FORMULATION OF STRATEGIC ACTION

            Corporate-Level Strategy

Corporate-level strategy as the phrase indicate attempts to identify  strategies that corporations or organization decide to pursue for the benefit of the whole organization.These are usually made at the top management level if  the organization is a holding company or conglomerate with many subsidiaries and activities or branches and divisions

 International corporate level Strategy

International corporate level Strategy have a four different types:

• Replication Strategy
• Global strategy
• Multi-domestic strategy
• Transnational strategy

Formulation of Strategic Actions 

- Business and functional Level Strategy   

  

Business level strategy refer to strategies that firms use to build competitive advantages.These strategies include low cost leadership,differentiation and focus strategies.

Business level strategies seek to answer the following question:

• Should the firm compere on the basic of lower cost or should we differentiate our product or services on some basic other than cost such as quality or service?
• Should we compete head to head with our major competitor for the biggest but most sough-after share of the market,or should we focus on a niche in which we can satisfy a less sought-after but profitable segment of the market?

Functional level strategies are actions taken at the functional or operational level and they must be in line or contribute toward the overall strategy of the operation.

THE INTERNAL ENVIRONMENT ANALYSIS

In this chapter, we learn about swot analysis and during the lecture session we analyse about ICEPs 10.

We've been divided into four group to analyse about ICEPs 10. We need to discuss and presents it in the end of the lecture.

STRATEGIC PLANNING PROCESS

THE EXTERNAL ENVIRONMENT 






                                      

Introduction to Strategic Management Elements of Strategic Management

The strategic management process is made up of three main complements:strategy formulation,strategy implementation and strategy evaluation.Identifying the company's mission and vision is the starting point for the strategic management process.Every organization should have a mission and vision statement because the mission and vision statement set the direction for the where the company is going.In order to achieve the organization's mission,we would need to internationalize the mission statement into strategic objective.

Otherwise,strategy formulation involves designing and developing the company strategies.Once the organization has developed specific strategy alternatives,implementing the strategies is the next stage.Strategy implementation means executing the strategies where the business strategy  is translated into action.The final step in strategy management process is strategy evaluation which seeks to determine  which strategy worked and which were not successful.

 Robin Hood case study.


1.What strategic problems does Robin Hood have?
    a) Economic Problem

• The band of Robin Hood was highly dependent on outright.The band operation cost to support the function is lower as the public contributes voluntarily or involuntarily to the band with money and other materials.The money is mainly used for food supply of band.However with the rapid expansion of band,the revenue income from outright confiscation and robbing of rich become limited and constrained to the band.It could cause potential problem to the further development of band the stab ability of the moral of band.

    b) Management Problem

• Vigilance was in decline and discipline was becoming harder to enforce. 
• How to manage the growth and organic maturity of his organization.

    c) Political Problem 

• High Sheriff of Nottingham has strong allies in the court and has strong sources of finance and political support.But Robin Hood is a sole player who has no allies but many enemies.

2. What strategy can Robin Hood implement??

• Robin Hood should accept the offer of the barons to work on freeing King Richard.It must join the barons and embrace a bigger picture.Besides,Robin Hood should sent a delegation o his most trusted man to the barons for a preliminary meeting to discuss a potential alliance.The barons would supply the strategy plan,knowledge of the working of the court,logistic and supplies.Robin Hood supply the man to help raise fund for the ransom and to implement the details of the plan.It would be good partnership.The barons would be like modern-day investors.Otherwise,Robin Hood and his man would be workforce in the company.It could be really great partnership. 

INTRODUCTION TO STRATEGIC MANAGEMENT AND OPERATION

STRATEGIC MANAGEMENT & OPERATION provide an understanding of the importance of good management and operation. The focus will be on how and when to use different types of strategy which depends on the organization itself and how to provide analytical concepts for the decision-making process.

In the 1st lecture,we do ice-breaking activities that built the tallest tower using old newspapers where Dr give each group 15 minutes to finish it.It is a very interesting activity.In this lecture,we learned about how to do strategic management means drafting,implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives.Otherwise,we can share many ideas with others friend,so we try tofoster the spirit of team work between our.

when you making the ideas happen, its show that you are successful