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Strategy Formulation MBA Program

This document discusses key concepts in strategy formulation, including company mission, internal and external analysis, strategic analysis and choice, long and short term objectives, generic and grand strategies, functional tactics, policies, leadership and culture, and strategic control and improvement. It also distinguishes between mission and vision, providing examples of each from TATA Power and Starbucks. The Starbucks vision statement is analyzed and an improved version is proposed. Components of a mission statement are listed. Finally, an example mission statement from TATA Power is presented.

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Hasnat nahid Himel
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31 views6 pages

Strategy Formulation MBA Program

This document discusses key concepts in strategy formulation, including company mission, internal and external analysis, strategic analysis and choice, long and short term objectives, generic and grand strategies, functional tactics, policies, leadership and culture, and strategic control and improvement. It also distinguishes between mission and vision, providing examples of each from TATA Power and Starbucks. The Starbucks vision statement is analyzed and an improved version is proposed. Components of a mission statement are listed. Finally, an example mission statement from TATA Power is presented.

Uploaded by

Hasnat nahid Himel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Strategy Formulation

MBA program
Lecture 02
ž  Company Mission: Unique purpose that sets a company apart and
identifies its organizational scope.
ž  Internal Analysis: Analysis of company’s resources and weaknesses.
ž  External Analysis: Factors and forces that affect strategic options.
ž  Strategic Analysis and Choice: Identifying a range of attractive
opportunities.
ž  Long term objectives: The results that an organization seeks to achieve
over a multiyear period.
ž  Generic Strategies: Fundamental philosophical options for the design
of strategies.
ž  Grand Strategies: The means of which objectives are achieved.
ž  Short term objectives
ž  Functional Tactics: Short term narrow scoped plans.
ž  Policies
ž  Leadership and Culture
ž  Strategic Control and Improvement
ž Vision vs Mission
ž  Mission tries to identify the purpose, philosophy and goals of an
organization where vision is to identify the long term destination of
an organization.
ž  Mission statement answers the question “What is our business”?
On the other hand vision statement answers “What do we want to
become”.
Vision statements:
‘To be the most admired and responsible integrated Power company
with international footprint, delivering sustainable value to all
stakeholder’

-TATA Power
‘Starbucks strives to ethically find highest quality coffee: a very
welcoming atmosphere and unequaled quality’
Starbucks Vision statement analysis:
§  The existing vision statement does not state what the company
wants to become nor it acknowledges the firms movement into
specialty tea offerings.
Starbucks ‘Improved’ Vision statement:
‘Starbucks vision is to be the most well known, specialty coffee and
pastry restaurant in the world, offering sincere customer service
and a welcoming atmosphere’.

The improved statement reveals the company’s aspirations for the


future and acknowledges that upscale tea and pastries complement
their premium coffee offerings.
u  Customers- Who are?
u  Products or Service- What are the major products?
u  Markets-Geographically, where it compete?
u  Technology-What are they?
u  Growth-commitment towards growth?
u  Philosophy-beliefs, values and aspiration
u  Concern for public image-responsive for social, community and
environmental concern?
u  Concern for employees
We will become the most admired and responsible Power Company
delivering sustainable value by:
ž  Operating our assets at benchmark levels
ž  Executing projects safely, with predictable benchmark quality, cost
and time
ž  Driving organizational transformation and creating a culture that
will help us to deliver on our strategic plans
ž  Achieving our sustainability intent of ‘Leadership with care’
ž  Care for environment, care for community and care for
stakeholders.

- The mission statement of TATA


power.

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