C1 définition of strategy sbs 2015 t2 pdf

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C1 – Definition of strategy GEST - 468 & MISM Strategy & Strategic Analysis Pr Bruno Wattenbergh 1

Transcript of C1 définition of strategy sbs 2015 t2 pdf

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C1 – Definition of strategy

GEST - 468 & MISM Strategy & Strategic Analysis

Pr Bruno Wattenbergh 1

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M1 GEST 468 2015-2016 Pr Bruno Wattenbergh C1 – Definition of Strategy

Sign in for Dilbert daily cartoon http://www.dilbert.com

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•  Reminder !

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Secretary of the Course ? •  Elected or not ?

• 

•  …

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Books to acquire :

1.  Exploring Strategy 9th Edition

2.  B u s i n e s s M o d e l Generation

3.  The Strategist

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Cases ? Articles ? Blog ?

•  Have you got the cases ?

•  Do you know you can find them in the ULB Library

•  Have you found the blog ? It works ?

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•  Have you got your September issue of HBR ? And October is published already !

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Objectives of the course ?

•  Understanding the Strategic Imperative to create, deliver and capture value ; understand what is - and where are the sources of - competitive advantage ; defining strategy and other relevant elements as v is ion, miss ion s tatement , va lue ; d iscover methodologies to understand “Business models”, to analyze environment and understand industries dynamics ; understand the challenge to implement and execute strategy. Consider to be a “strategist” …

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1.  Introduction

2.  Definition of strategy

3.  Business Model

4.  Environment Analysis

5.  Capacities

6.  Culture, vision, missions & Purpose

7.  Value chain

8.  Generic strategies, positioning & Value propositions

9.  Blue Ocean Strategies

10.  M a r k e t S e g m e n t a t i o n , D i s t r i b u t i o n c h a n n e l s & Customer relationships

11.  Internal growth strategies

12.  M&A and Alliances

13.  Internationalization

14.  Innovation

15.  The Strategist

Structure of the course

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Readings for this session ?

•  HBR : What is strategy ?

•  HBR : Can you say what strategy is ?

•  Book Exploring Strategy 9th Edition : –  Pages 3 to 21

–  Table 1.1 “The strategy checklist” 10

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@  each  new  course  …    

You  give  me  some  takeaway  from  the  previous  course  !    

What  do  you  remember  of  the  introduc<on  …  ?  

Or  any  ques<on  …  ?  

Come  on  !  Dare  …  J  

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Why do you have a “Strategy Course” ?

•  … ?

•  … ?

•  … ?

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?

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Why do you have a “Strategy Course” ?

•  Because the (financial) performances of companies can be dramatically different … even in the same sector …

•  From 1919 à 2000 :

–  1$ invested in a representative portfolio of US stocks à 4,200$

–  1$ invested in Coca-Cola à 200,000$

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•  The “Firm” effect : ≠ in profitability within the same industries …

15 Source  :  “The  Strategist”  Cynthia  A.MONTGOMERY    

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This means that …

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Need to analyze & understand the factor(s) of firms performances

“So many options” !

•  Innovation or Operational Efficiency ? Fast or low growth ?

•  Dominate the market or niche market ?

•  Adapt to or escape the given (evolving) environment(s) : legal, human, financial, environmental, … ?

•  Be better … ? Or be different ? How ?

•  …

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Who are those people ? What do they have in common ?

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10/01/15 MISM - Strategy - Pr Bruno M.WATTENBERGH - © 19

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David & Lady Gaga … ?

Are they any better than the others (competitors) ?

… or they are different ?

David … has no military experience, refuses to wear an armor … Any military executive would seek more experienced and bigger / stronger warrior … Better or different ?

Lady Gaga … follows fashion or creates her own fashion and trends ? Better or different ?

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Conclusion @bout David & Lady Gaga … ?

•  Winning strategy comes not necessarily from being always better than the competitors …

•  Being different … behaving differently … has to be considered as a potential winning strategy …

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Case to prepare ?

WSJ & Yahoo Peanut Butter M a n i f e s t o o f B r a d Warlinghouse VP of Yahoo.

Tr y t o i d e n t i f y w h i c h elements of the text can be qualified as “strategic” ?

Assignments for the next session (C1)

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Yahoo in trouble …

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•  Brad Warlinghouse … MBA – HBS 97’

•  Hired @ Yahoo in 2003 à 2006 – Senior VP Comm.

•  http://www.bloomberg.com/video/brad-garlinghouse-s-p e a n u t - b u t t e r - m a n i f e s t o - p a r t - 2 -KQm_RZ4rSg6F2mYDeaWzbg.html

•  h t t p s : / / w w w. l i n k e d i n . c o m / t o d a y / p o s t / a r t i c l e /20130104145057-3807-what-i-got-wrong-in-the-peanut-butter-manifesto

What do you think @bout the story ?

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Yahoo Peanut Butter Manifesto WSJ 06’

Internal memo to the top managers of Yahoo!

Arguing that :

“Yahoo! is spreading his resources too thinly like peanut butter on a slice of bread” …

What does this mean ?

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Yahoo peanut butter manifesto WSJ 06’ …

“We lack a focused, cohesive vision for our company. We want to do everything and be everything – to everyone. We’ve known this for years, talk about it incessantly, but do nothing to fundamentally address it. We are scared to be left out. We are reactive instead of charting an unwavering course.”

“Our inclination and proclivity to repeatedly hire leaders from outside the company results in disparate visions –rather than a leadership team rallying around a single cohesive strategy.”

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Yahoo peanut butter manifesto WSJ 06’ …

•  Why the themes in Brad’s note can be qualified of “strategic” ?

– Quote the key strategic elements in the note …

– Explain why there are “strategic issues” …

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Courtesy  Of    Mr  Walid  Safaan  

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Remember the “Corporate Strategy

Model”

Exploring Strategy

9th Edition

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Remember the “Corporate Strategy

Model”

Exploring Strategy

9th Edition

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Do  every<ng  and  be  

everything  

Be  reac<ve  and  not  proac<ve  

Organized  in  silos  

Focus  on  nothing  in  par<cular  

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Courtesy  Of    Mr  Walid  Safaan  

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Remember the “Corporate Strategy

Model”

Exploring Strategy

9th Edition

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Remember the “Corporate Strategy

Model”

Exploring Strategy

9th Edition

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Redundancy  

Bureaucra<c  

Collision    Dropped  balls  

Timid  in  pursuing  goals    

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Courtesy  Of    Mr  Walid  Safaan  

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Remember the “Corporate Strategy

Model”

Exploring Strategy

9th Edition

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Remember the “Corporate Strategy

Model”

Exploring Strategy

9th Edition

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No  hairy  decision  

Analysis  paralysis  

No  macro  perspec<ve  

Lack  of  focus  &  ownership  

Analysis  paralysis  

Analysis  paralysis  

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Ok we do agree we have some strategic

problems …

What would you do ?

What have you found in Brad’s

Memo ?

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Courtesy  Of    Mr  Walid  Safaan  

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Courtesy  Of    Mr  Walid  Safaan  

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Free association ? •  Name now three words that come to mind

when you hear the word “Strategy” … ? –  … ? –  … ? –  … ?

Tell us “why” ? 42

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43 Courtesy  of  Cynthia  Montgomery  (HBS)    

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Examples of “Strategic issues” •  How should Google – originally a search company – manage its

entry into the market for mobile phones ?

•  Should universities concentrate their resources on research excellence or teaching quality or try to combine both ?

•  How should a small video games producer relate to dominant console providers such as Nintendo and Sony ?

•  What should a rock band do to secure revenues in the face of declining CD sales ?

Strategy 9th Edition

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Let’s search for a definition of “strategy” ?

… the direction and scope of an organization over the long-term, which achieve advantage for the organization through its configuration of resources within a changing environment to the needs of m a r k e t s a n d f u l f i l l s t a k e h o l d e r s expectations …

Gerry Johnson & Kevan Scholes

Strategy 9th Edition 46

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Let’s search for a definition of “strategy” ?

… the determination of the basic long-term goals and objectives of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals …

Alfred CHANDLER

Professor of business history

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Let’s search for a definition of “strategy” ?

… the deliberate search for a plan of action that will develop a business’s competitive advantage and compound it …

Bruce Henderson

Founder of the Boston Consulting Group

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Let’s search for a definition of “strategy” ?

… the strong focus on profitability not just growth, an ability to define a unique value proposition and a willingness to make though trade-offs in what not to do …

Michael Porter Author of 18 books and numerous articles including Competitive

Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition.

6 time winner of the Mc Kinsey Award for the best Harvard Business Review article of the year.

Most cited author in business and economics

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Let’s search for a definition of “strategy” ?

… the strong focus on profitability not just growth, an ability to define a unique value proposition and a willingness to make though trade-offs in what not to do …

Michael Porter

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Let’s search for a definition of “strategy” ?

“...the purposeful creation of a f a v o r a b l e i n e q u a l i t y i n a l a n d s c a p e o f c h a n g i n g conditions.”

Sir Alexander D. Ferguson

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Let’s search for a definition of “strategy” ?

“...the purposeful creation of a favorable inequality in a landscape of changing conditions.”

Sir Alexander D. Ferguson

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What  is  /  could  be  such  a    “favorable  inequality”  ?  

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Let’s listen to Michael PORTER … in “What is strategy” (HBR nov.-déc 1996) :

•  What are the key learning's in this article ?

•  What have you learned ? What has been wondering you ?

•  What kind of statement confirm your own experience ?

•  Do you think / consider this (old) article still pertinent today ? Why ?

•  What are your conclusions ?

•  Are you ready to write down your own definition ?

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Which are the words we have so far ?

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ü  ü  ü  ü  ü  ü  ü  ü 

?  

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Which are the words we have so far ?

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•  Direction •  Scope •  Long-term •  Advantage

•  Configuration •  Resources •  Environment (changing …) •  Needs of the market

•  …

•  Stake(share)holders •  Adoption •  Course of action •  Deliberate search

•  Business competitive advantage •  Focus •  Unique Value Proposition •  Trade-offs / choices

•  …

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Which concepts do we have so far ?

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•  Strategy à long-term direction of the firm •  Strategy à the overall plan … to deploy any resources the firm possess •  Strategy implies to make choices (though choices) :

–  Directions à clear image (control ex-post)

–  Way of doing things (execution)

–  What to do / not to do à value chain !

–  What to do / not to do à value proposal !

•  Strategy is about achieving unique positioning (<-> competitors) •  Strategy ultimate goal is a sustainable competitive advantage over competitors

to preserve lasting profits

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Strategy is about … ?

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Strategy is about helping the Manager in the quest to make the most of the firm’s assets !

Managing is related to decision-making à “Executive” !

–  Which Investment, which human resource management policies, which organizational structure, … ?

Strategy is about developing a set of tools and conceptual maps for uncovering the systematic relationships between the choices the Manager makes and the performance the firm realizes …

Many people take decisions in the firm … Strategy is about aligning those decision … avoiding that this process is only driven by the buffeting it receives from the competition (MeToo / Copy Cat).

Strategy is about developing a clear vision … and a common sense about how to achieve it !

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Strategy is not …

"   About following fashion …

"   Or jumping on the bandwagon … but trends matter J

"   New technology …

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Strategy is not …

"   Internationalization …

"   M&A ...

"   And not about doing things better à operational effectiveness

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Specificity of the “Strategy” •  Take into consideration the enterprise as a whole and not only one

domain (marketing – production – RH – finance - …) à « Strategic Fit »

•  Synthesis of the other domains ? … NO … !

–  Use information's from other domains … but …

–  … use its own methodologies.

•  Freedom (Free will) of the Executives managers !

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Ultimate definition ?

Strategy is the direction and scope of an organisation over the long term, … which achieves (lasting) competitive advantage … in a c h a n g i n g e n v i r o n m e n t … t h r o u g h i t s configuration of resources and competences …with the aim of fulfilling stakeholder expectations.

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Is good strategy so common ? Survey June 2013 Booz & Co.

•  Most Executives do not think their strategy will lead to success (54%)

!!! •  Most (53%) think employees & customers do not understand their

strategy

•  67% deem they are not leveraging distinctive capabilities Please read : http://www.strategyand.pwc.com/global/home/what-we-think/cds_home/the_concept/our_leading_research_on_strategy

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What is the timeline and the lifetime of a strategic decisions

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Strategies typically measured over years …

•  3 great horizons of time for business & activities :

1.  Extend and defend core business (declining trend).

2.  B u i l d e m e r g i n g businesses (new sources of profits).

3.  Create viable options (uncertain future).

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The goal of strategy ?

Is it a long run sustainable competitive advantage … one that accumulates such a powerful lead over competitors that no one can catch up ?

Courtesy Cynthia Montgomery (HBS)

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Is a competitive advantage made to last ?

71 hXps://www.youtube.com/watch?v=sYiaAtPSp2s    

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Regression Toward the Mean

Most Competitive Advantages are Fleeting

Top Third Middle Third Bottom Third

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40

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20

10

0

Courtesy  Cynthia  Montgomery  -­‐  HBS  

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The Evanescence of a Difference that Matters

Whatever constitutes strategic advantage WILL EVENTUALLY CHANGE.

What endures is the ongoing need to ADD VALUE. The ongoing need to guide and develop an organization so IT CONTINUES TO MATTER.

Courtesy  Cynthia  Montgomery  -­‐  HBS  

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Pablo Picasso

Success is dangerous. One begins to copy oneself, and to copy oneself is more dangerous than to copy others. It leads to sterility.

Courtesy  Cynthia  Montgomery  -­‐  HBS  

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Levels of strategy …

•  Corporate-level strategy is concerned with the overall purpose and scope of an organization and how value will be added to the different parts (business units) of the organization.

•  Business-level strategy is about how to compete successfully in particular markets (also named competitive strategy).

•  A strategic business unit is a part of an organization for which there is a distinct external market for goods or services that is different from another SBU.

•  Operational strategies are concerned with how the component of an organization deliver effectively the corporate - and business - level strategies in terms of resources, processes and people

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What about the “Strategic Management” ? Strategic management includes understanding the strategic position of a organization, making strategic

choices for the future, and managing strategy in action.

3 great strategic area of responsibilities for the CEO or Board …

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Corporate  Strategy  Model  

From  the  book  Exploring  Strategy    

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Corporate  Strategy  Model  

From  the  book  Exploring  Strategy    

Forces ? Weaknesses ?

DNA ?

Opportunities ? Threats ?

Mission Statement ?

A picture !

A static analysis

Vision ?

Path to growth ?

Decision ?

Action !

Source !

Operation !

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Strategic position ?

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What is a “Strategic Position” ?

Strategic position is concerned with the impact on strategy of the external environment, an

organisation’s strategic capability (resources & competences) and the expectations and

influence of stakeholders.

Can be used as a “Diagnostic Tool”

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Questions about Strategic Positions •  Fundamental questions for Strategic Position :

–  What are the environmental opportunities and threats ?

–  What are the organization's strengths and weaknesses ?

–  What is the basic purpose of the organization ?

–  How does culture shape strategy ?

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Fundamental questions for Strategic Position : – What are the environmental opportunities and

threats ?

– What are the organization's strengths and weaknesses ?

– What is the basic purpose of the organization ?

– How does culture shape strategy ?

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O.T.

S.W.

S.W.O.T

D.N.A & Values Specific Know How

Specific Competences

What we have been created for ! The reason we are existing as a firm

Mission Statement

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But strategy is also an integrated set of choices :

–  Who will you serve,

–  Where a company will play,

–  How it will play,

–  What it wants to accomplish.

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Strategic choices involve understanding the underlying bases for future strategy at both the

business unit and corporate levels and the options for developing strategy in terms of both the directions

and methods of development.

à Choices !

Can be named the “Deliberate Strategy”

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Some examples of strategic choices ?

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Directions

•  The options for strategy in terms of directions in which the strategy might move …

•  Objectives … •  Visions … •  Scope : industry, markets,

customer, zone, …

Methods

•  The options for strategy in terms of methods by which strategy might be pursued

•  Model •  Positioning •  Activities : value chain (let

do or diy ?)

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Strategic choices ?

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Scope Allocation of resources

The company Vision

Future products & markets à Future

cash cows

The industry where the company decide to

compete (Market scope)

The geographic

scope

Organic or external growth

Share R&D ?

Level of autonomy ?

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Deliberate Strategy ?

–  The intentions : written strategy issued from the strategic process, validated by the executives and communicated …

OR …

Emerging Strategy ?

–  Emerging strategy is a set of actions, or behavior, consistent over time, “a realized pattern [that] was not expressly intended” in the original planning of strategy

http://hbswk.hbs.edu/item/6991.html

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Deliberate or/and Emerging strategy ?

•  “Emergent” vs “Deliberate” strategies : The idea of “emergent strategy is pursued by Rosabeth Moss Kanter, a professor at Harvard Business School.

•  Based on the experiences of companies interviewed in a recent research project (including Williams-Sonoma, Sun Microsystems and Reuters) she promotes the “improvisational” model, named after the techniques of improvisational theatre and to be distinguished from the 'scripted' model of traditional planning (akin to traditional theatre).

•  The improvisational model does not rely on a full script, brings in the audience, and trusts the actors to be unpredictable to produce innovation.

•  Improvisers invent strategy by exploring new possibilities they create as they interact with their audience. Speedy response is more important than early perfection.

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Strategy in action is concerned with ensuring that strategies are working in practice.

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Strategy vs Tactic ? Savielly Tartakover (chess master) :

"Tactics is knowing what to do when there is something to do”.

“Strategy is knowing what to do when there is nothing to do.”

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14 questions to understand and describe strategy ?

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Page  19  

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96 hXps://hbr.org/2012/08/simplify-­‐your-­‐strategy.html    

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“Vision without execution is hallucination.”… Thomas Edison !

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Executing Strategy ?

A brilliant strategy may put you on the competitive map. But only solid execution keeps you there. Unfortunately, most companies struggle with implementation. That’s because they over-rely on structural changes, such as reorganization, to execute their strategy (Gary L. Neilson, Karla L. Martin, and Elizabeth Powers).

It’s hard to balance pressing operational concerns with long-term strategic priorities. But balance is critical : World-class processes won’t produce success without the right strategic direction, and the best strategy won’t get any- where without strong operations to execute it (Robert S. Kaplan and David P. Norton - Harvard Business Review January 2008).

http://www.iveybusinessjournal.com/topics/strategy/the-execution-imperative-the-gap-closing-trade-secrets-of-companies-that-consistently-get-things-done#.UfjFOxa3U1w

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Executing Strategy ?

•  Research by Neilson, Martin, and Powers shows that execution exemplars focus their efforts on two levers far more powerful than structural change:

–  Clarifying decision rights—for instance, specifying who “owns” each decision and who must provide input

–  Ensuring information flows where it’s needed—such as promoting managers laterally so they build networks needed for the cross-unit collaboration critical to a new strategy

•  W.Chan Kim and Renée Mauborgne (in Harvard Business School Press October 2006) identify an additional lever essential for strategy execution: the alignment of people behind a strategy. Incentives don’t in themselves create alignment. You also need a culture of trust and commitment.

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The Corporate Strategy Model

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hXps://hbr.org/2013/03/diagnos<c-­‐thinking.html    

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Strategy as a job ? •  Not a privilege of top management : strategy, is part of many managers’ ordinary

jobs à the Strategist (book of Cynthia Montgomery) !

•  Middle and lower-level managers have to work within their organization's strategy, meeting the objectives set by the strategy and observing the constraints.

•  Managers have to communicate strategy to their teams, and will achieve greater performance from them the more convincing they are in interpreting it .

•  There are also specialist strategists as well, in both private and public sectors. In house or consultant.

•  Strategy consulting has been a growth industry in the last decades.

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The origin of the word “strategy” ? Stratos à “Army” + Ageîn à “Leading”

–  Means the “Art of commanding the army to the fight” & “to coordinate the actions on a consistent manner”.

•  Polemology word !

•  In the 50’ it becomes a business word

–  1960 à SWOT model

–  1970 à Limited resources & crisis à Choice of sector (McKinsey, …)

–  1980 à Study of the competition à Michael Porter

–  1990 à Stop the strategic planning à agility + niche

–  2000 à New Economy

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Some great authors about “Strategy” : •  Sun Tzu

•  Xenophon

•  Machiavelli

•  Carl Von Clausewitz

•  Michael Porter

•  Henry Mintzberg 10

5

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3 great strategists in the ages ? Who are they ?

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What would be their position today ?

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Sun  Tzu  VP  Strategy  

Machiavelli  Consultant  in  Strategy  

Xenophon  CEO  

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Is strategy a science, an art or a daily experience ?

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Strategic  Management  ANALYSING    

Thinking  -­‐  Science  SEEING  

Insight  –  Art  ?  

DOING  CraG  -­‐  Experience  

Courtesy  of  Pr  Manuel  Hensmans  

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Science ? Risk à Paralysis by analysis ?

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Analysis  paralysis  or  paralysis  of  analysis  is  an  an<-­‐paXern,  the  

state  of  over-­‐analyzing  (or  over-­‐thinking)  a  situa<on  so  that  a  decision  or  ac<on  is  never  taken,  in  effect  

paralyzing  the  outcome.  A  decision  

can  be  treated  as  over-­‐complicated,  with  too  many  detailed  op<ons,  

so  that  a  choice  is  never  made,  rather  than  try  something  and  change  if  a  major  

problem  arises.    

Courtesy  of  Pr  Manuel  Hensmans  

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Doing ? Risk à Experience doesn’t lead to commitment

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Courtesy  of  Pr  Manuel  Hensmans  

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Seeing ? Risk à too many visions …

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Dangerous  Visions  from  Orion  Books  by  Vincent  Chong  Courtesy  of  Pr  Manuel  Hensmans  

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What is this course about ?

•  This course is mostly about … –  Science / analysis

•  Less about –  Art / Insights –  Craft / practical learning

•  You can increase your exposure to craft/insights –  By critically reading newspapers (HBR, MIT Business Review) –  By critically reading cases (HBR, …)

–  By doing internships (Strategy Company), going to seminars, ...

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Recommended readings

•  M. Porter, ‘What is strategy?’, Harvard Business Review, November–December 1996, pp. 61–78;

•  F. Fréry, ‘The fundamental dimensions of strategy’, MIT Sloan Management Review, vol. 48, no. 1 (2006), pp. 71–75.

•  “Can you say what you strategy is” by by David J. Collis and Michael G. Rukstad, , Harvard Business Review

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Books to acquire :

1.  Exploring Strategy 9th Edition

2.  B u s i n e s s M o d e l Generation

3.  The Strategist 114

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Other recommended books :

Key Strategy Tools : +80 tools for every manager to build a winning strategy Competitive Advantage : Creating and Sustaining Superior Performance Hardcover Competitive Strategy : Techniques for Analyzing Industries and Competitors Strategic Transformation : Changing While Winning Hardcover (Chapter 1, 7 & 8 in particular) by Manuel Hensmans + …

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Debate and thinking ? 1.  What have you learned in the Peanut Butter Manifesto ?

2.  What do you think about the last note of Brad considering the situation of Yahoo! today ?

3.  What could be now your personal definition of “Strategy” ?

4.  Which are the elements you could use to analyze the company you have chosen ?

5.  How would you present this company to explain its strategy ?

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Integrative Case (Strategy Analysis) At this stage …

1.  Do you perceive better the strategy of the chosen company ?

2.  Can you identify its competitive advantage(s) ?

3.  Can you identify some major trade-offs the chosen company has made ?

4.  Have you found their vision / mission / value … ? 117

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Relevant book section (9th Edition) ? •  Pages 1 to 24 •  Read Illustration 1.2 : Strategy Statements •  Take a look on Illustration 1.3 : Strategists •  Read and understand the 1.5 Section with the “Exploring Strategy

Model” as the whole course is based on this model •  Read carefully the Table 1.1 “The Strategy Check-List” as you will

have to use it to describe the strategy of the integrative case you have chosen

•  You don’t have to read the strategy lenses … But take a look on the summary

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Potential Exam questions (1) ? ü  Describe and explain the Corporate Strategy Model used in the book.

ü  Give your own definition of strategy in general and business strategy in particular ; justify why this specific definition. Describe in 2 or 3 sentences max the strategy of the company you have chosen for the integrative case (don’t forget to indicate the name of the company).

ü  Explain the reasons you have a strategy course.

ü  What can you say about the perception of the strategy by both the managers and the staff in most of businesses.

ü  What from your point of view is the essence of the strategy ? 119

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Potential Exam questions (2) ? ü  What is the “sweet spot” as explained in the HBR Article “Can you explain

what your strategy is ?” ? Can you explain what is the sweet spot of the company you have chosen for your integrative case ?

ü  When assessing the strategy of a company, how can you define the scope of a company ?

ü  Can you explain why “operational effectiveness” can not be called a “strategy” ?

ü  Explain your perception vis-à-vis the “sustainable competitive advantage” or “sustainable strategic position” Give an example using the integrative case you have chosen (don’t forget to indicate the name of the company).

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Potential Exam questions (3) ? ü  Explain why trade-offs are essentials to strategy ; list and briefly describe the types

of “trade-offs” a strategist has to make. Give an example of trade-offs using the integrative case you have chosen (don’t forget to indicate the name of the company).

ü  Explain the notion of “strategic fit”, list the 3 types of fit. Give an example of strategic fit using the integrative case you have chosen (don’t forget to indicate the name of the company).

ü  What does Sir Alex Ferguson means when he describes strategy as “... the purposeful creation of a favorable inequality in a landscape of changing conditions.” What could be such an “favorable inequality” for the company of the integrative case you have chosen (don’t forget to indicate the name of the company).

ü  What is the lifetime of a strategic decision and why a manager can’t change the strategy every year ?

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Potential Exam questions (4) ? ü  Describe in details what is the “deliberate strategy” and the choices

behind it ? ü  Describe and explain the difference between “deliberate strategy”

and “emergent strategy” and how ; explain the evolution of those last years ; what would you recommend to a manager nowadays ?

ü  Is strategy an art or a science ? ü  Which are the different levels of strategies in a company ? Give

examples using the integrative case you have chosen (don’t forget to indicate the name of the company)

ü  …

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Some videos to see for next session ? •  HBR – The secret origin of Corporate Strategy 9’42 :

https://www.youtube.com/watch?v=DQVf7984YDA

•  The 2 choices in Strategy 2’43 : https://hbr.org/2013/01/the-two-choices-to-make-in-str.html?cm_mmc=npv-_-YOUTUBE-_-VIDEO_LINK-_-012913

•  Michael Porter – Mistakes in strategy – 1’47 : http://www.youtube.com/watch?v=ibrxIP0H84M

•  Strategy in a downturn 13’07 : http://www.youtube.com/watch?v=mwc073nNl3Q&feature=player_detailpage

•  ¨The 5 components of a business strategy 5’54 : http://www.youtube.com/watch?v=BnNW5VViGJs

•  Levels of Strategy 2’05 : https://www.youtube.com/watch?v=uhfFoINNEKI&list=PLGRwBJuam6M2VL_0JyMDbsiXPEKefoO08&index=4

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Some interesting video channels for you ?

•  https://www.youtube.com/channel/UCWo4IA01TXzBeGJJKWHOG9g

•  https://www.youtube.com/user/stanfordbusiness

•  https://www.youtube.com/user/businessmodeltv

•  https://www.youtube.com/channel/UCc5cYNhQ8oYNdjmXBy7Z-ug

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Subscribe to some interesting newsletters @bout strategy ?

•  http://blogs.hbr.org

•  http://hbr.org/tip

•  http://sloanreview.mit.edu

•  http://www.strategy-business.com

•  http://www.mckinsey.com/insights

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Many thanks to : •  Pr Manuel HENSMANS (Toulouse Business School), Pr Cynthia

Montgomery (Harvard Business School) for the authorization to use some of their slides and some results of their research.

•  Ken Morse (MIT Sloan), Pr Alfredo HAX (MIT Sloan), Pr Bill AULET (MIT Sloan), Pr Raj GULATI (HBS) and Pr Marc BERTONECHE (HBS) for their inspiring sessions and debate.

•  Pr Olivier WITMEUR for his constant support and confidence.

•  My students for the motivating exchanges of ideas we have in class

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See you next session !

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