Sess02_Coherence_spring_2009

Sess02_Coherence_spring_2009 - A good Strategy Three levers...

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1 A good Strategy? Three levers of strategy Every strategy affects one or more of these three levers Revenue Cost Risk Agenda: Session 2 Defining Strategy Strategic Coherence Measurement of performance What is Strategy? Distinguishing strategy from tactics: Strategy is the overall plan for deploying resources to establish a favorable position. Tactic is a scheme for a specific maneuver. Characteristics of strategic decisions: Important. Involve a significant commitment of resources. Not easily reversible. The Evolution of Strategic Management DOMINANT THEME MAIN ISSUES CONCEPTS & TECHNIQUES IMPLEMENT- ATION 1950s 1960s Early-mid Late1970s Late 1980s Late 1990s 1970s early 1980s early 1990s early 2000s Budgetary Corporate Corporate Analysis of Quest for Strategic planning & planning strategy industry & competitive innovation control competition advantage The “New Economy” Financial control Planning growth Diversifica- Positioning Competitive Innovation & ion advantage knowledge Budgeting Forecasting & Portfolio Analysis of Resource Dynamic project appraisal investment planning. industry & analysis. sources of planning Synergy competition Case advantage market competences Knowledge share management cooperation Emphasis on Rise of Diversifi- Industry/market Restructuring Virtual orga- financial corporate planning cation. selectivity. BPR. nization. management departments Quest for Active asset Refocusing Alliances & formal global management Outsourcing Quest for planning market share critical mass The Basic Framework Strategy: the Link between the Firm and its Environment THE FIRM Goals & Values Resources & Capabilities Structure & Systems THE INDUSTRY ENVIRONMENT Competitors Customers Suppliers STRATEGY
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2 Different Types of Resources Physical Assets Plant, Equipment, and Real Estate Financial Assets Cash and Leverage Human Assets Individual Skills and Capabilities Intangible Assets Brand Names, Technology, Reputation Organizational Assets Organizational Routines & Team-Embodied Skills Organization Structure Formal Definition of authority Conflict Resolution Cross-functional teams Systems
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