英国某商学院的EMBA课程讲座PPT-StrategicManagem

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1、Review: Session 1What is strategy? Making strategic choices is hard:Some quotes from annual reports“Our company has made a conscious choice to be the preferred employer and the leading competitor in its field”“Our objective is to maximize our market share while increasing our margins”“We will contin

2、ue covering the needs of a broad spectrum of customers, and strive to be the top choice in all the segments we serve” Summary: What have we learned todayn Strategy is an ongoing quest that is particular to each actor and context. There is no universal formula for success.n Each such quest involves:n

3、 Getting the toolsn Breaking the rules n Making a difference Strategy: Making difficult choicesn They are difficult because of:n The need to be internally consistent yet allow for flexibilityn Organizational inertian These are choices about:n Who is the customern What is the value propositionn How d

4、o we deliver itn These kinds of choices allow a company to gain and sustain a competitive advantagen Choices are about the journey to Ithaca - not Ithaca alone. n Experimentation may be necessary to arrive at robust choicesn Experimentation involves an ongoing negotiation among key constituenciesn S

5、trategy success is measured by more universal ex post measures (e.g. profitability) and more idiosyncratic ex ante metrics (e.g. employee morale). A key question is to identify the right measures. What are the difficult choices MCC is facing?n Service or carn What segment: corporate or leisuren Nort

6、h or southn Subcontract or integrate Is MCC Smarts strategy working?n Sales below expectationsn Sales comparable to other “similar” initiativesn Is helping achieve CAF objectivesn Is providing valuable data about a new segment therefore, worth the price “Get the tools, break the rules, make a differ

7、ence”: A conceptual map of the courseDefinition and Dynamics of Strategy1. What is strategy?2. How can you be sure you are asking the “right” strategy questions?3. How strategy develops: Context, Role-playing, Mental models, and MetaphorsStrategy Content4. Competitive Forces in an Industry 5. Indust

8、ry Evolution 6. Valuing Firm Resources 7. Capabilities for positioning Strategy in Action8. Implementing Strategy 9. Institutional strategy: Can strategy make a difference? Review: Session 2Problem Structuring “We need professional managers who can analyse a problem, put together a strategy and comm

9、unicate it to employees, shareholders and the financial community” Kouji Ohboshichairman NTT DoCoMoFinancial Times 2001 You cannot strategize if you dont askn the right questions!n If you get this right, you can:n Make sense in everyday lifen Make decisionsn Write good papers and reports n Learn fro

10、m a coursen Handle job interviews bettern Make strategy! The Pyramid Principle approachEach layer contains the necessary and sufficient conditions for the layer above Governing thought Synthesises the recommendation or finding in one statement Key line supportSupportFurther support Tradeoffs of a st

11、ructured approach:Benefitsn Rigorous thinkingn Experiment with multiple optionsn Logically coherent argument n Easy to communicate Downsiden In practice, it is hard to structure a problemn Is there room for intuition and creativity? Strategic Management, Session 3Developing strategy Why develop our

12、existing strategy further?n Sometimes, our strategy might not workn Even worse, we might not have a strategy and this makes us vulnerablen Or, we might have no intention of changing our strategy but a competitor just didn So, we often need to develop our strategy further. What are the obstacles in d

13、eveloping strategy?n Creativity n Mental modelsn Contextn Role-playingn Metaphors n Analysisn Sessions 4, 5, 6, and 7 The mechanics of strategy-makingGenerate as many ideasas possible about: Who to target What to offer How to do it Evaluate theseideas andchoose whatto doand what not to do Implementt

14、hese choicesand remainalert tochangesin contextAnalytical frameworksAsk: “Why” to question the organizationssacred cowsCreate a questioningcultureCreate variety in the thinking process usedin formal planningsessionsCreate processes tomake strategy-makingdemocratic and participativeConsultingAsk: “Wh

15、y not” to explore the validity of patterns, similarities, analogies, and metaphors Necessary ingredients for idea generation:Generate as many ideasas possible about: Who to target What to offer How to do itA context in which to play a role A motivation to look at the world differently Context Create

16、s BehaviourThe underlying structure of a systemThe underlying Organizational context of a company Creates the Behaviour in that systemDetermines the daily behaviours adopted by employees which can support or undermine the firms strategy The Organizational Context Supporting Strategy Culture Incentiv

17、esStructure PeopleStrategy McKinseys 7 Ss: Another way of describing organizational context Super-ordinateGoalsStructure StaffSkillsStrategy StyleSystems UGM: Still another way of describing context:FRAMES PROCESSES COMMITMENTSVALUES The Organizational Context at 3MCULTURE 3M has an informal norm th

18、at employees can use 15% of their time to develop projects of their own choosing Employees are encouraged to take the initiative and are empowered to make decisions Failure is accepted and the culture that pervades is “you have to kiss a lot of frogs to find one prince” The flat hierarchy makes peop

19、le feel that they are responsible for everything going on in their divisions INCENTIVES The company has established career ladders for scientists which are separate from those for managers Teams that introduce successful new products are rewarded through the Golden Step Program Successful new produc

20、ts can be spun off as separate divisions with their own profit and loss statements. The original product champion becomes divisional president 3M has set a formal goal of having 25% of sales come from new products. Managers are measured and rewarded according to this goal. STRUCTURE 3M utilises cros

21、s-functional teams to work on projects Each team is headed by a “product champion” who is responsible for building a team culture One of 3Ms top managers becomes a “management sponsor” to help the team secure resources and overcome bureaucratic obstacles Divisions within 3M are run as separate compa

22、nies Divisional VPs have the same responsibility as a CEO in many other companies Hierarchies within divisions are kept flat PEOPLE By virtue of its incentives and culture, 3M attracts top scientists and engineers The company is able to recruit and retain creative people with entrepreneurial mindset

23、 Because of its dual career ladder, top scientists can coexist with top managers without internal competitionStrategy Some of the many possible roles to playn Scout: “I bring little known information from the field”n E.g. Intels venture into microprocessorsn Rebel: “This is an idea I have tested wit

24、h a few other people”n E.g. Monsantos venture into biotechnologyn Resource acquirer: “This new initiative should really be part of our organisation” Motivations for idea generation in strategyn We have a problemn compared to our past performancen E.g. Vodafone market cap has tumbledn compared to our

25、 stated objectivesn because others like us did much better n E.g. IBM and Apple How do we find out what the problem is?n Metaphors and analogiesn E.g. Vodafone is like a utilityn Curious patternsn Other “telecom-related” companies have also stalled How do we find out what the solution is?n Understan

26、d limits of current way of looking at the world. Can you think of a word?_ ANY Can you think of a word?MANY Can you think of a word? MANY_ENY Antony and CleopatraAntony and Cleopatra are lying dead on the floor in an Egyptian villa. Nearby is a broken bowl. There are no marks on the bodies and they

27、were not poisoned. No person was in the villa when they died. How did they die? Exercisen Arm-wrestle for 30 seconds. The winner will be the one that manages to push his/her opponents hand down most times in the 30 seconds. Mental models or sacred cows are not necessarily bad.They simply act as the

28、filters through which information passes. As a result, they determine what we “hear” or “see” and so influence how we behave.Summary so far: What do you see? Strong Mental ModelsS Help us decide quickly (and act)S Make us think passivelyS Make us reject new information that does not fit what we alre

29、ady believe in 30 SECOND EXERCISEIf I count between 1 and 100, how many times will I find a number that has a 9 in it? So we need to learn to recognise our mental modelsn HOW? n By asking: “why” Adopt the attitude that no right answers last for ever The British created a civil-service job in 1803 ca

30、lling for a man to stand on the cliffs of Dover with a spyglass. He was supposed to ring a bell if he saw Napoleon coming. The job was abolished in 1945. How can knowledge of our mental models help us generate ideas?n We can now ask “why not”n You see things as they are and ask, Why? I dream things

31、as they never were and ask, Why not?“ -George Bernard Shaw n “If Vodafone is a utility, are there profitable utilities we can emulate?”n More broadly, “Is there another business model we can adopt?”n In general: n Use several metaphorsn Search for multiple cues and data: benchmarkn “Test” alternativ

32、e hypothesesn Segway is more than a “scooter”n Fords product is more than a “horse-less carriage”n An elephant is more than four “columns” and a “rope”n Syphillis is a particular form of “a venereal disease”n Environmental issues is more than “safety”, “product design”, “product quality”, “public re

33、lations”n Shock! Questioning mental models can enable us to develop an innovative business modelSome companies, like Lan & Spar bank in Denmark, take this process to heart. They question: WHO their customer really is WHAT their value added really is HOW they sell / distribute / produce / organize, e

34、tcSuch questioning MAY lead a company to identify a new WHO / WHAT / HOW position (i.e. to strategically innovate) An extra step for radical strategy change:n Who develops strategy?n Should you keep a new strategy secret? Making Strategy DemocraticIdeas come from: AnybodyAnywhereAnytime Ideas come f

35、rom: AnybodyAnywhereAnytimeButOur strategy process involves:- Top 20 managers- In a retreat- For 2 daysMaking Strategy Democratic Making strategy democratic:n Only idea generation phase innovation, not anarchyn Anyone, anywhere, anytime should be able to contributen Need to institutionalise the proc

36、ess of idea generation John Bachmann “I give my people the canvas, CEO, Edward Jones: the paints. What they paint is up to them” E. Leclerc “I tell my people that I want CEO, Leclerc them to be in city X Supermarkets, by Monday, 9.00am. France:How they get there is up to them” but how do we ensure t

37、hat all this does not lead to chaos? How to give autonomy without chaosn Provide the parameters within which your people are free to operate.n These parameters are:n The major strategic decisions that the organization has taken (Who / What / How) n The values of the organization Why do companies res

38、ist the democratisation process?n Fearn “Their contribution might be better than mine”n Arrogancen “Their contribution cannot be better than mine!”n Secrecy for competitive reasons n Democracy requires that contributors are knowledgeable about external conditions and internal strengths and weaknesse

39、s. This is information that a competitor would kill for. But Wal-Mart, IKEA, and the Open Law project at Harvard beg to differ.n Costn Collecting input involves a substantial logistical cost in terms of diverted employee attention, aggregating information, etc. Communication technologies can help in

40、 this regard. A traditional distinction: emergent vs. planned strategyn Impulsive vs. rationaln Exploration vs. exploitationn Radical vs. incrementaln Crafting vs. directingn Intuitive vs. calculating Developing strategy - Lessonsn Individuals need a context to express their creativityn Recognise co

41、nstraints & opportunities of a contextn Assume a role in a contextn To understand causes of behaviour you need to ask “why” to elicit the underlying beliefs that are held unquestioned by your colleagues in the company.n These beliefs concern the basic questions about “Who, What, and How”. They may p

42、rovide insight into a new business model and an additional source of competitive advantage. n Organizational processes such as the democratisation of the strategy-making process can help unleash this creative potential that resides within firms.n To identify possible solutions to problems you need to ask “why not” to elicit alternatives to current strategyn Explore a variety of metaphors to derive possible alternativesn Use different kinds of data n “Test” these alternatives using this data