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SM Modul 1

This document discusses the key components of strategic management: vision, mission, goals, objectives, and plans. It provides examples for each component, such as Nike's vision to be the number one athletic company in the world. Goals should follow the SMART criteria of being specific, measurable, achievable, realistic, and time-bound. Objectives are broader long-term perceptions that define a company's business actions. Plans are courses of action that can be standing plans like policies or ad hoc single-use plans like projects and budgets. The document emphasizes that strategic management is creating a plan of action and allocating resources to carry out a company's vision.

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akshay yadav
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83 views13 pages

SM Modul 1

This document discusses the key components of strategic management: vision, mission, goals, objectives, and plans. It provides examples for each component, such as Nike's vision to be the number one athletic company in the world. Goals should follow the SMART criteria of being specific, measurable, achievable, realistic, and time-bound. Objectives are broader long-term perceptions that define a company's business actions. Plans are courses of action that can be standing plans like policies or ad hoc single-use plans like projects and budgets. The document emphasizes that strategic management is creating a plan of action and allocating resources to carry out a company's vision.

Uploaded by

akshay yadav
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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MMS

STRATEGIC MANAGEMENT
UNIT – 01

SHRIPAD BAPAT
STRATEGY
Derived from the word – “STRATEGOS”
meaning “THE ART OF THE GENERAL”
Defined as “THE ART OF PROJECTING AND
DIRECTING CAMPAIGNS ….A PRELUDE
TO THE BATTLEFIELD”
For the Business World-
IT IS A PLAN OF ACTION AND
ALLOCATION OF RESOURCES FOR
CARRYING OUT VISION OF A COMPANY.
STRATEGIC MANAGEMENT
• MEANING OF STRATEGIC
MANAGEMENT

• IMPORTANCE OF STRATEGIZING
COMPONENTS OF STRATEGY
1. VISION .

2. MISSION .

3. GOALS .

4. OBJECTIVES .

5. PLANS
1. VISION
A VISION PORTRAYS COMPANY’S FUTURE .

e.g.
NIKE’S VISION .

1960s – CRUSH ADIDAS .


CURRENT – TO BE NUMBER ONE
ATHELETIC COMPANY IN THE WORLD .
VISION
• MEANING
• BENEFITS
• FEATURES
EXAMPLEe.g.
NIKE’S VISION .
1960s – CRUSH ADIDAS .
CURRENT – TO BE NUMBER ONE
ATHELETIC COMPANY IN THE WORLD
.
2. MISSION
MISSION DESCRIBES COMPANY’S
PRESENT .

e.g.

NIKE’S MISSION – TO BRING


INSPIRATION AND INNOVATION TO
EVERY ATHLETE IN WORLD .
MISSION
• MEANING
• CHARACTERISTICS
• BENEFITS
• COMPONENTS
• EXAMPLE
NIKE’S MISSION – TO BRING
INSPIRATION AND INNOVATION TO
EVERY ATHLETE IN WORLD .
3. GOALS
GOALS SHOULD BE SMART .

S → SPECIFIC .
M → MEASURABLE .
A → ASPIRATIONAL .
R → REALISTIC .
T → TIME BOUND .

IT IS SAID THAT GOALS SHOULD BE ACHIEVABLE , BUT


VISION SHOULD BE COMPLEX . ACCORDING TO DAN
ROCKWELL , A LEADERSHIP CONSULTANT ‘ IF YOU CAN
REACH YOUR VISION WITH CURRENT RESOURCES , YOU
NEED A BIGGER VISION ’ .

e.g.

TO ACHIEVE RS.1 LAKH CRORES SALES BY 2020 .


GOALS
GOALS CAN BE SHORT TERM AND LONG TERM . SHORT TERM
GOALS ARE FROM 3 TO 5 YEARS DURATION . ANYTHING
ABOVE 5+ YEARS DURATION ARE LONG TERM GOALS .

e.g.

1. OPEN 50 RESTAURANTS IN INDIA BY 2018 .


2. OPEN 100 RESTAURANTS IN CHINA BY 2020 .
3. INCREASE NUMBER OF INTERNATIONAL RESTAURANTS
FROM 12,000 IN 2020 TO 15,000 IN 2025 .

• IMPORTANCE
• CHARACTERISTICS
4. OBJECTIVES
ONE NEEDS TO DEFINE OBJECTIVES TO ACHIEVE
A GOAL .

OBJECTIVES ARE LONG TERM BROADER


PERCEPTIONS, DEFINING PURPOSE OF YOUR
BUSINESS ACTIONS.

• CHARACTERISTICS
• IMPORTANCE
• STEPS IN OBJECTIVE FORMULATION
• GUIDELINES FOR OBJECTIVE SETTING
5. PLANS
A PLAN IS A COURSE OF ACTION.

PLANS ARE CATEGORIZED AS:


1. STANDING PLANS
THESE INCLUDE MISSION, OBJECTIVES, POLICIES,
PROCEDURES, RULES ETC.

2. ADHOC / SINGLE USE PLANS


THESE INCLUDE PROGRAMMES, BUDGETS,
SCHEDULES, PROJECTS, STANDARDS ETC.
THANK YOU !

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