Week 8 Flashcards
How do strategies emerge?
- deliberate - intentional formultaion and planning - top managers (Degin lens)
- Emergent - emerges over time not in the grand plan - (variety and experience lense)
Realised - deliberate and emergent (not mutually exclusive,
Difference between deliberate and emergent strategies
Deliberate strategies include:
- strategic leadership, vision, command
- strategic planning
- externally imposed strategies
Emergent strategies include:
- logical incrementalism
- continuity
- political processes
- Organisational systems.
What is the role of the strategic leader?
Strategic leadership as command - deliberate , direct control.
pros: speed of adaption, innovation, unorthodox strategies. - difficult to immitate.
cons: risk taking, irrelevant strategies
Stratgic leadership as Vision - guides vision, mission and strategic intent.- (motivates others by creating a shared belief)
Strategic leadership as decision making - (intepreting data, timley decision making.
Strategic leadership as an embodiment of strategy -eg: Richard branson face of Virgin.
What is strategic planning?
Systematic planning and exploration that help to develop an organisation’s strategy.
What are the stages of strategic planning ?
1) Initial guidlines from corporate
2) business level planning
3) corporate intergration of business plans
4) financial and targets set. (performance monitoring)
What is the role/ purpose of strategic planning?
1) formulating strategies
2) intergration (business level and corporate)
3) learning ( discovery driven planning)
4) communicating (objectives)
additional benefits:
- Sense of security and logic
-involvement (creating ownership of strategy)
Criticism of strategic planning?
- Confusing managing strategy with planning
- detachment from reality (managers doing day to day activites)
- paralysis by analysis - information overload - miss main issue of strategy
- overcomplex- takes time
- dampening of innovation - systematic approach
What are the characteristics of logical incrementalism?
- enviromental uncertainity
- experimentation (Sub systems)
- general goals (incrementally)
what is the political process and what is it influenced by?
The political process looks at the outcomes of strategy development though barganing and negiotiation from powerful interest groups.
Influenced by:
- competition for resources (subsystems)
- personal expereience
- different access to information
- relative influence of shareholders.
emergent strategy as Continuity?
influences the stratgy by:
- emergent stratgy as continuity (series of strategic moves)
- Path dependency
- Culture and strategy development.
organisational system
- tries to make sense of issues
- bases for providing solutions for strategic issues.
What are the implication of managing strategy development
-multiple processes (not mutually exclusive)
-no right way
-can be emergent or deliberate
-different perspectives
senior executives, public sector managers and family businesses.
How can a firm manage its emergent and deliberate strategies
unrealised strategies - aspect of deliberate strategy that is not realised (changes in enviroment, managers change mind , deliberate stratgey chosen)
Managing deliberate strategy - rooted in culture (clear mission+ vision)
challenges to strategic drift - incremental chnages though culture and history - not in pace with changing enviroment.
who is a non-executive director
dont have a management role - provide objective information guides the organisational strategy
Describe the role of the strategic planner
- responsible for coordinating the strategy process
- from inside the organisation
-work closely with CEO - with no formal power
-unlikely to be seen in small business (big, public and non-for priofit organisation)
-
What is the role of middle management?
- seen as not having long-term perspective.
- lmited role in strategy implementation
- busy with operations
- can be involved if they have key organisational positions, access to networks, strategic conversations.
What is the role of strategic consultants?
- outside of the business
- implement strategic change, transfer knowledge, formulating strategies.
What is an open strategy?
involves more people in the strategy process. (people from inside and outside organisation)
pros: more ideas - better strategy
cons: delay the stratgy, leak info to competitors
What is strategic issue selling?
- gaining the attention of top management and special interest groups for strategic issues though:
- issue packaging
- informal and formal channels
- timing
- selling alone or though a coailition.
Different types of bias in decision making?
- confirmation bias (data to make decision)
- anchor bias (one piece of information)
- risk bias
- saliency bias (halo effect)
- champion bias (Devils advocate)
- affect bias (emotions)
How can a firm share communication strategy for employees?
Focus
Media
employee engagement
impact (strong story line)
what is a strategising activity?
is a workshop or project that aims to create a business case or strategic plan.
what is a strategic plan and describe the components
strategic plan - data and arguments in support strategy for the whole organisaiton
- strategy statement
- mission, vision, objective s
- enviromental analysis
- capabilities analysis
- proposed strategies
- recources required
- key changes
