Unit 1: Strategy, Mission, Goals & Objectives

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Unit 1: Strategy, Mission, Goals & Objectives Door Mind Map: Unit 1: Strategy, Mission, Goals & Objectives

1. What is strategy?

1.1. is used to achieve a particular objectives

1.2. 3 levels

1.2.1. Corporate level: is concern with the overall purpose and scope of the org to meet stakeholder's expectations.

1.2.2. Business level: how to compete sucessfully

1.2.3. Functional/Operational level

2. Strategic management

2.1. Strategic lenses

2.1.1. Idea: emerge, battle against the norm

2.1.2. Experience: adapt past strategy

2.1.3. Design: analys, plan, control

2.2. Emergent strategy Mintberg

2.2.1. Why: Rational model is:

2.2.1.1. was not used widely in real companies

2.2.1.2. timely and costly

2.2.1.3. not enought information

2.2.1.4. is not reality

2.2.2. is not planned in advanced, but emerge from a pattern of decision in the org

2.3. Rational model

2.3.1. Core benefits

2.3.2. Strategy management process: Mission, goals, objectives, KPI [Direction]

2.3.2.1. Mission:

2.3.2.1.1. The mission outline the broad directions that org should & will follow & briefly summary the reason & value that lie behind them

2.3.2.1.2. Strategy school

2.3.2.1.3. Culture school

2.3.2.2. Objectives: (SMART)

2.3.2.2.1. Balance scored card

2.3.2.2.2. Integrated reporting

2.3.2.2.3. Factors influence obj/goals

2.3.2.2.4. CSFs as those product features that are particularly valued by a group of customers, therefore, where the org must excel to outperform competions

2.3.2.3. Goals

2.3.2.3.1. long term

2.3.2.3.2. growth

2.3.2.3.3. survival

2.3.2.3.4. control system

2.3.2.3.5. efficiency

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