Many universities and scholars has doctorate the new mode of strategic management which is called ‘Crafting and Executing Strategy’. Despite of the new approach in developing the strategic plan but many still inquests what is strategy? Some even mistakenly understood or confuse between strategy and tactics. To a bigger surprise, many are still unable to put a right strategy, right business model and link it with the KSF.
Strategy actually deals with the competitive plan and the business approaches that the company shall undertake. On the other hand the business model concern on the cost flowing from the strategy and demonstrate whether the business can be profitable + viable.
After having the business model done, the company has to ensure it is linked to the industrial KSF (Key Success Factor). The business model must be perfectly true to make profit as it is tested with KSF. If the business model is not aligned with the KSF then the business model or the KSF needs some corrective actions.
For that reason this three factors must be in a chain, strategy à business model à KSF. Despite of many people tend to forget KSF or business model; actually all three are crucially important in strategic implementation.
Strategy actually deals with the competitive plan and the business approaches that the company shall undertake. On the other hand the business model concern on the cost flowing from the strategy and demonstrate whether the business can be profitable + viable.
After having the business model done, the company has to ensure it is linked to the industrial KSF (Key Success Factor). The business model must be perfectly true to make profit as it is tested with KSF. If the business model is not aligned with the KSF then the business model or the KSF needs some corrective actions.
For that reason this three factors must be in a chain, strategy à business model à KSF. Despite of many people tend to forget KSF or business model; actually all three are crucially important in strategic implementation.
Sample assignment's format for Public Bank Strategic Analysis:
Slide week 1:
Slide week 2:
Slide week 3:
4 comments:
Dear Prof Zul,
Saya Suzana salah seorang student EDBM2 prof, saya ingin mendapatkan softcopy notes Crafting & Executing Strategy Module 9 full sets dalam BM dan satu lagi slides presentation untuk week 3 & 4 (kerana telah expired)..terima kasih
Dear Prof Zul,
Saya Suzana salah seorang student EDBM2 prof, saya ingin mendapatkan softcopy notes Crafting & Executing Strategy Module 9 full sets dalam BM dan satu lagi slides presentation untuk week 3 & 4 (kerana telah expired)..terima kasih
En Zul, My name is Mohd Sabarudin Talib from EDIM26-19.I'm working on my assignment on "how to develop strategy management".Beside getting info from website,books,magazine,article,discussion and so on, i would appreciate if u could share some ideas on this topic.TQ
Dear Sabarudin,
Please communicate using my e-mail:
zul_1206@yahoo.com.sg
Tq
Sue:
I have reuploaded loaded the slide in this BLOG. On the BM notes you can have the full set from UMCCed by next lecture class. Insyaallah.
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