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Chapter
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1
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Introduction
to Strategy
Why is the discipline of strategy so challenging? This chapter
considers: the paradoxical nature of successful strategy;
strategy as a state of mind as well as a set of tools and
techniques. |
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2
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Definition
of Terms
The essence of strategy: developing an understanding of; the
present situation (Where are we now; the desired future position
(Where do we want to be; the path to take the organization
from its present position into the future (How do we get there?).
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3
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The
Evolution of Strategy
Originally drawn from military models. Key models of strategy:
natural selection; systematic planning; adaptive; cultural;
political; visionary. 1960s: relatively stable environment
with strong economic growth, which fostered a planning orientation.
Assumed that the business world was predictable and rational.
Paralysis by analysis. 1980: Porter's Five Forces model. 1990s
and onward: increasingly strategy is viewed as an holistic
discipline. |
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4
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The
E-Dimension
The Internet offers huge scope for cost-cutting. The hare,
the tortoise, and the Internet.Internet-only companies carry
less organizational baggage.He who pays the piper - the power
of the buyer. The rise and fall of the middleman - Internet-based
alliances Conclusion: Despite a faltering of the dot-com sector,
the reach of the Internet is bringing more intensified competition
just about everywhere. |
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5
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The
Global Dimension
Implications of globalization: Your biggest competitor is
less likely to be down the road and more likely to be based
on another continent. Size is not everything. Global brands
need to adapt to national markets. Competitive advantage is
wonderful if you have advantages with which to be competitive.
Removal of barriers does make it a little easier for people
in poor countries to compete with those in rich ones. Technological
revolution makes it easier for poor countries to compete on
something approaching equal terms. Globalization opens people's
minds to an unprecedented range of ideas and influences. Importers
and exporters have a strong financial interest in a globalized
economy. Mergers and alliances: the big are getting bigger.
There are increasing levels of regulation. Trade is still
predominantly regional. Globalization intensifies the need
for companies to strive for excellence. |
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6
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The
State of the Art
Strategy as Plan; >Strategy as Ploy; Strategy as Pattern;
Strategy as Position; Strategy as Perspective. Strategic Lenses:
Lens 1: A Resource Model of Strategy; Lens 2: Strategy as
Simple Rules; Lens 3: Strategy as Alignment; Lens 4: Strategy
as Learning Process; Lens 5: Strategy as Dream-weaving; Lens
6: Strategy as an Organic Discipline. The fundamental of strategy:
keeping the customer satisfied; The future of strategy: strategy
as a chaotic discipline. |
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7
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Strategy
in Practice
Encyclopaedia Britannica: a demonstration of how quickly the
new economics of information have changed the rules of competition.
Pleasant Company: creating a total shopping experience for
which customers are willing to pay a premium price. Sears:
change in the logic and culture of a business. Seven-Eleven
Japan: highly effective use of technology combined with cautious
management.The Natural Step: creating a shared sense of purpose
and vision. Vermeer Technologies: start-ups and buyouts -
the rock and roll of strategy. Coda: Garth Brooks Case Study.
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8
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Key
Concepts and Thinkers
Strategy has its own language. Get to grips with the lexicon
of strategy through the Express Exec strategy glossary
in this chapter, which also covers: key concepts and key thinkers.
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9
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Resources
Countless words have been written about strategy. This chapter
identifies the best resources: books and articles on strategy;
articles; journals, magazines and websites. |
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10
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Ten
Steps to Making Strategy Work
Know where you're going and why - Develop a compelling vision;
The magic of intent. Know where you are - Develop awareness;
Know your customers. Choose your path - Evaluation and selection
of strategic options; Creativity. Take Action - Leadership<;
Trust; Make it happen. Monitor and adjust if necessary - Measure
your performance. |
