CPA113 (Author: Laikwan)

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Segment map
Module 1
Business stategy and leadership
Module 2 Module 3 Analysis

External analysis Internal analysis
Module 4 Choice
Formulation of strategy
Module 5 Implementation
Implementation of strategy
Module 6
Leadership
Module 1 - An introduction to strategy and leadership

The origins and importance of strategy 1.03
Approches to strategy 1.05
The rational approach
The processual approach
Other perspectives on strategy
Leadership defined 1.11
The strategy process 1.12
Organisational purpose Understanding the organisation environment
Analysing strategic position
Formulation and implementation of strategy
Strategic thinking and analysis 1.16
Levels of strategy 1.18
Corporate strategy
Business strategy
Functional strategy
Strategic leadership 1.20
Approaches to leadership styles
Leadership skills in a changing workplace
The importance of strategic leadership
Leadership and ethics 1.26
The classical view of ethics
The socioeconomic view of ethics
The ethical responsibilities of leaders
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Module 2 - Framework for strategic analysis: Analysing the external environment

Analysing the external environment 2.03
Defining the industry 2.04
Remote environment analysis 2.06
Remote environment trends
Summarising the remote environment analysis
Industry analysis 2.14
Porter's five forces model for industry analysis
Drawing conclusions about industry profitability
Extending Porter's five forces analysis: Eight forces analysis
Understanding the industry life cycle 2.24
Industry anlaysis for the public sector 2.25
From industry to market analysis 2.28
Understanding competitiors: Competitor analysis
Competitive positioning: Strategic groups
Understanding customers
CPAs and external environment analysis 2.32
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Module 3 - Framework for strategic analysis: Analysing the internal environment

Identifying the existing business strategy: The five questions approach 3.03
The five questions (5Qs) approach to business strategy analysis
1. Does the organisation plan to grow?
2. What products and services does it plan to produce?
3. What customer and geographic markets does it plan to service?
4. What generic strategy does it plan to follow to position itself uniquely against competitors?
a do something different from competitors
b do something better than competitors do it
5. What position in the industry does it plan to hold in the future?
Clear and fuzzy(模糊不清的) strategy
So how can a business strategy be stated?
Key stakeholders and strategy 3.09
a What do key stakeholders want to get from their involvement?
b How consistent are key stakeholder attitudes and values with those of the organisation?
Identifying and analysing corporate strategy: The four questions approach 3.11
Corporate strategy and public sector organisations
1. Does the corporation want to grow?
2. What is the 'vision' of the corporation that holds the businesses together?
3. Are the businesses related to each other?
If so, what is the basis of this relatedness?
If not, why are the businesses held within the one corporation?
4. What position does the corporation plan to achieve in the future?
Other issues in developing business or corporate strategy 3.13
Values and strategy
Innovation and learning as keys to changing strategy over time
Actual strategy is different from planned strategy
Strategic capabilities
From static to dynamic capabilities 3.16
Identifying strategic capabilities
1. Is it valuable to customers?
2. Is it better than the capabilities of most competitiors?
3. Is it difficult to imitate or replicate?
Summary
Measuring the performance of strategic capabilities 3.21
Measuring organisational performance 3.23
The shareholder view
The shakeholder view
The new world: The triple bottom line approach to performance
Summary
Comparing performance measures 3.27
Standards of comparison
Getting the information
Assessing overall performance
Summary
CPAs and internal environment analysis 3.29
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Module 4 - Formulating a strategy

Gap analysis 4.03
External environment and the business strategy gaps
Internal environment and the business strategy gaps
Gap analysis at the corporation level
Business strategic options 4.10
Business strategy Question 1 : Growth options
Business strategy Question 2 and 3 : Product and market business options
Business strategy Question 4 : Generic strategy options
Business strategy Question 5 : Business position options
Corporate strategy formulation 4.22
Risk assessment 4.24
Consider a range of alternatives
Be conservative
Forecast the alternatives
Use up-front planning
Consider competitive reactions
Rumelt's criteria for evaluating stategy
Strategic decision-making 4.27
Rational decision-making
Why does decision-making vary from the 'rational' in practice?
Practical strategic decision-making 4.31
Leadership and strategy formulation 4.32
The role fo the CPA in formulating strategy 4.33
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Module 5 - Implementing Strategy

Srategy: From thinking it to doing it 5.04
Managing people and systems 5.07
Strategy and culture
Performance management
Reward systems
Linking budgets to strategy: The CPA role
Strategic information systems
Designing structure 5.16
Types of organisation structures
Organisaional design
The politics of strategy implementation 5.25
Politics: Power in action
The influence of organisational politics on the implementation process
Is political activity functional or dysfunctional?
Managing conflict
Resistance to the implementation process
Reviewing the implementation process 5.32
The role of leadership in implementing strategy 5.32
Module 6 - Leadership and the strategic process

The nature of strategic leadership 6.04
The importance of leadership
Organisational levels of leadership
Character and leadership
A hierarchy of leadership
Achieving strategic success 6.10
Transformational leadership 6.11
Key phases of transformational leadership
Impact of transformational leadership on individuals
The role of leaders in strategic thinking 6.15
Balancing stability and change
The role of leaders in strategic analysis 6.18
External analysis
Internal analysis
Performance measurement
The role of leaders in setting direction 6.22
Visionary leadership
The role of leaders in strategy formulation and selection 6.23
The role of leaders in implementing strategy 6.25
Communication
Communicating the vision and strategy
Overcoming resistance and cementing change in an organisation
Surfacing and dealing with resistance
Empowerment and developing future leaders
Followership
Leadership styles
Leadership and the CPA 6.34
Future challenges 6.35
The pace of change
Globalisation and the need for golbal leadership
Technology
Index by description 6/73
2 ways relationship - structure follows or influence by structure Palmer & Hardy 2002 5.22
3 technique to address resistance to change Hiebert & Klatt 2001 6.29
4 questions approach to corporate strategy analysis 3.11
5 forces model Porter 2.15
5 questions approach to business strategy analysis Hubbard 3.03
8 forces analysis 2.21
balance stability and change model Zakon and Lochridge 6.16
best-cost or value for money generic strategies 4.20
bottom up business planning 5.13
Business Level Thompson & Strickland 2002 5.19
business strategy analysis - 5 questions approach Hubbard 3.03
business strategy gaps - capabilities 4.06
business strategy gaps - industry environment 4.05
business strategy gaps - industry rivals 4.05
business strategy gaps - key stakeholder 4.08
business strategy gaps - organisational performance 4.08
business strategy gaps - remote environment 4.04
business strategy option 4.09
Centralisation versus decentralisation 5.23
Cluster organisation Quinn et al, in Mintzberg and Quinn 1996 5.21
Competitive advantages strategy Johnson & Scholes 2002 1.04
Competitor analysis 2.29
Competitve positioning 2.30
Corporate Level Thompson & Strickland 2002 5.18
corporate strategy analysis - 4 questions approach 3.11
criteria of rational decisions Harsanyi 4.27
Definition - capabilities Nelson & Winter 3.16
Definition - ethics Ferrell and Fraedrich 1.26
Definition - ethics Oxford Companion to Philosophy 1.26
Definition - ethics Shorter Oxford English dictionary 1.26
Definition - Implementation - Culture Schein 1985 5.07
Definition - industry 2.04
Definition - rational approach strategy Chandler 1.06
Definition - strategic leadership Kotter 6.04
Definition - strategic ledership Hanson 1.20
Definition - strategy Chandler R1.1
Definition - strategy DeBono R1.1
Definition - strategy Robert Burgelmann R1.1
Definition - strategy Von Clausewitz 1.03
distinct between leadership and management Bass 1.12
distinct between leadership and management Mullins 1.12
distinct between rational and processual approach Mintzberg 1.09
distinct between rational and processual approach Whittington 1.08
distinguishing between social responsibility and business eithics Ferrell and Fraedrich 1.27
Environmental analysis Hubbard, Samuels, Heap and Cocks 2.04
Evolutionary(進化的) approach Whittington 1.09
formalised gap analysis process Hubbard, Pocknee and Taylor 4.04
Functional Level Thompson & Strickland 2002 5.19
fuzzy strategy Hubbard 3.08
generic strategy Porter 4.15
growth of the industry Remote environment analysis 2.06
Hierarchy of leadership Jim Collins 2001 6.07
Hofstede - tool for diagnose national cultures Samson & Daft 2003 5.10
how to the detriment of where to - role of leaders in setting direction Nanus 1992 6.22
Implementation - actions to link the international success Thompson & Strickland 2002 5.12
Implementation - communication - technique to persuade people Williams and Miller 2002 6.27
Implementation - Culture Thompson & Strickland 5.08
Implementation - managing across cultures - global market Miller & Dess 1996 5.10
Implementation - performance management Johnson & Scholes 2002 5.12
Implementation - reasons for resistance to change Tichy and Devanna 1990 6.29
Implementation - reward Brown 1995 5.14
Implementation failure - HIH Haigh 2003 5.09
Implementation process - Culture - dynamics and issues Edgar Schein 1985 5.08
Implementation strategy - 7-S model McKinsey & Co 5.05/R5.1
Implementation strategy - 8 big managerial components Thompson & Strickland 5.06
Implementation successful - Cadbury Schweppes PLC Johnson & Scholes 2002 5.09
Implementation task 5.03
Innovation Kim and Mauborgne 3.14
Jan Carlzon, CEO of Scandinavian Airline System (SAS) -Vision Wood 1.11
leader strategy - both differentiation and low cost Hubbard, Pocknee and Taylor 4.19
Leadership skill Goldrick 1.22
Leadership skill Parry 1.22
leadership style -behavioural style Robbins 1.21
leadership style -traits (特徵) Thompson and McHugh 1.20
leadership styles 6.32
learning organisation's concept Senge 3.14
Level 5 leadership Collins and Porras 6.07
Managing interpersonal conflict Esisenhardt et al. 1997 5.29
Military nature of strategy language Thompson & Strickland 1.04
mirror and window concept - level 5 leadership Jim Collins 2001 6.08
organisataional purpose Thompson and Strickland 1.13
organisational configurations (結構)- mechanistic and organic Mintzberg & Quinn 1996 5.24
Organisational design - Definition Galbraith 1977 5.22
performance measurement 3.23
Politics - Power - Definition Perrow 1986 5.25
Processual approach strategy - pattern in a stream of decisions Mintzberg 1.07
profitability of the industry Industry analysis 2.14
Public sector analysis 2.25
Rational approach strategy Whittington 1.07
rational approach strategy - steps 1.06
Rational approach strategy can not satisfy because of 3 condition Mintzberg 1.07
rational decision-making model Davis & Devinney 4.27
Remote environmental anaysis 2.06
Role of leadership Katz and Kahn 1.11
Rumelt's criteria for evaluating stategy Rumelt 4.26
situational approach Blanchard, Zigarmi and Zigarmi 1985 6.31
social eithics Ferrell and Fraedrich 1.28
solution strategy Foote 4.14
strategic capabilities Chaney 3.18
strategic capabilities Christensen 3.18
strategic capabilities Marino 3.20
strategic capabilities - 4 element to success Hubbard 3.18
strategic capabilities - 5 major classes of activities Leonard 3.18
Strategic fit or stretch - leading edge of strategy Hamel and Prahalad 1.17
strategic leadership - 4 types Rothschild 1993 6.33
Strategic thinking Hardy and Plamer 1.16
strategy process 1.13
Structure - designing to success the strategy Thompson & Strickland 2002 5.16
Structures - 3 main components of all organisational Robbins & Barnwell 1998 5.17
Substitute for leadership Kerr & Jermier R1.1
successful strategic requirement - 8 key steps Kotter 1995 6.10
Systemic approach Johnson & Scholes 2002 1.10
The importance of strategic leadership Hall 1.24
The importance of strategic leadership Thompson and McHugh 1.24
Type of organisational structure 5.18
type of transformational leadership Dunphy and Stace 1993 6.11
Understanding customer 2.31
Understanding the organisation environment - 5 questions Thompson and Strickland 1.13
Value and strategy Collins and Porras 3.13
Value and strategy Hubbard 3.13
value disciplines as generic strategies Treacy and Wiersema 4.20
Vitality and broadening relevance of strategy Grant 1.05
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Index by module

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Index by module

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Index by module
Table 3
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
Australian pharmaceutical and toiletry wholesaling revenue ($ billion)
Ethical drugs 3.11 3.63 4.04 4.61 5.30 6.89 7.48 8.16 8.71 9.32
TPC products 2.07 2.04 2.00 1.96 2.09 2.20 2.22 2.24 2.21 2.16
OTC drugs 1.73 1.74 1.66 1.59 1.68 1.93 1.99 2.06 2.08 2.03
Total revenue 6.91 7.42 7.70 8.15 9.07 11.02 11.68 12.46 13.00 13.51
Growth rate %
Ethical drugs 17% 11% 14% 15% 30% 9% 9% 7% 7%
TPC products -2% -2% -2% 7% 6% 1% 1% -2% -2%
OTC drugs 1% -5% -4% 5% 15% 3% 4% 1% -3%
Total revenue 7% 4% 6% 11% 22% 6% 7% 4% 4%
Share of total industry revenue %

Ethical drugs 45% 49% 53% 56% 59% 63% 64% 66% 67% 69%
TPC products 30% 28% 26% 24% 23% 20% 19% 18% 17% 16%
OTC drugs 25% 24% 21% 19% 18% 17% 17% 16% 16% 15%
Total revenue 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Table 2: Australian pharmaceutical and toiletry wholesaling revenue per capita ($)
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
$ $ $ $ $ $ $ $ $ $
Ethical drugs 160 185 204 230 262 337 362 391 413 438
TPC products 107 104 101 98 103 108 107 108 105 102
OTC drugs 89 89 84 79 83 94 96 99 99 95
Total revenue 356 378 389 407 448 539 565 598 617 635
Table 2: Growth rate

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
$ $ $ $ $ $ $ $ $ $
Ethical drugs 15.63% 10.27% 12.75% 13.91% 28.63% 7.42% 8.01% 5.63% 6.05%
TPC products -2.80% -2.88% -2.97% 5.10% 4.85% -0.93% 0.93% -2.78% -2.86%
OTC drugs 0.00% -5.62% -5.95% 5.06% 13.25% 2.13% 3.13% 0.00% -4.04%
Total revenue 6.18% 2.91% 4.63% 10.07% 20.31% 4.82% 5.84% 3.18% 2.92%
Table H Australian pharmaceutical and toiletry wholesaling revenue ($ billion)
2000 2001 2002 2003 2004
$ $ $ $ $
PIA 2.800 2.975 3.150 3.300 3.463
Lane 2.950 3.050 3.150 3.250 3.051
Delta 2.500 2.650 2.775 2.875 2.965
Platinum - - - 0.120 0.622
Others 2.769 3.007 3.387 3.451 3.407
Total revenue 11.019 11.682 12.462 12.996 13.508
Australian pharmaceutical and toiletry wholesaling market share

PIA 25.41% 25.47% 25.28% 25.39% 25.64%
Lane 26.77% 26.11% 25.28% 25.01% 22.59%
Delta 22.69% 22.68% 22.27% 22.12% 21.95%
Platinum 0.00% 0.00% 0.00% 0.92% 4.60%
Others 25.13% 25.74% 27.18% 26.55% 25.22%
Total revenue 100.00% 100.00% 100.00% 100.00% 100.00%
Summary of performance
2000 $ 2001 $ 2002 $ 2003 $ 2004 $
Sales ($ billion) - Australian pharmaceutical and toiletry wholesaling industry only
PIA 2.800 2.975 3.150 3.300 3.463
Lane 2.950 3.050 3.150 3.250 3.051
Delta 2.500 2.650 2.775 2.875 2.965
Platinum - - - 0.120 0.622
Gross margin %
Industry average 17.3% 17.0% 12.7% 12.3% 12.2%
Key competitor average 15.3% 15.0% 10.7% 10.3% 10.2%
Platinum n/a n/a n/a 10.0% 10.0%
Profit before interest and tax %

Industry average 1.6% 1.4% 1.3% 1.1% 1.0%
Key competitor average 1.5% 1.3% 1.2% 1.0% 0.9%
Platinum n/a n/a n/a 1.7% 1.7%
Table 6
Industry profitability - Australian pharmaceutical and toiletry wholesaling
2000 2001 2002 2003 2004
Gross margin % 17.0% 12.7% 12.5% 12.3% 12.2%
Change in GP % -25.3% -1.6% -1.6% -0.8%
Profit before interest and tax % 1.6% 1.4% 1.3% 1.1% 1.0%
Profit before interest and tax % growth -12.5% -7.1% -15.4% -9.1%
Table 7
2000 2001 2002 2003 2004
Australian pharmaceutical and toiletry wholesaling revenue ($ billion)
Ethical drugs 6.89 7.48 8.16 8.71 9.32
TPC products 2.20 2.22 2.24 2.21 2.16
OTC drugs 1.93 1.99 2.06 2.08 2.03
Total revenue 11.02 11.68 12.46 13.00 13.51
Average gross margins
Ethical drugs 15.0% 10.0% 10.0% 10.0% 10.0%
TPC products 25.0% 24.0% 24.0% 23.5% 23.5%
OTC drugs 15.0% 10.0% 10.0% 10.0% 10.0%
Total revenue 17.0% 12.7% 12.5% 12.3% 12.2%
Gross margin ($ billion)
Ethical drugs 1.03 0.75 0.82 0.87 0.93
TPC products 0.55 0.53 0.54 0.52 0.51
OTC drugs 0.29 0.20 0.21 0.21 0.20
Total gross profit 1.87 1.48 1.56 1.60 1.64
Ratio of total gross margin
Ethical drugs 55% 51% 52% 54% 57%
TPC products 29% 36% 35% 32% 31%
OTC drugs 15% 13% 13% 13% 12%
Total gross profit 100% 100% 100% 100% 100%
Wholesalers to
ManufacturersWholesalers Retailer Hospitals Online
Pharmaceutical
- Ethical 8.47 9.32 7.81 1.5 0.01
- OTC 1.84 2.03 2.01 0.02
Others
- TPC 1.96 2.16 2.09 0.08
Total 12.28 13.51 11.9 1.5 0.11 13.51
@ Retail price 14.88 1.73 0.15 16.75
% on retail price 73.3% 7.3% 18% 1% 0% 100%
Market segmentation
- Ethical 83.8% 16.1% 0.1%
- OTC 99.0% 1.0%
- TPC 96.5% 3.5%
8696175.xlsQuestion 19/73
What military principles are evident in the language used to describe and communicate
this strategy?
- increasing market penetration
Military principles
- pursuing growth aggressively
- competing in the war for talent
- out-competing rivals
How prevalent(流行) are the ideas and practices of strategy in your organisation
Ideas and practices of
- vision Q1.1
strategy
- mission
comparation between Consider the rational and processual approaches in the context of the company's
rational and strategy. Is one or other of these approaches more relevant in helping you explain and Q1.2
processual evaluate the strategy and its effects?
comparation between Think of someone you would define as a leader and someone you would define as a
leadership and manager. Describe their skills, attributes and behaviours to justify this distinction. Q1.3
manager - powers of influence and persuasion(說服力)
Identify and describe the strategy process in the organisation. To what extent is the
strategy process process set out above used in this organisation, and to what extent and in which ways Q1.4
does it differ?
Draw on your own experience or observation of management to describe an example of
Strategic fit and strategic stretch or thinking, and an example of strategic planning or analysis. What are
Q1.5
stretch the distinguishing aspects that define these examples as stretch on the one hand and
planning on the other?
How does the organistion's functional-level strategy for the finance or marketing area
level of strategy contribute to its business level strategy? To what extent is this department's strategy Q1.6
consistent with the business level strategy and, if relevant, corporate level strategy?
Think of an effective and an ineffective leader in the organisaion. Describe the traits and
leadership behaviours of these two leaders and to what extent they explain how well they perform Q1.7
in their roles
To what extent do you agree with the statemetn that leaders are born and cannot be
leader trained? Draw on your experiences of leaders (whether yourself or others) to justify Q1.8
your position
How important do you think leadership is to organisational success? When might
leadership Q1.9
leadership be less relevant?
What do the story Reading 1.1 say about strategy and leadership. In your reflection,
strategy and Reading
consider the rational, processual, evolutionary and systemic approaches to strategy
leadership 1.1
described above
Describe the organisation in which you work in terms of its position on the profit-social
responsibility continuum. Assess your own position on the continuum. What is the
social responsibility Q1.10
match between your position and that of the organisation, and what are the implications
of any mismatch for you, and for the organisation?
Defining the industry.
- geographic element - such as Singapore
defining the industry Q2.1
- product or service element - such as financial services or fast food manufacturing
- broad or narrow
For each of the elements of the remote environment, complet the following analysis for
the organisation's industry:
* What are the major issues which you think are important in influencing the future
growth of the industry
* For each issue consider : How is it important? What evidence is there to support your
remote environment Q2.2
view? Is it likely to lead to high or low growth for the industry
* For all the issues together, is the industry likely to be a high, average or low growth
industry in the future
* What other outcomes do you forsee from the analysis
* What are the implications for an organisation in this industry
Consider the industry in which the origanisation competes, undertake a five forces
analysis. Based on theis analysis:
* Is the industyr expected to be above average, below average or average in its future
analysing the profitability?
Q2.3
industry * What are the key driving forces of that future profitability?
* What external evidence is there to support your analysis conclusions?
Consider the industry in which the origanisation competes, undertake a five forces
analysis. Based on theis analysis: 8696175.xlsQuestion 20/73
* Is the industyr expected to be above average, below average or average in its future
analysing the profitability?
Q2.3
industry * What are the key driving forces of that future profitability?
* What external evidence is there to support your analysis conclusions?
* What gaps did you discover in your understanding of the industry?
* What are the implications for the future of organisations in this industry?
Consider the industyr of the organisation

* What are the major issues or events in the last 10 years that have influenced the
development of the industry
What have been the effects on the industyr of ech of these changes? Specifically, what
impact of industry
have been the effects on profitability?
history and the role Q2.4
* Of these major issues, which ones have been due to government decisions? Why has
of government
the government been involved in the industry in the past? What has been the effect of
this involvement?
* Given this history, what do you expect will be the key events in the next few years
that might affect the industry profitability?
Using the eight forces analysis and the facts illustrated in Part A of the case study in
Module 7, you may wish to assess the industry profitability of Chasseur Chickens. Read
8 forces the case study facts and consider the key issues that will affect future industry
profitability and their likely impact. You should also consider the industry value chain
of the industry in which Chasseur Chickens operates.
Consider the organisation's industry
* Which stage of the industry life cycle best represents your industry?
industry life cycle * Has that stage changed over time (last 10 years)? Q2.5
* Is your organisation's behaviour attuned(理解) to the appropriate stage? Why/ why
not?
Consider a public sector organisation that has an apparent monopoly on an area, product
or service:
* What are the main influence groups on the organisation?
public sector industry
* Why do these groups each have power? How much power do they have? Q2.6
analysis
* How might that power be affected in the future?
* As a result of the above, how much change is likely to occur within the organisation
in the future?
Considering an industry with which you are familiar:

* Who are th main competitors in the industy?
* To what extent do they appear to fit into strategic group as described?
competitor analysis - competing in the same geographical space Q2.7
- competing in others such as quality, features or similar ranges of products
* What are the key bases for competition, based on what distinguishes the strategic
groups from each other?
Apply the worksheet in Table 2.4 to customers in an industry with which you are
familiar:
* What segments the customers into different types?
understanding
- volume of purchase, industrial / domestic consumer, geographical location Q2.8
customers
* What do they primary use the industry, product, or service for ?
* What are the key elements used to determine buying? (Hint - be careful not to simply
assume that 'price' is the key reason for purchase.)
Which of the terms listed above does your organisation use to identify its business
strataegy
strategy? Q3.1
terminology(術語)
If your organisation uses more than one term how do the terms relate to each other?
What are the 5Qs of business strategy for your organisation?

5 question of Can you find the answers to them?
Q3.2
business strategy Where did you find the answers?
If you can't find the answers, why do you think that might be so?
Returning to the answers to the 5Qs of your organisation in Q3.2 above
* How 'fuzzy' were the answers to each question?
*Did you, or others in the organisation, feel clear about each qanswer, or was there
fuzzy strategy Q3.3
confusion or disagreement?
* How important was such disagreement?
*Could this disagreement be resolved?
stated business Refer to the facts of Part A of the case study and apply the 5Qs approach to Chasseur
strategy of the Chickens Pty Ltd. What is the stated business strategy of the company? Are they in fact 3.09
company pursuing that strategy?
Identifying key stakeholders

* Who are the key stakeholders in your organisation?
* What do they seek to receive from the organisation?
- reaching sales levels to achieve bonus
stakeholders - ability to network with other CEOs' Q3.4
- prestige
* How well is the organisation delivering against their expectations?
* Is there any evidence of strategy change due to pressure exerted by key stakeholders?
What does this show?
Who are Chasseur's key stakeholders, what are their objectives, are their objectives
stakeholders aligned to Chasseur's strategic goals? Apart from the obvious stakeholders, you should Q3.4
also consider Chasseur's employees and the government
Compare what your organisation is actually doing with the 5Qs of strategy which you
anlaysed earlier in Q3.2:
comparing planned
* To what extent are they the same? Why? Q3.5
and actual strategy
* To what extnet are they different? Why?
* How has the process developed over time?
Assessing strategic capabilities

* What do you beliveve are the strategic capabilities in your organisation? Ensure that
anything you include meets the three tests in the text.
strategic capabilities * Are the strategic acapabilities you have identified static or dynamic? Q3.6
- Is it valuable to customers?
- Is it better than the capabilities of most competitors?
- Is it difficult to imitate or replicate?
Consider your own organisation and the information available to you:
* Measure the financial performance of the organisation over the last 3 years
* Also measure the customer/market performance, internal efficiency and long-term
measuring and
growth and development
assessing
* Assess each of these areas separately - how well has the organisation been doing over Q3.7
organisational
these 3 years?
performance
* What difficulties did you have in measuring performance? Why?
* What difficulties did you have in assessing performance? Why?
*
Is the business strategy of Chasseur Chickens consistent with various industry
industry environment 4.05
environment elements?
industry rivals -
Based on the framework provided in figure 4.5 p4.06 assess the performance of
business strategy 4.06
Chasseur Chickens relative to its competitors in the industry
gaps
Remote enviornment - business strategy
Industry environment - business strategy
Industry rivals - business strategy
Cap Analysis Q4.1
Business strategy - capability
Business strategy - performance
Business strategy - key stakeholders
* Which growth options seem most attractive looking forward?
Growth options Q4.2
* Which ones seem unattractive?
Product and market * Which product and market options seem most attractive looking forward?
Q4.3
options * Which seem unattractive?
Generic strategy * Which generic strategy options seem most attractive looking forward?
Q4.4
options * Which options seem unattractive?
Industry position * What are the most attractive looking forward?
Q4.5
options * What seem unattractive?
* Why did the decision turn out that way?
* Should it have turned out that way?
Descision-making
* What might have been done to achieve a better decision? Q4.6
processes
* Would someone else in your organisation present the same view of this decision?
Why/why not?
planning and
Notting Foods acquired chasseur Chickens Pty Ltd - the scenario involves the planning
implemetation of
and implementation of their strategy
strategy
Base on the 7-S framwork and the eight big managerial components of implementing
strategy described , do you think Notting Foods Australia took into account all the
implementing
important factors in implementing their strategic plan? 5.07
strategy
7-S - structure, strategy, system, style, staff, skill, share value
8 big managerial component - figure 5.3 ( P5.6 )
To determin the culture of Chasseur Chickens and Notting Foods. How did the
leadership of Notting Foods manage the culture of the new entity during the
implementing implementation of its strategy? Was the culture of the new entity, Notting Foods, far
Q5.01
strategy removed from its parent organisation Chasseur Chickens?
- how and why culture changes
- impact of change in the business environment of organisation's stategy and culture
cultural differences
between home Do you perceive that any of the factors from Hafstede's framework are likely to become
5.11
country and issues for the new entity, Notting Foods?
operation country
Do you think the reward system of 'pay at risk' in Notting Foods reflects the culture
pay at risk 5.14
orientation of the organisation?
organisational Consider the key issue in relation to organisational structure that will affect the success
5.22
structure or otherwise of Notting Foods Inc.'s acquisition of Chasseur Chickens
What changes to the structure would you suggest in respect of any hindrances(障礙)
that you may have identified?
structure - two-way relationship between these variables Q5.02
* structure follows
* determined by strategy
Consider the role politics plays in Chasseur and what influence this has on the success
politics Q5.03
of its strategy?
Consider the causes of resistane that exist in relation to the integration of Chasseur by
resistance Q5.04
Notting. How migh these have been overcome?
Which of the roles and activities described in this module are evident in this
implementation, and are there other activities that are being employed? Evaluate how Q5.05
effective these activities are in executing the strategy
Consequence of
chaning and
List and describe the consequences of changing and flattening organisational structures.
flattening Q6.01
What are the possible negative impacts on leadership?
organisational
structure
Hierarchy of
5 level leadership Q6.02
leadership
Personal
characteristics Level 5 leadership Q6.03
inventory
Leadership behaviour Level 5 leadership Q6.04
The need to create and communicate a vision is heavily debated. Discuss why you agree
Vision Q6.05
or disagree that 'vision' is a necessary component for strategic success
Consider why a leader would prefer that thins fall apart after they have ledt the
organisation, in order to be perceived as great. Apply your understanding of this Q6.06
problem to training new employees
role of leaders Summarise the role of leaders durign the strategic analysis stages Q6.09
7S 7S- structure, system, strategy, staff, skill, style, shared value Q6.10
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Module 1 - An introduction to strategy and leadership - 10%
=> Strategy is to create some added value plannting to the organisation and to position it for success
in the future
=> The concept of leadership is then explained from a strategy perspective, and the strategic
management process is outlined in realtion to the positioning of an organisation in its marketplace
and external environment
The origins and importance of strategy 1.03

=> from Greek word " strategos" - has military(軍事的) origins
=> Military nature of strategy language
-> increasing market penetration(滲透)
-> pursuing growth aggressively
-> competing in the war for talent(天資)
-> out-competing rivals(對手)
=> importance of strategy because of the condition
-> changes in the nature of ownership
- owner separated from running of large corporation
-> changing market conditions
- growth of multinational corporation
-> new organisational structures
- because of global and technological. Decentralised
Approches to strategy 1.05

=> The rational approach
-> characterise - linear(直線的) and mechanistic(機械作用的) model
-> conception and execution - discrete(抽象的), sequential(連續的) activities
-> Steps
- establishment of clear strategic objectives
- analysis of an organisation's strategic situation
- strategic options are generated
- implementation of the chosen strategic option
-> example - Michael Porter's five forces model
-> emphasises the role of leaders and managers in creating and driving strategy and change
-> external focus
-> the managers are in control
-> rational control and systematic analysis
=> The processual approach
-> defines organisations as political arenas, in which individuals with shared interests and
goals form into coalitions
-> occurred in an incremental(增值的), inconsistent(不協調的) and ad hoc(特別的) manner
-> internal focus
-> processual approach qualifies that the control is limited and constrained
-> distinct between rational approach - the view of formulation and implementation is
inextricably(逃不掉地) entangled(被纏住的)
-> creativity, adaptation(改寫) and intuition(直覺)
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=> Other perspectives on strategy

-> Evolutionary 進化 1.09
- further than the processual approach
- environment will select organisaitons for either success or failure
-> Systemic
- related to the processual approach
- builds on the importance of culture and politics
-> Fuzzy strategy(模糊不清)
=> Summary of rational and processual approaches 1.10
Strategic dimensions Rational Processual
action - occurred in an
plan - linear and mechanistic incremental(增值的),
characteris
model inconsistent(不協調的) and ad
hoc(特別的) manner
Economics, military(軍用的) Political science, social
Contributing disciplines
principles psychology
Explicit(清楚) and deliberate( Implicit(不明確) and
Strategy concept
談論) emergent(突現的)
A singular (managerial) reality, Multiple coalitions(聯合),
Organisation
unified(一致), coherent political
Environment Knowable and definable Imperfect, vague(含糊), complex
Entangled(纏繞), pattern in a
Separate, sequential, linear, top-
Strategy process stream of actions, top-down,
down
bottom-up
Fragmented(不完整),
Nature of strategic Planned, orderly, analytical,
incremental, ad hoc, intuitive,
change external focus cause-effect
internal focus, imperfect
Formulated by top managers, Lower-level managers and
Change strategists
implemented by employees employees more involved
Goals of strategic Satisfice, accommodate(容納)
Optimise performance
change various stakeholders
strategy as incremental and ad-
provides a mechanical appraoch hoc, a view developed from
that separate conception and observing straategy in action.
execution, moves from Strategies emerge, rather than
Role of leadership
objective-setting to analysis and being planned logically and
on to developing, selecting and sequentially, with formulation
finally implementing options and implementation seen as
closely integrated process
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Leadership defined 1.11

=> develop a strategic vision for the future of the organisation
=> motive people to share in this vision in order to make it a reality
=> distinction between leadership and management
-> Bass
- leadership implies followship whereas management implies subordinateship
-> Mullins
- leadership process of incluence and persuasion(說服) and not just the exercise of power
and authority
-> Kaatz and Kahn
- leadership entail both power and influence - power to change people's behaviour and
influience to change their perference.
The strategy process 1.12

=> Organisational purpose
-> developing and communicating a compelling(令人信服的) mission and strategic vision,
leaders can infuse an organisation's members with a sense of purpose and a persuasive(有
說服力的) rationale for the company's future direction
=> Understanding the organisation environment 1.13
-> Thompson and Strickland
- 5 key questions to ask for understanding the organisation environment
- What are the industry's dominant characteristics
- How strong are the competitive forces shaping the industry?
- What is causing change in the industry?
- Who are the industry leaders?
- What critical factors will determine future success in the industry?
=> Analysing strategic position
-> SWOT analysis
=> Formulation and implementation of strategy 1.15
-> Value creation
Strategic thinking and analysis 1.16

=> Strategic thinking - creativity rather than formal planning
=> both concepts of creativity and planning need to be operationalised in tandem(申聯式) with each other
=> balance between creativity and planning to reduce the risk of chaos(混亂)
=> Strategic fit and stretch - figure 1.3

=> Corporate strategy
-> establish a diversified portfolio of business
-> boost(推動) the combined performance of the businesses and improve competitive position
-> capture(奪得) and use the synergy(共同作用) among the businesses to improve
competitive advantage
-> effectively allocate corporate resources, prioritising growth businesses within the portfolio
=> Business strategy
=> Functional strategy
-> level of department or functional activity within business
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Strategic leadership 1.20

=> Approaches to leadership styles
-> Traits (特徵)
- leader are born
- psychological(心理學的) characteristics - consistent behaviours or actions that describe
a leader's style
-> Behavioural styles
- leader can be trained
- 2 common behavioural styles
- employee orientation and
- task orientation
-> Situational approaches
- consider contingent factors
-> Transformational(改變) and transctional(人際關係的) approaches
- leader provide individualised(具有個人特色的) consideration, intellectual(高智力的)
stimulation(激勵) and possess charisma(非凡的領導力/魅力)
=> Leadership skills in a changing workplace 1.22
-> Parry
- the profile of a leader
- is developed rather that trained
- is continuously learning
- is oriented toward developing a team of leaders rather than a group of follwers
- has a desire to be changed personally as well as to make change
- will be part of a team as much as its leader
- can communicate in all directions and be collaborative(合作的/協作的)
- will be both transformational and transactional
-> Goldrick
- new skill requireed of leaders - fostered in an environment of trust
- open communication
- consistency
- feedback
=> The importance of strategic leadership ? 1.23
-> strong leadership is required for organisations to survive and adapt in competitive and
turbulent(動蕩的) environments
-> structural factors and constraints (organisation and environment) act as significant
determinants of leadership
-> leadership can be viewed as being a captive(受控者) of the organisation, with their
substantive decisions limited to its norms, policies and practices
-> key leadership variables are task and people
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Leadership and ethics 1.26

=> The classical view of ethics
-> Milton Friedman
- primary obligation of managers is to provide a return on investment to the owners
- social responsibility and morality has no place in the job description of leaders and
managers
=> The socioeconomic view of ethics
- responsibility goes beyond the profit imperative to include protecting and improving
society's welfare
- leader should ensure their organisation complies not only with the law but also with
morality of society
=> The ethical responsibilities of leaders 1.29

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Module 2 - Framework for strategic analysis: Analysisng the external environment - 14%
Analysing the external environment 2.03

=> whether the industry is expected
-> to grow in the future or not - and the causes of that expected growth
-> future profitability - and causes of that profitability
=> Three reasons for difficult part of strategic analysis
1. Breadth(廣泛性) of the anlaysis required
2. uncertain and ambiguous(含糊不清的) signals provided by the environment, thus making
interpretation difficult
3. aspect which the organisation cannot control
Defining the industry 2.04

=> industry define as a group of organisations or business units producing close substitutes
=> 2 definition of industry
1. narrow - easy to analysis but more likely to miss the new trend
2. wide - difficult to analysis but minimise the risk of missing new trend
=> The important issue is to be consistent(始終如一的) throughout the analysis
=> 2 categories environment
1. remote environment - (outsider-industry) with general influences
2. industry environment
Case - Module 7 Part A - Chickens Pty Ltd
External environment
Define industry
Industry environment:
- new entrants
- suppliers
Remote environment - buyers
- economic - substitutes
- political - industry rivalry
- technological - history
- legal - government
- socio/cultural - buyers' buyers
- demographic - suppliers' suppliers
- sustainability - life cycle
- markets
- competitors
- strategic groups
- customers
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Remote environment analysis 2.06

- What are the major tends affecting the growth of the industry in the future?
- Will this industry grow faster or slower than average industry growth rates?
- How far into the future should we look?
- It should be consistent. Usually around 3 years, some are 10-12 years such as
education, biotech, pharmaceutical products. Anyway should be long term
- What is average growth?
- most industry grows is a combination of
- population growth
- price inflation
=> expected future rate of growth is important in indicating the size of the future opportunity that exists
in the industry
-> fast - provides opportunities for many organisations to do well
-> negative growth - only occur for one organisation at the expense of another
=> conducted at the industry level, not at the organisation level
=> Remote environment trends
-> economic
which affect an industry that include changes in gross domestic product (GDP), inflation rates,
unemployment levels, interest rates, exchange rates, taxation rates and wage rates
-> political
-> technological
changing technologies can make existing companies in an industry obsolete(淘汰的) if they
do not adapt in time
-> legal
-> socio/cultural
-> demographic(人口統計學的)
most industry growth is a combination of population growth and price inflation
-> sustainaility(能保持在一定水平的)
=> Summarising the remote environment analysis
-> significant (+) or (-) will impact on the growth of the industry
-> all the major factors are (+), expected to grow faster than average
Industry analysis 2.14

- What are the factors within the industry which determine the profitability of the industry?
- Based on these forces, what is the current and expected future profitability of the industry?
- How are the forces changing, and how are they expected to change over time?
=> Porter's five forces model for industry analysis

=> Industry profitability will be high if five force are low
-> threat of new entrants
- Entry barriers
- economies of scale
- product differentiation
- capital requirements
- switching costs
- access to distribution channesl
- government policy
-> power of suppliers
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- dominated by few co. but sell to many customers

- product or service is unique
- switching costs are high
- substitutes not readily
- suppliers are able to forward integrate
- purchasing industry only buy a small % of supplier's output
-> power of buyers 2.18
- buyer purchase a large proportion of the seller's product
- buyer has potential to backward integrate
- many alternative suppliers
- few costs of changing suppliers
- product or service is a high % of the buyer's cost
- product or service is easily substituted
-> power of substitutes
- the more substitutes the buyers have, the higher the buyer bargaining power
- direct or substitute which fulfils the same need for the buyer
-> intensity of industry rivalry 2.19
- number of competitors
- rate of industry growth
- amount of fixed costs
- capacity
- exit barriers
1. New Entrants 2. Buyers

r
Entry Barriers uye Determinates of Buyer
fB
ero
Economies of scale Pow Power
g
Product differentiation a inin buy large volume
Barg
potential to backward
Capital requirements
integrate
many alternative
Switching costs
suppliers
Access to distribution 5. Industry few swithching costs
Government policy Competitors high % of buyer's cots
Rivalry seasily substitute
Threat
of New Determinants
Entran
ts
Industry growth % 3. Suppliers
Determinants of Supplier Power
No. of competitiors
Differentiation of inputs
Switching costs of suppliers
tes Amount of fixed cost
titu and firms in the industry
of Subs
Threat
Presence of substitute inputs
Capacity
4. Substitutes Supplier concentration
Determinants of Exit barriers Importance of volume to supplier
Substitution Threat Cost relative to total purchases in the
Relative price industry
performance Su
pp Impact of inputs on cost or
of substitutes lie
r differentiation
Switching costs Threat of forward integration
Buyer propensity(習慣) relative to threat of
to substitute backward integration by
firms in the industry
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Module 2 - Framework for strategic analysis: Analysisngrelative to threat
the external of
environment - 14%
backward integration by
industry rivalry's element firms in the industry
=> Drawing conclusions about industry profitability 2.20

- 5 forces are rated high, industry profitability should be very low
- 5 forces are rated low, industry profitability should be very high
- desirable level on industry profitability as being a combination of
- return covering the risk-free real return for the country in which operations exist (0-5%)+
- return for expected inflation(2-5%) +
- return for the risk involved in the industry(2-8)
=> Extending Porter's five forces analysis: Eight forces analysis 2.21
- the role of government
- buyers' buyers
- suppliers' suppliers
New
Government
entrants
Supplier's Industry Buyers'

Suppliers Buyers
supplier rivalry buyers
Substitutes
Understanding the industry life cycle 2.24
Single Functional Financial Marketing Strategic Strategic

manager delegation orientation orientation management management
Managemen Managemen Managemen Managemen Industry Organisationa

t by t by conflict t by t by ROI, anlaysis, l renewal
Organisation size
intuition hope financial marketing competitive

( 直覺 ) planning advantage
vision budgets
ISSUE: ISSUE: ISSUE: ISSUE: ISSUE: ISSUE:
How to How to How to How to How to How to
make it grow control mange manage avoid
happen markets, industry decline
assets position
Time
Start-up Growth Control Maturity Shakeout Decline

1 2 3 4 5 6
Industry life cycle

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Industry anlaysis for the public sector 2.25

=> 5 forces
-> have supplier
-> no industry rivalry
-> little or no chance of new entrants or substitutes
-> buyer have not choice
=> attempt to influence government policies by lobby group
=> Questions to understanding where the key influences are coming from
-> How does this influence group affect our organisation?
-> Why do they affect our organisation (e.g. legal obligations, lobby group (on behalf of
whom?), desire of key individuals in the influence group)?
-> How powerful is this influence group? What gives them this power?
-> What factors might affect that power in the future?
From industry to market analysis 2.28

Market defined as a group of consumers with similar needs
=> Understanding competitiors: Competitor analysis
Effective strategic analysis not only of the position of your own organisation, but also of each of
your key competitors.
-> What is its business strategy?
-> Who are its key stakeholdes?
-> What is their commitment to the organisation
-> What are their values?
-> What is its current position in terms of market share, financial performance, operating
efficiency and long-term growth and development?
-> What is its satifiaction with its current industry position?
-> What plans does it have to change either the scope or nature of its operations?
-> What is its operating position in terms of its current volume compared with its maximum
capacity, its breadth of product range and its relative cost structure?
-> What are its capabilities?
-> What gaps exist between its current strategy and its actual capabilities and performance?
-> What assumptions does it hold about the industry and about itself?
=> Competitive positioning: Strategic groups 2.30
-> similar strategy in a similar product- market classification become a strategic groups
=> Understanding customers
-> Who are the key customers or customer types?
-> What they use the product for?
-> What its key benefits and buying features are to them?
CPAs and external environment analysis 2.32

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- 14%
Identifying the existing business strategy: The five questions approach 3.03
=> The five questions (5Qs) approach to business strategy analysis
1. Does the organisation plan to grow?
-> large organisation plant to grow because of the key stakeholders' expectation
-> government not seek growth - such as police force, unemployment department
-> family company limit growth to maintain personal control
-> growth too far will concern with consolidating or downsizing in near future
-> 2 kinds measurement of growth
- sales growth
- profitable growth
2. What products and services does it plan to produce?
3. What customer and geographic markets does it plan to service?
4. What generic strategy does it plan to follow to position itself uniquely against competitors?
a do something different from competitors
b do something better than competitors do it
-> Porter - generic strategy 3.06
- differentiation
- low cost
- focus
5. What desired(渴望) position in the industry does it plan to hold in the future?
=> Clear and fuzzy(模糊不清的) strategy 3.07
-> winning organisations have a clear and fuzzy strategy
-> good reasons for fuzzy strategy
- actively seeking incremental opportunities for growth
- incremental opportunities arise that require organisations to adapt their strategies
-> fuzziness should be at the edges, not at the centre of strategy
=> So how can a business strategy be stated?
Key stakeholders and strategy 3.09

=> The business strategy come from the stakeholders.
=> Which individual or group can influence the organisation's business stretegy?
=> What do key stakeholders want to get from their involvement?
- Key stakeholders and their expectations:
short-term profits, prestige(聲望), growth, personal power over a
CEO
large empire
Dominant shareholder dividends, consistent, reliable growth, no surprises
favourable buying terms, personal relationship, early information
Key customer
about new products, personal incentives
Local government jobs, tax revenue
innovative and supportive environment, freedom to carry out own
R & D manager
initiatives
=> How consistent are key stakeholder attitudes and values with those of the organisation?
- consistent - reached between the key stakeholder and the organisation over strategic issues
- inconsistent - conflict between the key stakeholder and the organisation over strategic issues
=> change in key stakeholders may also herald(預示...的來臨) significant future changes in
expectations.
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Identifying and analysing corporate strategy: 3.11

=> 4 questions appoach to the corporate strategy
2 basic ways in the organisations may seem to be related
- product-market relatedness
- capability relatedness
product-market fit is not an effective way to consider relatedness, capabilities as the
underlyint source of relatedness might be more appropriate
- trend to focus on profitability and size as measures of positioning
=> Corporate strategy and public sector organisations 3.12

-> government runs a lot of activities but nothing to do with each other.
Other issues in developing business or corporate strategy 3.13

=> Values and strategy
-> culture and values may need to change to support the strategy
-> failure to align value with the strategy adds greater complexity(錯綜複雜的事物) to the
successful implementation of the planned business strategy
=> Innovation and learning as keys to changing strategy over time 3.14
-> innovation and learning are critical capabilities for this continual improvement
-> Kim and Mauborgne - innovative organisations
- did not accept industry condistions as unchangeable
- did not focus on what competitiors did
- sought mass markets, not segments
- sought the set of resources and capabilities required to best deliver value to customer
- thought in terms of total solutions for customers, not traditional products and services
-> Senge - concept of the learning organisation
=> Actual strategy is different from planned strategy

-> actual strategy may not be the same as planed strategy
- Clear strategy - involving the key stakeholders in strategy development and
convincing them and the organisation that the planned strategy which is developed
is actually an effective strategy
- Fuzzy strategy - allowing for some flexibility at the margin when unplanned, but
valuable opportunities emerge which are consistent with the general direction of
the planned strategy
- Be flexible in implementation - accepting that unexpected problems will occur as
the organisaion tries to implement its plan, rather than attempting(試圖) to force
through the rigid(死板的) planned strategy when it is not feasible or appropriate
-> planned strategy needs to be flexible and opportunistic within a defined set of areas, but
not so totally flexible and opportunistic that it simply goes with the flow
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Strategic capabilities
=> Capabilities are defined as the processes, systems or organisational routines which the 3.16
organisation uses to coordinate its resources for productive use
-> resources can be tangible and intangible assets
-> resources provide a competitive advantage
=> strategic value - capabilities have to be superior to competitors 3.16
-> creating superior value for customers
-> creating competitve advantage
=> when these capabilities meet 3 crucial test - termed as strategic capabilities
1. Is it valuable to customers?
2. Is it better than the capabilities of most competitors?
3. Is it difficult to imitate or replicate?
=> capabilities are built up over time, based on experience within the organisation.
=> strategic capabilities are long term or durable and competitors wish to copy in simple way to the
existing position
=> From static(靜態的) to dynamic capabilities 3.17

-> building capabilities - current capabilities being developed and which will result in the
development of future capabilities
-> learning has potentially lead the decision changed and result in new actions that can
develop new capabilities
-> Leonard - 5 major classes of activities to build and sustain innovation in an organisation
- integrating(使結合) problem-solving across different cognitive(認知的) and
functional barriers
- implementing new methodologies and process tools
- experimenting and prototyping(標準)
- importing and absorbing technical knowledge from outsider
- learning from the market
-> Christensen
- with practise and right process, organisations can develop a strategic capability in
strategic thinking
-> Chaney
- Wesfarmers has similar capability in strategic analysis
Hubbard - 4 elements in successful organisations with dynamic capability of strategic
->
thinking
- effective execution
- ability to get organisational alignment of activities, systems and group
- ability to adapt rapidly
- being externally focussed
=> Identifying strategic capabilities

-> several approaches to search for strategic capabilities
- functions and resources analysis
- process and system analysis
-> chart of resource-based capabilities or systems-based capabilities - Figure 3.3 3.19
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=> Summary
-> Marino 3.20
- distribute performance information prior the meeting so the participant can
consider and digest(領悟) beforehand(提前地) and to guide their search and to
test their ideas
- focus first on identifying current strategic capabilities, no consider the future
capabilities ought to be
- debate the issue fully before making decision as a group about the stretgic
capabilities. Reflection can bring new insights
managers find it more difficult to assess whether a strategic capability can be
-
imitated rather than trying to assess whether the capability is valuable to the
customer
- almost certainly be necessary to compromise(妥協) to get the group to come to
some agreement
Measuring the performance of strategic capabilities 3.21

=> Different between strategic capabilities and strength
valuable to
customers
-> high quality, at the same time competitor also high that can only be identified as
strength, not strategic capabilities
-> quality better than most competitors, difficult to imitate or replicate not only be
identified as strength but also strategic capabilities
=> Internal self-perception
-> quick and low-cost method to seek information from within the organisation
better than the capabilities of most
-> strongly, positively and biased

=> Intra-industry comparisons
-> done by industries consultants
competitors
-> related to market share, cost structures, key costs and customer satisfaction
-> the information can tell how it is performating compared with competitiors, but
without reason why that performance difference exists
=> Bechmarking
-> specific activities, systems or processes - compare with the best in class
=> Cost drivers and activity-based costing
-> cost drivers can identify value chain or set of activities
=> Competitor information
=> Summary 3.22

-> identifying the strategic capabilities provides the essence of competitive advantage from
its internal activities
-> strategic capabilities are difficult to measure and difficult to be certain that they are
actually better than competitors
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Measuring organisational performance 3.23

=> The shareholder view
-> concentration on shareholder return - shareholder value or value-based management approach
-> concept of shareholder value based on market values rather than accounting measures, so
the management concern the usefulness of conventional accounting methods as strategic
performance
-> not easy to measure the shareholder value because of :
- What time period should shareholder value be measured?
- Whether or not the sharemarket is rational?
- What about organisations which are not listed?
- What about organisations which don't have shareholders?
=> The shakeholder view

-> complex measurement issues which involve:
- What measures are appropriate for each stakeholders group?
- How does the organisation balance performance between these measures?
- What does the organisation do when there is conflict between measures?
-> balance scorecard
- financial Financial perspective
- customer * shareholder return
- internal process * cash flow
- innovation and learning * major customer profitability
* profit forecast reliability
* sales backlog
Learning and growth perspective Internal business perspective

* % revenue from new services * hours with customers on new work
* rate of improvement index * revenue per employee
* staff attitude survey * returns
* no. of employee suggestions * safety incident index
* order-delivery cycle
Customer perspective
* relative pricing index
* customer ranking survey
* customer satisfaction index
* market share
-> The new world: The triple bottom line approach to performance
- concern on their environment and their communities (social performance)
=> Summary
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Comparing performance measures 3.27

=> Standards of comparison
-> performance needs to be compared with something else
- at one point of time against comparative standards
- over periods of time using trend analysis
=> Getting the information

-> financial information
-> customer information
-> internal process measures
-> learning and growth measures
=> Assessing overall performance

-> strategic performance interested in long-term performance at least three years
=> Summary
-> assessing organisational performance is critical to undestand the successful of organisation
-> establishing specific measure and gain useful information to compare each measure and
integrate whole are all necessary if strategic performance assessment is to be usefully
carried out.
CPAs and internal environment analysis 3.29

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Module 4 - Formulating a strategy - 14%
Formulate a business strategy

=> important first step - assess the gaps which exist between the external / internal
environment and current business strategy.
=> the aim of strategy formulation and implementation is to seek external and internal
consistency by resolving these gaps or inconsistencies
Gap analysis 4.03

=> Hubbard, Pocknee and Taylor - formalised gap analysis process 4.04
-> External environment and the business strategy gasps
- remote environment - business strategy gaps
- list the key trends and consider to be important in terms of their impact on the
future growth rate of the industry
Element Key trend Strategy consistency
Inconsistent - strategy expects high
Economic Slow growth expected
growth
Socio/ Work-life balance becoming key Inconsistent - need good people for
cultural issue; difficult to get good people growth
Consistent - market will provide growth
Demographic High growth expected
to enable growth objectives to be met
Expectation for 50% recycling of Consistent - procedures already meet
Sustainability
waste materials in industry this target
- industry environment - business strategy gaps

- should change in functional strategy or change in business strategy if the industry
environment cannot be altered(改變)
Business
Industry environment
Power Cause or power consistency /
element
inconsistency
Threat of new entrants High Growing industry Consistency
Supplier power Low Undifferentiated products Consistency
Chains developing Inconsistency
Buyer power Average
Fragemented market Consistency
Substitute power Low No real substitute Consistency
High growth Consistency
Industry rivalry Average Different segments
Consistency
targeted
Buyers' buyers Low Must have product Consistency
Suppliers' suppliers Not applicable here
Government High High cost to government Inconsistency
- industry rivals - business strataegy gaps

- 4 variables
- financial performance
- market position
- technology performance
- service performance
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-> Internal environment and the business strategy gasps 4.06

business strategy can be compared with the organisation's capabilities, its performance
and key stakeholder expectations to establish whether any gaps exist between these
elements and the current strategy
- capability - business strategy gaps
- list all the important capabilities required to carry out the main business activities
- assess the organisations' competitive position on each of these capabilities
- Business strategy - capability gaps - Figure 4.6 4.07
- organisational performance - business strategy gaps
- identify the key elements of the strategy of the organisation
- determines the goals or objectives that have been set to measure the performance
of each element
- organisation's current performance is recorded against each goal
- key stakeholder - business strategy gaps
- gap is rarely calculated
- expectations of key stakeholders are often non-quantitative and quite personal
- key stakeholders will assess performance from their own perspective(展望) based
on these expectations
-> Gap analysis at the corporation level

- assess the corporate strategy - corporate capabiltities gap
- assess the corporate strategy - corporate performance gap
- not occur - corporate industry analysis
- will do at the business level for each business within the corporation
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Business strategic options 4.10

=> indicate the issues that need to be addressed for the organisation to achieve its current business
strategy
=> address the 5 questions in its business strategy and will have several business-level options
-> Business strategy Question 1 : Growth options
- growth
- not only owner and senior manager expect growth but employees, suppliers and
financier all strive for growth
- consolidate
- appropriate strategy for organisations in stagnant(不景氣的 inactive) industries
- improve efficiencies or reduce the scale of an organisation's operations
- downsize
- only way to servive if they are unprofitable in the long term
- withdraw
- especially for diversified organisations which would like to focus on core business
- improve their prospects for competing in the market
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-> Business strategy Question 2 and 3 : Product and market business options
- Ansoff model of growth and diversification options
- organisation begin as a single business with a narrow product and market scope before it
ventures into additional products or markets
- expansion into related products or market should provide plenty of opportunities to focus
and consolidate on these new related markets
- expansion into unrelated products or market generally of dubious(無把握的 uncertain)
value that not allow existing capabilities to be applied to the new busines and the average
performance is quite poor
- strategic options: product-market matrix
New
Product Present
Related Unrelated
Market
Current Related
Present
position diversification
Related
Related
diversification
New
Unrelated
Unrelated
diversification
=>
=>
New
Product Present
Related Unrelated
Market
growth in existing Product diversification :
Present product-markets - related products for
increase penetration existing markets
Market Product and market

diversification : diversification : related
Related
existing products products into related
New
into related markets markets

Unrelated
Unrelated diversificatio
n
- solutions, not products or services 4.14
- solution strategy - meet total customer needs
- organisation views its products or service as a commodity
- vertical integration
- backward integration - acquiring control over suppliers or develop new supply
operations
- forward integration - gain control over customers or develop new customer outlets
and distribution operations
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-> Business strategy Question 4 : Generic strategy options

* Porter - generic strategies
- differentiation, focus, low cost
Basis of competitive advantage
Cost Differentiation
Differentiation
Lowest cost leadership
1. product quality 2. product
Competitive scope
Broad target
1. no-frill product
reliability
market
2. simple product design

3. product innovation 4. product range
3. an inexpensive location for operations
5. service levels 6. features
4. process innovation
7. brand name 8. image
5. purchasing low-priced assets
9. distribution channels
Focus - cost Focus - differentiation
Narrow
market
target
1. narrow product line 2. narrow customer segment

3. narrow geographic segment 4. focussed functional capability
- Hubbard , Pocknee and Taylor 4.19

- Leader strategy - both differentiation and low cost
high
differention
Degree of
Differentiation Differentiation and low cost (Leader)
Stuck in the middle Low cost

high low
low Relative cost
* best cost or value for money 4.20

- tries to combine both differentiation and low cost approaches
- not the lowest cost or the highest differentiation
- risk to become a stuck in the middle strategy unless both sufficient differentiation
and low enough price
- everyday low prices or value for money - Wal-Mart based on several elements
* Treacy and Wiersema
- value disciplines(訓練) as generic strategies
- operationally excellent
- customer intimacy(熟悉)
- product leadership
- can further development to Porter's generic strategies - differentiation
* strategic flexibility
* effective execution
- perform a set of activities better than competitors
* stuck in the middle
- does not choose one of the generic strategies
- no sustainable competitive advantage
-> Business strategy Question 5 : Business position options

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Corporate strategy formulation 4.22

=> 4 questions appoach to the corporate strategy
-> growth
-> consolidation
-> downsizing
-> withdrawal
2 basic ways in the organisations may seem to be related
- product-market relatedness
- capability relatedness
- financial performance as a corporate goal or consistent positioning across industries
Risk assessment 4.24

=> Consider a range of alternatives
=> Be conservative
-> easy to come up with attractive-sounding proposal may be hidden practical traps(陷阱)
-> Hubbard - long-term successful organisations tended to
- consider the downside of proposals
- seek independent risk assessment
- find ways to spread the risk either amoung partners or by making the decision
over time.
-> before decision making - few questions should be asked
- What can go wrong with this project?
- What is the worst outcome that can occcur?
=> Forecast the alternatives
=> Use up-front planning
=> Consider competitive reactions 4.25
-> how long the competitors to copy the product?
-> what new features and products are they planning to introduce?
-> what price from competitor reactions to the proposal?
=> Rumelt's criteria for evaluating stategy
-> is the strategy internally consistent?
-> is the strategy consistent with the external environment?
-> is the strategy feasible(可行的)?
-> does the strategy create or maintain a basis of competitive advantage?
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Strategic decision-making 4.27

=> Rational decision-making
-> Harsanyi - criteria of rational decisions
- are conscious(意識), explicit(明確) and deliberate(深思熟慮)
- are internally consistent and logical
- are fully informed
- aim at achieving the end goal
- allow for independent means and ends
- involve choice between alternative ends and alternative means, choices which aim
to maximise the end results achieved
- assume a causal relationship between the means taken and the end results achieved
-> Davis & Devinney - rational decision-making model
1 clarify the goal
2 define and structure the problem
3 identify criteria against which alternative solutions will be evaluated
4 determine the weights to be assigned to each criterion
5 analyse the situation
6 generate alternative courses of action
7 evaluate each alternative against the criteria, using the weighting system
8 choose the alternative with the highest score
=> Why does decision-making vary from the 'rational' in practice? 4.28
-> March
some factors which cause leaders and managers to diverge form the rational model
- managers have limited or bounded rationality
- not able to hold all the information at particular time to produce the perfect decision
- organisation 'rule' for decision-making are biased toweards particular values and
processes
- groups make decisions, not individuals
- individuals' preferences(優先權) vary over time
- not all individuals have equal input into decisions
- not everyone is involved consistently in all strategic decisions
- presence or absence of certain individual affects both the tone and process
especially a key opinion leader
- trust and loyalty varies
- groupthink occurs
- think similarly, conflicting informantion is filtered out or ignored
- teams include individuals whose personal preferences(優先權), styles,
requirements and ambitions(抱負) clash(抵觸)
- information is ambiguous(含糊不清的)
- causality(因果關係) is unclear
- strategic decisions are unique, so there is little opportunity for learning
- interpretation of events varies
- people are biased in their interpretations of past events
- lack of clear decision-making processes
- unable to clearly understand how past decisions have been made
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Practical strategic decision-making 4.31

=> effective process for strategic decision
-> involve a wide enough group of people with appropriate experience
-> have enough information
-> have a thorough and clear process which is accepted
-> agree clearly
-> time frames for actions should be realistic
-> get buy-in or emotional commitment from those who have to undertake the actions to
make the strategy work
-> follow through on implementation
-> overcome passive resistance
- easiest way to stop the plan - do nothing
-> keep the focus strategic
Leadership and strategy formulation 4.32

=> before embarking(從事) on the strategy formulation process, the leadership should
-> view about the organisation's position
-> focus on the emerging issues
-> responsible for the strategic process
-> ensure the leadership team agreed decidions that they are as rational or objective as possible
-> leaderhsip team needs to seek commitment, not only the team, but also the rest of the
organisation
-> following through to ensure the strategic plans are actually implemented
The role fo the CPA in formulating strategy 4.33

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Module 5 - Implementing Strategy - 14%
Tasks of strategy implementation process 5.03

=> aligning(調準 disposing) strategy with an organisation's environment
=> exerting(發揮 employing) leadership to drive strategy throughout the organisation
=> configuring(裝配) organisational structure and culture with strategy
=> managing(引導 leading) the politics of strategy implementation
Activities of strategy implementation process 5.03

=>
developing budgets to shift resources from declining areas to growth areas of the business
=> motivating employees to pursue(追求 seek) target objectives
=> changing employee duties are required
=> redesigning the reward structure to fit strategic objectives
=> overcoming resistance to the implementation program
Srategy: From thinking it to doing it 5.04

McKinsey 7-S framework - the process of implementing strategy R5.1/5.05
1 Strategy
A coherent(連接的 articulate) set of actions aimed at gaining a sustainable(能保持的 hold)
advantage over competition, improving positions vis-à-vis customers, or allocating resources
2 Structure
The organisation chart and accompanying(伴隨 ) baggage(裝備) that show who reports to
whom and how tasks are both divided up and integrated
3 Systems
The processes and flows that show how an organisation gets things done from day to day
4 Staff
The people in an organisation. Here it is very useful to think not about individucal
personalities but about corporate demographics
5 Skills
A derivative(引出的) of the rest. Skills are those capabilities that are possessed by an
organisation as a whole as opposed to the people in it.
6 Shared values
The value that go beyond, but might well include, simple goal statements in determining
corporate destiny(命運 fortune). To fit the concept, these values must be shared by most
people in an organisation
7 Style
Tangible evidence of what management considers important by the way it collectively spends
time and attention and uses symbolic behaviour. It is not what management says is
important; it is the way management behaves.
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Thompson & Strickland - 8 big managerial components of implementing strategy 5.06
Building an organisation
with the competencies,
capabilities, and
resource strengths Allocating ample(
Exercising the needed for successful
strategic leadership 充裕的 )
strategy execution
needed to drive resources to
implementation strategy-critical
forward activities
THE STRATEGY
IMPLEMENTER'S Establishing
Shaping the ACTION AGENDA strategy-
work - What to do now v. later supportive
environment and - What requires much policies
corporate culture time and personal
to fit the strategy attention
- What can be delegated
to others
Tying rewards and
incentives to the Instituting best
achievement of practices and
key strategic Installing information, pushing for
targets communication, and continuous
operating systems that improvement
enable co. personnel to
better carry out their
stratey roles proficiently
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3 broad organisational variables that encapsulate(壓縮) many of these factors 5.06

1. Managing people and systems 5.07
=> Strategy and culture
Edgar schein 1985 - cultural dynamics and issues 5.08
-> analysis culture may help to understand inter-group conflicts within the organisation
-> right mix of group and organisational culture is vital for ahcieling effective
communication and overall performance
-> Consensus(一致) on change
-> Consensus on criteria for measuring results
-> An organisation's culture, once established, needs to be maintained and at times
changed
Samson& Daft 2003 - strength of cultural differences between their home country and 5.10
the country in which they operation
-> Power distance
-> Uncertainty avoidance
-> Individualism(個人主義) and collectivism(集體主義)
-> Masculinity(剛毅) and femininity(陰柔)
Thompson & Strickland 2002 - actions to link the international success 5.12
->
decision-making decentralised to the local or regional market of operation.
-> developing a global management development program and promoting
foreigners to senior management positions
->
making international experience a prerequisite for promotion to the top
-> establishing a global communication system
=> Performance management 5.12
-> performance management is a process and an activity that is critical to the task
of implementing strategy
=> Reward systems
=> Linking budgets to strategy: The CPA role
=> Strategic information systems
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2. Designing structure 5.16

Porter's value chain
FIRM Ensuring efficient, effective information, reporting, planning and control systems
INFRASTRUCTURE operate within and between each of the primary activities
SUPPORT ACTIVITIES
Defining value in customer terms by identifying and implementing appropriate
MARKETING product, pricing, promotion and distribution strategies wherever they may be
necessary in the primary activities
HUMAN
Ensuring the right people, with the right skills, abilities and motivation operate
RESOURCE
within each area designated as a primary activities
MANAGEMENT
TECHNOLOGY Ensuring each primary activity has the correct type and level of technological
DEVELOPMENT support.
PROCUREMENT Obtaining resources for each primary activities.
INBOUND OUTBOUND MARKETING &
OPERATIONS SERVICE
PRIMARY ACTIVITIES
LOGISTICS LOGISTICS SALES
Maximising the Assisting the customer

Ensuring the value of
value of supplies by Assembling, to buy and consume the
the product by
locating, ordering, Processing storing and product, including via
augmenting it with
handling, storing inputs to delivering the sales force
support mechanisms,
and controlling create valued products/service administration,
guarantees and all
inputs, including products / into the distribution purchase order
activities which help the
physical, financial services channel or to the processing and
customers use and obtain
and human final consumer customer account
value from the products
resources management
Thompson & Strickland 2002 - designing structure - to success the strategy - value-chain
-> What functions have to be performed well to achieve sustainable(能維持的)
competitive advantage?
-> In whan value-chain activities would poor performance endanger(危及) strategic
success?
=> Range of factors determine the types of structures 5.17
-> The organisation's strategy is primary consideration
-> The environment in which the organisation operates is critical
-> The technology used by the organisation is also relevant
-> Size is similarly important
-> The people and the culture of the organisation must also be considered
=> Types of organisation structures
- 5.17
Robbins & Barnwell 1998 - 3 main conponents of all organisational structures
-> complexity
the degree of differentiation, horizontally and vertically, between jobs and
units. The more complex the organisation, the greater the dificulaties of
communication, coordination and contro;
-> formalisation
the degree to which jobs in an organisation are standardised
-> centralisation
the degree to which authority to make decisions are concentrated in an
individual
- organisation's structure 5.18
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-> The simple structure

-> The functional structure
-> The multidivisional structure
- Corporate level
- Business level
- Functional level
-> The matrix structure 5.20
-> Comtemporary structual forms
- Cluster(串) organisation
=> Organisational design
-> Centralisation versus decentralisation
- Centralisation or decentralisation depends on industry, environment and 5.23
technology
Centralisation Decentralisation
desicision-making authority a the top to lower levels
control narrow spans of control Wide spans of control
layer hierarchical flat
-> Corporation become more decentralisation because of

- IT development
- outsourcing non-critical activities
-> outsider perform better or more cost effectively
-> advantage of outsourcing
- concentrate on value-chain activities where can build strategic
capabilities and competitive advantage
decrease internal bureaucracies and flaatten the organisation
-
structure
-> Successful ex - Nike concentrating on design, marketing and distribution
to retailers
-> Mintzberg & Quinn 1996 - 2 contrasting patterns of organisational 5.24

configurations (結構)
- mechanistic
- hierarchical control
- sutiable for successful firm in stable environment
- organic
- self-regulation
- sutiable for successful firm in changing environment
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3. The politics of strategy implementation 5.25

=> Politics: Power in action
-> 2 sets of forces 5.26
1. rational forces of openness, communication and self-analysis
2. political forces - internal rivalry and emprie protecting
=> The influence of organisational politics on the implementation process 5.28
=> Is political activity functional or dysfunctional?
=> Managing conflict
Esisenhardt el al. 1997 - tactics for managing interpersonal conflict
-> More objective and relevant information
-> develop a range of alternatives to strengthen the debate
-> injecting(引入) some humour(幽默感) - excitement of competition and pressure
rather than stress and worry
-> balance power structure
-> resolve issues without forcing consensus
=> Resistance to the implementation process 5.30
-> 2 levels resistance
1. organisationa resistance
-> Structural inertia(惰性)
-> Limited implementation focus
-> Group inertia
-> Power relationships
2. individual resistance
-> Habit and security
-> Economic factors
-> Selective information processing
Reviewing the implementation process 5.32
The role of leadership in implementing strategy 5.32
=> Leadership and management by walking around
=> Role modelling and coaching(輔導)
=> Selecting people for key positions
=> Building core competencies and capabilites
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Module 6 - 14%
Module 6 - Leadership and the strategic process

The nature of strategic leadership 6.04
=> Daft 1999 - strategic leadership
- encompassing(包含) the vision, mission, strategy and structure of an organisation
- the leadership role of initiating(開始) and overseeing this process and provides tools to enable
effective performance
=> The importance of leadership 6.05
- traditional viewpoint - leadership is critical for success
- opposing view - other factors affect the successful
=> Organisational levels of leadership
- business strategy developed by CEO and board of directors
- functional strategy developed by department head or functional head
=> Character and leadership
- focus on motivating and inspiring people
=> A hierarchy of leadership - Jim Collins 6.07
all 5 levels relate to levels of competent leadership
Level 1 Highly capable individual who makes a contribution to the orgainisation
Level 2 Contributing team member who works with others and achieves objectives
Level 3 Competent manager capable of organising people, time and other resources to achieve
objectives
Level 4 Effective leader who can pursue a vision, encourage and stimulate a group to commit
to, and pursue high standards.
Level 5 An executive who builds lasting greatness
- humility(謙卑) and fierce(狂熱的)
- transformed from good to great, sustained this success over the long-term
- describe the difference between level 5 and low level -mirrow and window concept
Achieving strategic success 6.10

=> Kotter 1995 - 8 key successful strategic requirement
1. Establishing a sense of urgency
2. Forming a powerful guiding coalition
3. Creating a vision
4. Communicating the vision
5. Empowering(授權) others to act, and eliminating obstacles
6. Planning for and creating short-term wins
7. Consolidating improvements and producing still more change
8. Institutionalising(制定) new approaches
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Module 6 - 14%
Transformational leadership 6.11

=> Dunphy and Stace 1993 - 4 styles of change management
1. Fine tuning
2. Incremental adjustment
3. Modular(分單元的) transformation
4. Organisational transformation
=> Key phases of transformational leadership 6.12

Tichy and Devanna 1990 - 3 phases of transformational leadership
1. need for change
2. provide an alternative vision for the future
3. implement - change into the organisation and makes it permanent
=> Impact of transformational leadership on individuals

- require disengagement (脫離) from the past
- unsettling(使人不安的) until employees are able to link their identity with the new situation
The role of leaders in strategic thinking 6.15

- Key leadership function is to craft (精巧地製作) and implement a strategy in or der to translate a
vision into reality
- Strategic thinking means taking the time to consider the big and important issues over and above
the urgent day-to-day tasks and problems.
=> Balancing stability and change 6.17

Zakon and Lochridge - Balance model
1. Creation - flexibility
2. Growth - provide suitable returns
3. Efficiency / advantage - ensure stability and control
- larger firm - benefit of scale - inflexibility
- small firm - flexible - difficult to maintain control of process
The role of leaders in strategic analysis 6.18

strategic thinking come from intuitive feeling, identification of key external and internal factors
that impact on an organisation is essential
=> External analysis + key external stakeholder
=> Internal analysis
- key internal stakeholder
- strategic capabilities
=> Performance measurement
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Module 6 - 14%
The role of leaders in setting direction 6.22

=> Visionary(有遠見) leadership
4 key roles of a visionary leader
1. setting the right direction
2. acting as change agent
3. communicating as spokesperson
4. coaching(訓練) others along the way
Vision chart 6.23

100 vision (no action)
100% Action (no vision)
Pie-in-the-sky(不可及的夢想)
Blind leader (has no vision)
daydreaming
No Vision and no action Vision and Action
Non-leader Effective leader
The role of leaders in strategy formulation and selection 6.23

=> Use 7-s for testing whether a proposed strategy will achieven its aim
7-S - Structure
Strategy
System
Staff
Skill
Style
Shared value
=> Risk assessment 6.24

- How many alternatives have been considered, and why have any been excluded?
- How conservative are the estimates made in each proposed alternative?
- Has the impace of competitor reactions been considered and included in the proposals?
- Have significant obstacles been identified and methods for dealing with them outlined?
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Module 6 - 14%
The role of leaders in implementing strategy 6.25

=> The importance of strategic leadership - Kotter 1995
- establish a sense of urgency
- communication the vision
- empower others to act
- make new approaches ingrained(根深蒂固的) in the organisation
=> Sense of urgency - require effective communication of the gaps in the present strategy
=> Communicating the vision and strategy
- current situation
- what currently works
- problem or futer problem (identifying the need for change)
- recommended change
- outline and benefit
- risks and problems
- William and Miller 2002 - several techniques to persuade(說服) and convince the people
1. Charismatics - present the most important information immediately 6.28
2. Thinkers - provide various perspectives on a situation
3. Sceptics(疑慮極深的人) - forming an alliance with people the sceptic holds in high
esteem to generate credibility and trust
4. Follwers - provide case studies of success in similar area
5. Controllers
=> Overcoming resistance and cementing(鞏固) change in an organisation 6.29
Tichy and Devanna 1990 - some reasons for resistance to change
1. Technical reasons
2. Political reasons
3. Cultural reasons
=> Surfacing and dealing with resistance
Hiebert & Klatt 2001 - 3 tenchiques
1. Two good-faith(誠懇) responses
2. Escalating confrontation using the 5-C process
a. concern
b. confer(協商)
c. consult(磋商)
d. confrontation(比較)
e conclusion
3. Kotter's general recommendations
a. use education and communication
b. use participation / development
c. use facilitation / support
d. use negotiation / agreement
e use manipulation / coercion(高壓政治)
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Module 6 - 14%
=> Empowerment and developing future leaders 6.30

Select a staff who are capable of both following effectively and assuming greater leadership
Followership
- Characteristics
- they manage themselves well
- they are committed to the organisation or a purpose outside of themselves
- they are able to keep learning and building their competence
- behave in a courageous(勇敢的), honest and credible manner
- Dealing with followers
Blanchard, Zigarmi and Zigarmi 1985 - Situational approach with 3 key skill 6.31
1. flexibility - ability to move between leadership styles as appropriate
2. diagnoisis - ability to select the right style and match it to the situation
3. contracting - performance review function and includes planning, coaching and evaluation
=> Leadership styles 6.32

- 4 types of leadership style
1. directing
2. coaching(訓練)
3. supporting
4. delegating
- Strategic leadership styles and the organisational life cycle
Stage Start up Growth Maturity Shake-out Decline

Style Risktaker Caretaker Surgeon Undertake
Rothschild 1993 - 4 styles of strategic leadership

1. risktakers
2. caretakers
3. surgeons
4. undertakers
Leadership and the CPA 6.34

Future challenges 6.35
The pace of change
Globalisation and the need for global leadership
Technology
Task 1
Summarise the strategic position of Chasseur Chickens
a. What type of organisation is Chasseur Chickens?
Chasseur Chicken is a family-owned, private Austrian company. It was founded in 1951 by Charlie
Chasseur and has been run by his grandson, Bob Brown since 1984 when Charlie died
b. What industry does Chasseur compete in?
Chasseur is the third largest company in the Australian chicken meat production and processing
industry. Core activities cover breeding, hatching, farming, production, processing and distribution,
having backward integrated over the last decade
c. What are the key issues that will affect future indsutry growth? What is their likely impact? How is
future growth for the industry assessed?
Future growth for the overall industry is assessed as low-medium
- Social
- Demongraphic
- Cultural
- Economic
- Political
- Legal
- Technical
d. What are the key issues that will affect industry profitability? What is their likely impact? How do
you assess the future profitability for the industry?
Based on Porter's 5 forces concept that if customer bargaining power, supplier bargaining power,
competitive rivalry, substitute and new entry are low, the profitability will be high.
Customer bargaining power is medium -
Supplier bargaining power is low - vertical integrate
Competitive rivalry is high - there have around 80 competitor
Substitute is high - the people can choose other meats and other foods
New entry are low - since it need a high volume capital and should have a economic of scale and
assess the distribution
e. What business strataegy is Chasseur supposed to have been pursuing and has this in fact been the
case?
5 question
- Does Chasseur plan to grow?
- What products/ services will Chasseur provide?
- In what markets will chasseur operate?
- What generic strategy will Chasseur adopt?
- What position in the industry does Chasseur plan to hold?
What are the stretegic capabilities of Chasseur, and do these meet the strategic goals of the
f.
company?
- Are they valued by the customer?
- Are they better than the competition?
- Are they difficult to replicate or imitate?
g Who are Chasseur's key stakeholders, what are their objective and are their objectives aligned with
Chasseur's strategic goals?
h How has Chasseur performed to date?

Balance Scorecard
- Financial perspective
- Customer perspective
- Internal operating efficiency perspective
- Learning and growth perspective
i Who are Chasseur's competitors? What are their strengths and weaknesses? How is Chasseur
placed compared with them?
Task 2Summarise the key strategic issues for Chasseur Chickens

- The gap between the stated strategy of being the industry's leading company and its actural
position as the third largest company in 2002
- The entry of the major companies into the value added segment segment due to changing
consumption trends and its higher profitability
- Chasseur has no significant differentiation factor compared with its competitors
Task 3 Make recommendations, including justifications, of how Chasseur Chickens should address these
key strategic issues, prioritising initiatives into short, medium and long-term timeframes
*Ansoff product/market matrix
- Market penetration - existing markets and existing products
- Market expansion - new market and existing products
- New product development - existing markets and new products
- Diversification - new market and new products
*Rumelt's criteria for evaluating stategy

- Is the strategy internally consistent?
- Is the strategy consistent with the external environment?
- Is the strategy feasible(可行的)?
- Does the strategy create or maintain a basis of competitive advantage?
Task 1
Summarise the strategic position of Schultz Wine Limited
a. What type of organisation is Schultz Wine Limited?
Schultz Wines is a family-owned, listed on Australian Stock Exchange in 1992.
It was founded in 1840s by Barossa Valley and has been run by a fifth generation
winemaker, Frederich (Fred) Schultz.
Schultz is the 8th wine producing companies, make only high quality
b.
premium wines for domestic and export sales.
Macro environment analysis - future growth for overall industry is assessed

c.
as medium-high
Assessment
Nature of impact
of impact
Social factors: on industry
on industry
growth
growth
1. Health concerns that red wine reduce risk of cardiovascular disease and
Positive High
increase overall lifespan
2. Wine consumption by regular and moderate consumption (changing role
Positive Medium
of women and ageing of Australia's population)
Positive, domestic
consumption is below other
3. Low domestic consumption per capital compared with other countries
country level and, has
Table 9 (p.8)
opportunity to grow to these
levels
4. Wealth and incomes increased, consumer tastes have changed. Premium
wines are favoured more. P.9
5. Trend of eating out and expanded wine can be consumed Positive Medium
6. The overall impact of social change is positive for industry growth
Demographic factors
1. High level of beer consumption in Australia Negative Medium
2. Growth in income and rising living standards raised per capita wine
Positive Medium
consumption in Australia
3. The overall impact of demographic factors in neutral for industry growth
Cultural factors:
1. Lifestyle change expanded changes, wine is a mainstream alcoholic
Positive High
beverage accompany meals in the home
2. Consumer preferences extend western behaviours and tastes to Asia
Positive High
providing an even greater market growth opportunity
Economic factors
1. Strong growth in Australian economy Positive High
2. Economic cycle provided strong impetus to growth in wine demand,
Positive High
especially for expensive price categories
3. Low inflation and low interest rate environment in which the growth has
occurred has been very beneficial for expansion of capital intensive wine Positive Medium
producers
4. Average household income expected to continue rising over the long term Positive Medium
5. Oil prices increases, rising interest rates, high household indebtedness,
Negative Medium
volatile exchange rates and vulnerable share-market valuations
6. Global oversupply of grapes make Australian wine surplus insignificant
Negative Low
and sales of excess production
7. Australian winemakers selling bulk, unbranded wines to world market to
blend of excess grapes from a variety of geographical areas. Australia has Negative Medium
fought
8. The overall impact of economic factors is positive for the industry
Political factors
1. Australian government offered tax incentive to growers planting vines of
Positive Medium
premium grape varieties
2. The overall impact of political factors is negative for the industry
Legal factors
1. Tightening drink driving laws slight dampening effect on consumption of
Negative Medium
wine
Technical factors
1. Innovation in viticulture and wine processing technology p.3 Positive Medium
d Key issues affect future industry profitability

Porter's five forces model
Threat of new entrants is medium to high
1. In a decade, number of wine companies grown from 892 to 2000 P.4 Medium to high
Bargaining power of Suppliers is medium to high
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1. Increase in vine planting has contributed to an increase in wine
stockholdings given that export sales demand has not grown at the same rate
Medium to high
as production growth. Excess stockholding contribute to depressed wine
prices over the next five years p.2
Threat of Substitutes is medium to high

1. High level of beer consumption in Australia P.7 Medium to high
Bargaining power of buyers is medium to high

1. Australian wine surplus insignificant and the sales of excess production.
Winemakers might be tempted to solve the oversupply problem by selling Medium to high
bulk, unbranded wines to the world market.
2. Exports are largest distribution channel for Australian. 60 per cent of
exports are shipped direct to large retailer customers, including major
supermarket chains. Presence of strong branding and marketing support is Medium to high
critical to achieving market penetration. Australian brand no brand
differentiation. p.11
3. Domestic wholesale wine merchants is the second largest distribution
channel. Increasing power of supermarket chains cited by major wine
companies as a reason for deteriorating performance. Retailer demands for Low to Medium
high margins and strong promotional support have squeezed producer
margins and created a dilemma.
4. Retailer demand for high margins and strong promotional support have
squeezed producer margins and created a dilemma. Retailers can decide to
Low to Medium
not allocate shelf space to wine brands for dissatisfied with the trading terms.
P.11
Rivalry among existing competitors is medium to low.

Australian winemaking industry is a mature industry. Economies of scale,
marketing, distribution and export capabilities are becoming more critical as
Medium to low
local supply continues to exceed demand. The need for theses capabilities
has driven much of the merger and acquisition activity. P.2
e Schultz's business strategy

The five questions approach
1. Does Schultz plan to grow?
Yes-Aims to expanding the distribution bases of Schultz Wines' products in
both the domestic and export markets through widely recognised brands and
strong distribution relationships
2.What products will Schultz provide?

Stated strategy is 'Being a producer of superior premium varietal wines."
3. In what markets will Schultz operate?

Expanding distribution in both the domestic and export markets
4. What generic strategy will Schultz adopt?

Superior premium market with low cost by crushes grapes for other wineries
to achieve production economies of scale.
5. What position in the industry does Schultz plan to hold

a. Acquiring top quality grapes by developing further the strong relationships
between the company and the grape growers
b. Maximising returns to shareholders, conserving adequate funds to provide
the necessary working capital for the continued operation and growth of the
company, and using resources in an environmentally sustainable way.
Strategic capabilities of Schultz Wines, and do these meet the strategic goals
f
of the company's
Strategic capability tests
1. Are they valued by the customers?
2. Are they better than the competition?
3. Are they difficult to replicate or imitate?
Better than Not

Valued by the the easily
Schultz Wines capability assessment
customers? competition replicate
? d?
1. Fully integrated business model (only dispatch to domestically &
no no yes
international distributor)
2. Strong quality focus (Focus premium varietal table wines) yes yes no
3. Low cost operator (Crushes grapes for other wineries to achieve costs
yes yes no
competitive)
4. Culture and management (Loyalty, hard work, talent, patience, teamwork
yes yes no
and recognition of other peoples' talents are the values define the company)
5. Size-economies of scale (update of production facilities to world-class
yes yes no
standard crush 30000 tonnies of grapes per annum
6. Accredited supplier to grape growers (special relationship that in trust,
yes yes no
loyalty and friendships)
第 69 頁，共 73 頁
7. Dominance of value added segment (Premium table wines with high
yes yes no
margin)
8. Conservative, traditional family culture (Well respected family owned
yes yes no
wine merchant and forged strong relationship with other wine merchants)
9. Focus on R&D/product development (closely with operations manager
and the other teams in cellar, laboratory, maintenance and packaging
yes yes yes
department). Senior company employees hold positions in industry's peak
bodies and research organisations including the AWBC.
Who are Schultz wines key stakeholders, what are their objectives and are
g
their objectives aligned with Schultz wine strategic goals
1. Frederich Schultz, the fifth generation winemaker Aligned with stragtegic goals?
Yes, wants to keep growing
and successfully rally small
a. Growth and prevent Schutlz from being takeover.
shareholder to against Allens
Group's takeover
b. Prestige in the family company No. may not be interested in
deals with key competitors due
to the need to maintain 'family'
c. Personal power over a large empire control
2. Contract grape growers

Yes, ensure to access widest
a. Secure contract and special relationship
variety of grapes
b. Maximise profitability No. may result in higher growing cost
3. Schutlz wine employees
Yes, recognitions peoples'

a. Secure employment prospects talents and maintains loyalty,
hard work, patience, teamwork
b. Constant quest for improvement distinguishes peoples's talents are the

value
4. Government/AWBC
Yes, actively assist Australian
a. Ensure efficient industry companies to expand other
market such as India
5. Wine merchants
Yes, an asset for access to
a. Strong relationshps secure prestige distribution channel hotel and restaurants in UK
and US
h Schultz wine's performance is reasonably sound and robust

1. Schultz wine's financial performance is excellent because it given success
in the domestic market premium table wines with high margin. Gross
margin 37.2% is higher than Industry average 34.9% and Key competitor
average 33.1%
2. Return on assets has declined from 8.6% (2003) and 8.2%(2004) to 8.0%
(2005). However, it is still higher than Industry average 5.8%(2005) and
Key competitor average 7.7%(2005). Also the ROA % declined for whole
industry.
3. Customer perspective, Schultz wine's performance has a large gap
between Schultz wine's industry market share (1.6%) with Allens Group
(25.6%) and Brooks Wine (22.6%)
4. Internal operating efficiency is excellent. Net margin of Schultz Wines
(20.7%) is higher than Industry average (16.3%) and Key competitor average
(14.3%)
5. The "golden grape" focus maintained by the company also chosen as the
company's corporate logo. 'golden grape' have won the Australian industry's
converted 'Wine marketer of the year' award several times in the last decade.
6. Overall performance can be considered mediocre. The fact that Schultz is
in a relatively low market share indicates that the company has scope to
grow
Future
Weaknesse
I Competitive assessment competiti
s
veness
Name - 1.Generic strategic 2. Value proposition Strength Strong
Highest market
1. Allens group - Focus Fully integrated Strong
share
Largest wine
2. Brooks Wine - Focus integrated with own vineyards company in the Medium
world.
第 70 頁，共 73 頁
Cancellatio
n of a large
French-based overseas
3. Capricorn wines - Differentiation Largest Australian table wine export
international order with Weak
in UK, Ireland, Norway, Japan, Singapore & New Zealand
liquor distributor potential
takeover
target
Size and
Increasing on
4. McMillan Chamber Wines - Focus Contract of export customers competitive Medium
exports
issue
Owns three
Size and
5. Stefano Wines - Focus Owns three wineries in three diverse premium wineries in three
competitive Weak
wine regions diverse premium
issue
wine regions
Reputation for
No
6. McFarlane Wines - Differentiation Well know brands with reputation for innovative,
economy of Weak
innovative advanced technology wineries and vineyard advanced
scale
technology
Developed global
premium wine
7. Australian Beverages - Focus Extensive portfolio of beer brands
business through
acquisition
Summary of Schutlz wines current strategic position

To maintain its competitive advantage, Sshultz wine should consider some
possibilities:
1. To diversify through an merger with other winemaker such as Australian
Beverages
2. Further opportunities for forward (The Schultz Cellar Club) or backward
integration (Contracts with wine merchant partners to extended direct-to-
consumer distribution), Air Australia
3. Establishment of export markets and control over distribution channel
with other cournties
4. Supply contract for the suppliers 1. Bottles, corks and stelvins, capsules,
labels and cartons
5. Proudction of wine varieties currently favoured by the market: Consider
expand protfolio with other wines 1. Sparking wine 2. Fortified and other
6. Build strong branding and marketing relationships
7. Guaranteed supply grapes via contract growers
8. Expand market in India, a new export market
Special relationship that exists between grape growers and Schultz Wine.
j Trust, loyalty and friendships relationship that Schultz has access to the idest
variety of the best Barossa Valley grapes available.
Schultz Wines focuses on making premium varietal table wines and

generally outperformed the industry overall and its competitors in Australian
industry over last five years.
Schultz Wines crushes grapes for other wineries. Extra activity enables the
company to achieve production economies of scale and keep its cost
competitive with its larger rival winemakers.
Responsibilities to the community, the environment and sustainability

seriously. The company was the first Australian winemaker to implemental
a Hazard Analyses Critical Control Points (HACCP) plan for food safety
system. This has provided strategic advantage in relation to export sales.
Key strategic issues for Schutlz wine

Task 2 The key strategic issues for Schultz wine can be summarised as follows:
1. Being a producer of superior premium varietal wines

Schultz wine focus on premium table wines, but maket has ever-changing
tastes. Schutlz need to security of access to a wide variety of grape types and
able to change production and blending processes quickly as tastes change.
2.. The gap between the stated strategy of expanding the distribution base of
Schultz Wines' products in both the domestic and export markets through
recognised brands and strong distribution relationships.
With Allens Group; Brooks Wine and Capricorn Wines are International
corporates, Schultz wines need to development of export markets is crucial
and domestic market is relatively small and mature. Control over
distribution channel within export markets is also crucial,.
3. Acquiring top quality grapes by developing further the strong relationships

between the copany and the grape growers.
Schutlz wine has no their own vineyards and they need to assruance of grape
supplies via contract growers. Schutlz wine with expertise in making a
range of wine types have a greater ability to switch production to wherever
demand is strongest.
第 71 頁，共 73 頁
Task 3 Identifying strategic options for Schutlz Wines
Using Ansoff product/Market matrix
Short to medium-term recommendations

1. Market penetration-existing product into existing markets
Schultz wine ability to achieve high growth through this option is limited
due to the domestic market is marture. It is recommended that the key
strategic of merger as follow:
Australian Beverages-due to its portfolio of beer brands include the
distribution of licensed wine and spirits brands, the production and
distribution of 'ready-to-drink' beverages, liquor retailing and malt extraction
for home brewing and the food industry, therefore, establishment of export
markets to effect of stronger retailer power
McFarlane Wines-is an interesting option due to its position as a niche

company in the industry (awarded 32 trophies and over 480 medals of well
know brands). Also innovative, advanced technology in wineries and
vineyards to acquiring top quality grapes. Increasing size and scale are
interest to reduce production costs
Stefano Wines-Own three wineries in three diverse premium wine regions,

Stefano wines overseen by Giuseppe Stefano, who is now nearing retirement
and current generation has no interest in winemaking industry. Schutlz wins
may gain the interest due to its position Gallant One which had set the
industry benchmark for dessert wines and draw consumer demand by strong
branding wine.
McMillan Chamber wines-due to its relatively poor financial performance by

the major customers cancellation of large overseas order led to discounted
mcMillan wines. The company also produces sparkling wines, premium red
and premium white varieties also provide an ability to switch production to a
wine variety that is currently in demand.
Further option on product development - New products into ixisting markets

Schultz wines would expand protfolio to Sparkling and fortified wines. For
example, extensive of beer brands to development the makret for the high
level of beer consumption in Australia.
Market Expansion-Existing products into new markets

Given the success of The Schultz Cellar Club in Domestic market, Schutlz
also review of the UK and US market to a direct sales model. Good
relationship with wine merchant and major supermaket coustomers results to
internatinal expansion the The Schultz Cellar Club.
Long-term recommendation
Market expansion-Existing product into new markets
Givin India has one of largest and most diverse mixes of races in the world,
Australian government actively assist Australina companies invested to
tender for busines in India to ensure their success. Schultz wines could
investigate the opportunity for the development.
Diversification-New Products into new markets

Schutlz wines could be expansion into Sparkling and fortified wines into
International market. For example, India, UK and US.
Evaluation of Schutlz wines strategic options

1. Internal consistency
Given the curretn strategic, operational fna dfunctional capabilities of
Schutz, it is evident that both market penetration and product development
are hightly consistent strategies.
Schutlz wins' already has the key internal requirements to successfully
undertake these options and, as such, the risk to the compnay of pursing
these options is assessed as low.
The real real issue arises from evaluationg how internally consistent are
market expansion and diversification. Schutlz wines current capabilites are
not so weel suited to these option, which involve the management of expand
products and market portfolios. Accordingly, these options carry an
increased inherent risk for the business-they require new strategic
capabilities and skill set as well as changes to the existing functional
strategies of Schutlz wines. However, that is not to say that these option
should not be pursued. Rather, Schultz wines should undertake a detailed
analysis of changes that the business would be required to make, if it were to
adopt andy of these strategies. It should alos consider the issue of how easily
the changes cna be enacted.
External consistency
第 72 頁，共 73 頁
Schultz is currently the eithgty largest competitior in the Australian
winemaker and does not compete in Sparkling and fortified wines industries
at all. On this basis, it is clear that again the Market penetration and Product
development are consistent with the external environment. Opportunity still
exists for Schultz wines to create further economies of scale and grow within
the current industry. It should be further noted that the key competitors will
also be looking for such opportunities. Schultz wines nees to ensure that it
continues to look for new opportunities in this area to stay one step ahead of
the competition.
Feasibility
While market penetration is certainly both internally and externally
consistent, how realistically it can be achieved is questionable given the
strong competition that will ensure from the key competitors.
Both product development and market expansion appear quite feasibnle
options given Schutlz wines strong capabilities in these areas. Both these
areas are also experiencing strong growth, which improves their feasiblity
rating. Product development as compared with market expansion is a less
risky option for Schutlz wine to undertake in the first instance.
Strategic advantage creation or maintenance

Schultz wines alaready has some factors with have given rise to a stragegic
advantage. The strategy of further market penetration alone will not give
rise to greater strategic advantiage for Schultz; however, if it results in the
achievement of a economic of scale or exapnd distribution channel and
product development, then this would be of strategic advantage. Schultz
wines must continue to innovate in product development and expanding
export and stay one step ahead of its competitors. On this basis, Market
penetration and product development may assist Schutlz in maintaining a
strategic advantage.
However, to create long-term strategic advantage, Schultz really needs to
look to expansion options that ensure strong growth and profitability. On
this basis, expansion of exports to India will provide a good foundation upon
wihich tese targets can be achieved, as will diversification in general.
However, it is vital that the risk attached to such options is carefully
considered by Schultz before embarking on these options. They will
significantly change the underlying business model of Schutlz, increasing the
level of complexity and uncertainty assoicated with revenue streams
generated from new products and markets. In order to successuflly integrate
such expansion into the existing business, Schutlz wines must ensure that
risk management become an essential component of the business planning
cycle, with contingency plans developed to deal with unfavourable outcomes
dhould bey arise.
第 73 頁，共 73 頁

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Module 2 Module 3 Analysis

Module 1 - An introduction to strategy and leadership

Module 2 - Framework for strategic analysis: Analysing the external environment

Module 3 - Framework for strategic analysis: Analysing the internal environment

Module 4 - Formulating a strategy

Module 5 - Implementing Strategy

Module 6 - Leadership and the strategic process

distinct between leadership and management Bass 1.12

business strategy gaps - industry environment 4.05

Definition - strategy Von Clausewitz 1.03

fuzzy strategy Hubbard 3.08

Share of total industry revenue %

Table 2: Growth rate

Australian pharmaceutical and toiletry wholesaling market share

Profit before interest and tax %

Consider the industyr of the organisation

Considering an industry with which you are familiar:

What are the 5Qs of business strategy for your organisation?

Identifying key stakeholders

Assessing strategic capabilities

The origins and importance of strategy 1.03

Approches to strategy 1.05

=> Other perspectives on strategy

Leadership defined 1.11

The strategy process 1.12

Strategic thinking and analysis 1.16

Levels of strategy 1.18

Strategic leadership 1.20

Leadership and ethics 1.26

=> The ethical responsibilities of leaders 1.29

Analysing the external environment 2.03

Defining the industry 2.04

Remote environment analysis 2.06

Industry analysis 2.14

=> Porter's five forces model for industry analysis

- dominated by few co. but sell to many customers

1. New Entrants 2. Buyers

=> Drawing conclusions about industry profitability 2.20

Supplier's Industry Buyers'

Understanding the industry life cycle 2.24

Single Functional Financial Marketing Strategic Strategic

Managemen Managemen Managemen Managemen Industry Organisationa

intuition hope financial marketing competitive

Start-up Growth Control Maturity Shakeout Decline

Industry life cycle

Industry anlaysis for the public sector 2.25

From industry to market analysis 2.28

CPAs and external environment analysis 2.32

Key stakeholders and strategy 3.09

Identifying and analysing corporate strategy: 3.11

=> Corporate strategy and public sector organisations 3.12

Other issues in developing business or corporate strategy 3.13

=> Actual strategy is different from planned strategy

=> From static(靜態的) to dynamic capabilities 3.17

=> Identifying strategic capabilities

Measuring the performance of strategic capabilities 3.21

-> strongly, positively and biased

=> Summary 3.22

Measuring organisational performance 3.23

=> The shakeholder view

Learning and growth perspective Internal business perspective

Comparing performance measures 3.27

=> Getting the information