Strategic management practices @ MBA

1. Strategic Management in Practice

3. Exhibit 2.2 Patterns of strategy development Continuity Incremental Flux Transformational

4. Exhibit 2.3 Strategic evolution and consolidation . Product launch Acquisition Divestment Overseas expansion Strategies evolve and inform strategic decisions, which in turn consolidate strategic direction Evolving strategic direction Strategic decisions e.g.

5. Exhibit 2.4 Strategy development routes Unrealised strategy Intended strategy 3 5 Planned implementation 1 2 5 Realised strategy Strategy as outcome (of cultural and political processes) Imposed strategy 4

6. Exhibit 2.7 The role of the paradigm in strategy formulation Opportunities and threats Strengths and weaknesses Performance Environmental forces Organisational capabilities THE PARADIGM Strategy

13. Exhibit 2.6 Cultural frames of reference Functional/ divisional Organisational Professional (or institutional) National (or regional) Industrial/ sector (recipe) The individual

15. Exhibit 2.5 Incremental change Environmental change Incremental strategic change Time Amount of change

17. Exhibit 2.8 Phases of strategic decision making Issue awareness Selection of solutions Solution development Issue formulation

18. Exhibit 2.10 The cultural web Control systems Stories Symbols Rituals and routines The Paradigm Power structures Organisational structures

19. Exhibit 2.11 The dynamics of paradigm change Source: Adapted from P. Grinyer and J-C. Spender, Turnaround: Managerial recipes for strategic success , Associated Business Press, 1979, p. 203 The paradigm Development of strategy Implementation Corporate performance Step 1 Tighter control Step 2 Reconstruct or develop new strategy if unsatisfactory Step 3 Abandon paradigm and adopt a new one

20. Exhibit 2.13 Different approaches to strategic management Strategic Strategic intent Planning Incremental Encouraging ‘intrapreneurship’ Simple ‘Product’ Complex Product Unpredictable environment Predictable environment

21. Exhibit 2.12 The risk of strategic drift Time Amount of change Phase 1 Phase 2 Phase 3/4 Incremental change Flux Transformational change or demise Strategic change Environmental change 1 5 2 3 4