Strategies in Action Lecture (Strategic Management)

Strategies in Action Lecture (Strategic Management)

This lecture provides basic guidelines for when various strategies have historically been most effective to use. This lecture also describes Porter’s generic strategies, first-mover advantages, joint ventures, partnering, and new-to-this-edition the concept of Build, Borrow, or Buy in the context of strategic planning. It concludes by describing strategic planning in nonprofit and governmental organizations.

Learning Objectives of lecture:

1. Identify and discuss 5 characteristics and 10 benefits of clear objectives.
2. Define and give an example of 11 types of strategies.
3. Identify and discuss the three types of “Integration Strategies.”
4. Give specific guidelines when market penetration, market development, and product development are especially effective strategies.
5. Explain when diversification is an effective business strategy.
6. List guidelines for when retrenchment, divestiture, and liquidation are especially effective strategies.
7. Explain value chain analysis and benchmarking in strategic management.
8. Identify and discuss Porter’s two generic strategies: cost leadership and differentiation.
9. Compare and contrast when companies should “build, borrow, or buy” as key means for achieving strategies.
10. Discuss first-mover advantages and disadvantages.
11. Explain how strategic planning differs in for-profit, not-for-profit, and small firms.

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Strategies in Action Lecture Power Point Presentation
Test bank for Strategies in Action with all answers
1 file with useful notes for instructor
File with teaching tips

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