Week 6 strategic formulation and implementation Flashcards
A strategic development process is a methodical way to produce successful strategy.
What is the difference between intended and emergent strategy?
Intended strategy - deliberately planned by managers. Also called rational/analytical view or a design view.
Emergent strategy - emerges in organisations over time.
A strategic leaders personality, position or reputation can influence strategy.
What are the 4 ways strategic leadership can be manifested?
CViDS
- Command – dictated by an individual
- Vision– vision, mission, intent motivates
- Decision making – data, decisions, buy in
- Symbolic – embody strategy
What is a strategic planning system and the 4 stages in the strategic planning cycle?
GBCF
(good boys core fruit)
Systemised step by step procedures to develop an organisation’s strategy
- Guidelines – assumptions, priority, guidelines and corporate expectations
- Business level – SBU’s draw up
- Corporate level – aggregates business plans,
- Financial and strategic targets – basis for performance monitoring of businesses, sets key priorities
What are the roles strategic planning system plays in an org?
CPULC
- Co-ordinating - create overall strategy
- Psychological - engages, sense of direction for decision makers
- Understanding - means for managers to understand strategic issues
- Learning - enquiry challenges conventions
- Communicating - intended strategy, objectives & measures
What are the 5 main dangers associated with planning?
CLOAC
- Confusing a plan for strategy
- Lose touch with reality
- Ownership probs - see part not whole
- Analysis paralysis
- Constrains innovation
What is externally imposed strategy?
Where external forces dictate strategy, managers see it as intended.
Emergent strategy comes about through a series of decisions
Describe the continuum of emergent strategy (LOPP)
Seen as a continuum according to how deliberately the occur over time.
Diff explanations are: o Logical incrementalism o Org systems and routines o Political processes o Prior decision
What is logical incrementalism
Strategy by experimentation and learning. Bottom up, small steps. Features:
- General goals - encourage ideas
- Environmental scanning
- Experimentation - around a strong core business
- Coordination - draws emergent strategies together for stakeholders
How can strategy be an outcome of political processes?
WP
Def - strategies outcome of stakeholder bargaining:
2 influences
• Warring parties leads to compromise
• Powerful resist change
How can strategy be influenced by prior decisions?
MPC
Suggests prior decisions inform or constrain strategy. 3 aspects:
Managed continuity - next move in context of past move
Path dependent - moves havelasting effect
Culture - outcome of assumptions, routines, behaviours
How can strategy be the product of org systems?
MA
Strategy influence by the systems and routines lower down the org, offering:
- Make sense of issues
- A way to address those issues
What is org ambidexterity?
The ability to:
- exploit strategic capabilities for competitive advantage
- explore bases of new capability.
How can perception influence strategy development?
Perspective of level of management will make strategy development seem different to different people
Execs see intended
Middles see emergent
Fam business sees strong leader
How does context influence strategic development?
CIE
Org Characteristics and environment require different types of strategy (command, intended, emergent)
Stable + small = command type strategy
Stable + large = intended strategy
Dynamic +complex =coordinating, emergent strategy
Complex + complex -= devolved emergency strategy
How can strategy be managed?
Intended = document / processes Emergent = pattern of decisions over time
The strategists choose how to enact strategy through analytical concepts, influencing skills and group acceptance.
Who are they? (SSMC)
Senior management - CEO, top managers, directors. Get the blame & credit
Strategic planners - formally coordinate strategy process
Middle managers - provide inputs and distribute strategy.
Consultants - strategy development and analysis
Which strategists to include in the development process depends on the issue at hand. :
- High change + low urgency = broad participation
- High change + high urgency = narrow participation
- Low change + high urgency = narrow participation
- Low change + low urgency = broad participation
What is a strategy analysis and what are its key implications for managers?
Provides information for good strategic decisions.
Implications:
Design according to real purpose
Invest appropriately in technical quality
What is strategic issue-selling?
The process of gaining the attention and support of top management and other important stakeholders for strategic issues.
What are the four helpful guidelines for making strategic decisions?
MRTC
Multiple alternatives
Real time info
Trusted advisors
Consensus preferred
Effective communication strategy needs to advocate on behalf of the strategic plan and inquire after the needs of stakeholders.
What are the 4 aspects of good communication?
FEIM
Focus - key issues
Engagement - buy in
Impact - memorable
Media - correct channel
Describe the 4 main strategic planning methodologies.
SSHB
Strategy workshops - isolated planning sessions
Strategy projects - teams of people
Hypothesis testing - for complex problems in time constraints
Business cases and strategic plans - justification
