SHRM Topic 2 &3 Study Notes
SHRM Topic 2 &3 Study Notes
SHRM Topic 2 &3 Study Notes
TOPIC: 3
Mintzberg's framework highlights that strategy is not just about planning but
also about being adaptive, recognizing patterns, and embracing the culture
within an organization.
a. Threat of New Entrants: The degree to which new companies can enter an
industry and compete effectively.
b. Bargaining Power of Buyers: The ability of customers to influence the
pricing and terms of products or services.
c. Bargaining Power of Suppliers: The leverage suppliers have over the industry
concerning the availability and cost of inputs.
b. Diagnose the Fundamental Issue: Analyze the underlying causes and factors
contributing to the core problem.
c. Design Guiding Policy: Develop a set of guiding principles and policies that
will direct the organization's actions towards addressing the core problem.
By integrating the insights from these frameworks, businesses can develop more
comprehensive and effective strategies to navigate their competitive landscapes
and achieve sustainable success.
WHAT IS STRATEGY? Understand Strategy by analyzing framework
provided by; 1. Henry Mintzberg (5ps of Strategy) 2. Michael E. Porter’s
(Five Force of Competition) 3. Roger Martins ( Five Steps Strategy Model)
ChatGPT
2/2
Strategy is a critical concept in business and management that involves making
informed decisions and plans to achieve specific goals or objectives. It is about
determining how an organization will position itself in the market, allocate
resources, and create a competitive advantage to achieve long-term success.
Mintzberg's framework highlights that strategy is not just about planning but
also about being adaptive, recognizing patterns, and embracing the culture
within an organization.
II. Diagnose the Fundamental Issue: Analyze the underlying causes and
factors contributing to the core problem.
III. Design Guiding Policy: Develop a set of guiding principles and policies
that will direct the organization's actions towards addressing the core
problem.
IV. Coherent Actions: Implement the guiding policy through coherent actions
across the organization.
Here are four key areas where SHRM aligns with strategy makers: