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Transcript of Kuliah 2-3 Manstra S1 MBTI -DT
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Integrity Entrepreneurship Best For Excellence
Strategic ManagementConcept and ProcessKuliah 2-3
Translating Vision, Mission and Corporate Strategy into Business and Functional Strategy
DODIE TRICAHYONO
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Definitions
Strategic Competitiveness
When a firm successfully formulates and implements a value-creating strategy
Sustainable Competitive Advantage
When competitors are unable to duplicate a companys value-creating strategy
Strategic Management Process
The full set of commitments, decisions, and actions required for a firm to achievestrategic competitiveness and earn above-average returns
Risk
An investors uncertainty about the economic gains or losses that will result from a
particular investment
Average Returns
Returns equal to those an investor expects to earn from other investments with a similaramount of risk
Above-average Returns
Returns in excess of what an investor expects to earn from other investments with asimilar amount of risk
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Competitive advantage Stakeholders Strategists Vision and Mission Statements
External Opportunities and Threats Internal Strengths and Weaknesses Long-term Objectives Strategies Annual Objectives Policies
Key Terms in Strategic Management
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Strategic Management Concepts
Definition:
Strategic management consists of the analysis, decisions, and actions anorganization undertakes in order to create and sustain competitiveadvantages.
Key Attributes of Strategic Management:
Directs the organization toward overall goals and objectives.
Involves the inclusion of multiple stakeholders in decision making.
Needs to incorporate short-term and long-term perspectives.
Recognizes tradeoffs between efficiency and effectiveness.
Some Key Driving Forces: Globalization: Think globally, act locally
Rapid technological change and diffusion
Intellectual capital: Knowledge as the source of competitive advantage
Enhancing employee involvement
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The Strategy-Making, Strategy-ExecutingProcess
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Developing a Strategic Vision
Involves thinking strategicallyabout
Futuredirection of company
Changesin companys product-market-customer-technology to improve
Current market position
Future prospects
Astrategic visionis a road map showing the route a companyintends to take in developing and strengthening its business. It
paints a picture of a companys destination and provides arationale for going there.
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Key Elements of a Strategic Vision
Delineates managements aspirations for the business
Charts a strategic path for the future
Where are we going?
Steers energies of employees
in a common direction
Molds organizational identity
Is distinctiveand specificto
a particular organization
Avoids use of generic languageTriggers strong emotions
Is challenging, uncomfortable, nail biting
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Examples of Strategic Visions
NikeTo bring innovation inspiration to every athlete in the world.
General ElectricWe will become number one or number two in every market we serve,
and revolutionize this company to have
the speed and agility of a small enterprise.
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Examples of Strategic Visions
IntelOur vision: Getting to a billion connected computers worldwide,
millions of servers, and trillions of dollars of e-commerce. Intelscore mission is being the building block supplier to the Internet
economy and spurring efforts to make the Internet more useful.
Being connected is now at the center of peoples computing
experience. We are helping to expand the capabilities of the PC
platform and the Internet . . . We have seen only the early stagesof deployment of digital technologies.
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Characteristics of Mission Statement
Defines currentbusiness activities,
highlighting boundariesof current business Present products and services
Types of customers served
Conveys
Whowe are,
Whatwe do, and
Whywe are here
A companys mission isnotto make a profit! Its true mission is its
answer to What will we do to make a profit?
Making a profit is an objective or intended outcome!
Three factors to consider
Customer needsWhat is being satisfied
Customer groupsWho is being satisfied
Technologies/resources/businessapproaches used and activitiesperformedHow customer needs are satisfied
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Dells Mission Statement
Dell Computers mission is to be the most successfull computercompany in the world at delivering the best customer experience in
markets we serve. In doing so, Dell will meet customer
expectations of highest quality; leading technology; competitive
pricing; individual and company accountability; best-in-class
service and support; flexible customization capability; superior
corporate citizenship; financial stability.
Dell Computer
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Example: Mission Statement
Pfizer is a research-based, global pharmaceutical
company.We discover and develop innovative, value-added
products that improve the quality of life of people
around the world and help them enjoy longer, healthier,
and more productive lives.The company has three business segments: health
care, animal health and consumer health care. Our
products are available in more than 150 countries.
Pfizer Inc.
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The Ritz-Carlton Hotel is a place where the genuine
care and comfort of our guests is our highest mission.We pledge to provide the finest personal service and
facilities for our guests who will always enjoy a warm,
relaxed yet refined ambiance.
The Ritz-Carlton experiences enlivens the senses,
instills well-being, and fulfills even the unexpressed
wishes and needs of our guests.
Ritz-Carlton Hotels
Example: Mission Statement
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Example: Mission Statement
The Gillette Company is a globally focused consumerproducts company that seeks competitive advantage in
quality, value-added personal care and personal useproducts. We compete in four large, worldwide businesses:
personal grooming products, consumer portable powerproducts, stationery products and small electrical
appliances.
As a company, we share skills and resources amongbusiness units to optimize performance. We are committed
to a plan of sustained sales and profit growth thatrecognizes and balances both short- and long-term
objectives.
The Gillette Company
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Example: Mission Statement
Our missionis to achieve or enhance clear leadership, worldwide, inthe existing or new core consumer product categories in which we
choose to compete. Current core categories are:
Male grooming products - blades and razors, electric shavers,shaving preparations and deodorants . . .
Female grooming products - wet shaving products, hair removaland hair care appliances and deodorants . . .
Alkaline and specialty batteries and cells. Writing instruments and correction products.
Certain areas of the oral care market - toothbrushes . . .
Selected areas of the high-quality small household appliancebusiness - coffeemakers . . .
The Gillette Company
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How to Evaluate the Mission Statements
CustomersWho are the firms customers?
Products or ServicesWhat are the firms major products or servoces?
Markets Geographically, where does the firm compete?
Technology Is the firm technologically current?
Concerns for survival, growth, and profitability
Is the firm committed togrowth and financial soundness?
Philosophy What are the basic beliefs, values, aspirations, and ethicalpriorities of the firm?
Self-conceptWhat is the firms distinctive competence or major
competitive advantage?Concern for public image Is the firm responsive to social, community,
and environmental concerns?
Concern for employees Are employees a valuable asset of the firm?
S
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Mission Statements forFunctional Departments
Spotlights departments
Roleand scopeofactivities
Directionwhichdepartment needs topursue
Contributionto firmsoverall mission
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Break
Tugas Kelompok 1: Cari Vission and Mission Statements
dari satu perusahaan dan analisis dengan menggunakanteori yang ada.
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Linking the Vision With Company Values
A statement of valuesis often provided
to guide the companys pursuit of its vision
Values Beliefs, business principles, and ways of doingthings that are incorporated into
Companys operations
Behavior of workforce
Values statements
Contain between four and eight values
Are ideally tightly connected to and reinforcecompanys vision, strategy, and operating
practices
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Example: Company Values
Home Depot
Creating
shareholder value
Building strong
relationships
Entrepreneurial
spirit Excellent customer
service
Giving back to the
community
Respect for all
people
Doing the right
thing
Taking care of
people
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Du Pont
Safety Ethics
Environmental
stewardship
Respect for
people
Example: Company Values
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Communicating the Strategic Vision
An exciting, inspirationalvision
Contains memorable language
Clearly maps companys future direction
Challenges and motivates workforce
Provokes emotion and enthusiasm
Winning supportfor the vision involves
Putting where we are going and why in writing
Distributing the statement organization-wide
Having executives explain the visionto the workforce
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Examples: Vision Slogans
Levi Strauss & CompanyWe will clothe the world by marketing the most appealing and
widely worn casual clothing in the world.
Microsoft CorporationEmpower people through great softwareany time, any place,
and on any device.
Mayo Clinic
The best care to every patient every day.
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Strategic Inflection Points
There are times when companies come to a major fork in
the road.Perhaps because market conditions are changing rapidly in ways
that threaten or endanger the companys business prospects
Perhaps because the strategy simply runs out of stream
Perhaps because the actions of competitors block the success of thecompanys present strategic course and strategy
Critical decisions have to be made about where do we go
from hereA major new directional path may have to be taken
A major new strategymay be needed
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Intels Strategic Inflection Points
Prior to mid-1980s
Focus on memory chips
Starting in mid-1980sAbandon memory chip business (due to lower-cost Japanesecompanies taking over the market) and
Become preeminent supplier of microprocessors to PC industryMake PC central appliance in workplace and home Be undisputed leader in driving PC technology forward
1998Shift focus from PC technology to
becoming the preeminent building blocksupplier to the Internet economy
2005? 2010?
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Payoffs of a Clear Strategic Vision
Crystallizesan organizationslong-term direction
Reduces riskof rudderless decision-making
Assists in gaining supportof organizational members forchanges to make the vision a reality
Helps keep strategy-related actions
of managers on common path
Helps an organization prepare forthe future
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Setting Objectives
Purposeof setting objectives Converts vision into specific performance targets
Creates yardsticks to track performance
Pushes firm to be inventive, intentional, andfocused in its actions
Setting challenging, achievableobjectives guards against
Complacency
Internal confusion
Status quo performance
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Characteristics of Objectives
Represent commitment to achievespecific performance targets
Spell-out how muchof what kindof performance by when
Well-stated objectives are
Quantifiable
Measurable
Contain a deadlinefor achievement
Establishing objectivesconvertsthe
vision intoconcrete performance outcomes!
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Types of Objectives Required
Outcomes focusedon improving financialperformance
Outcomes focused onimproving long-termcompetitive business
position
Financial Objectives Strategic Objectives
X% increase in annual revenues
X% increase annually in after-tax profits
X% increase annually in earnings per share
Annual dividend increases of X%
Profit margins of X%
X% return on capital employed (ROCE)
Increased shareholder value
Strong bond and credit ratings
Sufficient internal cash flows to fund 100% ofnew capital investment
Stable earnings during periods of recession
Have strong position in X market
Increase market share to become X%
Shorter On-Time delivery than rivals
Shorter design-to-market times (x) thanrivals
Lowest costs of production
Wider geographic coverage than rivals
No 1 in Quality of products and service
Wider product line than rivals
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Unilevers Strategic and Financial Objectives
Grow annual revenues by 5-6% annually
Increase operating profit margins from 11% to 16%within 5 years
Trim companys 1200 food, household, and personal
care products down to 400 core brands
Focus sales and marketing efforts on those brandswith potential to become respected,market-leading global brands
Streamline companys supply chain
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Seagate Technologys Strategic Objectives
Solidify the companys No. 1 position inthe overall market for hard-disk drives
Get more Seagate drives into popular consumerelectronics products (i.e. video recorders)
Take share away from Western Digital in providingdisk drives for Microsofts Xbox
Capture a 10% share of the market for 2.5-inch harddrives for notebook computers by 2004
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DuPonts Financial and Strategic Objectives
To achieve annual revenue growth of 5 to 6% andannual earnings-per-share growth averaging 10%
Grow per-share profits faster than revenues by
(a)Increasing productivity,
(b)Selling enough new products each year thataverage prices and average margins rise, and
(c)Using surplus cash to buy back shares
Sell the companys low-margin textiles and interiorsdivision (with sales of $6.6 billion and operating profitsof only $114 million)
Strategic Performance Fosters Better Financial
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Strategic Performance Fosters Better FinancialPerformance
A companys achievement of satisfactory
financial performance, by itself, is not enough Financial performance measures are
lagging indicatorsreflecting results of past decisions and actions
Of equal or greater importance is a companys performance on
measures of its strategic well-being its competitivenessand marketposition
Strategic performance measures areleading indicatorsof acompanys future financial performance and business prospects
Achievement of strategic performance targets
Signals growing competitiveness
Signals growing strength in the marketplace
Balanced Scorecard Approach
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Balanced Scorecard ApproachStrategic and Financial Objectives
Balanced scorecard approachfor measuring
company performance requiresboth Financial objectives Strategic objectives
Emphasison financial performancemay assume
priorityover strategic performance whencompanys Financial performance is dismal and Survival is threatened
Otherwise, management is advised to put more emphasison achieving strategic objectives
The surestpathtosustained future profitabilityyear after year is to relentlesslypursue strategic outcomes
that strengthen a companys business position andgive it a growingcompetitive advantageover rivals!
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Short-Term vs. Long-Term Objectives
Short-term objectives
Targets to be achieved soon
Milestones or stair steps for reaching long-rangeperformance
Long-term objectives
Targets to be achieved within3 to 5 years
Prompt actions now that willpermit reaching targetedlong-range performance later
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Objectives Are Needed at All Levels
1. First, establish organization-wideobjectives andperformance targets
2. Next, set businessandproduct lineobjectives
3. Then, establish functional
and departmentalobjectives
4. Individualobjectives are established last
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Importance of Top-Down Objectives
Guideobjective-setting and
strategy-making at lower levels
Ensuresfinancial and strategicperformance targetsfor all business units, divisions, anddepartments are directly connectedto achieving
company-wide objectives
Integrationof objectiveshas two advantages
Helps produce cohesionamong objectives andstrategies of different parts of organization
Helps unify internal effortsto move acompany along the chosen strategic path
B k
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Break 2
Tugas kelompok 2: Selama liburan, identifikasi company valuesdari
beberapa pemain utama industri telekomunikasi Indonesia.
KELOMPOK PERUSAHAAN
1,2 PT TELKOM Indonesia
3,4 PT INDOSAT5,6 PT Exelcomindo
7 PT Bakrie Telcom
8 PT Hucthinson