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Strategy
The tactics: using the army to win the battle. The strategy: using the battles to win the war.
A Definition of Strategy
Strategy is:
the direction and scope of an organisation, over the long term, which achieves advantage for the organisation, through configuration of its resources, within a changing environment, to meet the needs of markets, and to fulfill stakeholder expectations.
Crisis management Strategic management (I really must get around to (I have to do..)
doing)
Tactical management
Traditional approache
Concentrate on the company Built on appraisal of the past achievement of the company Aims to continue of the past trends
The Process View: Competitive Strategy as a Sequence of Steps that may overlap
Tasks :
Competitive & Industry Analysis
Where do we stand ?
Strategy formulation
Where do we want to go ?
BBA_Str1v 10
Strategic analysis
Strategic choice
Strategy implementation
Intended strategy
Realised strategy
Unrealised strategy
Continuity
Incremental
Flux
Transformational
Acquisition
Divestment
Strategies evolve and inform strategic decisions, which in turn consolidate strategic direction
Source: Adapted from P. Grinyer and J.-C. Spender,Turnaround: Managerial recipes for strategic success, Associated Business Press, 1979, p. 203
Tasks :
Competitive & Industry Analysis
("Where do we stand?") What is our business ? How do we create value ? What are our organizational and/or technological capabilities ? Who are we in business with ? How is our business/industry changing ? What drives this change ? What are our strengths and weaknesses ? What opportunities open up, and what threats exist ?
Strategy formulation
("Where do we want to go ?")
BBA_Str1v 20