Working Definition of Strategy

Sep 30, 2017Download as PPTX, PDF0 likes146 views

Stratgey has been defined in various persepective by management gurus, corporates and managing professional for a firm/ organization. From my experience I may summarize "strategy is what inspire & perspire an organization to make its position felt in its environment in sustainable way thereby contributing to better the quality of life for humanity".

WHAT’S STRATEGY
by
M.P. SINGH, Managing Consultant, BYG Advantage Ltd
B.Sc.( Electronics & Communication Engineering),NIT Kurukshetra
MBA(International Business), Indian Institute of Foreign Trade

WHAT IS STRATEGY
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 2
“If you don't know where
you are going, you are
certain to end up
somewhere else."
-Yogi Berra
“ Strategic Planning is a
process by which we can
envision the future and
develop the necessary
procedures and operations
to influence and achieve
that future".
- Clark Crouch

STRATEGY
• Strategy derived from Greek word ‘strategos’ means ‘general’
• 400-200 BC Sun Tzu’s Thee Art of War.
• The art and science of planning and marshalling resources for
their most efficient & effective use
• Strategy is combination of wisdom, science and craft
• A plan selected to bring about desired future such a
achievement of goal or solution to a problem
• Value systems too
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 3

STRATEGY- WORKING DEFINITION
“STRATEGY IS INTEGRATED SET OF CHOICES THAT POSITION A
FIRM, IN AN INDUSTRY, TO EARN SUPERIOR RETURNS OVER
LONG PERIOD”
“ STRATEGY IS INTEGRATED SET OF CHOICES THAT POSITION
AN ORGANISATION, IN ITS ENVIRONMENT, TO EARN SUPERIOR
MISSION PERFORMANCE OVER LONG PERIOD”
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 4

ENVIRONMENT
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 5

5 P OF STRATEGY
• As per Mintzberg 5 Ps of strategy
1. Plan
2. Ploy
3. Pattern
4. Position
5. Perspective
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 6

STRATEGY AS PLAN
• Planning is as essential part of the strategy formulation.
• PEST Analysis
• SWOT Analysis
• Brainstorming
• Issue with planning , its not enough on its own
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 7

STRATEGY AS PLOY
• Getting better of competitors, by plotting
• Disrupt
• Dissuade
• Discourage
• Influence
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 8

STRATEGY AS PATTERN
• Strategy emerges from past behavior
• Not intentional but
• Consistent and successful way develop into strategy
• USP Analysis
• Core Competence Analysis
• VRIO
STRATEGY AS POSITION
• How Position in Market place
• E.g. Niche
• Porter Diamond
• Porter’s Five Forces
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 9

STRATEGY AS PERSPECTIVE
• Patterns of thinking shapes an organizations perspective
• Things that it can do well
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 10

COMPONENTS
OF STRATEGIC
PLANNING &
EXECUTION
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 11

STRATEGIC MANAGEMENT PROCESS
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 12

ORGANIZATION PURPOSE
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 13

VISION & MISSION STATEMENTS
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 14
Mission : Hunger to win customers for life
Vision : To enrich lives of our customers through
exceptional experience
Values: to work towards vision driven by values- AIR( Alive,
Inclusive & Respectful)
Mission : To be customers’ favorite place and way to eat &
drink.
Vision : to become modern, progressive burger company
delivering contemporary customer experience

ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 15

SWOT ANALYSIS
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 16

SWOT INTERACTION
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 17

VRIO
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 18

INDUSTRY ENVIRONMENT –PORTER 5 FORCE
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 19

STRATEGY
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 20

ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 21

INNOVATION, INVENTION, CREATIVITY &
SCIENCE
ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 22

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Working Definition of Strategy

1. WHAT’S STRATEGY by M.P. SINGH, Managing Consultant, BYG Advantage Ltd B.Sc.( Electronics & Communication Engineering),NIT Kurukshetra MBA(International Business), Indian Institute of Foreign Trade

2. WHAT IS STRATEGY ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 2 “If you don't know where you are going, you are certain to end up somewhere else." -Yogi Berra “ Strategic Planning is a process by which we can envision the future and develop the necessary procedures and operations to influence and achieve that future". - Clark Crouch

3. STRATEGY • Strategy derived from Greek word ‘strategos’ means ‘general’ • 400-200 BC Sun Tzu’s Thee Art of War. • The art and science of planning and marshalling resources for their most efficient & effective use • Strategy is combination of wisdom, science and craft • A plan selected to bring about desired future such a achievement of goal or solution to a problem • Value systems too ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 3

4. STRATEGY- WORKING DEFINITION “STRATEGY IS INTEGRATED SET OF CHOICES THAT POSITION A FIRM, IN AN INDUSTRY, TO EARN SUPERIOR RETURNS OVER LONG PERIOD” “ STRATEGY IS INTEGRATED SET OF CHOICES THAT POSITION AN ORGANISATION, IN ITS ENVIRONMENT, TO EARN SUPERIOR MISSION PERFORMANCE OVER LONG PERIOD” ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 4

5. ENVIRONMENT ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 5

6. 5 P OF STRATEGY • As per Mintzberg 5 Ps of strategy 1. Plan 2. Ploy 3. Pattern 4. Position 5. Perspective ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 6

7. STRATEGY AS PLAN • Planning is as essential part of the strategy formulation. • PEST Analysis • SWOT Analysis • Brainstorming • Issue with planning , its not enough on its own ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 7

8. STRATEGY AS PLOY • Getting better of competitors, by plotting • Disrupt • Dissuade • Discourage • Influence ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 8

9. STRATEGY AS PATTERN • Strategy emerges from past behavior • Not intentional but • Consistent and successful way develop into strategy • USP Analysis • Core Competence Analysis • VRIO STRATEGY AS POSITION • How Position in Market place • E.g. Niche • Porter Diamond • Porter’s Five Forces ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 9

10. STRATEGY AS PERSPECTIVE • Patterns of thinking shapes an organizations perspective • Things that it can do well ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 10

11. COMPONENTS OF STRATEGIC PLANNING & EXECUTION ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 11

12. STRATEGIC MANAGEMENT PROCESS ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 12

13. ORGANIZATION PURPOSE ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 13

14. VISION & MISSION STATEMENTS ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 14 Mission : Hunger to win customers for life Vision : To enrich lives of our customers through exceptional experience Values: to work towards vision driven by values- AIR( Alive, Inclusive & Respectful) Mission : To be customers’ favorite place and way to eat & drink. Vision : to become modern, progressive burger company delivering contemporary customer experience

15. ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 15

16. SWOT ANALYSIS ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 16

17. SWOT INTERACTION ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 17

18. VRIO ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 18

19. INDUSTRY ENVIRONMENT –PORTER 5 FORCE ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 19

20. STRATEGY ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 20

21. ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 21

22. INNOVATION, INVENTION, CREATIVITY & SCIENCE ST ANDREWS INSTITUTE OF TECHNOLOGY & MANAGEMENT 29-Sept-2017 22

23. THANK YOU maneshpratap@gmail.com

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Working Definition of Strategy

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