A presentation on Strategic Management

Name ID

1. Sarif Ahamed Sawon 1202160342. Md. Sourav Hossain 1202160373. Azaaz Munshi 1202160864. Sagor Chandra Podder 1202160175. Tithi Debnath 1202160966. Jannatul Ferdows 1202160207. Razib Hassan 1302160098. Mizanur Rahman 1202160029. Javed Kaysar 120216019

“YO Group”

Policies means by which annual objectives will be

achieved

Where we are now?

Where are we now?

Strategic Management Model

Where we want to go?

How are we going to get there?

the principal benefit of strategic management has been to help organizations formulate better strategies through the use of a more systematic, logical, and rational approach to strategic choice

Benefits of Strategic Management

Communication is a key to successful strategic management

Benefits to a Firms That Does Strategic Management

Enhance Communication

Deeper\ Improve Understanding

Greater Commitment

Result

It allows for identification, prioritization, and exploitation of opportunities.

It provides an objective view of management problems.

Nonfinancial Benefits

It represents a framework for improved coordination and control of activities.

It minimizes the effects of adverse conditions and changes.

Why Some Firms Do No Strategic Planning

1. Lack of knowledge in strategic planning2. Poor reward structures3. Waste of time4. Too expensive 5. Laziness

There are no Opportunity of training in strategic planning so people have very poor knowledge on less experiences in strategic planning.

Lack of knowledge in strategic planning

Poor reward structures When an organization assumes success it often fails to reward success .when failure occurs then the firm may punish.

Some firms belief that planning is not a productive activity so they thought strategy planning means waste of time

Waste of time

Too Expensive

• An organization don’t has budget for strategic planning as the assume it as an expensive activity

People provide less emphasis in strategic planning because its not involved in productive activity.

Laziness

Why firms do no strategic planning

Fear of failure Overconfidence Prior bad experience Self-interest Fear of the unknown

Fear of failure

By not taking action, there is little risk of failure unless a problem is urgent and pressing.

Over confidenceBeing over confident or overestimating experience can bring demise.

Prior bad experiencePeople may have had a previous bad experience with planning, that is, cases in which plans have been long, inflexible, cumbersome or impractical.

When some one has achieved status, privilege or self esteem through effectively using an old systems, he or she often sees a plan as a threat.

Self interest

People may be uncertain of their abilities to learn new skills, of their aptitude with new systems, or of their ability to take on new roles.

Fear of the unknown

1. Intuitive Decision making2. Strategic Plan only satisfy accreditation

requirement3. Treating strategic plan as an event, rather

than process4. Fail to communicate the plan to

employees5. Not allowing enough time

Pitfalls in Strategic Planning

Top managers make many intuitive decision that conflict with the formal plan. It is not guiding the actions of the staff.

Intuitive Decision Making

Strategic planning only satisfy accreditation and regulatory requirements instead of adding value to the firm’s processes. It does not gather information necessary to strategy thinking.

Strategic plan only satisfy accreditation requirement

Some managers think strategic plan as an annual static event. They are unable to treat it as an changeable process.

Treating strategic plan as an event, rather than process

Fail to communicate the plan to employeesSome employees in the organization are unconscious about what they are working for and they also do not know what the strategic plan is ?

Not allowing enough timeSome management teams want to get their planning process just as quickly as possible. They run through each of the process steps as quickly as they can.