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This book challenges the universal applicability of strategic management concepts. It argues that it is necessary to pay attention to contextual facets of the environment, in particular to societal culture. It also depicts the current planning situation in the banking industry. The culture-boundness of strategy formulation and implementation is challenged and advocated trough discussing planning systems, processes, and heuristics, and contextual influences both an a theoretical basis and with empirical research. The book is based an my doctoral dissertation, which was completed at the Marketing and Banking Departments of the Vienna University of Economics under the auspices of Fritz Scheuch and Gustav Raab. Their teaching, constructive criticism, and encouragement provided the intellectual stimulation for bringing this dissertation to completion. This applies equally to several professors at the University of Illinois at Urbana-Champaign. Harry Triandis and Anant Negandhi introduced me to cross-cultural research and inter national management. Howard Themas, Marjorie Lyles, and Irene Duhaime helped me to crystallize thoughts. Hanns-Martin Schönfeld, Seymour Sudman and Gerald Salancik challenged my thoughts about organizational behavior and methodology. Richard Watson, Univer sity of Georgia, and Louis Flores of Northern Illinois University were very helpful in providing address material for Australia and Latin America, as well as through assistance with translations. Norihiro Suzuki of Int'l Christian University, Tokyo, and Hiro Matsusaki of Tokyo University helped with Japanese translations.
You think you have a winning strategy. But do you? Executives are bombarded with bestselling ideas and best practices for achieving competitive advantage, but many of these ideas and practices contradict each other. Should you aim to be big or fast? Should you create a blue ocean, be adaptive, play to win—or forget about a sustainable competitive advantage altogether? In a business environment that is changing faster and becoming more uncertain and complex almost by the day, it’s never been more important—or more difficult—to choose the right approach to strategy. In this book, The Boston Consulting Group’s Martin Reeves, Knut Haanæs, and Janmejaya Sinha offer a proven method to determine the strategy approach that is best for your company. They start by helping you assess your business environment—how unpredictable it is, how much power you have to change it, and how harsh it is—a critical component of getting strategy right. They show how existing strategy approaches sort into five categories—Be Big, Be Fast, Be First, Be the Orchestrator, or simply Be Viable—depending on the extent of predictability, malleability, and harshness. In-depth explanations of each of these approaches will provide critical insight to help you match your approach to strategy to your environment, determine when and how to execute each one, and avoid a potentially fatal mismatch. Addressing your most pressing strategic challenges, you’ll be able to answer questions such as: • What replaces planning when the annual cycle is obsolete? • When can we—and when should we—shape the game to our advantage? • How do we simultaneously implement different strategic approaches for different business units? • How do we manage the inherent contradictions in formulating and executing different strategies across multiple businesses and geographies? Until now, no book brings it all together and offers a practical tool for understanding which strategic approach to apply. Get started today.
This seminal work examines the role of formal planning systems in corporate strategy formulation and implementation. Edited by Peter Lorange and based on the 1981 Pittsburgh conference on business policy and planning research, this book offers a wealth of insights into the complex world of corporate strategy. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
When John Kay's Foundations of Corporate Success first appeared in the U.K., it commanded the attention of the corporate world--and drew widespread praise. The Financial Times hailed it as "a powerfully argued book, which casts a fresh light on a range of practical business challenges." And Business Age wrote, "You must read John Kay's new book Foundations of Corporate Success. Kay is currently the best management theorist in Britain, bar none.... He is a rare find." Now John Kay has produced an American edition of this landmark book. In this freshly revised volume, Kay applies his groundbreaking theories to the U.S. experience, illustrating them with examples of success and failure in the American market. For too long, he writes, managers have chased after the latest fad in business planning and strategy, beguiled by military analogies and the demand for overarching vision. Success, he believes, should not be measured by organizational size or market share, but by the added value--the amount that output exceeds the input of raw materials, payroll, and capital. Corporate strategy should be aimed at this basic goal, beginning with the question, "How can we be different?" Kay identifies four key ingredients: innovation, reputation (especially in the form of brands), strategic assets (government mandated monopolies or other measures which restrict market access by competitors), and architecture (the relationships between a company and its employees, suppliers, and customers). Success comes not when managers drive through a towering vision of the company's destiny, but when they act on their organization's specific capabilities and advantages--especially in the key area of architecture. Honda, he notes, captured a third of the American motorcycle market within five years. No vision was required for this success, he writes: Honda simply did what it did best (making a simple, inexpensive product), followed by careful attention to the architecture of its business ties to distributors, customers, etc. He ranges through industries from airlines to retail clothing, pointing out the reasons for successes and failures. Kay also draws on game theory to underscore the importance of stable, long-term relationships. Other writers have hit upon some of these points, the Financial Times noted: "But none has explored them as thoroughly as Kay, who succeeds in marrying an authoritative grasp of economic, legal, and sociological theory with an impressively detailed knowledge of contemporary business practice." This volume transforms Kay's theoretical and practical knowledge into a powerful tool for today's American business manager.
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Previous research focused either on the relationship between strategic planning and performance or coordination mechanisms and performance. Therefore, a conceptually and empirically validated understanding of the interaction between these three factors is limited. This study addresses this gap in the literature by delivering three contributions to theory and empirical research: firstly, by clarifying and proposing the influences of strategic planning and strategic organization on the performance; secondly, by developing a model and associated hypotheses on both direct and interaction effects of strategic planning and coordination mechanisms; and thirdly, by testing the hypotheses. Findings regarding strategic planning suggest the coexistence of formal and informal strategic planning activities. Furthermore, results show that the relationship between strategic planning and performance is moderated by coordination mechanisms.
Engineers, corporate managers, project managers, and production managers will use Manufacturing Management to answer important planning questions, manage new systems and technologies, and to integrate design, engineering, and manufacturing to bring products to market faster at the most competitive cost. Volume 5 also helps you focus on management' s role in quality programs such as setting objectives, monitoring outcomes, and how to make continuous quality improvements while reducing quality costs.