Strategic Aviation Management 1 | My Assignment Tutor

190.211- Aviaiton Strategic Management 1The Essence of Strategy190.211190.211- Strategic Aviation Management 1What Strategy Is• Many definitions exist to define “Strategy”Textbook definition• Strategy is the behaviour of an organisation (Flouris &Oswald, 2006)Other definition• Strategy is the direction and scope of an organisationover the long-term: which achieves advantage for theorganisation through its configuration of resourceswithin a challenging environment, to meet the needs ofmarkets and to fulfil stakeholder expectations190.211- Strategic Aviation Management 2What Strategy Is (cont.)Direction:• Where is the business trying to get to in the longterm?Scope:• Which markets should a business compete in andwhat kind of activities are involved in such markets?Advantage:• How can the business perform better than thecompetitors in the markets?190.211- Strategic Aviation Management 31 2 3190.211- Aviaiton Strategic Management 2What Strategy Is (cont.)Resources:• What resources (skills, assets, finance, relationships,technical competence, facilities) are required in orderto be able to compete?Environment:• What internal and external (environmental) factorsaffect the businesses’ ability to compete?Stakeholders:• What are the values and expectations of those whohave power in and around the business?190.211- Strategic Aviation Management 4Levels of StrategyCorporate strategy: The overall purpose and scope ofbusiness is to meet stakeholder expectations, oftenstated in a “mission statement”Business unit strategy: How a business competessuccessfully in a particular marketOperational strategy: How each part of the business isorganised to deliver the corporate and business-unitlevel strategic direction190.211- Strategic Aviation Management 5The Essence of StrategyFind ways to achieve competitiveadvantageBeing unique190.211- Strategic Aviation Management 64 5 6190.211- Aviaiton Strategic Management 36 Steps of Strategic Management ProcessEstablish corporate values through a vision and a missionSet corporate objectivesDetermine strategic alternativesSelect strategy to support corporate mission and objectivesImplement and execute strategyEvaluate, monitor and adjust190.211- Strategic Aviation Management7The Strategic Management Process is On-Going The aviation industry is a very competitive, everchanging environment Managers must continually monitor and re-monitorboth internal and external influences so thatchanges can be made to the strategic direction asneeded190.211- Strategic Aviation Management 8Four Strategic Positions of Any Businessesin The MarketLeader • Act as the market leaderChallenger • Challenge the market leader• Follow others (i.e., Leader and/orFollower Challenger)• Has its own strengths or coreNiche competency190.211-Strategic Aviaiton Management 97 8 9190.211- Aviaiton Strategic Management 4Categorising Four Positions Within the Matrix CompanyfocusedCompetitionfocusedPushes theboundariesLeaderChallengerStays withinboundariesNicheFollower 190.211-Strategic Aviaiton Management 1010

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