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PRESENTATION SLIDES T o a ccompany : Contemporary Strategy Analysis ( 6 th edition, Blackwell Publishing, 2008 ). Robert M. Grant. Assisted by Kate Grant. The Concept of Strategy. OUTLINE. The role of strategy in success A framework for strategy analysis

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Presentation Transcript
slide1

PRESENTATION SLIDES

To accompany:

Contemporary Strategy Analysis

(6thedition, Blackwell Publishing, 2008)

Robert M. Grant

Assisted by Kate Grant

the concept of strategy
The Concept of Strategy

OUTLINE

  • 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
slide4

What Makes a Successful Strategy?

Successful

Strategy

EFFECTIVE IMPLEMENTATION

Long-term, simple and agreed objectives

Profound understanding of the competitive environment

Objective appraisal of resources

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.
slide6

The Evolution of Strategic Management

1950s 1960s-early 70s Mid-70s-mid-80s Late 80s –1990s 2000s

Budgetary Corporate Positioning Competitive Strategic

planning & planning advantage innovation

control

Financial Planning Selecting Focusing on Reconciling

control growth &- sectors/markets. sources of size with

diversificationPositioning for competitive flexibility &

leadership advantage agility

Capital Forecasting. Industry analysis Resources & Cooperative

budgeting. 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. networks

Budgeting created. Rise of Matrix structures Refocusing. Self -organiz

systems corporate Outsourcing. ation & virtual

planning organization

DOMINANT

THEME

MAIN

ISSUES

KEY CONCEPTS&

TOOLS

MANAGE-MENT

IMPLIC-

ATIONS

the basic framework strategy 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

INDUSTRY

ENVIRONMENT

• Competitors

•Customers

•Suppliers

STRATEGY

STRATEGY

slide8

Sources of Superior Profitability

INDUSTRY

ATTRACTIVENESS

Which businesses should we be in?

CORPORATE STRATEGY

RATE OF PROFIT ABOVE THE COMPETITIVE LEVEL

How do we make money?

COMPETITIVE ADVANTAGE

How should we compete?

BUSINESS STRATEGY

strategy making design or process
Strategy Making : Design or Process?

Strategy as Design

Strategy as Process

Planning and

rational choice

Many decision makers

responding to multitude of

external and internal forces

INTENDED

STRATEGY

EMERGENT

STRATEGY

REALIZED STRATEGY

  • 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 andlearning.
strategy making processes within the company multiple roles of strategy
Strategy Making Processes within the Company: Multiple Roles of Strategy

Strategy as Decision

Support

Improves the quality

of decision making

Strategy as Coordination

and Communication

Creates consistency

and unity

Improves perform-

ance by setting

high aspirations

Strategy as Target

the role of analysis
The 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.