STA 5301 STRATEGIC MANAGEMENT Course Introduction: WHAT, WHY AND HOW IS STRATEGIC MANAGEMENT Faculty Member: Prof. Sammy Kristamuljana, PhD ([email protected]) __________________________________________________________________________________ This material is developed solely for class lecture at The Undergraduate Program of Finance – SBE Universitas Prasetiya Mulya September 2019 – Januari 2020 1 Defining Strategic Management • Strategic Management (David & David, 2017:33) – the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives – Instead of separating in two steps David & David (2017:42) combines the Strategic Analysis step into the Strategy Formulation step Copyright ©2013 Pearson Education 1-2 Comprehensive Strategic-Management Model Copyright ©2017 Pearson Education, Limited 1-3 Stages of Strategic Management Strategy formulation 1-4 Strategy implementation Strategy evaluation Defining Strategic Management ❖ Strategic Management is used to refer to Strategic Analysis (the Internal audit and the External Audit: SWOT analysis), Strategy Formulation, Strategy Implementation, and Strategy Evaluation. ❖ Sometimes the term strategic management is used synonymously with the term Strategic Planning (Perencanaan Stratejik). ❖ Strategic Planning refers only to strategic analysis and strategy formulation. ❖ The product of strategic planning that refers only to strategic analysis and strategy formulation is called strategic plan (rencana stratejik). Copyright ©2013 Pearson Education 1-5 Stages of Strategic Management • Strategist (terjmh: Strategis) – The person(s) responsible for formulating and implementing a firm’s strategic plan, including the CEO, President, Owner of a Business, Head Coach, Governor, Chancellor, and/or the top management team in a firm (p.36, 664) – Who are the persons responsible for evaluating the performance of the strategist that they have achieved or not achieved the firm’s objectives through the implemented strategy? Copyright ©2013 Pearson Education 1-6 PRAKTEK MANAJEMEN STRATEJIK DEWASA INI • Dewasa ini semakin banyak perusahaan yang dituntut memiliki dokumen Rencana Stratejik (strategic plan) yang akan dijalankan oleh seluruh anggota organisasi untuk mencapai tujuan jangka panjang perusahaan. • Di industri perbankan misalnya Peraturan Bank Indonesia (PBI) mengharuskan setiap bank membuat Rencana Bisnis Bank (RBB), yang dhi adalah dokumen Rencana Stratejik, menjalankan dan mengevaluasi pencapaiannya. • Manajemen Stratejik (strategic management) adalah proses yang dijalankan perusahaan untuk membuat rencana stratejik (terdiri dari proses analisis stratejik lingkungan dan perumusan strategi), menjalankan strategi (terdiri dari proses implementasi strategi oleh organisasi termasuk eksekusi-nya ), dan penilaian atas hasil pencapaian strategi (proses evaluasi strategi). TESIS DALAM KONDISI UMUM PERUSAHAAN + MANAJEMEN → TUJUAN YANG STRATEJIK DISEPAKATI MANAJEMEN STRATEJIK = PROSES “MANAJEMEN” STRATEGI Buku-ajar (textbook) Manajemen Stratejik pada umumnya memakai kerangka: “Proses ‘Manajemen’ Strategi yang terdiri dari Empat Langkah Baku”: ANALISIS STRATEJIK FORMULASI STRATEGI PLANNING & ORGANIZING IMPLEMENTASI STRATEGI → ACTUATING EVALUASI STRATEGI → COTROLLING PROSES “MANAJEMEN” STRATEGI CONTOH SIKLUS MANAJEMEN STRATEJIK • Bulan September–Desember: membuat dokumen Rencana Stratejik, yang terdiri dari dua tahap yaitu: Analisis Stratejik dan Formulasi Strategi untuk jangka waktu 1-3 atau 5 tahun ke depan. • Karena jangka waktunya lebih dari 1 tahun maka dokumen Rencana Stratejik itu disebut juga RJP atau Rencana Jangka Panjang. Bedakan dengan Anggaran perusahaan (termasuk Neraca dan L/R). • Bulan Januari–Desember tahun berikutnya adalah tahap Implementasi dari Rencana Stratejik itu. • Tahap Evaluasi atas dokumen Rencana Stratejik itu dilakukan pada akhir bulan Desember tahun diimplementasikannya atau pada bulan Januari tahun berikutnya. CONTOH LAIN DENGAN PERIODE WAKTU BERBEDA Siklus Manajemen Stratejik Dalam Bentuk Diagram Lingkar Okt Penilaian & Review Nop Sep Ags Des Jul Usulan Konsolidasi Evaluasi/ Kompilasi Koordinasi Perencanaan Jan Implementasi/ Pelaksanaan Feb Jun Mei Mar Apr Proyeksi Laba / Rugi dan Proyeksi Neraca STAGES OF STRATEGIC MANAGEMENT Strategy formulation Strategy implementation Copyright © Pearson Education Limited 2015 Strategy evaluation 1-11 Stages of Strategic Management • Strategy formulation – includes developing a vision and mission, identifying an organization’s external opportunities and threats, determining internal strengths and weaknesses, establishing longterm objectives, generating alternative strategies, and choosing particular strategies to pursue Copyright ©2013 Pearson Education 1-12 Strategy Formulation ❖Deciding what new businesses to enter, ❖What businesses to abandon, ❖How to allocate resources, ❖Whether to expand operations or diversify, ❖Whether to enter international markets, ❖Whether to merge or form a joint venture, ❖How to avoid a hostile takeover. Copyright ©2013 Pearson Education 1-13 Stages of Strategic Management • Strategy implementation – requires a firm to establish annual objectives, devise policies, motivate employees, and allocate resources so that formulated strategies can be executed – often called the action stage Copyright ©2013 Pearson Education 1-14 Stages of Strategic Management • Strategy evaluation – reviewing external and internal factors that are the bases for current strategies, measuring performance, and taking corrective actions Copyright ©2013 Pearson Education 1-15 Key Terms in Strategic Management • Vision statement – answers the question “What do we want to become?” – often considered the first step in strategic planning Copyright ©2013 Pearson Education 1-16 Key Terms in Strategic Management • Mission statements – enduring statements of purpose that distinguish one business from other similar firms – identifies the scope of a firm’s operations in product and market terms – addresses the basic question that faces all strategists: “What is our business?” Copyright ©2013 Pearson Education 1-17 Key Terms in Strategic Management • External opportunities and external threats – refer to economic, social, cultural, demographic, environmental, political, legal, governmental, technological, and competitive trends and events that could significantly benefit or harm an organization in the future Copyright ©2013 Pearson Education 1-18 MODEL EMPAT DIMENSI LINGKUNGAN BISNIS DEMOGRAFI LINGKUNGAN UMUM LINGKUNGAN PASAR/ BERSAING SOSIAL BUDAYA LINGKUNGAN INDUSTRI PENDATANG BARU POLITIK /HUKUM A PEMASOK B PEMBELI C LINGKUNGAN PERUSAHAAN PRODUK SUBSTITUSI A,B,C : Perusahaan MAKROEKONOMI TEKNOLOGI GLOBAL (Sumber: Kristamuljana, 2001) EMPAT DIMENSI LINGKUNGAN BISNIS UNTUK PERUSAHAAN YANG BEROPERASI DI DUA NEGARA DEMOGRAPHIC SOSIAL BUDAYA DEMOGRAPHIC POLITIK HUKUM PENDATANG BARU SOSIAL BUDAYA PENDATANG BARU A PEMASOK B D PEMBELI PEMASOK E C A PRODUK SUBSTITUSI PRODUK SUBSTITUSI MAKROEKONOMI POLITIK HUKUM TEKNOLOGI PEMBELI MAKROEKONOMI TEKNOLOGI GLOBAL GLOBAL Negara I (Home Country Co. A) Negara II (Host Country Co. A) A,B,C,D, E : COMPANY Some Opportunities and Threats ❖Computer hacker problems are increasing. ❖Intense price competition is plaguing most firms. ❖Unemployment and underemployment rates remain high. ❖Interest rates are rising. ❖Product life cycles are becoming shorter. ❖State and local governments are financially weak. Copyright ©2013 Pearson Education 1-21 Key Terms in Strategic Management • Internal strengths and internal weaknesses – an organization’s controllable activities that are performed especially well or poorly – determined relative to competitors Copyright ©2013 Pearson Education 1-22 Key Terms in Strategic Management • Objectives – specific results that an organization seeks to achieve in pursuing its basic mission – long-term means more than one year – should be challenging, measurable, consistent, reasonable, and clear Copyright ©2013 Pearson Education 1-23 Key Terms in Strategic Management • Strategies – the means by which long-term objectives will be achieved – may include geographic expansion, diversification, acquisition, product development, market penetration, retrenchment, divestiture, liquidation, and joint ventures Copyright ©2013 Pearson Education 1-24 Sample Strategies in Action in 2011 Copyright ©2013 Pearson Education 1-25 Key Terms in Strategic Management • Annual objectives – short-term milestones that organizations must achieve to reach long-term objectives – should be measurable, quantitative, challenging, realistic, consistent, and prioritized – should be established at the corporate, divisional, and functional levels in a large organization Copyright ©2013 Pearson Education 1-26 Key Terms in Strategic Management • Policies – the means by which annual objectives will be achieved – include guidelines, rules, and procedures established to support efforts to achieve stated objectives – guides to decision making and address repetitive or recurring situations Copyright ©2013 Pearson Education 1-27 Key Terms in Strategic Management • A strategic plan is a company’s game plan. • A strategic plan results from tough managerial choices among numerous good alternatives, and it signals commitment to specific markets, policies, procedures, and operations. Copyright ©2013 Pearson Education 1-28 The Strategic-Management Model Where are we now? Where do we want to go? How are we going to get there? Copyright ©2013 Pearson Education 1-29 Benefits of Strategic Management ❖Historically, the principal benefit of strategic management has been to help organizations formulate better strategies through the use of a more systematic, logical, and rational approach to strategic choice Copyright ©2013 Pearson Education 1-30 Benefits of Strategic Management • Communication is a key to successful strategic management • Through dialogue and participation, managers and employees become committed to supporting the organization Copyright ©2013 Pearson Education 1-31 Benefits to a Firm That Does Strategic Planning Copyright ©2013 Pearson Education 1-32 Why Some Firms Do No Strategic Planning • • • • • • • Lack of knowledge in strategic planning Poor reward structures Firefighting Waste of time Too expensive Laziness Content with success Copyright ©2013 Pearson Education 1-33 Why Some Firms Do No Strategic Planning • • • • • • • Fear of failure Overconfidence Prior bad experience Self-interest Fear of the unknown Honest difference of opinion Suspicion Copyright ©2013 Pearson Education 1-34 Pitfalls in Strategic Planning • Using strategic planning to gain control over decisions and resources • Doing strategic planning only to satisfy accreditation or regulatory requirements • Too hastily moving from mission development to strategy formulation • Failing to communicate the plan to employees, who continue working in the dark • Top managers making many intuitive decisions that conflict with the formal plan Copyright ©2013 Pearson Education 1-35 Pitfalls in Strategic Planning • Top managers not actively supporting the strategic-planning process • Failing to use plans as a standard for measuring performance • Delegating planning to a “planner” rather than involving all managers • Failing to involve key employees in all phases of planning • Failing to create a collaborative climate supportive of change Copyright ©2013 Pearson Education 1-36 Guidelines for Effective Strategic Management Copyright ©2013 Pearson Education 1-37 Comparing Business and Military Strategy ❖A fundamental difference between military and business strategy is that business strategy is formulated, implemented, and evaluated with an assumption of competition, whereas military strategy is based on an assumption of conflict ❖Both business and military organizations must adapt to change and constantly improve to be successful Copyright ©2013 Pearson Education 1-38 Excerpts from Sun Tzu’s The Art of War Writings • War is a matter of vital importance to the state: a matter of life or death, the road either to survival or ruin. Hence, it is imperative that it be studied thoroughly • Know your enemy and know yourself (according to the Chinese: “Know yourself and know your enemy”), and in a hundred battles you will never be defeated • Skillful leaders do not let a strategy inhibit creative counter-movement Copyright ©2013 Pearson Education 1-39 Persistence: Four guys are standing on a street corner ... an American, a Russian, a Chinese man, and an Israeli … A reporter comes up to the group and says to them: “Excuse me. … What’s your opinion on the meat shortage?” The American says: “What’s a shortage? The Russian says; “ What’s meat? The Chinese says: “What’s an opinion? The Israeli says: “What’s “Excuse me”?. Source: Senor, D. and S. Singer. 2011. Start-Up Nation: The story of Israel’s Economic Miracle, New York: Hachette Book Group 40 Sumber Kepustakaan: David, F.R. and F.R. David. 2017. Strategic Management. Concepts and Cases, 16h ed., Pearson International, Ch.1. Kristamuljana, S. 2001. “Definisi Bisnis yang Up To Date sebagai Pengungkit Keunggulan Bersaing”, Journal Manajemen Prasetiya Mulya, Vol. VI (11), Maret, h. 9-16. 41 SEKIAN TUGAS MAHASISWA DAN KELOMPOK BANK (untuk Senin, 9 September 2019) 1. Segera mendapatkan buku ajar: David, F.R. and F.R. David. 2017. Strategic Management. Concepts and Cases, 16h ed., Pearson Global Edition. 2. Membaca dan mempelajari dari buku ajar David & David (2017) Ch 1, 2, 3, 4, 5. 3. Membaca dan mempelajari materi PPt slides “Course Introduction” dari FM yang telah dikirim ke semua mhs oleh Ketua Kelas. 4. Membaca peraturan OJK – Otoritas Jasa Keuangan - (terakhir) tentang Rencana Bisnis Bank (RBB) dan memahami isinya. 5. Mengunduh (down load) Annual Report 2018 dan 2017 bank OCBC NISP dan menyimpannya di storage notebook / USB masing-masing dan mempelajari isinya untuk memperoleh pemahaman tentang isi RBB. 6. Menyiapkan buku atau kertas catatan kuliah + kalkulator untuk berlatih membuat laporan keuangan bank dan memahami bisnis bank. 7. Setiap Kelompok telah menentukan pilihan bank yang akan dimanajemeninya dengan persyaratan: (1) bank yang go public, (2) dibatasi hanya untuk bank Buku IV dan Buku III dengan proporsi jumlah kelompok yang sebanding untuk masing-masing golongan buku. 43
