STRATEGIC MANAGEMENT

SUBMITTED TO: SUBMITTED BY:

Pradeep Hota Sanya Khurana 501804043
Agamjot Singh 501804007
Sarabjot Singh 501804044
Ashutog Nag 501804024
Aryanshi 501804021

LM Thapar School of Management

Derabassi
 Can you say what is your strategy ?

When your strategy is good:

• Formulation becomes infinitely easier because executives know what they are trying to
create.
• Implementation becomes much simpler because the strategy’s essence can be readily
communicated and easily internalized by everyone in the organization.

Components of a good strategy statement

• Objective
• Scope
• Advantage
 Strategic Objective

It is the single precise objective that will drive the business over the next five years
or so
Strategic objective should be
• specific
• measurable
• time bound.

It should also be a single goal and should be made by the mutual consent of the
managers when they have different views about the objective.
 Defining the Advantage

When the firm knows how it is different from others

• helps employees understand how they can contribute to successful execution of its strategy.

Developing a Strategy Statement

1) Create a great strategy, which requires careful evaluation of the industry landscape.
2) Develop a detailed understanding of customer needs
3) Segmenting customers
4) Identify unique ways of creating value for the selected customers
• analysis of competitors’ current strategies and a prediction of how they might change in the future
• find the sweet spot that line up the firm’s capabilities with customer needs in a way that competitors
cannot match given the changing external context—factors such as technology, industry
demographics, and regulation.
5) Communication of strategy
• involve all employees
• at all levels of the hierarchy
• strategy statement should be crystallized and executives truly understand what it will involve.
THANK YOU