MODUL 01
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
TUJUAN BELAJAR
Know What it means by Strategy, including Strategy and the Quest for
Competitive Advantage, how to Identify a Company’s Strategy, Why a
Company’s Strategy Evolves Over Time, and that A Company’s Strategy Is Partly
Proactive and Partly Reactive
Understand the Relationship of Strategy and Ethics
Understand the Relationship Between a Company’s Strategy and Its Business
Model
Know What Makes a Strategy a Winner.
Comprehend Why Are Crafting and Executing Strategy Important.
KUTIPAN
“Without a strategy the organization is like a ship without a rudder.”
(Joel Ross and Michael Kami)
1. STRATEGI
(STRATEGY)
Thinking Strategically: The Three Big Strategic Questions
1. What’s the company’s present situation?
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 1/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
2. Where does the company need to go from here?
Business(es) to be in and market positions to stake out
Buyer needs and groups to serve
Direction to head
3. How should it get there?
A company’s answer to “how will we get there?” is its strategy
What Do We Mean By “Strategy”?
Consists of competitive moves and business approaches used by managers
to run the company
Management’s “action plan” to
Grow the business
Attract and please customers
Compete successfully
Conduct operations
Achieve target levels of organizational performance
The Hows That Define a Firm's Strategy
Choosing the “Hows” of Strategy
Strategic choices about “how” are based on
Trial-and-error organizational learning about what has worked and what has not
worked
Management’s appetite for taking risks
Managerial analysis and strategic thinking about how best to proceed, given
market conditions and the company’s circumstances
In choosing a strategy, management is in effect saying,
“Among all the many different business approaches and ways of
competing we could have chosen, we have decided to employ this
particular combination of competitive and operating approaches in moving
the company in the intended direction, strengthening its market position,
and competitiveness, and boosting performance.”
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 2/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Key Elements of a Successful Strategy
Developing a successful strategy hinges on making competitive moves aimed
at
Appealing to buyers in ways to set the enterprise apart from rivals and
Carving out its own market position
Involves developing a distinctive “aha” element to
Attract customers and
Produce a competitive edge
Key Elements:
Comcast’s Strategy
Roll out high-speed Internet or broadband service to customers via cable
modems
Promote a new video-on-demand service to allow digital subscribers to
watch TV programs whenever they want
Promote a video-on-demand service so digital customers can order and
watch pay-per-view movies
Partner with Sony, MGM, and others to expand movie offerings
Use VoIP technology to offer subscribers Internet-based phone service at a
fraction of the cost charged by others
Use video-on-demand and CDV offerings to combat mounting competition
from satellite TV providers
Employ a sales force to sell advertising to businesses that were shifting
advertising dollars from sponsoring network programs to sponsoring cable
programs
Significantly improve customer service
For Discussion: Your Opinion
From your perspective as a cable or satellite service consumer, does Comcast’s
strategy (as described in Illustration Capsule ---) seem to be well-matched to
industry and competitive conditions?
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 3/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Does the strategy seem to be keyed to a cost advantage, differentiating
features, serving the unique needs of a niche, or developing resource strengths
and competitive capabilities rivals can’t imitate or trump (or a mixture of these)?
What is there about Comcast’s strategy that can lead to sustainable competitive
advantage?
Strategy and the Quest for Competitive Advantage
The heart and soul of any strategy are the actions and moves in the marketplace
that a company makes to strengthen its competitive position and gain a
competitive advantage over rivals
A creative distinctive strategy that sets a company apart from rivals and yields a
competitive advantage is a company’s most reliable ticket to above average
profitability
Competing with a competitive advantage is more profitable than competing
with no advantage
Competing with a competitive disadvantage nearly always results in belowaverage profitability
A Powerful Strategy Leads to Sustainable Competitive Advantage
A company achieves sustainable competitive advantage when an attractive
number or buyers prefer its products/services over those of rivals and when the
basis for this preference can be maintained over time
Its nice when a strategy produces a temporary competitive edge but a durable
edge over rivals greatly enhances a company’s prospects for winning in the
marketplace and realizing above-average profits
Four “Best” Strategic Approaches to Building Sustainable Competitive
Advantage
Being the industry’s low-cost provider (a cost-based competitive advantage)
Incorporate differentiating features (a “superior product” type of competitive
advantage keyed to higher quality, better performance, wider selection, valueManajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 4/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
added services, or some other attribute)
Focusing on a narrow market niche (winning a competitive edge by doing a better
job than rivals of serving the needs and preferences of buyers comprising the
niche)
Developing expertise and resource strengths not easily imitated or matched by
rivals (a capabilities-based competitive advantage)
Competitive Advantage Examples
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 5/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Fig. --- Identifying a Company’s Strategy
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 6/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Test Your Knowledge
A company’s strategy and its quest for competitive advantage are tightly
related because
A. a company’s strategy determines whether it will have lower or higher
costs than rivals and thus be at a competitive advantage or disadvantage.
B.
competitive advantage is essential to having a profitable business
model.
C.
choosing a competitive advantage to pursue also helps a company
choose which business model is most appropriate.
D.
competitive advantage enables a company to achieve its strategic
objectives.
E.
a strategy that leads to sustainable competitive advantage is a
company’s most reliable means of achieving above-average profitability
and financial performance.
Why Do Strategies Evolve?
A company’s strategy is a work in progress
Changes may be necessary to react to
Shifting market conditions
Technological breakthroughs
Fresh moves of competitors
Evolving customer preferences
Emerging market opportunities
New ideas to improve strategy
Crisis situations
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 7/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Fig. --- A Company’s Strategy Is Partly Proactive and Partly Reactive
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 8/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Crafting Strategy Is an Exercise in Entrepreneurship
Strategy-making is a market-driven activity involving
Studying market trends and competitors’ actions
Keen observation of customer needs
Scrutinizing business possibilities based on new technologies
Building firm’s market position via acquisitions or new product introductions
Pursuing ways to strengthen firm’s competitive capabilities
Proactively searching out opportunities to
Do new things or
Do existing things in new or better ways
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 9/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
2. STRATEGI DAN ETIKA
(STRATEGY AND ETHICS)
Linking Strategy With Ethics
Ethical and moral standards go beyond
Prohibitions of law and the language of “thou shalt not”
to issues of
Duty and “right” vs. “wrong”
Ethical and moral standards address “What is the right thing to do?”
Two criteria of an ethical strategy:
Does not entail actions and behaviors that cross the line from “should do” to
“should not do” and “unsavory” or “shady” and
Allows management to fulfill its ethical duties to all stakeholders
A Firm’s Ethical Responsibilities to Its Stakeholders
Role of Senior Executives: Linking Strategy with Ethics
Forbid pursuit of ethically questionable business opportunities
Insist all aspects of company strategy reflect high ethical standards
Make it clear all employees are expected to act with integrity
Install organizational checks and balances to
Monitor behavior
Enforce ethical codes of conduct
Provide guidance to employees in gray areas
Display genuine commitment to conduct business activities ethically
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 10/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Test Your Knowledge
A company's strategy can be considered “ethical”
A. if all of its different actions and elements are legal and in compliance
with governmental rules and regulations.
B.
so long as its actions and behaviors can pass the test of “moral
scrutiny” and are aboveboard in the sense of not being shady or
unconscionable, injurious to others, or unnecessarily harmful to the
environment.
C.
only if all elements of the strategy are in accord with what is
generally considered as being in the overall best interests of society at
large.
D.
so long as religious authorities and noted ethics experts find
nothing “wrong” in the company’s actions.
E.
if it is in compliance with the company’s code of ethics and has been
approved by the company’s chief ethics officer.
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 11/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
3. HUBUNGAN ANTARA PERUSAHAAN DAN MODEL USAHA
(RELATIONSHIP BETWEEN A COMPANY AND BUSINESS MODEL)
What Is a Business Model?
A business model addresses “How do we make money in this business?”
Is the strategy capable of delivering good bottom-line results?
Do the revenue-cost-profit economics of the strategy make good business
sense?
Look at revenue streams the strategy is expected to produce
Look at associated cost structure and potential profit margins
Do resulting earnings streams and ROI indicate the strategy makes sense and
the company has a viable business model for making money?
Relationship Between Strategy and Business Model
Strategy . . .
Deals with a company’s competitive initiatives and business approaches
Business Model . . . Concerns whether revenues and costs flowing from the
strategy demonstrate a business can be amply profitable and viable
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 12/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
Microsoft’s Business Model
Red Hat’s Business Model
Test Your Knowledge
The nitty-gritty issue surrounding a company’s business model is whether
A. the strategy is capable of producing sustainable competitive advantage.
B.
it matches the company’s external and internal situation.
C.
the chosen strategy makes good business sense from a money-
making perspective.
D.
the company’s strategy and strategic moves are mostly proactive.
E.
the company’s strategy stands a really good chance of hitting a
home-run in the marketplace.
For Discussion: Your Opinion
Who has the best business model – Microsoft or Red Hat?
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 13/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
4. WINNING STRATEGY
Tests of a Winning Strategy
GOODNESS OF FIT TEST
How well does strategy fit the firm’s situation?
COMPETITIVE ADVANTAGE TEST
Does strategy lead to sustainable competitive advantage?
PERFORMANCE TEST
Does strategy boost firm performance?
Other Criteria for Judging the Merits of a Strategy
Internal consistency and unity among all pieces of the strategy
Degree of risk the strategy poses as compared to alternative strategies
Degree to which the strategy is flexible and adaptable to changing circumstances
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 15/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)
5. IMPORTANCE OF CRAFTING AND EXECUTING STRATEGY
Why Is Strategy Important?
A compelling need exists for managers to proactively shape how a firm’s
business will be conducted
A strategy-focused firm is more likely to be a strong bottom-line performer
than one that views strategy as secondary
Good Strategy + Good Strategy Execution = Good Management
Crafting and executing strategy are core management functions
Among all things managers do, nothing affects a company’s ultimate success or
failure more fundamentally than how well its management team
Charts a company’s direction,
Develops competitively effective strategic moves and business approaches, and
Pursues what needs to be done internally to produce good day-in/day-out
strategy execution
Manajemen Strategis
(Strategic Management, SMG)
Indra Almahdy
MODUL 01 – 16/16
STRATEGI DAN PROSES MANAJEMEN STRATEGIS
(STRATEGY AND STRATEGIC MANAGEMENT PROCESS)