient...unless care is taken to preserve competitive position Ch1
Challenge of Strategic Management Best Stocks of the Decade The goals of achieving strategic competitiveness and earning above average returns are challenging The performance of some companies more than meets strategic management's challenge Ch1
21st Century Competitive Landscape Fundamental nature of The pace of change competition is changing is relentless.... • Rapid technological changes and increasing • Rapid technology diffusions Traditional industry • Dramatic changes in boundaries are information and blurring, such as... communication technologies • Computers • Increasing importance of • Telecommunications knowledge Ch1
21st Century Competitive Landscape The global economy is Traditional sources of changing competitive advantage no longer guarantee • People, goods, services and success ideas move freely across geographic boundaries New keys to success • New opportunities emerge include: in multiple global markets • Flexibility • Markets and industries • Innovation become more • Speed internationalized • Integration Ch1
21st Century Competitive Landscape A country’s Country Competitiveness Rankings 1999 1998 Country Competitiveness Competitiveness competitiveness is Index 1999 Index 1998 achieved through the 1 2 1 3 Singapore United States 2.12 1.58 2.16 1.41 accumulation of 3 2 Hong Kong 1.41 1.91 4 6 Taiwan 1.38 1.19 individual firms’ 5 5 Canada 1.33 1.27 strategic 6 7 8 10 Switzerland Luxembourg 1.27 1.25 1.10 1.05 competitiveness in 8 4 United Kingdom 1.17 1.29 the global economy 9 10 7 11 Netherlands Ireland 1.13 1.11 1.13 1.05 11 15 Finland 1.11 0.70 12 14 Australia 1.04 0.79 13 13 New Zealand 10.1 0.84 Achieving improved 14 12 Japan 1.00 0.97 competitiveness 15 16 9 17 Norway Malaysia 0.92 0.86 1.09 0.59 allows a country's 17 16 Denmark 0.85 0.61 18 30 Iceland 0.59 -0.18 citizens to have a 19 23 Sweden 0.58 0.25 higher standard of 20 21 20 18 Austria Chile 0.37 0.57 0.37 0.57 living 22 19 Korea 0.46 0.39 23 22 France 0.44 0.25 24 27 Belgium 0.39 -0.03 25 24 Germany 0.37 0.15 26 25 Spain 0.16 0.02
Alternative Models of Superior Returns Industrial Organization ResourceBased Model Model The External Environment Resources An Attractive Industry Capability Strategy Formulation Competitive Advantage Assets and Skills An Attractive Industry Strategy Implementation Strategy Implementation Superior Returns Superior Returns Ch1
I/O Model of Superior Returns The Industrial Organization model suggests that aboveaverage returns for any firm are largely determined by characteristics outside the firm. This model largely focuses on industry structure or attractiveness of the external environment rather than internal characteristics of the firm. Ch1
I/O Model of Superior Returns External Action required: Environment Study the external environment, especially General Environment the industry environment. Industry Environment Competitive Environment Ch1
I/O Model of Superior Returns External Action required: Environment Locate an industry with An Attractive high potential for above Industry General Environment average returns. Industry Environment An industry whose Competitive structural characteristics Environment suggest aboveaverage returns are possible Ch1
I/O Model of Superior Returns External Action required: Environment Identify strategy called for Attractive by the industry to earn Industry General Environment aboveaverage returns. Strategy Industry Environment An industry whose Competitive Formulation structural characteristics Environment Selection of a strategy suggest aboveaverage linked with above returns are possible average returns in a particular industry Ch1
I/O Model of Superior Returns External Action required: Environment Develop or acquire assets Attractive and skills needed to Industry General Environment implement the strategy. Strategy Industry Environment An industry whose Competitive Formulation structural characteristics Environment Assets and Skills Selection of a strategy suggest aboveaverage linked with above returns are possible Assets and skills average returns in a required to implement particular industry a chosen strategy Ch1
I/O Model of Superior Returns External Action required: Environment Use the firm’s strengths Attractive (its assets or skills) to Industry General Environment implement the strategy. Strategy Industry Environment An industry whose Competitive Formulation structural characteristics Environment Assets and Skills Selection of a strategy suggest aboveaverage linked with above returns are possible Strategy Assets and skills average returns in a Implementation required to implement particular industry a chosen strategy Selection of strategic actions linked with effective implementation of the chosen strategy Ch1
I/O Model of Superior Returns External Action required: Environment Maintain selected strategy Attractive in order to outperform Industry General Environment industry rivals. Strategy Industry Environment An industry whose Competitive Formulation structural characteristics Environment Assets and Skills Selection of a strategy suggest aboveaverage linked with above returns are possible Strategy Assets and skills average returns in a Implementation required to implement particular industry a chosen strategy Superior Returns Selection of strategic actions linked with Earning of above effective implementation average returns of the chosen strategy Ch1
ResourceBased Model of Superior Returns The ResourceBased model suggests that aboveaverage returns for any firm are largely determined by characteristics inside the firm. This model focuses on developing or obtaining valuable resources and capabilities which are difficult or impossible for rivals to imitate. Ch1
ResourceBased Model of Superior Returns Action required: Resources Identify firm resources. Study strengths and weak Inputs to a firm’s nesses relative to rivals. production process. Ch1