It is a unifying theme that gives
coherence and direction to the
actions and decisions of an
individual or an organization.
The Role of Strategy in
Success
Effective
implementation
Clear,
consistent,
long-term goals
Profund
understanding
of the
competitive
environment
Two examples of successful
strategy
Queen Elizabeth II has
combined the traditional
notions of being a figurehead
for the nation, a symbol of
British family and cultural life,
and an exemplar of service
and professional dedication.
Their ability to respond to events
with flexibility and clarity of
direction has been central to their
success by implementing
strategy. It can be observe a
consistency of direction based on
a clear understanding of desired
goals and a keen awareness of
how to maneuver into a position
of advantage.
Lady Gaga reflects a career
strategy that uses music as
her gateway, but she has
then built a celebrity status
by combining the generic
tools of star creation—shock
value, fashion leadership,
and media presence
Objective
appraisal of
resources
The Basic Framework for
Strategy Analysis
The task of business strategy is
to determine how the firm will
deploy its resources within its
environment and so satisfy its
long-term goals, and how it will
organize itself to implement
that strategy.
Strategic
Fit
refers to the consistency of a firm’s
strategy, first, with the firm’s
external environment and, second,
with its internal environment,
especially with its goals and values
and resources and capabilities.
is one component of a set of ideas
known as contingency theory, which
said that The best way to design,
manage, and lead an organization
depends upon circumstances
A brief
History
Many of the
principles of
military strategy
have been applied
to business
situations.
to give direction and
purpose, to deploy
resources in the most
effective manner, and
to coordinate the
decisions made by
different individuals.
The term strategy
derives from the
Greek word
strategia, meaning
“generalship.”
Strategy
Today
is the means by
which
individuals or
organizations
achieve their
objectives.
focused on achieving
certain goals; that it
involves allocating
resources; and that it
implies some
consistency,
integration, or
cohesiveness of
decisions and actions.
first, by enhancing the
quality of decision
making, second, by
facilitating
coordination, and,
third, by focusing
organizations on the
pursuit of long-term
goals
Strategy is a
pattern or theme
that gives
coherence to the
decisions of an
individual or
organization.
Strategy acts as a communication
device to promote coordination
Statements of strategy are a
means by which the CEO can
communicate the identity, goals,
and positioning of the company to
all organizational members.
A company’s strategy can be
found in three places: in the
heads of managers, in their
articulations of strategy in
speeches and written
documents, and in the
decisions through which
strategy is enacted.
Where to compete?
How to compete?
It’s about having well-trained, friendly people working in our
restaurants and the right products at a range of affordable
prices. It’s also about showcasing our restaurants as places
that are clean, contemporary and welcoming, as well as
creating promotions and marketing activities that resonate
with key customer groups.
How is made
strategy
Strategy may also emerge through
adaptation to circumstances and
being a product of insight, intuition,
experimentation, and events.
Mintzberg suggests only 10–30% of
intended strategy is realized being
the primary determinant of realized
strategy "emergent strategy" which
refers to the decisions that emerge
from the complex processes in which
individual managers interpret the
intended strategy and adapt to
changing circumstances.
The emergent approaches to strategy making
permit adaptation and learning through a
continuous interaction between strategy
formulation and strategy implementation in
which strategy is constantly being adjusted
and revised in the light of experience.
strategy making almost always involves a combination of
centrally driven rational design and decentralized
adaptation. The design aspect of strategy comprises a
number of organizational processes through which
strategy is deliberated, discussed, and decided
trategy making combines design
and emergence
The purpose of strategy analysis is not to
provide answers but to help us
understand the issues and identify,
classify and understand the principal
factors relevant to strategic decisions.
it can help increase our confidence and
effectiveness in understanding and responding
to new situations and new circumstances.