BN 926 Strategy and Management of Change. What Is Strategy and what are the future challenges to its successful management? Professor Julian Lowe. Re – introduce the concept of strategy How does strategy work in successful organizations?
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What Is Strategy and what are the future challenges to its successful management?
Professor Julian Lowe
5. Strategy as organisation, interpretation, chaos
4. Strategies for stretch
Create the future
3. Planning for fit
2. Forecast-Based Planning
Predict the future
Mission This is what we do and how we relate to stakeholders
Vision These are our aspirations and what we hope to become
Strategy This is how we will achieve our goals, more towards our vision and fulfill our mission
Stephen Cummings and David Wilson
Eli Lilly Arnold Industries
Industry or enterprise?
Too Many Firms Pursue Best Practice and Seek Operational Effectiveness Through Benchmarking, TQM, JIT Etc. But This Is Not Strategy. Strategy Is About Being Different, Not Being ‘As Good As’.
Long-term = Distant return
Ambition = Risk-taking
Commitment = Big bucks
The new frame we are suggesting here is different:
Long-term = A point of view about industry evolution and how to shape it
Ambition = A stretching aspiration that is derisked through the tools of resource leverage
Commitment = An intellectual and emotional commitment that ensures consistency and constancy
Representative authors addressing strategic management questions
Nature of rents
Fundamental units of analysis
Short-run capacity for strategic reorientation
Role of industrial structure
(1)Attenuating competitive forces
Industries, Firms, Products
Structural conditions and competitor positioning
(2) Strategic conflict
(3) Resource-based perspectives
(4) Dynamic capabilities perspective
Dosi, Teece, and Winter (1989)
Prahalad and Hamel (1990)
Processes, Positions, Paths
Asset accumulation, replicability and inimitability
Paradigms of Strategy(Teece, Pisano and Schuen)