1.Strategy Process Flashcards
1.2) Strategy Definiton
4 Metaphores of Strategy
- Plan (how?)
- Position (where?)
- Pattern in actions over time (what?)
- Perspective (why?)
1.2) Strategy Definiton
Strategy is answering these Questions
- Position
- Purpose
- Resources
- Fit
1.2) Strategy Definiton
Strategy Visualization
Corporate (Bussines (Functional))
1.3) Strategy Evalution
3 Overarching Objectives of Strategy
1)Explain Superior Performance:
- Explain performance differences between firms within one industry
- Explain performance differences between industries and strategic groups
2) Evaluation Strategic Moves:
- Assess performance effect of specific strategic moves
- Identify success factors and boundary conditions
3) Explain Strategic Behaviour:
- Understand decision-making processes
- Identify driving forces of strategic change
1.4) Strategy Models
Linear Process:
1) Mission and Vision (become,user group, value creation / Success Indicator, Niche Definition, Timeline)
2) Long Term objectives (Measurable, Realistic, Challenging)
3) Extern/Intern Analysis
4) Str. Formulation
5) Str. Implementation
6) Str. Evaluation
1.4) Strategy Models
Growing Critisim
1) Fallacy of Prediction: future remains unknown and cannot be predicted
2) Fallacy of Formalization: process formalization inhibits learning, experimentation and adaptation.
3) Fallacy of Detachment: link between strategy formulation and implementation
1.5) Strategy Schools
Strategy Schools
1) Design School:
- predict, build a plan forehead
2) Learning School:
- learn from what happend
1.6) Result
Design vs Emergence
Intentionally desigend | Gratually shaped
Figuring out | Finding out
Forecas/anticipate | Partially unknown
Make commitments/prepare | Postpone commt.
Structured/comprehensive | Unstructured/fragmented
Hierarchical | Dispersed
Optimal resource allocation | Learning
Top-down | Bottom-up
