Chapter 1 Flashcards
What are the three Horizons for strategy?
- Extend and defend core business
- Build emerging businesses
- Create viable options
Strategy statements should have these three main themes
- Goals
- Scope
- Advantages or capabilities
What are strategy’s three branches?
- Context
- Content
- Process
Context
Internal and External
Content
Strategic Options
Process
Formation and implementation
What is the Strategic Position concerned with?
- external environment
- strategic capabilities
- goals
- culture
Strategic Choices involves
directions in which strategy might move and the methods by which strategy might be pursued
Strategy in Action involves
how strategies are formed and how they are implemented
Strategy Lenses
ways of looking at strategy issues differently in order to generate many insights
What is Corporate-level Strategy concerned with?
concerned with an organization’s overall scope
What is Business-level Strategy concerned with?
concerned with how to compete
What is Operational-level Strategy concerned with?
concerned with how resources, processes and people deliver corporate and business level strategy
What are the four strategy Lenses
design, experience, variety, and discourse
Fundamental questions for Strategic Position
- What are the environmental opportunities and threats?
- What are the organisation’s strengths and weaknesses?
- What is the basic purpose of the organisation?
- How does culture shape strategy?
Fundamental questions for Strategic Choice
How should business units compete?
• Which businesses to include in the portfolio?
• Where should the organisation compete internationally?
• Is the organisation innovating appropriately?
• Should the organisation buy other companies, form alliances or go it alone?
Fundamental questions for Strategy in Action
Which strategies are suitable, acceptable and feasible?
• What kind of strategy-making process is needed?
• What are the required organisation structures and systems?
• How should the organisation manage necessary changes?
• Who should do what in the strategy process?
Strategy as design is
a logical process and evaluations
Strategy as experience is
assumptions and taken for granted way of doing things
Strategy as Variety is
ideas generated from the variety of people in and around the organization
Strategy as Discourse is
managers seeking power through the language they use
