STRATEJİK YÖNETİM - Deneme Sınavı - 4

The starting point of the strategic management actions is the development of a mission, setting a vision, determining the goals and objectives, and creating the organizational values all of which constitute firms’ strategic intent.

One of the critical components of strategic intent is the vision statement. A vision is the compass of businesses and guides them to reach their desired destination in the future. In the strategic management process, a vision statement is first to identify. The vision statement should be clear, understandable, and comprehensive. In this section, the meaning and importance of vision are reviewed, and the development process of the vision statement is provided.

The mission, which is the reason for the existence of a business, is also an important starting point in the strategic management process. It provides a framework or context in which strategies are formulated. In this section, the concept, components, and features of the mission are explained, and mission statement examples are presented

A business model presents how an organization will succeed and includes the factors that essentially define a business. It is a way to make money in a firm’s current business environment to accomplish that mission and achieve its goal

Customer solutions model: This model is used to make money not by selling products, but by selling its expertise to improve the operations of its customers. • Profit pyramid model: This model is a method designed to close niches where an opponent can find a position. • Multi-component system / installed base model: The product is a system, not just one product, with one component providing most of the profits. • Advertising model: This model offers its basic product free to make money on advertising.

Objectives can be divided into financial and strategic objectives, as well as long-term and short-term objectives.

A narrow organizational mission may have a disadvantage that it limits the evaluation of strategic opportunities created by environmental changes

The mission describes why a firm exists and what aims it serves. The mission of an organization seeks answers to the question as to what an organization does, for whom it does, and why it exists.

Key organizational stakeholders that include stockholders, bondholders, employees, customers, the communities in which the company does business, and the public.

A product-oriented business definition focuses on the characteristics of the products sold and market served. As a result, companies should make their business definitions that include the important factors such as customer, product, market, process, and technology etc.

Industry environment

Customers

Legislation

Attitudes to work and leisure

New patents and products

Leading

Scanning

Histograms

To increase efficiency

Bargaining power of unions