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ssion Reasons for existence Objectives What results to acplish by when Strategies Plan to achieve the mission objectives Policies Broad guidelines for decision making Programs Activities needed to acplish a plan Performance Actual results Budgets Cost of programs Procedures Sequence of steps needed to do the job How? (proses manajemen strategi) Feedback/Learning: Make correction as needed Strategic Management Economic Social Cultural Demographic Environmental Political Legal Governmental Technological Competitive trends Events External Opportunities and Threats Societal Environment ? Sociocultural Forces ? Economic Forces ? PoliticalLegal Forces ? Technological Forces Task Environment ? Shareholders ? Goverments ? Suppliers ? Special Interest Groups ? Employees / Labor Unions ? Customers ? Competitors ? Creditors ? Trade Associations ? Communities Porter’s Generic Strategies Target Scope Advantage Low Cost Product Uniqueness Broad (Industry Wide) Cost Leadership Strategy Differentiation Strategy Narrow (Market Segment) Focus Strategy (low cost) Focus Strategy (differentiation) Points: ? A firm positions itself by LEVERAGING its strengths ? Porter argued that a frim’s strengths ultimately fall into 2 of 2 headings: cost advantage and differentiation ? It is called “generic” because it is not firm or industry dependent, it is a strategy that everyone can apply with some measures