Exploring Strategy Summary

Summary book: " Exploring Strategy ', Johnson, G., Scholes, K. and Whittington, R. Strategisch Management (Universiteit van Amsterdam)

Distributing prohibited | Downloaded by Chris Gigi ([email protected]) ([email protected])

Chapter 1: Introducing Strategy Strategy: Long-term direction of an organization Long-term: strategies are typically measured over years Three horizons framework : every organization should think of itself as comprising three types of business or activity defined by their ‘horizons’ Horizon 1: Extend and defend core business Horizon 2: Build emerging businesses businesses Horizon 3: Create viable options Levels of strategy: Corporate-level strategy: concerned with the overall scope of an organization and how value is added to the t he constituent businesses of the organizational whole. Business-level strategy strat egy: about how the individual businesses should compete in their particular markets (also called competitive strategy). Operational strategies: concerned with how the components of an organization deliver effectively the corporatecorporate- and business-level business-level strategies in terms of resources, processes and people. Strategy statements: should have tree main m ain themes: the fundamental goals the organization seeks, which typically draw on the organization’s stated stated mission, vision and objectives; objectives; the scope or domain of the organisation’s activities; and the particular advantages or capabilities it has to deliver all of these Mission: Overriding purpose of the organization Vision: The desired future state of the organization Objectives: More precise and ideally quantifiable statement of the organisations’s goals over some period of time. Scope: The Exploring Strategy Model: - Understanding the strategic position of an organization (context); - Assessing strategic choices for the future (content); - Managing strategy in action (process) Strategic position: environment (oppurtunities and threats), the organisations’s strategic capability (resources and competences, strengths and weaknesses), weaknesses), the organization’s purpose and the organsiation’s culture Strategic choices: the options for strategy in terms of both the directions in which strategy might move and the methods by which strategy might be pursued. Strategy in action: about how strategies are formed and how they are implemented The Strategy Lenses: ways of looking at strategy issues differently in order to generate many insights - Strategy as design - Strategy as experience - Strategy as variety - Strategy as discourse (using language to frame strategic p roblems)

Distributing prohibited | Downloaded by Chris Gigi ([email protected]) ([email protected])

Chapter 2: The Environment The environment: - The Macro-Environment - Industry (or sector) - Competitors and Markets The Macro-Environment: Consists broad environmental factors that impact to a greater of lesser extent on almost all organizations. PESTEL framework: categorizes environmental influences into six main types: - Political - Economic - Social - Technological - Environmental - legal Key drivers for change: the environmental factors likely to have a high impact on the success or failure of strategy Industries and Sectors: An industry is a group of firms producing products and services that are essentially the same. Industries and sectors are made up of several specific markets. Porter’s five forces framework: Indentifies the attractiveness of an industry in terms of five competitive forces: - the threat of entry barriers to entry: scale and experience, access to supply or distribution channels, expected retaliation, legislation or government action, differentiation - the threat of substitutes substitutes come from outside the incumbents’ industry - the power of buyers buyer power is high when: concentrated buyers, low switching costs and/or buyer competition threat (buyer has capability to supply itself) - the power of suppliers supplier power is high when: concentrated suppliers, high switching costs, supplier competition threat - the extent rivalry between competitors Competitive rivals are organizations with similar products and services aimed at the same customer group Where the five forces are high, industries are not attractive to compete in. th 6 force: the existence of organizations that are complementors: if customers value your product more when they also have the other organization’s product. If it’s more attractive for suppliers to provide resources to you when they are also supplying the other organization.

Distributing prohibited | Downloaded by Chris Gigi ([email protected])

Types of industries: - Monopoly: industry with just one firm and therefore no competitive rivalry - Oligopoly: just a few firms dominate and industry, with the potential for limited rivalry and great power over buyers and suppliers - Hyper competition: occurs where the frequency, boldness and aggression of competitor interactions accelerate to create a condition of constant disequilibrium and change. - Perfect competition: where barriers to entry are low, there are many equal rivals each with very similar products, and information about competitors is freely available. Value net: a map of organizations in a business environment demonstrating opportunities for value-creating cooperation as well as competition Competitors and markets: Market is a group of customers for specific products or services that are essentially the same Strategic groups: organizations within an industry or sector with similar strategic characteristics, following similar strategies or competing on similar bases. Market segment: a group of customers who have similar needs that are different from customer needs in other parts of the market. (niches) Blue oceans: New market spaces where competition is minimized. Strategy canvas: compares competitors according to their performance on key success factors in order to develop strategies based on creating new market spaces Critical success factors: those factors that are either particularly valued by customers or which provide a significant advantage in terms of cost Value curves: a graphic description of how customers perceive competitors’ relative performance across the critical success factors Value innovation: creation of new market space by excelling on established critical success factors on which competitors are performing badly and/or by creating new critical success factors representing previously unrecognized customer wants.


Chapter 3: Strategic Capabilities Resource based view: the competitive advantage and superior performance of an organization is explained by the distinctiveness of i ts capabilities Strategic capabilities: capabilities of an organization that contribute to its l ong-term survival or competitive advantage - Resources: assets that organizations have or can call upon - Competences: ways those assets are used or deployed effectively Dynamic capabilities: an organization’s ability to renew and recreate its strategic capabilities to meet the needs of changing environments Threshold capabilities: those needed for an organization to meet the necessary requirements to compete in a given market and achieve parity with competitors in that market. Core competences: the linked set of skills, activities and resources that, together, deliver customer value, differentiate a business from its competitors and, potentially, can be extended and developed Developing and sustaining competitive advantage Vrin: four key criteria by which capabilities can be assessed in terms of their providing a basis for achieving sustainable competitive advantage - Value: when they provide potential competitive advantage in a market at a cost that allows an organization to realize acceptable levels of return - Rarity: when capabilities are possessed uniquely by one organization or by a few others - Inimitability: capabilities that competitors find difficult to imitate or obtain Complexity, causal ambiguity, culture and history, change - Non-substitutability: Organizational knowledge: the collective intelligence, specific to an organization, accumulated through both formal systems and the shared experience of people in that organization Diagnosing strategic capabilities Benchmarking: understanding how an organization compares with others Value chain: describes the categories of activities within an organization which, together, create a product or service 1. Primary activities: logistics, operations, marketing and sales, and service 2. Support activities: firm infrastructure. human resources, technology and procurement. Value network: the set of inter-organizational links and relationships that are necessary to create a product or service Profit pools: refer to the different levels of profit available at different parts of the value network Activity mapping: indentifying more detailed activities which underpin strategic capabilities SWOT analysis: Summarizes the strengths, weaknesses, opportunities and threats likely to impact on strategy development


Chapter 4: Strategic Purpose Stakeholders: individuals or groups that depend on an organization to fulfill their own goals and on whom, in turn, the organization depends. Strategic purpose Mission statement: provides employees and stakeholders with clarit y about the overriding purpose of the organization. Vision statement: concerned with the desired future state of the organization Statements of corporate values: they communicate the underlying and enduring core ‘principles’ that guide an organization’s strategy and define the way that the organization should operate Objectives: statements of specific outcomes that are to be achieved. Corporate governance: Concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake in an organization. Governance chain: Shows the roles and relationships of different groups involved in the governance of an organization. Two governance structures: - Shareholder model: higher rate of return, encouragement of economic growth, - Stakeholder model: Social responsibility and ethics Corporate social responsibility: the commitment by organizations to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as wel as the local community and society at l arge. - The laissez-faire view: only responsibility of business is to make a profit and provide for the interest of shareholders. - Enlightened self -interest: tempered with recognition of the long-term financial benefit to the shareholder of well-managed relationships with other stakeholders - Forum for stakeholder interaction: incorporates multiple stakeholder interests and expectations rather than just shareholders as influences on organizational purposes and strategies. - Shapers of society: financial considerations as of secondary importance or a constraint.


Chapter 5: Culture and Strategy Strategic drift: The tendency for strategies to develop incrementally on the basis of historical and cultural influences, but fail to keep pace with a changing environment Fases: 1: Incremental Change (strategic change keeps up with the little environmental change) 2: Strategic drift (environmental change but strategic change stays same) 3: Flux (downturn in performance) 4: Transformational change of death Historical influences Path dependency: Where early events and decisions establish ‘policy paths’ that have lasting effects on subsequent events and decisions. Cultural influences Organizational culture: The taken-for-granted assumptions and behaviors that make sense of people’s organizational context and therefore contributes to how groups of people respond and behave in relation to issues the face. - National and regional cultures - Organizational field : community of organizations that interact more frequently with one another than with those outside of the field and that have developed a shared meaning system Legitimacy: concerned with meeting the expectations within an organizational field in terms of assumptions, behaviors and strategies. - Organizational culture: values, beliefs, behaviors and paradigm(taken for granted assumptions) Cultural web: Shows the behavioral, physical and symbolic manifestations of a culture - Core: Paradigm - Routines: the way doing thing around here - Rituals: activities or special events that emphasize, highlight or reinforce what is important in the culture - Stories - Symbols: objects, events, acts or people that convey, maintain or create meaning over and above their functional purpose. - Power : the ability of individuals or groups to persuade, induce or coerce others into following certain courses of actions - Organizational structures: the roles, responsibilities and reporting relationships in organizations - Control systems: the formal and informal ways of monitoring and supporting people within and around an organization


Chapter 6: Business Strategy Bussines Strategy: Generic strategies and Interactive Strategies Strategic Business Units: Supplies goods or services for a distinct domain of activity. Market based or capabilities based. Generic Strategies Competitive strategy: concerned with how a strategic business unit achieves competitive advantage in its domain of activity Competitive advantage: how an SBU creates value for its users both greater than the costs of supplying them and superior to that of rival SBUs. - Having lower costs - Have products that are exceptional valuable to customers Porter defines 3 generic strategies: - Cost leadership: broad target, lower cost: economies of scale With parity: charge same prices, translating cost advantage wholly into extra profit With proximity: lower price than average lower costs but still better profits than the average competitor - Differentiation: broad target, differentiation: higher prices - Focus: Narrow target  cost focus of differentiation focus The Strategy Clock: Another way of approaching the generic strategies - Differentiation zone: differentiation with and without price premium, focused differentiation - Low price zone: no frills: low benefits and low prices - Hybrid strategy zone - Non-competitive strategies zone: low benefits and high prices Strategic lock in: uses become dependent on a supplier and are unable to use another supplier without substantial switching costs Interactive strategies Hypercompetitive strategy: demands speed and initiative. Small moves rather than big moves, be unpredictable, mislead the competition Cooperation Game theory: encourages an organization to consider competitors’ li kely moves and the implications of these moves for its own strategy. This is particularly relevant where competitors are interdependent . So where the outcome of choices made by one competitor is dependent on the choices made by other competitors.


Chapter 7: Corporate strategy and diversification Scope: Is concerned with how far an organization should be diversified in terms of products and markets. Strategy directions: Diversification: Increasing the range of products or markets served by an organization. Related diversification: Diversifying into products or services with relationships to t he existing business. The Ansoff product/market growth matrix

Market penetration: Implies increasing share of current markets with the current product range. Retaliation from competitors and legal constraints are two possible constraints. Product development: Where organizations deliver modified or new products (or services) to existing markets. Despite the potential for relatedness, product development can be an expensive and high risk activity because: new strategic capabilities, project manager risk. Market development: Involves offering existing products to new markets. New users of new geographies. Conglomerate diversification: Involves diversifying into products or services with no relationships tot the existing businesses. Diversification drivers: - Exploiting economies of scope: Refers to efficiency gains through applying the organization’s existing resources or competences to new markets or services. - Stretching corporate management competences. Dominant logic: The set of corporate level managerial competences applied across the portfolio of businesses. - Exploiting superior internal processes - Increasing market power: Increases the potential for mutual forbearance: The ability to retaliate across the whole range of the portfolio acts t o discourage the competitor from making any aggressive moves at all. Synergy: The benefits gained where activities or assets complement each other so that their combined effect is greater than the sum of the parts. Diversification and performance:


Vertical integration: Entering activities where the organization is its own supplier or customer. Thus it involves operating at another stage of the value network. Backward integration: refers to development into activities concerned with the inputs into the company’s current business Forward integration: refers to development into activities concerned with the outputs of a company’s current business. Dis-integrate: Outsourcing: The process by which activities previously carried out internally are subcontracted to external suppliers. The decision to integrate or subcontract rests on the balance between two distinct factors: - Relative strategic capabilities: Does the subcontractor have the potential to do the work significantly better? - Risk of opportunism: Is the subcontractor likely to take advantage of the relationship over time? Value creation and the corporate parent: Value-adding activities: - Envisioning: The corporate parent can provide a clear overall vision or strategic intent for its business units. - Coaching and facilitating: The corporate parent can help business unit managers develop strategic capabilities. - Providing central services and resources - Intervening: The corporate aren’t should be able to closely monitor business unit performance and improve performance either by replacing weak managers or by assisting them in turning around their businesses. Value-destroying activities: - Adding management costs - Adding bureaucratic complexity - Obscuring financial performance 3 types of corporate parenting:

Portfolio manager: Operates as an active investor in a way that shareholders in the stock market are either too dispersed or too inexpert to be able to do. Synergy manager: A corporate parent seeking to enhance value for business units by managing synergies across business units. Parental developer: Seeks to employ its own central capabilities to add value to its businesses.


Portfolio matrices The BCQ (or growth/share) Matrix: Uses market share and market growth criteria for determining the attractiveness and balance of a business portfolio.

The directional policy (GE-McKinsky) matrix: Positions business units according to how attractive the relevant market is and the competitive strength of the SBU in that market. The parenting matrix: the Ashridge Porfolio display


Chapter 8: International Strategy International strategy: Refers to a range of options for operating outside an organization’s country of origin. Global strategy: Involves high coordination of extensive activities disperses geographically in many countries around the world Internationalization drivers: Yip’s globalization framework: Sees international strategy potential as determined by market drivers, cost drivers, government drivers and competitive drivers. Market drivers: Similar customer needs, global customers, transferable marketing Cost drivers: Scale economies, country-specific differences, favorable logistics. Government drivers: Trade policies, technical standards, host government policies. Competitive drivers: Interdependence between countries, competitors’ global strategies Geographic sources of advantage: Locational advantage: Porter’s diamond: Suggests that Locational advantage may stem from local factor conditions; local demand conditions; local related and supporting industries and from local firm strategy structure and rivalry. The international value network Global sourcing: Purchasing services and components from the most appropriate suppliers around the world regardless of their location International Strategies: Global-local dilemma: Relates to the extent to which products and services may be standardized across national boundaries or need to be adapted to meet the requirements of specific national markets. - Simple export: Concentration of activities in one country, low coordination of activities - Multidomestic; Loosely coordinated internationally but i nvolves a dispersion overseas of various activities - Complex export: Still involves location of most activities in a single country, but builds on more coordinated marketing. - Global strategy: Highly coordinated activities disperses geographically around the world Market selection and entry: Ghemawat’s CAGE framework: Emphasizes the importance of cultural, administrative, geographical and economic distance. Types of entry: Exporting, licensing and franchising, joint ventures, wholly owned subsidiaries. The staged international expansion model: Proposes a sequential process whereby companies gradually increase their commitment to newly entered markets, as they build market knowledge and capabilities. Roles in an international portfolio: - Strategic leader - Contributors - Implementers - Blackholes


Chapter 9: Innovation and Entrepreneurship Innovation dilemmas Innovation: Involves the conversion of new knowledge into a new product, process or service and the putting of this new product, process or service into actual use. - Technology push or market pull - Product or process innovation - Open or closed innovation. Open innovation: the deliberate import and export of knowledge by an organization in order to accelerate and enhance innovation. - Technological or business-model innovation. Business model: describes how an organization manages incomes and costs through the structural arrangement of i ts activities. Innovation diffusion: Diffusion: the process by which innovations spread amongst users. The pace of diffusion: - Degree of improvement - Compatibility - Complexity - Experimentation (free initial trial periods) - Relationship management (how easy is it to get information etc.) - Market awareness (Consumer awareness) - Network effects - Customer innovativeness Diffusion S-curve: Reflects a process of initial slow adoption of innovation, followed by a rapid acceleration in diffusion, leading to a plateau representing the limit to demand Tipping point: where demand for a product suddenly takes off, with explosive growth Tripping point: when demand suddenly collapses Innovators and followers: First-mover advantage: Where an organization is better off than its competitors as a result of being first to market with a new product, process or service. Disruptive innovation: creates substantial growth by offering a new performance trajectory that, even if initially inferior to the performance of existing technologies, has the potential to become markedly superior. Entrepreneurship and relationships: Entrepreneurial life cycle: Progresses through start-up, growth, maturity and exit Social entrepreneurs: Individuals and groups who create independent organization to mobilize ideas and resources to address social problems, t ypically earning revenues but on a not-for-profit basis.

17blz, 19, 19, 20


Chapter 10: Mergers, Acquisitions and alliances Organic development: where a strategy is pursued by building on and developing an organization’s own capabilities. It can be either continuous or radical. Radical is corporate entrepreneurship Corporate entrepreneurship: refers to radical change in the organization’s business, driven principally by the organization’s own capabilities. Mergers and acquisitions: Acquisition: One firm taking over the ownership of another, hence the alternative term takeover. Merger: Combination of two previously separate organizations, typically as more or less equal partners. Motives for M&A’s: • Strategic: extension, consolidation (increasing power), capabilities • Financial: financial efficiency, tax efficiency, asset stripping or unbundling • Managerial: personal ambition, bandwagon effects M&A’s processes: Target choice: strategic fit, organizational fit • Valuation • Integration: the extent of strategic independence, the need for organizational autonomy •


Strategic alliances: Where two or more organizations share resources and activities to pursue a strategy Collective strategy: About how the whole network of alliances of which an organization is a member competes against rival networks of alliances. Collaborative advantage: About managing alliances better than competitors Types of strategic alliance: - Equity alliance: creation of a new entity that is owned separately by the partners involved. (joint venture) - Non-Equity alliance: based on contracts (franchising, licensing Motives: - Scale alliances - Access alliances - Complementary alliances: A form of access alliances, but involve organizations at similar points in the value network combining their distinctive resources so that they bolster each partner’s gaps or weaknesses. - Collusive: Secretly organizations collude together to increase market power. (illegal) Processes: - Courtship: Courting potential partners - Negotiation - Start up - Maintenance - Termination: Sale/divorce, amicable separation, or extension


Chapter 11: Evaluating Strategies Three key evaluation criteria: SAFe: Suitabilit y, Acceptability, Feasibility Suitability: Does a proposed strategy address the key opportunities and constraints an organization faces? Acceptability: Does a proposed strategy meet the expectations of stakeholders? Is the level of risk acceptable? Is the likely return acceptable? Will stakeholders accept the strategy? Feasibility: Would a proposed strategy work in practice? Can the strategy be financed? Do people and their skills exist or can they be obtained? Can the required resources be obtained and integrated? Suitability: Concerned with assessing which proposed strategies address the key opportunities and constraints an organization faces. Acceptability: Whether the expected performance outcomes of a proposed strategy meet the expectations of stakeholders - Risk: concerns the extent to which the outcomes of a strategy can be predicted Sensitivity analysis, financial ratios, break-even analysis - Return: the financial benefits the stakeholders are expected to receive Financial analysis, Shareholder value analysis, cost-benefit - Stakeholder reactions Owners, bankers, regulators, employees, the local community, customers Feasibility: Concerned with whether a strategy could work in practice - Financial - People and skills - Resource integration Evaluation criteria: Four qualifications - Conflicting conclusions and management judgment - Consistency between the different elements of strategy - The implementation and development of strategies - Strategy development in practice


Chapter 12: Strategy development processes Intended strategy development: Deliberately formulated or planned by managers Strategic leadership vision and command - Strategic leadership as command - Strategic leadership as vision - Strategic leadership as decision-making - Strategic leadership as symbolic Strategic planning: systematized, step-by-step, procedures to develop an organization’s strategy Externally imposed strategies: managers face what they see as the imposition of strategy b y powerful external stakeholders. Emergent strategy development: Strategies emerge on the basis of a series of decisions, a pattern in which becomes clear over time Logical incrementalism: the development of strategy by experimentation and learning Political processes: strategies develop as the outcome of bargaining and negotiation amon powerful interest groups Prior decisions Organizational systems Managing strategy development Multiple processes Organizational ambidextery: In some organizations there may be a need for both exploitation and exploration Different contexts Managing intended and emergent strategy


Chapter 13: Organizing for success Structure: give people formally defined roles, responsibilities and lines of reporting with regard to strategy. Functional: divides responsibilities according to the organization’s primary specialist roles such as production, research and sales. Multidivisional: built op of separate divisions on the basis of products, services or geographical areas Matrix: combines different structural dimensions simultaneously, for example product divisions and geographical territories or product di visions and functional specialisms Multinational/Transnational

International divisions: Stand-alone division added alongside the structure of the main home-based business Local subsidiaries: Have the most of the functions required to operate on their own in their particular local market. Global product divisions: Often used where economies of scale are very important. Transnational corporations: combines local responsiveness with high global coordination Project-based: where teams are created, undertake the work and are then dissolved.


Systems: Support and control people as they carry out structurally defined roles and responsibilities. Types of control systems:

Direct supervision: the direct control of strategic decisions by one or a few individuals, typically focused on the effort put into the business by employees. Cultural systems: aim to standardize norms of behavior within an organization in li ne with particular objectives. (recruitment, socialization, reward) Performance targets: focus on the outputs of an organization, such as product quality, revenues or profits. (balance scorecards: set performance targets according to a range of perspectives, not only financial. strategy maps: link different performance targets into a mutually supportive causal chain supporting strategic objectives.) Market systems: involve some formalized system of ‘contracting’ for resources or inputs from other parts of an organization and for supplying outputs to other parts of an organization. Planning systems: plan and control the allocation of resources and monitor their uti lization. - Strategic planning style - Strategic control - Financial control Configurations: The set of organizational design elements that interlink together in order to support the intended strategy. McKinsey 7-S framework: highlights the importance of fit between strategy, structure, systems, staff, style, skills and super ordinate goals.


Chapter 14: Leadership and strategic change Diagnosing the change context Types of change: - Adaption: change that can be accommodated within the current culture and occur incrementally - Evolution: change in strategy that requires culture change, but over time. - Reconstruction: change that may be rapid and involve a good deal of upheaval in an organization, but which does not fundamentally change the culture. - Revolution: change that requires rapid and major strategic as well as culture change Context of change: - Time - Scope: how much change in required - Preservation: what organizational resources and characteristics need to be maintained - Diversity: how homogeneous are the staff groups and divisions within the organization - Capability: managerial and personal capability to implement change - Capacity: degree of change resource available - Readiness: is there a felt need for change across the organization - Power Forcefield analysis: provides an initial view of change problems that need to be t ackled by indentifying forces for and against change Leading and managing strategic change Strategic leadership: the process of influencing an organization (or group within an organization) in its effort towards achieving an aim or goal. - Envisioning future strategy - Aligning - Embodying change Situational leadership: successful strategic leaders are able to adjust their style of leadership to the context they face Theory E and Theory O: Theory E: is change based on the pursuit of economic value and it typically associated with the top-down, programmatic use of the ‘hard’ levers of change. Theory O: change based on the development of organizational capability. The emphasis is on cultural change, learning and participation in change programmes and experimentation.


Styles of strategic leadership - Education: persuading others of the need for and means of strategic change - Collaboration: involvement of those affected by strategic change in setting the change agenda - Participation: retains the coordination of and authority over processes of change by a strategic leader who delegates elements of the change process - Direction: involves the use of personal managerial authority to establish a clear strategy and how change will occur. - Coercion: The imposition of change or the issuing of edicts about change Levers for managing strategic change - A compelling case for change (convincing) - Challenging the taken-for-granted - Changing operational processes and routines - Symbolic changes - Power and political systems - Change tactics: timing, Managing strategic change programs Turnaround strategy: emphasis is on speed of change and rapid cost reduction and/or revenue generation Revolutionary change Evolutionary change


Chapter 15: The practice of strategy The strategists - Top managers and directors Chief executive officer: responsible for all strategic decisions Top management team: often an organization’s executive directors, share responsibility for strategy. Non-executive directors: have no executive management responsibility and in theory should be able to offer an external and objective view on strategy. - Strategic planners: managers with a formal responsibility for coordinating the strategy process - Middle managers - Strategy consultants The paradox of strategy inclusion is that those with the most access to the CEO on strategy are often strategic planners and strategy consultants who have little responsibility for strategy implementation and little knowledge of business on the ground . Strategizing activities - Strategy analysis - Strategic issue-selling: process of gaining the attention and support of top management and other important stakeholders for strategic issues. - Strategic decision-making - Communicating the strategy Strategizing methodologies - Strategy workshops: involve groups of executives working intensively for o ne or two days, often away from office, on organizational strategy. - Strategy projects: involve teams of people assigned to work on particular strategic issues over a defined period of time - Hypothesis testing: a methodology used particularly in strategy projects for setting priorities in investigating issues and options. - Business cases: provides data and argument in support of a particular strategy proposal, e.g. investment in new equipment - Strategic plans: provides the data and argument in support of a strategy for t he whole organization


Exploring Strategy Summary

Recommend Documents