Strategic Management Series 1 - What Is Strategy?

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Strategic Management Series 1 - What Is Strategy?

  1. 1.
  2. 2. memorize this<br />
  3. 3. hey! who’s that? <br />
  4. 4. hey! what the fcuk are you doing?<br />
  5. 5. That’s your place!<br />
  6. 6. “Strategy is a big-complicated thing and any<br />single definition could be suicidal.”<br />
  7. 7. To understand the meaning behind this most used and even more misused word, one needs to understand the five meanings of strategy.The lesser known 5 P’s<br />
  8. 8. To understand the meaning behind this most used and even more misused word, one needs to understand the five meanings of strategy.The lesser known 5 P’s<br />The lesser known 5 P’s<br />
  9. 9. Five different ways of looking at meaning of strategy<br />
  10. 10. Plan<br />Strategy is a plan of action into future, telling us where we are currently, where do we have to go and what actions in a particular order we have to take to reach there.<br />
  11. 11. Pattern<br />Strategy is a pattern, a sort of consistency in the behavior over time. <br />I don’t know – it just fell out of my bum.<br />What is it?<br />
  12. 12. Both are valid definitionsorganizations make plans for futureand they also evolve patterns out of their pastOne can be called intended strategy and the other realized strategy.<br />
  13. 13. Both are valid definitionsorganizations make plans for futureand they also evolve patterns out of their pastOne can be called intended strategy and the other realized strategy.<br />
  14. 14. Both are valid definitionsorganizations make plans for futureand they also evolve patterns out of their pastOne can be called intended strategy and the other realized strategy.<br />
  15. 15. Both are valid definitionsorganizations make plans for futureand they also evolve patterns out of their pastOne can be called intended strategy and the other realized strategy.<br />This will be great.<br />This was great.<br />
  16. 16. Both are valid definitionsorganizations make plans for futureand they also evolve patterns out of their pastOne can be called intended strategy and the other realized strategy.<br />Ideally a mix is followed. Some thinking ahead and some on the way learning-and-adaptations.<br />This will be great.<br />This was great.<br />
  17. 17. One’s strategy mix should depend upon one’s ability to predict unexpected events…<br />Oh so, there’ll be floods on 28th.<br />Our office is on ground floor<br />Let’s move to top floor!<br />
  18. 18. One’s strategy mix should depend upon one’s ability to predict unexpected events……and need to react to unexpected events.<br />Oh so, there might be floods on 28th.<br />Our office is on top floor<br />So floods don’t matter!<br />
  19. 19. One’s strategy mix should depend upon one’s ability to predict unexpected events……and need to react to unexpected events.One extreme means no learning…<br />Keep doing the same old tried but tested things!<br />Rigid Strategy<br />
  20. 20. One’s strategy mix should depend upon one’s ability to predict unexpected events……and need to react to unexpected events.One extreme means no learning……other means no control.<br />Business is a fun chemistry lab, but things explode at times!<br />No Strategy<br />
  21. 21. One’s strategy mix should depend upon one’s ability to predict unexpected events……and need to react to unexpected events.One extreme means no learning……other means no control.To put it differently, it should depend upon how much does one want to learn on the way and how much control does one wants to exercise.<br />
  22. 22. Position<br />Another way of looking at strategy is thinking of it as a position of some advantage. It’s about creation of a valuable and unique position.<br />‘Position’ is downward and outward looking.<br />
  23. 23. Perspective<br />Delight customers<br />Invest in R&D<br />Entrepreneurial culture<br />Fast<br />Cost cutting<br />Social responsibility<br />Perspective is a organization’s fundamental way of doing things, like, the McDonald’s way, the Tata way or the Google way.<br />It can be seen as a set of values, priorities, beliefs, behaviors,<br />attitudes, actions and responses.<br />‘Perspective’ is upward and inward looking.<br />
  24. 24. Again, both are valid definitions and a mix of both is required.<br />
  25. 25. Changing of position within a perspective may be easy…<br />Change Within Perspective<br />
  26. 26. Changing of position within a perspective may be easy……whereas changing position while trying to maintain perspective is not<br />Change Outside Perspective<br />
  27. 27. Changing of position within a perspective may be easy……whereas changing position while trying to maintain perspective is not<br />Google launching a printed directory is still imaginable…<br />Google Printed Directory<br />
  28. 28. Changing of position within a perspective may be easy……whereas changing position while trying to maintain perspective is not<br />Google launching a printed directory is still imaginable…<br />…but imagine Google launching a restaurant!<br />Google Restaurant<br />
  29. 29. Ploy<br />Ploy is a specific trick intended to outwit an opponent or competitor.<br />Its like playing mind games to confuse the competitor.<br />A company might buy land to give the impression that it intends to expand its capacity, in order to discourage a competitor from building a new plant<br />
  30. 30. to strategize or not to strategize?<br />
  31. 31. “Strategy sets direction”<br />On one hand we know the path required to reach from one point to another.<br />
  32. 32. “Strategy sets direction”<br />On one hand we know the path required to reach from one point to another.<br />On other hand it turns us blind to the unpredicted dangers on the path.<br />
  33. 33. “Strategy focuses effort” <br />On one hand strategy helps in focusing everyone’s effort to the same direction.<br />
  34. 34. “Strategy focuses effort” <br />On one hand strategy helps in focusing everyone’s effort to the same direction.<br />On other hand “Groupthink” arises and opportunities and threats may get unnoticed.<br />
  35. 35. “Strategy defines the organization”<br />On one hand strategy provides a sharp and single meaning to organization.<br />This piece of paper says exactly who we are and what we do.<br />
  36. 36. “Strategy defines the organization”<br />On one hand strategy provides a sharp and single meaning to organization.<br />On other hand that sharp and single meaning could be too simple that rich complexity may get lost.<br />Uhhh! So what exactly rest of the papers on the table do?<br />This piece of paper says exactly who we are and what we do.<br />
  37. 37. “Strategy provides consistency”<br />On one hand strategy reduces ambiguity and brings consistency in action and results.<br />
  38. 38. “Strategy provides consistency”<br />On one hand strategy reduces ambiguity and brings consistency in action and results.<br />On other hand it curbs creativity and perfection over time.<br />
  39. 39. To understand<br />when and when not to strategize,<br />how much and how less to strategize<br />and<br />how and how not to strategize<br />is the key.<br />Prof. ThinKu Pandit<br />PhD. Strategic Blah-Blah<br />

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