<%@LANGUAGE="JAVASCRIPT" CODEPAGE="1252"%> ecofine - Strategic management process

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Corporate Governance
What is Strategy ?
The Strategic Management Process (graph)

The 5 tasks of Strategic Management process:
1 Defining the business & developing a vision and a mission
2. Setting objectives
3. Crafting a strategy to achieve performance objectives
4. Implementing & executing the strategy
5. Evaluating performances, reviewing the situation & initiating corrective adjustments

The strategic decisions

 

Strategic decisions & Working Capital (WC)

The mean of a positive WC
How interpret a negative WC
The SCFP & Strategic Decisions

 

Investment decisions
Capex

 

Modes of diversification :
Mergers & Acquisitions

 

Inter-Organizational relationships :
Strategic Alliances
Joint Venture
Licensing

 

Others :

Corporate new venture (self development)
Divestiture & Liquidation strategies

 

Long-Term Financial decisions
Bonds market
leasing
Stocks market & Dividend Policy
Optimal financial structure

 

Investment analysis and decision
The opportunity cost of capital
Pay-back, IRR, NPV : what to choose ?
The WACC
The NPV
The EVA
The key Ratios analysis 
 
Company valuation
THE Strategic Management Process

© Bernard Jaquier, Professor in Economics & Finance, Ecole Hôtelière de Lausanne, 2003