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Session 1: Chp 1

Stages of Strategic Management


Strategic Management 1. Strategy Formulation
- Mengembangkan Vission & Missions
Essentials - Identifikasi External Opportunities &
Chapter Key Points:
Threats
● Strategic Management Process
- Menentukan Internal Strengths &
● 3 Stages of Strategy
Weakness
● Integration of Analysis & Intuition
- Menentukan Long-Term Objectives
● Key Terms in Strategic Management
- Membuat Alternative Strategies
● Benefits of Strategic Management
- Memilih Strategi Spesifik untuk ditekuni
● Reasons why firms don’t do Strategic
Planning
2. Strategy Implementation
● Pitfalls in Strategic Planning
→ Memerlukan perusahaan untuk
● Connection between Business vs Military
meng-establish objektif tahunan,
Strategy
membuat policies, memotivasi
karyawan, mengalokasi resources agar
Defining Strategic Management
strategi yang dibuat bisa dieksekusi.
Strategic Management → art and science of
→ “ACTION STAGE”
formulating, implementing, and evaluating
Strategy formulation decision
cross-functional decisions that enable an
- Bisnis apa yang akan di Enter
organization to achieve its objectives.
- Bisnis apa yang akan di
Abandon
[INDO] seni dan sains dari memformulasi,
- Ekspansi Operations vs Diversify
mengimplementasi, dan mengevaluasi
- Masuk international market?
keputusan antar-fungsi yang membantu
- Merge/Form Joint Venture?
organisasi mencapai objektifnya.
- How to avoid Hostile Takeover

Strategic Management → terms in academic


3. Strategy Evaluation
vs
→ Menentukan apakah strategi yang
Strategic Planning → terms in business
dilakukan berlangsung dengan baik atau
tidak efektif.
Strategic Plan = Company’s Game Plan
→ 3 Aktivitas Fundamental
➔ Results from tough managerial choices
1. Review External & Internal
among good alternatives, signals
factors yang menjadi basis
commitment to specific markets,
strategi saat ini
policies, procedure, and operations
2. Ukur performance perusahaan
➔ Hasil dari keputusan manajerial yang
3. Ambil corrective actions
diambil dari beberapa alternatif terbaik
yang menunjukkan komitmen ke pasar,
regulasi, prosedur, dan operasional yang
spesifik.
Key Terms in Strategic Management - Geographic Expansions
1. Competitive Advantage - Diversification
→ Aktivitas apapun di perusahaan yang - Acquisition
dilakukan lebih baik dari kompetitor - Product Development
→ Resources apapun yang perusahaan - Market Penetration
punya tapi kompetitor gapunya - Retrenchment
2. Strategists - Divestiture
→ individu yang paling bertanggung - Liquidation
jawab dalam sukses atau gagalnya - Joint Ventures
sebuah organisasi Basic SWOT Matrix Format:
→ membantu organisasi gather,
analyze, and organize informasi.
3. Vision & Mission Statements
→ Visi = What do we want to become?
→ Misi = What is our business?
4. External Opp & Threats
● Economic
● Social
● Cultural
● Demographic
● Environmental
● Political
● Legal
● Governmental
● Technological
● Competitive Trends & Events
yang dapat mempengaruhi perusahaan
secara signifikan 8. Annual Objectives
5. Internal Strengths & Weaknesses → Short-term milestones to reach
→ Aktivitas perusahaan yang dapat long-term objectives
dikontrol performanya baik/buruk → Measurable, quantitative,
→ Determined relative to competitors challenging, realistic, consistent,
6. Long-Term Objectives prioritized
→ Hasil spesifik yang perusahaan ingin → Established at corporate, divisional,
capai untuk memenuhi misi dasarnya. functional levels in organization
→ Long-term = >1 tahun 9. Policies
→ Harus challenging, measurable, → Cara bagaimana annual objectives
consistent, & clear dapat tercapai.
7. Strategies
→ Cara bagaimana Long Term
Objectives bisa tercapai.
→ Termasuk:
Benefits of Strategic Management - Use SP to gain control over decisions &
→ Allows organization to be more proactive resources
than reactive in shaping its future - Do SP only to satisfy requirements
→ Allows organizations to initiate & influence - Too hastily moving from mission to
activities daripada responds to, untuk strategy formulation
menentukan takdir perusahaan sendiri. - Not communicating plan to employees
- Top managers make intuitive decisions
conflicting with plan
- Top mgmt not actively supporting the
planning process
1. Financial Benefits - Not using plans as standard for
Shows significant Improvement in: measuring performance
- Sales - Delegate planning to “planner” (not
- Profitability involving managers)
- Productivity - Not involving key employees in all
2. Nonfinancial Benefits phases of planning
- Enhanced awareness of - View planning =
external threats unnecessary/unimportant
- Improve understanding of - View planning activities = comprised of
Competitors’ strategies independent parts
- Increase employee productivity - Becoming so engrossed in current
- Reduces resistance to change problems = insufficient/planning isn't
- Clearer Understanding of done.
performance-reward - Too formal = blocks flexibility &
relationship creativity

Why Some Firms Do No Strategic Planning Business vs Military Strategy


1. No formal training of stratman Business → assumption of competition
2. No understanding/appreciation of Military → assumption of conflict
benefits in planning Both = adapt to change & constantly improve.
3. No monetary rewards in planning
4. No punishment for not planning Sun Tzu’s Art of War
5. Too busy “firefighting” (resolving Writings
internal crises)l Know your enemy and
6. View planning = waste of time know yourself, in a
7. Laziness hundred battles you
8. Content with current success will never be defeated.
9. Overconfidence
10. Prior bad experience with stratman Chapter Summary →

Pitfalls in Strategic Planning


Session 2: Chp 5
Vision & Mission Analysis
Also called:
- Creed statement
Chapter Key Points:
- Statement of purposes
● Core Values Statements
- Statement of philosophy
● Nature & Role of Vision Statement
- Statement of beliefs
● Characteristics of Vision Statement
- Statement of business principles
● Nature & Role of Mission Statement
● Characteristics of Mission Statement
Characteristics of Mission Statement
● Components of Mission Statement
● Broad in scope→ cakupannya luas (no
● Benefits of clear vision & mission statement
monetary amounts, numbers, %, ratios,
objectives)
Core Value Statement
● <150 words
→ nilai-nilai perusahaan
● Inspiring
→ specifies a firm's commitment to integrity,
● Identify firm’s product utility
discipline, equal employment opportunity,
● Reveals firm is socially responsible
teamwork, accountability, continuous
● Reveals firm is environmentally
improvement, or other attributes.
responsible
● Reconciliatory (friendly)
Vision Statement
● Enduring
→ “What do we want to become?”
● Includes 9 components
Characteristics:
- Short, preferably one sentence
Mission Statement Components
- As many managers as possible should
1. Customers → who?
have input into developing the
2. Products/Services → what prod/serv.?
statement
3. Markets → where geographically?
- Customer oriented/perspective
4. Technology → is technologically current?
- Reveal the type of business the firm
5. Concern for Survival/Growth/Profits → is it
engages.
committed to growth & financial
soundness?
6. Philosophy → basic beliefs, values,
aspirations, ethical priorities
7. Distinctive Competence → major
competitive advantage?
Mission Statement
8. Public Image → social, community,
→ “What is our business?”
environmental concerns?
→ What an organization wants to be
9. Concern for Employees → employees =
→ Whom it wants to serve
valuable asset?
→ Deklarasi dari organization’s “reason for
being”
→ Esensial dalam menetapkan objektif secara
efektif dan memformulasi strategi
6. Promote a sense of shared expectations
among all managers and employees.
7. Project a sense of worth and intent to
all stakeholders.
8. Project an organized, motivated
- organization worthy of support.
9. Achieve higher organizational
performance.
10. Achieve synergy among all managers
and employees

Developing Vision & Mission Statement


● Step 1: Pilih beberapa contoh artikel
tentang statement visi misi dan suruh
Importance of Vision & Mission Statements
managers baca
- Make sure all employees/managers
● Step 2: Minta manager siapin sendiri
understand the firm's purpose/reason
visi misi buat perusahaan
for being.
● Step 3: Top Management compile
- Provide basis for prioritization of key
kumpulan statement ke satu dokumen
internal & external factors to formulate
dan bagiin ke seluruh managers
strategies
● Step 4: Request modifikasi, tambahan,
- Provide basis for allocation of resources
pengurangan yang dibutuhkan dari
- Provide basis for organizing: work, dept,
statement dan meeting untuk revisi
activities, & segments on a common
dokumen bareng-bareng.
purpose

Benefits of Clear Mission & Vision


1. Achieve clarity of purpose among all
managers and employees.
2. Provide a basis for all other strategic
planning activities, including internal
and external assessment, establishing
objectives, developing strategies,
choosing among alternative strategies,
devising policies, establishing
organizational structure, allocating
resources, and evaluating performance.
3. Provide direction.
4. Provide a focal point for all stakeholders
of the firm.
5. Resolve divergent views among
managers.
Key External Forces
Session 3: Chp 7
The AQCD Tes
External Assessment When identifying and prioritizing key external
Learning Objectives: factors in strategic planning, the following 4
● Describe the nature and purpose of an factors are important:
external assessment in formulating 1. Actionable
strategies. 2. Quantitative
● Identify and discuss 10 external forces 3. Comparative
that impact organizations. 4. Divisional
● Explain Porter’s Five-Forces Model and The AQCD is a measure of the quality of an
its relevance in formulating strategies. external factor
● Describe key sources of information for
identifying opportunities and threats. External forces can be divided into five broad
● Discuss forecasting tools and categories:
techniques. 1. economic forces
● Explain how to develop and use an - Shift economy
External Factor Evaluation (EFE) Matrix. - Inflasi, GDP, interest, import &
● Explain how to develop and use a export, fluktuasi harga, banyak
Competitive Profile Matrix (CPM). bgt

External Audit
- berfokus pada mengidentifikasi dan
mengevaluasi tren dan peristiwa di luar
kendali satu perusahaan
- mengungkapkan peluang dan ancaman
-
utama yang dihadapi organisasi
sehingga manajer dapat merumuskan
strategi untuk memanfaatkan peluang
dan menghindari atau mengurangi
dampak ancaman
- Purpose dari external audit:
a. Identifikasi key variables that
offer actionable responses 2. social, cultural, demographic, and
b. Perusahaan dapat bersikap environmental (SCDE) forces
offensive/defensive yang bisa - Shaping the way people live,
memaksimalkan opportunity & work, produce, consume
minimalin threats - Number of marriages, divorces,
births, deaths
- Banyak populasi berdasarkan
ras, umur, geografis
- Social media pervasiveness - Dari yang dulu gada, sekarang
banyak CTO dan CIO

5. competitive forces
- Determine competitor’s SWOT,
objectives, and strategies

Porter’s Five Forces

3. political, governmental, and legal


forces
- Peraturan dan regulasi
- Tariffs

1. Rivalry among existing competitor →


most powerful of the five forces & fokus
-
ke competitive advantage dan strategi
dibandingkan perusahaan lain
→ Condition that cause high rivalry
among competing

4. Technological forces
- Teknologi yg baru-baru buat
analisis, print, robotik, AI
mampu mempengaruhi
planning decision perusahaan

2. Threat of new entrants


barriers to entry (important)& quality,
pricing, marketing can overcome
barriers
3. Potential development of substitute 2. Weight from 0.0 to 1.0
products 3. Rate the effectiveness of current
pressure increase when strategies from 1-4
- harga substitusi menurun 4. Multiply wight rating
- consumer’s switching cost juga 5. Sum weighted scores
menurun
4. Bargaining Power of Suppliers
bertambah ketika :
- few suppliers
- few substitutes
- costs switching raw materialnya
high
backward integration is gaining control
or ownership of suppliers
5. Bargaining power of Consumers
- volume pembelian
mempengaruhi kompetisi
- consumer power tinggi ketika
produk standard /
undifferentiated

Sources of External Information


- Unpublished
termasuk customer survey, riset pasar,
speech di shareholder’s meeting,
interview, tv program, conversation
with stakeholders
- Published
jurnal, report, government documents,
abstrak, books, koran, manual,
directories

EFE Matrix (External Factor Evaluation)


→ Factors:
- Social - Cultural CPM (Competitive Profile Matrix)
- Demographic - Economic → identifikasi strength & weakness kompetitor
- Environmental - Political dan merelasikan kepada strategi perusahaan
- Governmental - Legal → critical success factors include internal &
- Technological - competitive external
-
→ Steps:
1. List 20 key external factors
Key Internal forces : Distinctive competencies
Session 4 : chp 6 ● Kekuatan perusahaan yang tidak dapat
Internal assessment dengan mudah ditandingi atau ditiru oleh
pesaing
● keunggulan kompetitif melibatkan
Learning Objectives
pengambilan keuntungan dari kompetensi
● Describe the nature and role of an internal
khusus
assessment in formulating strategies
● Discuss the nature and role of management
Function of management :
in formulating strategies.
1. Planning : forecasting, establishing
● Discuss the nature and role of marketing in
objectives, devising strategies, and
formulating strategies.
developing policies
● Discuss the nature and role of finance and
2. Organizing : organizational design, job
accounting in formulating strategies.
specialization, job descriptions, span of
● Discuss management information systems
control, coordination, job design, and job
(MIS) in terms of formulating strategies.
analysis
● Explain how to develop and use an Internal
3. Motivating : leadership, communication,
Factor Evaluation (IFE) Matrix.
work groups, behavior modification,
delegation of authority, job enrichment, job
The Process of Performing an Internal Audit
satisfaction, needs fulfillment,
● Requires gathering, assimilating, and
organizational change, employee morale,
prioritizing information about the firm's
and managerial morale
management, marketing, finance,
4. Controlling : quality control, financial
accounting, production / operations,
control, sales control,inventory control,
research and development (R and D), and
expense control, analysis of variances,
management information systems
rewards, and sanctions
operations
● memahami bagaimana pekerjaan,
Production / operations
departemen, dan divisi mereka sesuai
- semua aktivitas yang mengubah input
dengan keseluruhan perusahaan
menjadi barang dan jasa
- Berhubungan dengan input, transformasi,
The Resource-Based View (RBV) Approach
dan output yang bervariasi antar industri
● sumber daya internal lebih penting bagi
dan pasar.
perusahaan daripada faktor eksternal dalam
- Operation : daily activities
mencapai dan mempertahankan
- Production : mengubah input jadi output
competitive advantage
● Sumber daya :
Integrating strategy and culture
○ tangible
- Organizational culture secara signifikan
○ intangible
mempengaruhi planning activities.
● Untuk dapat bervalue, sumber daya harus
- etos kerja yang kuat atau keyakinan yang
(empirical indicator) :
sangat etis, maka manajemen seringkali
○ Rare
dapat dengan cepat dan mudah
○ Hard to imitate
menerapkan perubahan.
○ Not easily substitute
- Organizational culture → a pattern of
behavior yang telah dikembangkan oleh
sebuah organisasi ketika belajar untuk
mengatasi masalah adaptasi eksternal dan 4. Promoting Products
integrasi internal dan yang telah bekerja ● Includes many marketing activities, such as
cukup baik untuk dianggap valid dan untuk advertising, sales promotion, public
diajarkan kepada anggota baru sebagai cara relations, personal selling, and direct
yang benar untuk memahami, berpikir, dan marketing.
merasakan. ● Common promotional tools designed to
inform consumers about products include
Marketing TV advertising, magazine ads, billboards,
● the process of defining, anticipating, websites, and public relations, among
creating, and fulfilling customers’ needs and others.
wants
5. Placing or Distributing products
Kegiatan marketing mencakup: Channel of distribution
1. Marketing research and target market analysis ● Perantara yang membawa produk dari
Marketing research → how to marketing produsen ke konsumen akhir.
● mengumpulkan, merekam, dan ● Perantara ini memiliki nama seperti
menganalisis secara sistematis data wholesalers, retailers, brokers, facilitators,
tentang masalah yang berkaitan agents, vendors, or simply distributors.
dengan pemasaran barang dan
layanan The functions of finance/accounting
● dapat mengidentifikasi kekuatan
dan kelemahan comprise three decisions:
Target market analysis → cus needs 1. Investment decision - capital budgeting
● Pemeriksaan dan evaluasi alokasi dan realokasi modal dan sumber
kebutuhan dan keinginan daya untuk proyek, produk, aset, dan divisi
konsumen. organisasi
2. Product planning 2. Financing decisions
● mencakup kegiatan : menentukan struktur modal terbaik untuk
test marketing, product and brand perusahaan dan termasuk memeriksa
positioning, devising warranties, packaging, berbagai metode dimana perusahaan dapat
determining product options, features, meningkatkan modal
style, and quality, deleting old products; 3. Dividend decisions
and providing for customer service. - masalah-masalah seperti
● Penting untuk perusahaan yang mengejar persentase pendapatan yang
product development atau diversifikasi dibayarkan kepada pemegang
3. Pricing Products saham, stabilitas dividen yang
● Refers to deciding the amount an individual dibayarkan dari waktu ke waktu,
must exchange to receive a firm’s product dan pembelian kembali atau
offering. → berapa yang harus dikeluarkan penerbitan dari stok
oleh seseorang untuk mendapatkan - menentukan jumlah dana yang
barang/jasa yang ditawarkan ditahan di perusahaan
● Pricing strategies are often based on costs, dibandingkan dengan jumlah yang
demand, the competition, or on customers’ dibayarkan kepada pemegang
needs saham
Management information systems
MIS :
● Menerima raw material data dari external
maupun dari internal dalam evaluasi
organisasi
● Meningkatkan kinerja perusahaan dengan
meningkatkan kualitas keputusan
manajerial
● Mengumpulkan, mengkode, menyimpan,
synthesizes, dan menyajikan informasi
sedemikian rupa sehingga menjawab
penting pertanyaan operasional dan
strategis

Business analytics
● Teknik bisnis yang melibatkan penggunaan
perangkat lunak untuk mining data dalam
jumlah besar untuk membantu para
eksekutif membuat keputusan.
● Juga disebut: predictive analytics, machine
learning, or data mining.

Value chain analysis (VCA)


● Bagaimana organisasi Anda menciptakan
nilai?
● Kegiatan mana yang menambah nilai bagi
Anda organisasi, dan bagaimana?

The value that's created and captured by a


company is the profit margin:

Value created and captured - cost of creating that


value = Margin
- seberapa baik perusahaan
Primary activities merekrut, mempekerjakan,
Kegiatan utama berhubungan langsung dengan melatih, memotivasi, memberi
penciptaan fisik, penjualan, pemeliharaan dan penghargaan, dan
dukungan produk atau jasa. mempertahankan pekerjanya.
Terdiri dari : - Human adalah sumber nilai yang
1. Inbound logistics signifikan, sehingga bisnis dapat
- semua proses yang terkait dengan menciptakan keuntungan yang
penerimaan, penyimpanan, dan jelas dengan praktik SDM yang
pendistribusian input secara baik.
internal. 3. Technological development
- supplier relationships are a key - Aktivitas ini berkaitan dengan
factor in creating value here. pengelolaan dan pemrosesan
2. Operations informasi, serta melindungi
- kegiatan transformasi yang pengetahuan perusahaan basis.
mengubah input menjadi output - Meminimalkan biaya teknologi
yang dijual kepada pelanggan. informasi, mengikuti
operational systems create value. perkembangan teknologi, dan
3. Outbound logistics mempertahankan keunggulan
- mengirimkan produk atau layanan teknis adalah sumber penciptaan
kepada pelanggan seperti nilai.
pengumpulan, penyimpanan, dan 4. infrastructure
sistem distribusi, dan mungkin - sistem pendukung perusahaan,
internal atau eksternal organisasi. dan fungsi yang memungkinkannya
4. Marketing and sales mempertahankan operasi
- Proses meyakinkan konsumen sehari-hari.
untuk membeli jasa/barang - akuntansi, hukum, administrasi,
- Seperti benefits you offer, and how dan manajemen umum adalah
well you communicate them, are contoh yang diperlukan
sources of value here. infrastruktur yang dapat digunakan
bisnis untuk keuntungan mereka.
Support activities
● Kegiatan yang mendukung primary The internal Factor Evaluation (IFE) Matrix
activities. 1. List key internal factors as identified in the
● setiap support activities mempengaruhi internal-audit process.
primary activities 2. Assign a weight that ranges from 0.0 (not
● Misalnya, procurement mendukung important) to 1.0 (all-important) to each
operation, tetapi juga mendukung factor.
marketing and sales 3. Assign a 1-to-4 rating to each factor to
indicate whether that factor represents a
1. Procurement strength or weakness.
untuk mendapatkan sumber daya yang 4. Multiply each factor's weight by its rating to
dibutuhkan untuk beroperasi. determine a weighted score for each
- termasuk menemukan vendor dan variable.
menegosiasikan harga terbaik.
2. Human resource management
5. Sum the weighted scores for each variable
to determine the total weighted score for
the organization
Matching stage
Session 5 : Chp 8
Process of Generating and SWOT Matrix
- SO Strategies : use firm internal
Selecting Strategies strength to take advantages of external
opportunities
→ set the most attractive alternatif of strategies
- WO Strategies : improve internal
→ pertimbangin advantages, disadvantages,
weakness dengan external
trade-off, dan cost dari strategi yang kita pilih
opportunities yang ada
- ST Strategies : pakai internal strength
Identify dan evaluasi alternatif strategi butuh
untuk avoid ancaman eksternal
peran banyak manajer dan employee yang
- WT Strategies : defense dengan
menyusun visi misi organisasi, melakukan
mengurangi internal weakness dan
eksternal audit, dan internal audit.
mencegah ancaman eksternal.
Step :
→ strategy yang di propose setelah dicatat in
1. List down dahulu S, W, O, T perusahaan
detail, di ranked based on attractiveness.
itu apa
2. Match kekuatan internal dan eksternal
Comprehensive Strategy Formulation
opportunity : SO
Framework
3. Match internal weakness dan external
opportunity : WO
4. Match internal strength dengan external
threats : ST
5. Match internal weakness dengan
external threats : WT

Step 1 – Input :
- Summary basic info yang dibutuhkan
untuk formulasi strategi
- Tools : EFE, IFE, CPM
Step 2 – Matching Stage :
- Fokus ke menciptakan strategi yang
feasible dengan melihat aspek internal
dan eksternal.
- Tools : SWOT matrix, SPACE Matrix, BCG
Matrix, IE Matrix, Grand Strategy Matrix
Step 3 – Decision Stage :
- Menentukan strategi mana yang paling SPACE MATRIX ( strategic position and action
menarik secara objektif dalam seleksi evaluation)
strategi tersebut
- Tools : QSPM
Step :
1. Pilih variable yang define FP, CP, SP, IP
(dari tabel diatas)
2. Kasih penilaian numerik
FP dan IP → (+1 worst, +7 best)
SP dan CP → (-1 best, -7 worst) untuk
Aspek penting : 3. Hitung average score FP, CP, IP, SP
- Analisis internal dimension 4. Add two scores di X-axis and plot
→ lihat financial position (FP) dan resultant ke X. Add two score di Y-axis
competitive position (CP) dan plot resultant ke Y. Plot intersection
- Analisis external dimension ke new XY point
→ lihat stability position (SP) dan 5. Draw a directional vector from the
industry position (IP) origin of the SPACE Matrix through the
1. SP menunjukan profit dan new intersection point.
revenue firm dari industri yang → vector nunjukin tipe strategi yang
berubah-ubah. direkomendasi buat perusahaan
2. Kestabilan perusahaan (aggressive, competitive, defensive, dan
tergantung dari faktor eksternal conservative)
(technology, economy,
demographic, seasonality,etc)
3. Contoh : smartphone itu ga
stabil tapi growth industry
tinggi.
- Important determinants of an
organization overall strategic position
5. The relative attractiveness of alternative
strategies generated is unclear.
6. Key underlying internal and external
factors are not explicitly considered

Example :

Notes :
1. Dibandingkan dengan market
penetration as a good strategy, kita
bilangnya kayak Lebih baik di Indonesia
membuka sebanyak 100 cabang di
SPACE MATRIX Dominos Pizza
berbagai wilayah Pulau Sumatera.
Ada 3 faktor pertimbangan utama :
Conservative Quadrant : staying close to basic
1. the company’s $1.5 billion in long-term
competencies and not taking excessive risks.
debt
Defensive Quadrant : focus improve internal
2. intense competition within the fast-food
weakness and avoid external threats
industry
Competitive Quadrant : competitive strategies
3. offering products that are generally not
(backward, forward, horizontal integration,
a healthy food choice.
market penetration, market development, dkk)
Domino’s should consider adding a line of salads
to their menu to shift the SPACE vector into the
Limitation of SPACE MATRIX
Aggressive Quadrant (upper right); adding
salads would likely benefit Domino’s financially,
1. It is a snapshot in time
thus moving the SPACE point on the vertical
2. There are more than four dimensions
(y-axis) up.
that firms could/should be rated on.
3. The directional vector could fall directly
BCG MATRIX
on an axis, or could even go nowhere if
→ Often di multidivisional firm
the coordinate is (0,0)
→ When a firm’s divisions compete in different
4. Implications of the exact angle of the
industries, a separate strategy often must be
vector within a quadrant are unclear.
developed for each business (cth : indofood
compete di market mie instan, snack, susu, dkk.
BCG akan identifikasi mie instan masuk Limitation :
golongan mana, dsb) 1. Oversimplification (terlalu
→ nilai dari market share position dan industry disederhanakan cuma melihat bisnis
growth rate dari 4 klasifikasi saja)
2. Not easy to classified
3. Does not reflect if various divisions or
their industries are growing over time;
that is, the matrix has no temporal
qualities, but rather it is a snapshot of
an organization at a given point in time

Contoh :

Question Marks - Quadrant I


→ low market share, high growth industry
→ cash needs high but cash generation is low
→ Strategi secara intensif dengan penetrasi
pasar, pengembangan pasar, pengembangan
produk atau diversifikasi

Stars - Quadrant II
→ represent best long-run opportunities for
growth and profitability
I/E MATRIX
→ high market share and high industry growth
→ membagi organizations various division jadi 9
→ maintain substantial investment to maintain
bagian.
or strengthen their position (intinya udah bagus
→ pie chart represent sales contribution of
pol tinggal improve atau pertahanin)
each division (same as BCG)
Cash Cows - Quadrant III
Bedanya IE dan BCG :
→ high market share in a low industry growth
1. X dan y beda
→ generate cash excess of their needs
2. IE butuh informasi lebih banyak dari
→ strategi : maintain their position as long as
BCG
possible (dengan product diversification/
3. Strategic implications berbeda setiap
development)
matrix
4. IE punya 9 quadrant dan BCG hanya 4
Dogs - Quadrant IV
quadrant
→ low market share in low industry growth
→ weak both in external and internal
→ strategy : liquidated, divested, or trimmed
down through retrenchment (penghematan)
→ competitive position (x-axis), industry growth
(y-axis)
→ annual growth in sales exceeds 5% sudah
terhitung rapid growth

Quadrant 1
→ excellent strategic position, fokus ke current
markets and products (market penetration,
IE based on market development, product development)
- x-axis → IFE total weighted scored → ketika firm di quadrant 1 punya sumber daya
- y -axis → EFE total weighted scored yang berlebih, bisa melakukan backward,
forward, horizontal integration.
Ada 3 major region → saat firm berkomitmen penuh terhadap satu
1. Grow (kembangin) and build (bangun) jenis produk, diversifikasi yang terkait produk
(I,II,IV) tersebut bisa mengurangi resiko yang muncul
2. Hold (tahan) and maintain (jaga) ( III, V, karena lini produk yang sempit.
VII) → kalo perlu take risk secara agresif masih oke,
3. Harvest (panen) or divest (lepasin)(VI, bisa manfaatin peluang eksternal.
VIII, IX)
Contoh: Quadrant 2
→ butuh evaluasi approach yang sekarang di
market.
→ meskipun dia growing, tp ga bisa bersaing
dengan efektif
→ Jadi harus di evaluasi mana approach yang ga
efektif dan apa yang harus diubah untuk
improve.
→ horizontal integration is often a desirable
alternative
→ bisa juga melakukan divestiture or
liquidation to provide funds needed to acquire
Grand Strategy Matrix or buy back stock

Quadrant 3
→ bersaing di slow growth industries dan low
competitive position.
→ harus buru-buru berubah untuk avoid further
decline and possible liquidation.
→ retrenchment (pemangkasan biaya) harus
dilakukan pertama, lalu bisa shift resource ke
area lain. Kalo masih ga berhasil divestiture or
liquidation (dibubarkan aja)
Quadrant 4 Positive Features
→ strong competitive position in a slow growth 1. Strategy bisa di examine sequentially or
market. simultaneously (skali jalan ga balik atau
→ mampu dan punya kekuatan untuk launching bolak balik)
program yang berbeda-beda 2. Butuh ahli strategi untuk intergrasi
→ biasanya arus kas tinggi, biasa diversifikasi eksternal dan internal yang terkait.
bebas aja ga harus terkait perusahaan atau lini 3. Bisa digunakan oleh berbagai
produk tertentu. perusahaan dari skala kecil, large for
→ strategi yang tepat joint venture dengan profit, sampai non profit organization.
perusahaan lain. Limitation
1. Butuh penilaian yang benar-benar tepat
DECISION STAGE 2. It is only as good as the prerequisite
Quantitative Strategic Planning Matrix (QSPM) information and matching analyses on
Matrix which it is based
→ last step untuk mengambil keputusan dari Contoh
alternatif strategi tadi.
→ melihat secara objektif mana alternatif
strategi yang terbaik (using input dari stage 1
dan matching hasilnya di stage 2)

STEP :
1. List key factors dari eksternal dan
internal (strength, weakness,
opportunity, threat) yang ada
2. Assign weight to each factors
3. Identify alternative strategies yang
harus di consider
4. Determine attractiveness scores
5. Compute total attractiveness scores
6. Compute sum total attractiveness
scores.
Estimating Cost Associated With
Recommendations
→ intinya ada berbagai batasan (secara
moneter atau tidak) yang membuat perusahaan
hanya bisa memilih strategi tertentu saja
→ Maka dari itu butuh QSPM agar strategi yang
dipilih benar-benar yang efektif dan efisien
(karena umumnya juga pakar yang memberikan
penilaian)

The Culture and Politics of Strategy Choice


→ fewer cultural change, more attractive
(karena perubahan bisa take considerable time
and effort)
→ manuver politik di perusahaan, mengalihkan
SDM, dan lain-lain malah bisa membuat
perusahan kehilangan SDM
→ terkadang political biases dan personal
preferences melekat dalam pemilihan strategi.
include growth in revenues, growth in
Session 6: Chapter 6 earnings, higher dividends, larger profit
TYPES OF STRATEGIES margins, greater return on investment,
higher earnings per share, a rising stock
price, improved cash flow, and so on.
The Nature of Long-term Objectives
● Strategic objectives
→ 2-5 year time frame
include a larger market share, quicker
Objectives should be: quantitative, measureable,
on-time delivery than rivals, shorter
realistic, understandable, challenging, hierarchical,
design-to market times than rivals, lower
obtainable, and congruent among organizational
costs than rivals, higher product quality
units.
than rivals, wider geographic coverage than
rivals, achieving technological leadership,
5 characteristic of objectives
consistently getting new or improved
1. Quantitative : measurable
products to market ahead of rivals, and so
2. Understandable : clear
on.
3. Challenging : achievable
4. Compatible : consistent vertically and
Varying Performance Measures by Organizational
horizontally in a chain of command
Level
5. Obtainable : realistic

Objectives: Organizational Level Basis for Annual Bonus


→ provide direction or Merit Pay
→ allow synergy
→ assist in evaluation Corporate 75% based on long
term objectives
→ establish priorities
→ reduce uncertainty 25% based on annual
→ minimize conflicts objectives
→ stimulate exertion
→ aid in both the allocation of resources and the Division 50% based on long
term objectives
design of jobs
50% based on annual
Ten Benefits of having clear objectives: objectives
1. Provide direction by revealing expectations
2. Allow synergy Function 25% based on long
3. Assist in evaluation by serving as standards term objectives
4. Establish priorities 75% based on annual
5. Reduce uncertainty objectives
6. Minimize conflicts
7. Stimulate exertion
Not Managing by Objectives
8. Aid in allocation of resources
- Managing by Extrapolation: tetap
9. Aid in design of jobs
melakukan strategi yg sama karena udah
10. Provide basis for consistent decision making
baik
- Managing by Crisis: harus bisa
menyelesaikan masalah
Financial vs strategic objectives
- Managing by Subjectives: Built on the idea
● Financial objectives
that there is no general plan for which way
to go and what to do; just do the best you
can to accomplish what you think should be Integration strategies
done. (gada plan tertentu, just do the best) 1. Forward Integration → involves gaining
- Managing by Hope: future itu ga jelas, jadi ownership or increased control over
kalo gagal cuman berharap sama distributors or retailers
kesempatan kedua Forward integration guidelines :
- When an organization’s present
distributors are especially
expensive
- When the availability of quality
distributors is so limited as to offer
a competitive advantage
- When an organization competes in
an industry that is growing
- When present distributors or
retailers have high profit margins
- When an organization has both
capital and human resources to
Types of Strategis manage distributing their own
- Most organizations simultaneously pursue a products
combination of two or more strategies, but - When the advantages of stable
a combination strategy can be exceptionally production are particularly high
risky if carried too far → banyak
perusahaan menggabungkan 2 strategi 2. Backward Integration → strategy of seeking
sekaligus, tapi kadang justru malah risky ownership or increased control of a firm’s
- No organization can afford to pursue all the suppliers
strategies that might benefit the firm Backward integration guidelines :
- Difficult decisions must be made and - When an organization’s present
priorities must be established. suppliers are especially expensive
or unreliable
- When the organization competes
in a growing industry
Levels of Strategies With Persons Most Responsible - When the number of suppliers is
small and the number of
competitors is large
- When the advantages of stable
prices are particularly important
- When an organization needs to
quickly acquire a needed resource
- When an organization has both
capital and human resources
- When present suppliers have high
profit margins

Alternatives Strategies Defined and Exemplified


3. Horizontal Integration → a strategy of expenditures historically has been
seeking ownership of or increased control high
over a firm’s competitors - When increased economies of
Horizontal integration guidelines : scale provide major competitive
- When an organization can gain advantages
monopolistic characteristics in a
particular area or region without 5. Market development
being challenged by the federal → involves introducing present products or
government services into new geographic areas
- When an organization competes in Market development guidelines:
a growing industry - When new channels of distribution
- When increased economies of are available that are reliable,
scale provide major competitive inexpensive, and of good quality
advantages (kalo channel distribution yg ada
- When an organization has both the sekarang emang capable)
capital and human talent needed - When an organization is very
- When competitors are faltering successful at what it does
due to a lack of managerial - When new untapped or
expertise → ketika kompetitor unsaturated markets exist (ketika
goyah karena kurang pengalaman ada pasar baru yang tersedia)
di management - When an organization has excess
production capacity
Intensive strategies - When an organization’s basic
industry is rapidly becoming global
4. Market Penetration Strategy in scope
→ seeks to increase market share for
present products or services in present 6. Product Development Strategy
markets through greater marketing efforts → seeks increased sales by improving or
(meningkatkan market share saat ini) modifying present products or services
Market Penetration guidelines : Product Development guidelines:
- When current markets are not - When an organization has
saturated with a particular product successful products that are in the
or service (ketika pasar saat ini ga maturity stage of the product life
jenuh sama product/service cycle (punya produk yang udah
tertentu) sukses)
- When the usage rate of present - When an organization competes in
customers could be increased an industry that is characterized by
significantly rapid technological developments
- When the market shares of major (ketika berkompetisi di pasar yang
competitors have been declining teknologinya mudah berubah)
while total industry sales have - When major competitors offer
been increasing (market share better-quality products at
competitor berkurang tapi comparable prices
industry sales justru meningkat) - When an organization competes in
- When the correlation between a high growth industry
dollar sales and dollar marketing
- When an organization has strong 8. Unrelated Diversification → value chains
research and development are so dissimilar that no competitively
capabilities valuable cross business relationships exist
Unrelated diversification guidelines:
Diversification strategies - When revenues derived from an
organization’s current products
7. Related Diversification would increase significantly by
→ value chains possess competitively adding the new, unrelated
valuable cross business strategic fits products
(membuat produk lain yang masih - When an organization’s present
berhubungan dengan produk sebelumnya) channels of distribution can be
used to market the new products
Synergies of related diversification: to current customers (distribution
- Transferring competitively valuable channels bisa dipake buat bidang
expertise, technological know-how, lain)
or other capabilities from one - When an organization’s basic
business to another (bisa transfer industry is experiencing declining
capabilities ke bisnis bidang yang annual sales and profits (ketika
hampir sama) industri yg awal dibangun
- Combining the related activities of mengalami penurunan sales)
separate businesses into a single - When an organization has the
operation to achieve lower costs opportunity to purchase an
(bikin bisnis dibidang yang hampir unrelated business that is an
sama ternyata lower costs) attractive investment opportunity
- Exploiting common use of a (punya kesempatan buat bangun
well-known brand name bisnis unrelated tapi menarik buat
(memanfaatkan nama brand yang invest)
udh terkenal) - When existing markets for an
- Using cross-business collaboration organization’s present products are
to create strengths saturated
- When antitrust action could be
Related Diversification guidelines: charged against an organization
- When an organization competes in that historically has concentrated
a no growth or a slow-growth on a single industry
industry
- When adding new, but related, Defensive strategies
products would significantly 9. Retrenchment → occurs when an
enhance the sales of current organization regroups through cost and
products asset reduction to reverse declining sales
- When new, but related, products and profits. (penghematan)
could be offered at highly → also called a turnaround or
competitive prices re-organizational strategy
- When an organization has a strong → designed to fortify an organization’s basic
management team distinctive competence
Retrenchment guidelines:
- When an organization is one of the - When the stockholders of a firm
weaker competitors in a given can minimize their losses by selling
industry (salah satu yang terlemah the organization’s assets
di industrinya)
- When an organization is plagued Porter’s Five Generic Strategies
by inefficiency, low profitability,
and poor employee morale ( kalau
inefisien kerjanya, profit rendah,
moral pekerja rendah)
- When an organization has grown
so large so quickly that major
internal reorganization is needed

10. Divestiture → Selling a division or part of an


organization
→ often used to raise capital for further
strategic acquisitions or investments
Divestiture guidelines:
- When an organization has pursued
a retrenchment strategy and failed 1. Cost Leadership
to accomplish needed → emphasizes producing standardized
improvements ( udah berusaha products at a very low per-unit cost for
retrenchment dll tapi ga berhasil) consumers who are price-sensitive
- When a division needs more a. Type 1
resources to be competitive than Low-cost strategy that offers
the company can provide ( ga products or services to a wide
punya resource lagi buat bersaing) range of customers at the lowest
- When a division is responsible for price available on the market
an organization’s overall poor (murah dengan kualitas sampah)
performance ( poor performance) b. Type 2
- When a division is a misfit with the best-value strategy that offers
rest of an organization (salah satu products or services to a wide
divisi ga cocok sama semua divisi range of customers at the best
lain) price-value available on the market
(harga affordable sesuai dengan
11. Liquidation → selling all of a company’s value yang diberikan okay)
assets, in parts, for their tangible worth
(jual semua bye) 2. Type 3 : Differentiation
→ can be an emotionally difficult strategy → strategy aimed at producing products
Liquidation guidelines: and services considered unique
- When an organization has pursued industry-wide and directed at consumers
both a retrenchment strategy and who are relatively price-insensitive (strategi
a divestiture strategy, and neither yang ditujukan untuk menghasilkan produk
has been successful dan layanan yang dianggap unik di seluruh
- When an organization’s only industri dan ditujukan kepada konsumen
alternative is bankruptcy yang relatif ga sensitif terhadap harga)
- Joint Venture/Partnering
3. Focus - Merger/Acquisition
a. Type 4 - Private-Equity Acquisitions
low-cost focus strategy that offers - First Mover Advantages
products or services to a niche - Outsourcing
group of customers at the lowest
price available on the market
(fokus ke niche market, trus kasih
harga paling rendah)
b. Type 5
best-value focus strategy that
offers products or services to a
small range of customers at the
best price-value available on the
market (jual produk ke niche
market, dengan value yang oke
tapi harga juga oke)

Cost Leadership Strategies


→ To employ a cost leadership strategy successfully,
a firm must ensure that its total costs across its
overall value chain are lower than competitors’ total
costs (pastikan total cost dari value chain lebih
rendah dari kompetitor)

Differentiation Strategies
→ Differentiation strategy should be pursued only
after a careful study of buyers’ needs and
preferences to determine the feasibility of
incorporating one or more differentiating features
into a unique product that features the desired
attributes (dilakukan setelah mempelajari buyer’s
need dan preferensi mereka untuk menggabungkan
satu atau beberapa fitur berbeda untuk suatu
produk)

Focus Strategies
→ Successful focus strategy depends on an industry
segment that is of sufficient size, has good growth
potential, and is not crucial to the success of other
major competitors
→ Most effective when consumers have distinctive
preferences

Means for Achieving Strategies


- Cooperation Among Competitors

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