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Implement strategies
Develop Strategies
Evaluate strategies Feedback
Legend:Flow of decision making
Flow of feedback
Set goals, targets
Formulate a mission
Analyse the firm
S W
Analyse the
environment O T
A Textbook Model Strategic Management
Competitive position
Asset utilization
Markets addressed
Leadership
The Strategy Compass:Concentric Discussion
A balance between
The long term strategy: non-explicit and verbal:
Strategies for Successfully Raising Children
•Social success
•Professional success
•Personal success
•Academic success
Shorter-term strategies: explicit and measured:
•Sports competitions etc
•School examinations
Shorter term measured tasks in context of appropriate innate strategic principles
Strategies for Successfully Raising Children
Personal
Professional Academic
Time (Years)
Social
= Examinations, shorter run
E
E
E E
E
E
E
E
Shorter term measured tasks in context of appropriate unchanging laws of strategy
(CALM)
Strategies for Successfully Developing Firms
Leadership
Markets Asset
Time (Years)
Competitive
= Shorter run strategic plans
Individual products or projects are less important than
adhering to the innate strategic principles
Innate strategic principles in which shorter run strategies are always set
Habitually Successful Firms
‘We don’t make ‘automobiles’ which are utilitarian machines you use to get from point A to point B. We make ‘cars’, moving works
of art that express the driver’s love of quality.’
Bangle, C. (2001)
Innate Strategic Principles: BMW
‘The Toyota Production System grew out of the workings of the company
over 50 years and it has never actually been written down.’
Spear, S. and Bowen, H. K., (1999)
Innate Strategic Principles: Toyota
• Oral tradition versus written word
• The Strategy Compass: a template for discussion
(Network Rail vesus GE)
The ‘Shape’ of a Strategic Plan
Stage 1: Articulate the strategic principles
Stage 2: Develop the shorter run strategic plan
A Two Stage Approach
Strategy Compass to describe in words, not figures, our posture in terms of:
Competitive position
Asset utilisation
Leadership
Markets addressed
Stage 1: Articulate the Principles