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contemporary strategy analysis by Robert M Grant Chapter 1 presentation
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PRESENTATION SLIDES To accompany:
Contemporary Strategy Analysis: Concepts, Techniques, Applications
(5th edition, Blackwell, 2004)
Robert M. GrantRobert M. Grant
Assisted by Kate Grant
The Concept of StrategyThe Concept of Strategy
• The role of strategy in success
• A framework for strategy analysis
• The evolution of strategic management
• Corporate strategy and business strategy
• Strategy making: Design or process?
• The role of strategy
OUTLINE
Elements of SuccessElements of Success
MADONNA GIAP & NORTH RICHARD WILLIAMS
VIETNAMESE MILITARY (VENUS & SERINA’S DAD)
GOALS Single-minded quest for Reunification of Vietnam Wealth & recognition
stardom. under Communist rule.
UNDERSTANDING Identified emerging trends Intimate knowledge of terrain. Careful diagnosis of THE in popular culture. Understanding U.S. political the physical and ENVIRONMENT Recognized power of sex. system. Psychological determinants
Understood showbiz of success in women’sdistribution channels. professional tennis
RESOURSE Recognized limited raw Recognized economic and Systematic developedAPPRAISAL talent. Relied on strengths military weaknesses and key skills and physical,
in self-promotion, image- political strengths. mental and social
creation, relationship attributes from an early age. management
IMPLEMENT- Commitment to hard work. Tight control. Long-term Careful meshing of
ATION Disciplined, inspirational commitment. Effective roles—father, coach &
Leadership. Attention to propaganda. Inspirational manager. Sustained,
detail. leadership. supportive leadership.
Successful
Strategy
Long-term, simple and
agreed objectives
Profound understanding of the competitive
environment
Objective appraisal of resources
Common Elements in Successful StrategyCommon Elements in Successful Strategy
EFFECTIVE IMPLEMENTATION
What is Strategy?What is Strategy?
• Distinguishing strategy from tactics:– Strategy is the overall plan for deploying
resources to establish a favorable position.– Tactic is a scheme for a specific maneuver.
• Characteristics of strategic decisions:– Important.– Involve a significant commitment of
resources.– Not easily reversible.
The Evolution of Strategic ManagementThe Evolution of Strategic Management
DOMINANTTHEME
1950s 1960s-early 70s Mid-70s-mid-80s Late 80s –1990s 2000s
Budgetary Corporate Positioning Competitive Strategicplanning & planning advantage innovationcontrol Financial Planning Selecting Focusing on Reconcilingcontrol growth &- sectors/markets. sources of size with
diversification Positioning for competitive flexibility &leadership advantage agility
Capital Forecasting. Industry analysis Resources & Cooperativebudgeting. Corporate Segmentation capabilities. strategy.Financial planning. Experience curve Shareholder Complexity. planning Synergy Portfolio analysis value. Owning
E-commerce. standards. — Knowledge Management—
Coordination Corporate Diversification. Restructuring. Alliances && control by planning depts. Global strategies. Reengineering. networksBudgeting created. Rise of Matrix structures Refocusing. Self -organizsystems corporate Outsourcing. ation & virtual
planning organization
MAINISSUES
KEY CONCEPTS
&TOOLS
MANAGE-MENT
IMPLIC-ATIONS
The Basic FrameworkStrategy: the Link between the
Firm and its Environment
The Basic FrameworkStrategy: the Link between the
Firm and its Environment
THE FIRM
Goals & Values
Resources &Capabilities
Structure & Systems
THE INDUSTRYENVIRONMENT
CompetitorsCustomersSuppliers
STRATEGYSTRATEGY
Sources of Superior Profitability
RATE OF PROFIT ABOVE THE
COMPETITIVE LEVEL
How do we make
money?
INDUSTRY
ATTRACTIVENESS
Which businesses
should we be in?
COMPETITIVE ADVANTAGE
How should we compete?
CORPORATE STRATEGY
BUSINESS STRATEGY
Strategy Making : Design or Process?Strategy Making : Design or Process?
Strategy as Design
Planning andrational choice
INTENDEDSTRATEGY
Many decision makersresponding to multitude ofexternal and internal forces
REALIZED STRATEGY
EMERGENT STRATEGY
Strategy as Process
Mintzberg’s Critique of Formal Strategic Planning:•The fallacy of prediction – the future is unknown•The fallacy of detachment -- impossible to divorce formulation from implementation•The fallacy of formalization --inhibits flexibility, spontaneity, intuition and learning.
Mintzberg’s Critique of Formal Strategic Planning:•The fallacy of prediction – the future is unknown•The fallacy of detachment -- impossible to divorce formulation from implementation•The fallacy of formalization --inhibits flexibility, spontaneity, intuition and learning.
Strategy Making Processes within the Company: Multiple Roles of Strategy
Strategy Making Processes within the Company: Multiple Roles of Strategy
Strategy as DecisionSupport
Strategy as Coordinationand Communication
Strategy as Target
Improves the qualityof decision making
Creates consistencyand unity
Improves perform- ance by setting high aspirations
The Role of AnalysisThe Role of Analysis
• Strategy analysis improves decision processes, but doesn’t give answers.
• Strategy analysis assists us to identify and understand the main issues.
• Strategy analysis helps us to manage complexity.
• Strategy analysis can enhance flexibility and innovation by supporting learning.
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