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VUCA > Consolidation of Processes and Steps > Flashcards

Consolidation of Processes and Steps Flashcards

1
Q

[Megatrends] Examples

A

MEITU’D

  1. global Marketplace (blur categorisation; increasing interdependence)
  2. Economic power shift
  3. rise of the Individual
  4. enabling Technology
  5. Urbanisation and rise of the middle class
  6. changing Demographics [WAYP]
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2
Q

[VUCA] Volatility

A

D’COST

  • Duration of outcome is unknown
  • Cause is known
  • Outcome-based: the outcome is volatile, not the event itself
  • Shocks and Triggers: change is caused by shocks and triggers imposed by the environment
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3
Q

[VUCA] Overcoming Volatility

A

RAD

  • Redundancy
  • Agility
  • Decoupling
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4
Q

[VUCA] Uncertainty

A

P’FRIK

  • unPredictable future
  • managers lack Foresight due to unpredictability
  • Relationship between cause and effect is poorly understood
  • Information investment is needed
  • good Knowledge is lacking
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5
Q

[VUCA] Overcoming Uncertainty

A

Postures [SAR] and Moves [NOOB]

Postures:

  • Shape the future
  • Adapt to the future
  • Reserve the right to play

Moves:

  • NO regret moves
  • Options
  • Big bets
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6
Q

[VUCA] Complexity

A

Institutionalised and Individual

IIDU

  • Imposed
  • Inherent
  • Designed
  • Unnecessary
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7
Q

[VUCA] Overcoming Complexity

A

Within the company

  • modelling
  • better use of data
  • better forecasting tools
  • risk mitigation
  • triangulation

In the environment

  • adapt
  • align to new environment complexity
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8
Q

[VUCA] Ambiguity

A

causal mechanism between cause and effect is unknown

- presence of unknown-unknowns

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9
Q

[VUCA} Overcoming Ambiguity

A

Experimentation

  • Lab
  • Quasi
  • Field
  • Natural

Systems thinking and understanding context

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10
Q

[Speed of Change] Challenge for Big Businesses

A

SMU PIT

  • Scope of the industry hard to define
  • learn from Mavericks
  • identify and address Uncertainties
  • adopt multiple Perspectives
  • address risks with Initiative
  • Time pacing
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11
Q

[Speedy of Change] Building Second-Order Capabilities. How many steps?

A
  1. Reading and Acting on Signals
  2. Experimentation
  3. Manage Complex Multi-company Systems
  4. Mobilisation and Motivation
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12
Q

[Speed of Change] Characteristics of Time Pacing

A

VPR

  • strategic Vision
  • Proactive
  • Rhythmic
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13
Q

[Speed of Change] Managing Transitions. Which scenarios of transitions?

A

MAPE

  • M&A
  • Advertisement campaigns
  • shifts in Product development
  • Entering and leaving markets
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14
Q

[Disruption] Challenges for firms

A

B-ICE

  • Bias: status quo, sunk cost, employee resistance
  • Ignorance of other customers, only listening to current customers
  • organisational Culture: VPR
  • destruction of Existing capabilities
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15
Q

[Disruption] Dealing with Disruption

A

SIA

  • new organisational Structure: when current processes don’t match
  • spin out an Independent organisation: when values don’t match
  • Acquire an organisation: which has VPR aligned
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16
Q

[Organisational Boundaries] Types of Organisational Boundaries

A

5 types

  1. Vertical
  2. Horizontal
  3. Stakeholder
  4. Demographic
  5. Geographic
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17
Q

[Organisational Boundaries] TCA: Governance

A

Market
Intermediate
Hierarchical

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18
Q

[Organisational Boundaries] Capability Consideration

A

CCA

  • Collaboration with firms possessing capabilities
  • Creating Capabilities
  • Acquiring Capabilites
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19
Q

[Organisational Boundaries] Difficulties in Creating Capabilities

A

CHAP

  • social Complexity
  • Historical context
  • causal Ambiguity
  • Path dependence
20
Q

[Organisational Boundaries] Difficulties in Acquiring Capabilities

A

V-RULL

  • reduces the Value of desired capabilities
  • costly to Reverse if undesirable
  • Unwanted baggage
  • costly to Leverage
  • Legal constraints
21
Q

[Organisational Boundaries] Goal of Boundary Spanning Leadership

A

DAC

  • Direction
  • Alignment
  • Commitment
22
Q

[Organisational Boundaries] Boundary Spanning Leadership

A

Managing Boundaries

  • buffering
  • reflecting

Forging Common Grounds

  • connecting
  • mobilising

Creating New Frontiers

  • weaving
  • transforming

to achieve the Nexus Effect

23
Q

[Organisational Learning] Methods in Organisational Learning

A

Single Loop Learning
Double Loop Learning
Learning Organisations = learning orientations + facilitating factors

24
Q

[Organisational Learning] Challenges in Double Loop Learning

A

SBP

  • Status quo bias
  • Bandwidth
  • Power and social dynamics
25
Q

[Organisational Learning] Learning Orientations

A

1 source. 4 focus, 2 modes

Knowledge source

Product-process focus
Learning focus
Value chain focus
Skills development focus

Documentation mode
dissemination mode

26
Q

[Organisational Learning] Facilitating Factors

A

O-LEVElS

  • climate of Openness
  • involved Leadership
  • continuing Education
  • operational Variety
  • Experimental mindset
  • Systems perspective
27
Q

[Analytics] Challenges in Analytics

A

D-HHAM

  • type of Data to use: qualitative vs quantitative
  • the need for a Hypothesis
  • balancing Human touch with analytics
  • transforming data into Actionable plans
  • Modelling
28
Q

[Scenarios and Options] Options

A

PICS

  • exploring Possibilities
  • Investment with no immediate returns
  • Cost of creating, maintaining and exercising options need to be considered
  • Strategic tool, foresight and flexibility
29
Q

[Scenarios and Options] Creating Options

A

HPOPO

  • uncover Hidden constraints
  • establishing Processes to build new strategic options
  • Optimising strategic portfolio: cost-benefit analysis
  • combining Planning and Opportunism
30
Q

[Scenarios and Options] Scenarios

A

scenarios are imagined futures

SAGE

  • act as early warning Signals
  • Assess robustness of core competencies
  • Generate strategic options
  • Evaluate risk and returns
31
Q

[Scenarios and Options] Scenario Planning

A

OESCI

  • Orientation
  • Exploration
  • Scenario and narrative creation
  • options Consideration
  • Integrating into current management processes
32
Q

[Management Theory] Developing a Theory

A

OCH

  • Observation and description of the phenomenon
  • Categorisation of the phenomenon meaningfully
  • Hypothesis generation to form a theory
33
Q

[Integrative Thinking] Wicked Problems

A

IICCCI
Impossible to solve due to incomplete, contradictory and changing requirements that are difficult to recognise

Complex Interdependencies, therefore traditional reductionist approaches are unable to solve wicked problems

34
Q

[Integrative Thinking] How many steps?

A

4 Steps: SCDR

  • determining Salience
  • analysing Causality
  • envisioning the Decision architecture
  • achieving Resolution
35
Q

[Resilience] Characteristics of Resilience

A

CAR

  • Change before the case for changing becomes desperately obvious (2nd order capabilities)
  • Anticipate and adjust to deep secular trends (double loop learning, options and scenarios)
  • Reinventing business models as circumstances change
36
Q

[Resilience] Challenges and Solutions to Achieving Resilience

A

PICS
- Political: Liberating Resources
- Ideological: Embracing Paradox and understanding optimisation
- Cognitive: Conquering Denial, Philip Yeo, SEER strategies
- Strategic: Valuing Variety, BOB
~ learning from Biodiversity
~ Organisational ecology
~ Balancing the costs of valuing variety

37
Q

[Agile Absorption] Types of Agility

A

SOP

  • Strategic (leverage operational, game changing opportunities such as new products and services to new clients)
  • Operational (seize opportunities within the same space, focused business model)
  • Portfolio (resource allocation)
38
Q

[Agile Absorption] Absorption

A

BODIS

  • Buffering capacity: to weather volatility and fluctuations
  • Offensive strategy: to outlast rivals
  • Defensive strategy: to buffer against threats from competitors or changing environments
  • Increase the chance of success for the company without offering the best product
  • Secure an early lead and reinforce market position
39
Q

[Agile Absorption] Sources of Absorption

A

PVC FEW

  • Protected core market
  • Vast size
  • Customer lock-in
  • low Fixed costs
  • Excess staff
  • War chest of cash
40
Q

[Agile Absorption] Tips for Agile Absorption

A

FATS

  • keep good Fats, trim bad Fats
  • maintain culture of Agility
  • manage Trade-offs
  • Simultaneously maintain flexibility and speed
41
Q

[Competing on the Edge] Firms are Complex Adaptive Systems

A

Firms: systems with numerous parts, agents and stakeholders, not a singular entity

Complex: interdependence give rise to self-organised behaviour, diverse interacting agents
- no central control: leaderless yet orderly

Adaptive: interactions generate changes

42
Q

[Competing on the Edge] Competing on the Edge

A

allows a firm to CHANGE CONSTANTLY while letting a SEMI-COHERENT STRATEGY and direction emerge

43
Q

[Competing on the Edge] Where do you want to go

A

addresses Semi-Coherence: DICUUP

  • Diverse
  • Inefficient
  • Continuous
  • Unpredictable
  • Uncontrolled
  • Proactive
44
Q

[Competing on the Edge] How to get there

A

3 Steps

  1. The edge of chaos: structure vs chaos (EDA)
  2. The edge of time: past, present, future
  3. Time pacing
45
Q

[Competing on the Edge] Laws of Competing on the Edge

A

10 Laws: SOL
Strategy (TORP)
1. strategy is Temporary: changes are opportunities, not threats
2. strategic Options: strategy is diverse, emergent and complicated
3. Reinvention is the goal
4. live in the Present: to maximise your current minimum structure

Organisation (SRT)

  1. Stretch out the past
  2. Reach into the future
  3. Time pace change

Leadership (GSR)

  1. Grow the strategy: to revamp
  2. drive the Strategy of business: not top-down
  3. Repatch businesses to markts: alignment and capture emerging opportunities

VUCA (11 decks)

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