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05- Strategy Diamond

05- Strategy Diamond - Are you sure you have a strategy...

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1 1 Are you sure you have a strategy? Hambrick and Frederickson’s Strategy Diamond 2 What is Strategy? xrhombus An integrated, overarching concept of how the business will achieve its objectives xrhombus It is comprised of many elements square4 not just low prices square4 not just globalization square4 not just quality square4 not just growth square4 not just an ad campaign square4 not just a new product xrhombus Recommendations that consider not only what a company should do, but why & how 3 How Others Have Defined Strategy “Strategy is about positioning an organization for sustainable competitive advantage . It involves making choices about which industries to participate in, what products/services to offer, and how to allocate corporate resources to achieve such a sustainable advantage. And its primary goal is to create value for shareholders and other stakeholders by providing customer value.” de Kluyver, 2000 Strategic Thinking Drucker School of Mgt.
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2 4 Strategizing is Determining HOW to: achieve our performance targets out-compete our rivals- create greater value at lower cost achieve sustained competitive advantage make our strategic vision a reality Strategy is our GAME PLAN for winning. 5 Levels of Strategy Corporate Strategy Business Strategies Functional Strategies Two-Way Influence Two-Way Influence In what industries or businesses should we compete?
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