INBS480 Study Guide

INBS480 Study Guide - A global global-strategy book Why...

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A global global-strategy book Why study global strategy? What is strategy? Fundamental questions in strategy What is global strategy? What is globalization? Global strategy and globalization at a crossroads A global global strategy book Text departs from traditional view of global strategy Important to respond to local needs Traditional view of global strategy is incomplete and unbalanced Sacrifices local responsiveness and global learning Ignores how domestic firms compete with each other and with foreign entrants Traditional global strategy is only appropriate for large MNEs in developed countries It is dangerous to ignore less developed economies Why study global strategy Job and career aspiration opportunities Awareness of what is going on in the world Avoid downside risks of globalization What is strategy Origin – Greek Word (Strategos) – Art of the general Sun Tzu, Chinese military strategist in 500 B.C. Modern-day application to business and competition dates to the 1960s Plan versus Action – Strategy is “explicit, rigorous formal planning” versus “a set of flexible, goal-oriented actions” Strategy as Theory-how to compete successfully Firms have both intended and emergent strategies One firm’s strategies may not work in all situations Past success does not guarantee future success It is often difficult to change strategy Strategy should give coherence to decisions and actions Managers must exert effective strategic leadership Strategy as a plan Concerned with drafting the plan of war and shaping the individual campaigns and, within these, deciding on the individual engagements A set of concrete plans to help the organization accomplish its goal Strategy as action The art of distributing and applying military means to fulfill the ends of policy A pattern in a stream of actions or decisions The creation of a unique and valuable position, involving a different set of activities, making trade-offs in competing, creating fit among a company’s activities Strategy as integration
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The determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage Our definition: Strategy as theory Integrating both planning and action schools Leveraging the concept of theory A theory serves two purposes: Explanation and prediction Recurring replications and experimentations To establish the temporal and geographic limits of an existing theory Understanding the difficulty of strategic change Fundamental Questions in Strategy Why do firms differ?
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