Professional Documents
Culture Documents
Strategy-what is it?
Hambrick and Fredrickson in a paper in HBR (2001) define strategy as an integrated, overarching concept of how the business will achieve its objectives Strategy outlines the means by which a firm will create unique value for its customers and stakeholders It is the central, integrated, externally oriented concept of how a firm will achieve its objectives
Kenichi Ohmae
Kenichi Ohmae (born February 21, 1943) is one of the world's leading business and corporate strategists. He is known as Mr. Strategy and has developed the 3C's Model. Successful business strategies, he says in "The Mind of the Strategist", do not come from rigorous analysis but from a thought process which is basically creative and intuitive rather than rational. The 3Cs model points out that a strategist should focus on three key factors for success. In the construction of a business strategy, three main players must be taken into account: A. The Corporation B. The Customer C. The Competitors Only by integrating these three Cs (Corporation, Customer, Competitors) in a strategic triangle, a sustained competitive advantage can exist. Ohmae refers to these key factors as the three Cs or strategic triangle.
Igor Ansoff
Igor Ansoff (1918-July 14, 2002) born in Russia was an applied mathematician and business manager. He is known as the father of Strategic management. Ansoff felt that, in developing strategy, it was essential to systematically anticipate future environmental challenges to an organisation, and draw up appropriate strategic plans for responding to these challenges. Ansoff's decision classification became known as Strategy-Structure-Systems, or the 3S model.
Levels of strategy
Corporate Business unit level Functional level
Formulate strategy
Implement
Strategic evaluation
B.Formulate strategy
Perform environment appraisal Organisational appraisal Formulate corporate level strategies Formulate business level strategies Exercising strategic choice Prepare strategic plan
C. Implement
Activate strategies Design structure, systems and processes Manage behavioral implementation Manage functional implementation Operationalise