SCMP - Strategic Communication Management Professional
SCMP - Strategic Communication Management Professional
Exam (elaborations)
Solutions Manual Strategic Management: Concepts and Cases, 3rd Edition by Jeffrey H. Dyer, ISBN: 9781119563143
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Course
SCMP - Strategic Communication Management Professional
Institution
SCMP - Strategic Communication Management Professional
Solutions Manual Strategic Management: Concepts and Cases, 3rd Edition by Jeffrey H. Dyer, Paul C. Godfrey, Robert J. Jensen, David J. Bryce.
ISBN: 9781119563143
Chapters 1 to 14, below resources are available for Strategic Management Concepts and Cases 3e dyes.
Teaching Notes.
Practical Applic...
Chapter 1: What Is Business Strategy?
Learning Objectives
Studying this chapter should provide you with the knowledge to:
• Define business strategy, including the importance of competitive advantage, the
four choices that are critical to strategy formulation, and the strategic management
process.
• Summarize the information that the company’s mission and thorough external and
internal analysis provide to guide strategy.
• Discuss how strategies are formulated and implemented in order to achieve
objectives.
• Explain who is responsible for, and who benefits from, good business strategy.
Purpose
Although this is no one tool acquired in this chapter, the purpose of the lecture is to
familiarize the student with what strategy is and instill the realization that being
understanding strategy is vital to competitiveness.
Please note that the “Presenters Notes” in the PowerPoint slide deck give a
brief script for lecture and can be used as a guide.
Outline
Strategy at Apple
WHAT IS BUSINESS STRATEGY?
Competitive Advantage
Strategy in Practice: Measuring American Home Products’s Competitive Advantage
The Strategic Management Process
WHAT INFORMATION AND ANALYSIS GUIDES STRATEGY FORMULATION?
Mission
External Analysis
Internal Analysis
Strategy in Practice: Apple’s Evolving Mission
HOW ARE STRATEGIES FORMULATED
, Strategy Vehicles for Achieving Strategic Objectives
Strategy Implementation
WHO IS RESPONSIBLE FOR BUSINESS STRATEGY?
Strategy in Practice: Walmart Functional Strategies Implement the Overall Strategy
Who Benefits from a Good Business Strategy?
Ethics and Strategy: The Price Companies Pay to Stay Competitive
Why You Need to Know Business Strategy
1. Why is it important for you to understand business strategy?
When starting a company or being president or general manger within one,
developing strategy is a primary job. As a junior officer in a company, developing
and implementing ideas that are consistent with corporate strategy could lead to
early promotions. You can also evaluate the potential success of companies that
you may work for by understanding their strategy.
2. How would you describe/define strategy?
A plan to achieve competitive advantage
3. What are the four choices that are part of strategy formulation?
What markets or industries will the company pursue?
What unique value should the company offer the customer in those markets?
What resources and capabilities will allow the firm to deliver unique value better
than competitors?
How will the company sustain its advantage and prevent imitation of its strategy?
4. What are the two generic strategies companies employ to offer unique value
relative to competitors?
Low cost or differentiation
5. Who is ultimately responsible for a company’s strategy? Who does this
individual (or individuals) call upon for help in formulating strategy for the
firm?
Strategic leaders who develop strategy through the strategic management
process. They usually turn to the Board of Directors and other top management
for guidance.
,6. According to Michael Porter’s “Five Forces” model, why do some firms earn
higher profits than other firms?
Firms with higher profits may be in an industry with higher average profitability.
7. What are resources and capabilities, what is the difference between them,
and why do firms need to assess them?
Resources are the tangible and intangible assets a firm employs to create value
and competitive advantage. Capabilities are the processes and activities that a
firm develops using its resources. Firms need to assess resources and capabilities
in order to allocate them properly to achieve key objectives.
8. What are three keys to the successful implementation of a company strategy?
Functional strategies need to be well aligned with delivering the unique value
identified in the overall strategy.
Structure, systems, staff, skills, style, and shared values need to be designed to
facilitate the execution of the strategy.
9. Who are the four primary stakeholder groups that influence strategic
decisions in a company?
Capital market stakeholders
Product market stakeholders
Organizational stakeholders
Community stakeholders
, Chapter 2: Analysis of the External
Environment: Opportunities and Threats
Learning Objectives
Studying this chapter should provide you with the knowledge to:
• Explain the importance of correctly identifying and choosing a firm’s industries and
markets.
• Identify and measure the five major forces that shape average firm profitability within
industries to evaluate the overall attractiveness of an industry.
• Discuss how understanding the five forces that shape industry competition is useful as a
starting point for developing strategy.
• Discuss situations in which entry into both attractive and unattractive industries follows
“new thinking” rather than conventional wisdom.
• Identify the factors in the general environment that affect firm and industry profitability.
Purpose
The purpose of this chapter is to introduce students to the forces that influence industries
internally and externally. Students will learn how to apply Michael Porter’s Five Forces
framework to evaluate the attractiveness of industries in the broader scope of the general
environment. The Five forces framework will be basis of analysis for the remainder of the course.
Students will learn this tool through class lecture, end of chapter assignments, mini-cases in
chapter and finally with the Coca Cola case.
Please note that the “Presenters Notes” are in the PowerPoint slide deck give a
brief script for lecture and can be used as a guide.
Outline
Nokia and the Smartphone Industry
DETERMINING THE RIGHT LANDSCAPE: DEFINING A FIRM’S INDUSTRY
Strategy in Practice: How the U.S. Government Defines Industries
FIVE FORCES THAT SHAPE AVERAGE PROFITABILITY WITHIN INDUSTRIES
Rivalry: Competition among Established Companies
Buyer Power: Bargaining Power and Price Sensitivity
Supplier Bargaining Power
Threat of New Entrants
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