Basic Strategy Evaluations...

Planning- The process of defining future the period objectives.

Objectives- Statements that outlines what the company is trying to achieve 

Three basic strategy evaluations 

1. Reviewing internal and external factors
2. Measure performance
3. Taking corrective action 

S.W.O.T

Strengths

• Teach
• Pavent
• Tutor
• Activities
• Clubs 

The process to evaluate the " over all health" of a company.

Weaknesses
Opportunities
Threats

Planning Process- Formulate the plan, implement evaluations.

1. What is the appropriate company structure 
2. motive employees 
3. develop short- range goals
4. Establish functional strategies 

Re-Organizing- A company can be very expensive. '

Evaluate- Monitor the companies process. 

1. Does it need re-vising (change)? 
2. What problems might happen? 

S.M.A.R.T

Aim: what are policies, Procedure, and rules?

S- Specific
M- Measurable
A-Atainable
R-Realistic
T-Timely

Setting goals- Concise statements that provide direction for employees and sets the standards for achieving the companies strategic plan.

Policies- Broad general guides to action that establish boundaries which employees operate.
Procedure- A detail series of relate steps written to implement a policy
Rule- Detail specific and definite corporate actions that employees must follow.
_________________________
|{Experiences
|{Salary
|{Profit 
|_______________________ 3 times the original price

The process to evaluate the... "over all health" of a company. 

Strategic Management

Strategic Management - Planning at the highest level of the company.

• Develop- The Plan
• Implement- DO IT! 
• Evaluate- CHECK IT!  

Formulating- Obtain a clear understanding of the current position of the company.

• Identify the mission
• what were the past and pleasant strategies. 
• Diagnose the company's past and present performance
• Set objective for the companies operation. 

Identify Past and Present Strategies 

1. Has it been developed yet?
2. Can it be analyze?
3. Do you have data?

Diagnose Performance 

1. How is the company preforming?
2. How has it Preformed?
3. Is the trend move up or down? 

Functional Strategies

Business Strategies - Plans that pertain to single departments with in a company.

1. Overall Cost Leadership- Designed to produce and deliver a product on service for a lower cost than the competition. 
2. Differentiation- A strategy to make the P/S Unique customers spend more. {Juuar Autos) 
3. Focus- Directs marketing and Sales towards a small segment of the market ( Federal express) 

Functional Strategies 

Short-Range 

Practical- Implementation

• Sales and marketing 
• Production- Quickly on time
• Company Expands
• R&D Develop, Improve to release coset 
• Human Resources needs 

Mission Statement.

Fortune 500 Mission statements 

Aim: how does a mission statement motivate a employee?

Summary of an aim and values to guide produces and good decision making. 

AFLAC COMPANY 

- To combine agressive strategic marketing quality products and services at competitive prices to provide the best insurance value for consumers.

AMERICAN STANDARD COMPANY - 

{because it gives a sense of best communication other companies are a competitive company.} 

American standards mission is to "be the best in the eyes of our costumers, employees and Share holders."

AGCO COMPANY 

Profitable growth through superior customer service innovation quality and commitment.

Mission Statement strategies

1. Visionary- What the business aspires to be 
2. Broad- Do not use too narrow of what the company does. 
3. Realistic- Practical/Workable
4. Motivational- Inspires you 
5. Short & Concise (should be able to fit on a T-shirt!) 
6. Easily Understood- Use plain language (NO SLANG!) 

Review of Lee Iacocca

Lee Iacocca believed in only three things...

• People
• Product 
• Profit 

Lee Iacocca was known for....

• FORD- Mustang
•  "56 for 56" 
• Japanese competition 
• Getting Chrysler out of bankruptcy
• Merged with AMC/JEEP!!!! 

Management style: Management styles are characteristic ways of making decisions and relating to subordinates. Different management styles can be employed. 

"Good leaders know how to follow their people" 

"Management is nothing more than motivation other people." 

The N'cs of leader ship are..

• Communication 
• Character
• Competent 
• Charisma 
• Common Sense 
• Courage 
• Convict 
• Creativity 
• Curiosity