Quản trị kinh doanh - Current trends in strategic management

Current Trends in Strategic ManagementThe New EconomyNew Directions in Strategic ThinkingRedesigning the OrganizationNew Modes of LeadershipOUTLINEThe Turbulent 21st CenturyCollapse of New EconomyDot.com bubble burstsTMT recessionCorporate Scandals Enron, WorldCom, Parmalat Jack Welch’s retirement package War Invasion of Afghanistan & IraqCivil was in Congo, Liberia, Sudan Age of DisbeliefThe Curse of Terrorism Sept. 11, 2001Suicide bombings in Israel, Iraq, Saudi Arabia, Turkey, AfghanistanFear of DiseaseSARS, Mad Cow, Bird FluUnstable CurrenciesUS$ declines by >50% against Euro 2002-04 Decline of MultilateralismCollapse of Doha round Trade wars between US, EU, ChinaWeakening of UNInternationalcompetition intensifies China as Workshop of the World Outsourcing to LDCsSource: Bureau of Labor StatisticsUS Labor Productivity: Changes in Non-Farm Output per Hour Worked from Year ago Quarter, 1995-2003Return on Equity of US Manufacturing Corporations, 1990-2003Source: US Bureau of the CensusThe value of mergers and acquisitions worldwideSource: Thomson Financial Securities DataKey Trends of the 1990s:Quest for shareholder valueAdjusting to increased turbulence & more intense competitionInfluential Strategy Concepts:Modern financial analysis —shareholder value, economic profit, option theoryCore competences and intangible assetsDynamically competitive markets —“hypercompetition”Competitive advantage through alliances, networks, and standardsMajor Themes of Business Strategy:Cost cutting—squeezing overhead, business process re- engineering, increasing labor productivityOutsourcing/refocusing/ divestmentPerformance management and incentive alignment Directions in Strategic Management Practice—Trends of the 1990s Future Sources of ProfitLimits of downsizing/cost cuttingWhere are future sources of profit?TechnologyContinued advances in ICTForces Shaping Company Strategies 2001-04Concepts & TheoriesResources & capabilities as basis for competitive advantageKnowledge-based theory of the firmOption theoryComplexity theoryThe Business EnvironmentUncertaintyStalling of economic liberalizationIntense competitionDemands of societySocial & environmental responsibilityEthics & fairnessQuest for meaning STRATEGYMultiple competitive advantages/multiple capabilitiesInnovation / New Product Development / New Business DevelopmentAlliances & networksMANAGEMENT SYSTEMS Knowledge management (incl. best-practice transfer) Redesigning incentive systems Rethinking performance management Capturing human creativityEmerging Developments ORGANIZATION STRUCTURE Reconciling flexibility & integration Modular structures Multidimensional structures Informal organization & self-organizationThe Need to Redesign OrganizationsTHE PASTTHE FUTUREEmphasis on controlEmphasis on co-ordinationDecisions located centrallyDecisions located where relevant knowledge existsSimple structures,unified line of commandMultidimensional structuresDiffused authority, but clear responsibilitiesSingle performance goalMultiple performance goalsOrganization by designSelf organizationEmerging Organizational FormsProcess-based Organizing around business processesorganizations Organizing around corporate processes - entrepreneurial process - competence building process - renewal processFrom unitary to parallel Separate coordination structures forstructures different processes. E.g. 3M’s product development structure; separate structures for TQM and change managementProject-based organization E.g. engineering cos., consulting firms, also manufacturing cos. e.g. Oticon Network and virtual E.g. electronics in Silicon Valley, clothingorganization and packaging equipment in ItalyOrganizing for capability Shifting emphasis of organizationdevelopment design from control to coordination THE REQUIRED COMPETENCIES OF BUSINESS LEADERS business literacy creativity cross-cultural effectiveness empathy flexibility proactivity problem-solving relation-building teamwork vision THE LEADERSHIP NEEDS OF ORGANIZATIONSThe ability to: build confidence build enthusiasm cooperate deliver results form networks influence others use informationNew Models of Leadership:What Competencies do Top Managers Need?