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Week 2 Lecture Notes

by: Audrey Broussard

Week 2 Lecture Notes MGT 3830

Audrey Broussard
GPA 3.64
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About this Document

Lecture notes for chapters 1 & 2
Strategic Management Organization
B. James
Class Notes
Strategic, Management




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This 3 page Class Notes was uploaded by Audrey Broussard on Tuesday September 6, 2016. The Class Notes belongs to MGT 3830 at Louisiana State University taught by B. James in Fall 2016. Since its upload, it has received 7 views. For similar materials see Strategic Management Organization in Management at Louisiana State University.


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Date Created: 09/06/16
MGT 3830 Week 2 Lecture Notes Chapters 1-2 CHAPTER 1 Does Twitter Have a Strategy? § Twitter’s stock prices 50% lower than when it went public in 2013 § CEO Dick Costolo depart, co-founder Jack Dorsey brought back § Launched in 2006, considered the SMS of the internet § 300 million worldwide users used usually daily § Prominent in spreading political information for Middle Eastern Revolutions § Advertisements make money, individual users pay nothing o based on interest, location, time of day § Challenges of uncertain future turnover, reshuffling management and engineering ranks, grow base § Goal to have “largest audience in the world” Strategic management: An integrative management field that combines analysis, formulation, and implementation in the quest for competitive advantage. § Mastery of this allows you to view a firm in its entirety What Strategy Is: Gaining and Sustaining Competitive Advantage § Industry vs. Firm effects in determining performance o Stakeholders and competitive advantage o Stakeholder strategy, impact analysis § A set of goal-directed actions a firm takes to gain and sustain superior performance relative to competitors § Industry consolidation, increasing R&D budget, outsourcing, globalization o Steps within strategy § Michael Porter: separate from other goals and objectives § 3 mistakes of defining strategy: strategy is too vague/labels steps as strategy § Advantage at the end of the cumulative steps over time Strategy is NOT: § Grandiose statement, statement of desire § Operational effectiveness, competitive benchmarking, other tactical tools § Not sufficient to sustain strategy MGT 3830 Week 2 Lecture Notes Chapters 1-2 Competitive advantage: a firm that achieves superior performance relative to other competitors in the same industry or industry average § Always relative, not absolute Warren Buffet on Maintaining CA: § Looking for durablility, doing well now and in the future § Capitalism of economic castle of competition § Need a castle of durable CA (moat) o Low cost producer o More talent o Institution, regardless of person in charge, will maintain CA over time Example CA: § Google CA: attract workers, market share, diverse services available, innovative § Apple CA: attract workers, market share, brand loyalty, innovative, brand name, design Competitive Advantages CA: superior performance relative to others competitors in the same industry or the industry average Sustainable CA: outperforming competitors on the industry average over a prolonged period of time Competitive DA: underperformance relative to other competitors in the same industry or industry average Competitive Parity: performance if 2 or more firms at the same level Effects Industry Effects: described the underlying economic structure of the industry § Entry and exit barriers § Number and size of companies § Types of products and services offered o About 20% of the firms profitability depends on its IN MGT 3830 Week 2 Lecture Notes Chapters 1-2 Firm effects: firm performance is attributed to managerial actions § More important factors in determining firm performance than external environmental forces o About 55% of its performance § Other Effects: business cycles, etc. Elements of a Good Strategy: Analysis: diagnosis of the competitive challenge Accomplished through strategy analysis of the firm’s internal and external environments Formulation: guiding policy to address the competitive challenge Implementation: a set of coherent actions to implement the firm’s guiding policy Chapter 2 § Difference between vision and mission § Pepsi:Performance with Purpose § Stakeholder (profit & performance) vs. shareholders (interest in company) § Singular flaw in capitalism: lost its conscious, forgot consequences of decisions for society at large bc focused on narrow group of shareholders and ignored stake holders § It is NOT CSR, every aspect of purpose delivers profit § Profit=revenues-costs-costs to society § If you keep all costs low, profit raises § Customer vs. product oriented


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