strategy: a global perspective

by (2014)
ISBN-10 1408082675 ISBN-13 9781408082676
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Summary - strategy: a global perspective

  • 1 Introduction

  • The nature of strategy

    Multiple definitions of strategy, not one that is the definitive correct one

    The three dimensions of strategy

    • context - conditions surrounding strategic activities
    • Process - Flow of strategy activities 
    • Content - outcome of strategy activities

    Three stages of the strategy process:

    • Forming
    • Changing 
    • Innovation

    Three dimensions of strategy context:

    • Industry
    • Organizational
    • International


    Two types of strategic problems:

    • Puzzles
    • Dilemmas

    Both/and problems:

    • Tradeoffs
    • Paradoxes

    Dialectic approach: Discussing the two opposite possibilities to come to a higher level resolution
  • Reading 1.3:

    Culture should always be considered in management.
    Foreign cultures can be advantageous for the management at home, since they give enlightening experiences
  • 1.1 Identifying the strategy issues

  • Two approaches to learning:
    - Tools driven: understanding the tools first, then solve the problems with the combined tools.
    - Problem driven: understanding the problem first, then comes searching for the right tools based on the type of problem.
  • 1.1.1 Strategizing, missioning and visioning

  • There are two important inputs for strategy: the cognitive process for individual strategists (strategizing) and purpose as the impetus for strategy activities (missioning and visioning)
  • 1.1.2 Strategy dimensions: Content, process and context

  • There are three dimensions of strategy:
    - Strategy content: the combined decisions and choices that lead a company into the future. The what of strategy: what is and should be, the strategy for the company and each of its constituent units?
    - Strategy process: The manner in which strategies come about. The how, who and when of strategy: how is, and should strategy be made, analyses, dreamt up, formulated, implemented, changed and controlled; who is involved; and when do de necessary activities take place?
    - Strategy context: The set of circumstances under which both the strategy content and the strategy process are determined. The where of strategy; where (which firm and environment) are strategy content and process embedded?
  • Waar gaat strategy process over?
    the how, who and when of strategy: how is and should strategy be made, analysed, dreamt-up, formulated, implemented, changed and controlled; who is involved, and when do the necessary activities take place?
  • Waar gaat strategy content over?
    what of strategy: what is/should be the strategy for the company and each of its constituent units?
  • waar gaat strategy context over?
    The where of strategy, in which firm and which environment are strategy content and strategy process embedded?
  • Strategy content, process and context are thee distinguishable dimensions, and are interrelated (they interact).
  • 1.1.3 Strategy content: Business, corporate and network levels

  • The most common distinction is between levels of aggregation is between the functional, business and corporate level.
  • Functional level: specific functional aspects/departments of a company (operationsstrategy, marketingstrategy, financialstrategy, etc.)
  • Business level: integration of functional level strategies for a distinct set of products/services for a distinct group of customers.
  • If firms are in two or more businesses; corporate level strategy: aligns the various business level strategies.
  • Multi company or network level strategy: when firms cluster into groups of two or more collaborating organizations.
  • Outside in: positioning in the environment, the firm adapts to the demands of the market/game.
    Inside out: companies search for environments and positions that best fit with their resource base. 
  • 1.1.4 Strategy process: Forming, changing and innovating

  • Strategies are usually formed incrementally, as organizations think and act in small iterative steps, letting strategies emerge as they go along.
  • Strategy formation, change and innovation are different aspects of the strategy process, which are strongly linked and partially overlapping.
  • 1.1.5 Strategy context: Industry, organizational and international

  • It is wise for managers to strive for a fit between the strategy process, strategy content and the specific circumstances prevalent in the strategy context.
  • In short, strategy context can be determined, instead of letting it determine.
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Example questions in this summary

Waar gaat strategy content over?
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Waar gaat strategy process over?
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waar gaat strategy context over?
1
Puzzles are?
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