From The Art of War to The War for Talent, strategy has been evolving for centuries. What we have learned in the past 2,500 years is highlighted here—not only where strategy began but also why it is on the verge of reclaiming its rightful place in history.
Strategy, for most of its 2,500-year history, was one-dimensional. Warmongers were largely focused on avoiding wars by not instigating them and business was mostly focused on building power and monopolies. The past 50 years have more than made up for this one-way view as strategy hit its prime and spewed out countless new ideas and solutions.
But as the strategies piled up so did the complexity, and the chance that any one overall strategy was the answer to ever expanding strategic freedom was trampled in the competitive scramble.
As a result, we are in for some interesting times. Strategy is on the verge of reinventing itself and reclaiming its rightful place at the top of the business food chain. We believe that strategy will come back as a much more powerful guiding force of organizational energy, which we are excited about because it brings "strategy" and "doing" back together again—something we wholeheartedly believe in.
This paper constructs a brief history of strategy within a framework of noteworthy publications. We generalize, simplify, and cut corners, not out of ignorance but to create a holistic overview to show where strategy has been and where we believe it is now headed.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/the-history-of-strategy-and-its-future-prospects/10192#sthash.3JIQGHKj.dpuf
Complete Business Frameworks Toolkit - Strategy, Marketing, Operations, Consu...Flevy.com Best Practices
Download this primer now from slideshare.
Full version here:
https://flevy.com/browse/business-document/complete-consulting-frameworks-toolkit-644
This is a very comprehensive document with over 350+ slides--covering 51 common management consulting frameworks and methodologies (listed below in alphabetical order). A detailed summary is provided for each business framework. The frameworks in this deck span across Corporate Strategy, Sales, Marketing, Operations, Organization, Change Management, and Finance.
These frameworks and templates are the same used by top tier consulting firms. With this comprehensive document in your back pocket, you can find a way to address just about any problem that can arise in your organization.
The level of detail varies by framework, depending on the nature of the management model. Examples, templates, and case studies are provided.
FULL LIST OF MANAGEMENT CONSULTING FRAMEWORKS & METHODOLOGIES:
1. ABC Analysis
2. Adoption Cycle ( Consumer Adoption Curve)
3. Ansoff Market Strategies
4. Balanced Scorecard
5. BCG Growth-Share Matrix
6. Benchmarking
7. Blue Ocean Strategy
8. Break-even Analysis
9. Business Unit Profitability
10. Economics of Scale
11. Environmental Analysis
12. Experience Curve
13. Cluster Analysis
14. Company & Competitor Analysis
15. Consumer Decision Journey ( McKinsey Consumer Decision Journey)
16. Core Competence Analysis
17. Cost Structure Analysis
18. Customer Experience
19. Customer Satisfaction Analysis
20. Customer Value Proposition
21. Fiaccabrino Selection Process
22. Financial Ratios Analysis
23. Gap Analysis
24. Industry Attractiveness & Business Strength Assessment
25. Key Purchase Criteria
26. Key Success Factors (KSF)
27. Market Sizing & Share
28. McKinsey 7-S
29. Net Present Value
30. PEST Analysis
31. Porter Competition Strategies
32. Porter's Five Forces
33. Portfolio Strategies
34. Price Elasticity
35. Product Life Cycle
36. Product Substitution
37. Relative Cost Positioning
38. Rogers' Five Factors
39. Scenario Techniques
40. Scoring Models
41. Segment Attractiveness
42. Segmentation & Targeting
43. Six Thinking Hats
44. Stakeholder Analysis
45. Strengths & Weaknesses Analysis
46. Structure-Conduct-Performance (SCP)
47. SWOT Analysis
48. SWOT Strategies
49. Treacy / Wiersema Market Positioning
50. Value Chain Analysis
51. Venkat Matrix
The History of Strategy and Its Future Prospects | A.T. KearneyKearney
For too many years, companies have been hobbled by the vicious cycle of busy thinking, frenetic activity, bureaucratic planning, and other hallmarks of corporate strategies. Research confirms the negative effects these conditions have on strategic output. Recognizing that new thinking was needed to reclaim strategy, A.T. Kearney set out to write the next chapter and set a new course for the future of strategy.
A.T. Kearney’s FutureProof Strategy offers a solution for organizations facing profound strategic challenges. Based on the combination of three fundamental principles—drawing inspiration from the future, being organizationally inclusive, and creating a portfolio of competitive opportunities—a new future for strategy has been written.
Modeling Dynamic Capabilities and Corporate Entrepreneurship for Innovation ...Ruta Aidis
With limited resources and the need for constant innovation, entrepreneurship is perceived as an important factor for assuring economic growth and development at the venture and national levels. In this conceptual paper, we focus our analysis to corporate entrepreneurship as it contributes to the innovative processes within a venture. Though corporate entrepreneurship is a quite well explored phenomenon, few efforts have been made to elaborate on the antecedents and cohesion between dynamic capabilities and corporate entrepreneurship especially for high growth economies. This paper aims to explore the role of the dynamic capabilities as the antecedent of corporate entrepreneurship and the nature of the cohesion between them. The authors model the cohesion between dynamic capabilities and corporate entrepreneurship and argue that it generates business innovations that in turn generate aggregate demand and growth of the economy.
Management consultant toolkit in Powerpoint & Excel created by ex-Deloitte & McKinsey Consultants. Huge time saver.
Download the toolkit at www.slidebooks.com
Visit https://www.stratechi.com/market-analysis-example/ to download the 113-page Market & Competitive Analysis PowerPoint template created by an Ex-McKinsey consultant. The deck has storylines, charts, frameworks, analyses, initiatives, editable slides, and professional graphics and icons covering market, industry, competitive, geographic, segmentation, and customer analysis. Includes important market & competitive analysis slides such as Porter’s Five Forces, BCG matrix, SWOT analysis, adoption curves, ANSOFF matrix, competitive frameworks, company profiles, product comparison charts, market segmentation analysis, buyer personas, customer segmentations, market maps, global and regional analysis, decision matrices, market growth charts, market share charts, worksheets, examples, 500+ icons, and much more.
Business Strategy Presentation Template 2023 - By ex-Mckinsey and BCG consult...Slideworks
A comprehensive, end-to-end strategy presentation template based on proven frameworks created by ex-McKinsey and BCG consultants.
277 PowerPoint slides organized in a complete storyline with best-practice slide-layouts, titles, and graphics
4 real-life full-length examples from Fortune500 companies so you can see how a strategy is presented in other organizations
Helpful checklist used in top-tier consulting firms
Excel model to support your strategy document.
Access full powerpoint at www.slideworks.io.
Complete Business Frameworks Toolkit - Strategy, Marketing, Operations, Consu...Flevy.com Best Practices
Download this primer now from slideshare.
Full version here:
https://flevy.com/browse/business-document/complete-consulting-frameworks-toolkit-644
This is a very comprehensive document with over 350+ slides--covering 51 common management consulting frameworks and methodologies (listed below in alphabetical order). A detailed summary is provided for each business framework. The frameworks in this deck span across Corporate Strategy, Sales, Marketing, Operations, Organization, Change Management, and Finance.
These frameworks and templates are the same used by top tier consulting firms. With this comprehensive document in your back pocket, you can find a way to address just about any problem that can arise in your organization.
The level of detail varies by framework, depending on the nature of the management model. Examples, templates, and case studies are provided.
FULL LIST OF MANAGEMENT CONSULTING FRAMEWORKS & METHODOLOGIES:
1. ABC Analysis
2. Adoption Cycle ( Consumer Adoption Curve)
3. Ansoff Market Strategies
4. Balanced Scorecard
5. BCG Growth-Share Matrix
6. Benchmarking
7. Blue Ocean Strategy
8. Break-even Analysis
9. Business Unit Profitability
10. Economics of Scale
11. Environmental Analysis
12. Experience Curve
13. Cluster Analysis
14. Company & Competitor Analysis
15. Consumer Decision Journey ( McKinsey Consumer Decision Journey)
16. Core Competence Analysis
17. Cost Structure Analysis
18. Customer Experience
19. Customer Satisfaction Analysis
20. Customer Value Proposition
21. Fiaccabrino Selection Process
22. Financial Ratios Analysis
23. Gap Analysis
24. Industry Attractiveness & Business Strength Assessment
25. Key Purchase Criteria
26. Key Success Factors (KSF)
27. Market Sizing & Share
28. McKinsey 7-S
29. Net Present Value
30. PEST Analysis
31. Porter Competition Strategies
32. Porter's Five Forces
33. Portfolio Strategies
34. Price Elasticity
35. Product Life Cycle
36. Product Substitution
37. Relative Cost Positioning
38. Rogers' Five Factors
39. Scenario Techniques
40. Scoring Models
41. Segment Attractiveness
42. Segmentation & Targeting
43. Six Thinking Hats
44. Stakeholder Analysis
45. Strengths & Weaknesses Analysis
46. Structure-Conduct-Performance (SCP)
47. SWOT Analysis
48. SWOT Strategies
49. Treacy / Wiersema Market Positioning
50. Value Chain Analysis
51. Venkat Matrix
The History of Strategy and Its Future Prospects | A.T. KearneyKearney
For too many years, companies have been hobbled by the vicious cycle of busy thinking, frenetic activity, bureaucratic planning, and other hallmarks of corporate strategies. Research confirms the negative effects these conditions have on strategic output. Recognizing that new thinking was needed to reclaim strategy, A.T. Kearney set out to write the next chapter and set a new course for the future of strategy.
A.T. Kearney’s FutureProof Strategy offers a solution for organizations facing profound strategic challenges. Based on the combination of three fundamental principles—drawing inspiration from the future, being organizationally inclusive, and creating a portfolio of competitive opportunities—a new future for strategy has been written.
Modeling Dynamic Capabilities and Corporate Entrepreneurship for Innovation ...Ruta Aidis
With limited resources and the need for constant innovation, entrepreneurship is perceived as an important factor for assuring economic growth and development at the venture and national levels. In this conceptual paper, we focus our analysis to corporate entrepreneurship as it contributes to the innovative processes within a venture. Though corporate entrepreneurship is a quite well explored phenomenon, few efforts have been made to elaborate on the antecedents and cohesion between dynamic capabilities and corporate entrepreneurship especially for high growth economies. This paper aims to explore the role of the dynamic capabilities as the antecedent of corporate entrepreneurship and the nature of the cohesion between them. The authors model the cohesion between dynamic capabilities and corporate entrepreneurship and argue that it generates business innovations that in turn generate aggregate demand and growth of the economy.
Management consultant toolkit in Powerpoint & Excel created by ex-Deloitte & McKinsey Consultants. Huge time saver.
Download the toolkit at www.slidebooks.com
Visit https://www.stratechi.com/market-analysis-example/ to download the 113-page Market & Competitive Analysis PowerPoint template created by an Ex-McKinsey consultant. The deck has storylines, charts, frameworks, analyses, initiatives, editable slides, and professional graphics and icons covering market, industry, competitive, geographic, segmentation, and customer analysis. Includes important market & competitive analysis slides such as Porter’s Five Forces, BCG matrix, SWOT analysis, adoption curves, ANSOFF matrix, competitive frameworks, company profiles, product comparison charts, market segmentation analysis, buyer personas, customer segmentations, market maps, global and regional analysis, decision matrices, market growth charts, market share charts, worksheets, examples, 500+ icons, and much more.
Business Strategy Presentation Template 2023 - By ex-Mckinsey and BCG consult...Slideworks
A comprehensive, end-to-end strategy presentation template based on proven frameworks created by ex-McKinsey and BCG consultants.
277 PowerPoint slides organized in a complete storyline with best-practice slide-layouts, titles, and graphics
4 real-life full-length examples from Fortune500 companies so you can see how a strategy is presented in other organizations
Helpful checklist used in top-tier consulting firms
Excel model to support your strategy document.
Access full powerpoint at www.slideworks.io.
Post Merger Integration Toolkit - Framework, Best Practices and TemplatesAurelien Domont, MBA
This Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 2000 hours of work. It is considered the world's best & most comprehensive Post Merger Integration Toolkit. It includes all the Frameworks, Tools & Templates required to increase the value creation of your Mergers & Acquisitions. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit in Powerpoint and Excel at www.slidebooks.com
This Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants after more than 3,000 hours of work. It shares our combined 100+ years of experience advising executive teams around the world. It includes all the Frameworks, Best Practices & Templates required to successfully implement an operating model and organization design initiative, and make your strategy happen.
Strategic Operating Model Defines How a Company Looks and Works. This document gives a good overview of the the various aspects of the concept including:
1. Understand the Linkage Between Strategy and an Operating Model.
2. Recognize the Key Components of a Company’s Operating Model.
3. Familiarize Use of Operating Models to Make Comparisons Across Companies.
Target Operating Model Strategy Management Governance Organization Leadership...SlideTeam
This complete deck covers various topics and highlights important concepts. It has PPT slides which cater to your business needs. This complete deck presentation emphasizes Target Operating Model Strategy Management Governance Organization Leadership Instruments Processes and has templates with professional background images and relevant content. This deck consists of total of twelve slides. Our designers have created customizable templates, keeping your convenience in mind. You can edit the colour, text and font size with ease. Not just this, you can also add or delete the content if needed. Get access to this fully editable complete presentation by clicking the download button below. https://bit.ly/3h3vNxn
Go to www.slidebooks.com to access the editable version in Powerpoint and Excel of this Management Consultant Toolkit created by former management consultants from Deloitte and McKinsey.
Management Consulting Toolkit - Framework, Best Practices and TemplatesAurelien Domont, MBA
This Toolkit was created by ex-McKinsey, Deloitte & BCG Consultants, after 2,000+ hours of work. It is considered the world's best & most comprehensive Management Consulting Toolkit. It includes all the Frameworks, Tools & Document Templates required to improve the Management Consulting Capability of your organization & excel as a Management Consultant. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit at www.slidebooks.com
A presentation for subject MGMT90148 (Consulting Fundamentals) at Melbourne Business School.
Designed as an engaging look at strategic alliances as a tool in business. Highlights its application, effectiveness and a guide for what successful strategic alliances entail in the corporate world.
Value analysis with Value Stream and Capability modelingCOMPETENSIS
The new Archimate 3.1 has improved the strategy layer with major modeling objects related to value analysis: value stream and capability.
These objects are linked and answer major questions :
- [VALUE STREAM] What value do we deliver to customers ? What value do we want to deliver to customers ? This is the enterprise business model.
- [CAPABILITY] What operational model do we need to deliver value ? The capability model describes the operational model required to deliver value to customers.
You cannot succeed to transform a business model, enterprise activities without considering Value Stream & Capability analysis. Technology considerations are necessary but not sufficient.
Feel free to contact if you wish to get more support with your transformation projet.
This Toolkit was created after 1,100+ hours of work by ex-McKinsey, Deloitte & BCG Consultants specialized in Project Management. It is considered the world's best & most comprehensive Project Management Toolkit. It includes all the Frameworks, Tools & Templates required to improve the Project Management Capability of your organization & excel as a Project Manager. Powerpoint and Excel version Downloadable at www.slidebooks.com
A.T. Kearney reached out to more than 2,000 executives, business leaders, and heads of strategy functions to discuss their thoughts on the state of strategy today. Our findings indicate that while most leaders continue to believe in strategy, the return on their strategy initiatives has largely eroded over the past decade. In fact, when asked what it takes to secure a prosperous future, more than 80 percent of executives consider agility as important or more important than strategy when it comes to securing a prosperous future. Fortunately, the findings also point to promising ways to reclaim strategy—including using future-focused tools and techniques and engaging the organization in strategy formulation.
Strategic Planning Toolkit - Framework, Best Practices and TemplatesAurelien Domont, MBA
This Strategic Planning Toolkit was created by ex-McKinsey, Deloitte and BCG Strategy Consultants, after more than 2,000 hours of work. It is considered the world's best & most comprehensive Strategic Planning Toolkit. It includes all the Frameworks, Analysis Tools & Document Templates required to improve your Strategic Planning capability, and become the subject matter expert of your organization. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit in Powerpoint and Excel at www.slidebooks.com
COMPETITIVE Books by Michael E. Porter The Com.docxmccormicknadine86
COMPETITIVE
Books by Michael E. Porter
The Competitive Advantage of Nations ( 1990)
Competitive Advantage: Creating and Sustaining Superior
Pe$ormance (1985)
Cases in Competitive Strategy (1982)
Competition in the Open Economy (with R.E. Caves
and A.M. Spence) (1 980)
Interbrand Choice, Strategy and Bilateral Market Power ( 1 976)
COMPETITIVE
STRATEGY
Techniques for Analyzing
Industries and
Competitors
With a new Introduction
Michael E. Porter
THE FREE PRESS
THE FREE PRESS
A Division of Simon & Schuster Inc
1230 Avenue of the Americas
New York, NY 10020
Copyright O 1980 by The Free Press
New introduction copyright O 1998 by The Free Press
All rights reserved,
including the right of reproduction
in whole or in part in any form.
First Free Press Edition 1980
THE FREE PRESS and colophon are trademarks
of Simon & Schuster Inc.
Manufactured in the United States of America
62 61 60
Library of Congress Cataloging-in-Publication Data
Porter, Michael E.
Competitive strategy: techniques for analyzing industries and
competitors: with a new introduction1 Michael E. Porter.
p. cm. ..
Originallypublished: New York: Free Press, c I980
Includes bibliographical references and index.
I. Competition. 2. Industrial management. I. Title.
HD4 1 .P67 1998
6 5 8 d c 2 1 98-9580
CIP
ISBN 0-684-84148-7
Contents
Introduction
Preface
Introduction, 1980
xvii
xxi
PART I General Analytical Techniques
CHAPTER 1 THE STRUCTURAL ANALYSIS OF INDUSTRIES 3
Structural Determinants of the
Intensity of Competition 5
Structural Analysis and
Competitive Strategy 29
Structural Analysis and
lndustry Definition 32
CHAPTER 2 GENERIC COMPETITIVE STRATEGIES 34
Three Generic Strategies 35
Stuck in the Middle 41
Risks of the Generic Strategies 44
CHAPTER 3 A FRAMEWORK FOR COMPETITOR ANALYSIS 47
The Components of Competitor
Analysis 49
Putting the Four Components
Together-The Competitor
Response Profile 67
Competitor Analysis and
Industry Forecasting 71
The Need for a Competitor
Intelligence System 71
v i CONTENTS
CHAPTER 4 MARKET SIGNALS 75
Types of Market Signals 76
The Use of History in Identifying
Signals 86
Can Attention to Market Signals
Be a Distraction? 87
lndustry Instability: The Likelihood
of Competitive Warfare 89
CompetitiveMoves 91
Commitment 100
Focal Points 105
A Note on Information and Secrecy 106
CHAPTER 6 STRATEGY TOWARD BUYERS AND SUPPLIERS 108
Buyer Selection 108
Purchasing Strategy 122
Dimensions of Competitive Strategy 127
Strategic Groups 129
Strategic Groups and a Firm's
Profitability 142
Implications for Formulation
of Strategy 149
The Strategic Group Map as an
Analytical Tool 152
Basic Concepts in lndustry
Evolution 157
Evolutionary Processes 163
Key Relationships in lndustry
Evolution 184
PART I1 Generic Industry Environments
What Makes an lndustry
Fragmented? 196
Contents vii
Overcoming Fragm ...
Post Merger Integration Toolkit - Framework, Best Practices and TemplatesAurelien Domont, MBA
This Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 2000 hours of work. It is considered the world's best & most comprehensive Post Merger Integration Toolkit. It includes all the Frameworks, Tools & Templates required to increase the value creation of your Mergers & Acquisitions. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit in Powerpoint and Excel at www.slidebooks.com
This Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants after more than 3,000 hours of work. It shares our combined 100+ years of experience advising executive teams around the world. It includes all the Frameworks, Best Practices & Templates required to successfully implement an operating model and organization design initiative, and make your strategy happen.
Strategic Operating Model Defines How a Company Looks and Works. This document gives a good overview of the the various aspects of the concept including:
1. Understand the Linkage Between Strategy and an Operating Model.
2. Recognize the Key Components of a Company’s Operating Model.
3. Familiarize Use of Operating Models to Make Comparisons Across Companies.
Target Operating Model Strategy Management Governance Organization Leadership...SlideTeam
This complete deck covers various topics and highlights important concepts. It has PPT slides which cater to your business needs. This complete deck presentation emphasizes Target Operating Model Strategy Management Governance Organization Leadership Instruments Processes and has templates with professional background images and relevant content. This deck consists of total of twelve slides. Our designers have created customizable templates, keeping your convenience in mind. You can edit the colour, text and font size with ease. Not just this, you can also add or delete the content if needed. Get access to this fully editable complete presentation by clicking the download button below. https://bit.ly/3h3vNxn
Go to www.slidebooks.com to access the editable version in Powerpoint and Excel of this Management Consultant Toolkit created by former management consultants from Deloitte and McKinsey.
Management Consulting Toolkit - Framework, Best Practices and TemplatesAurelien Domont, MBA
This Toolkit was created by ex-McKinsey, Deloitte & BCG Consultants, after 2,000+ hours of work. It is considered the world's best & most comprehensive Management Consulting Toolkit. It includes all the Frameworks, Tools & Document Templates required to improve the Management Consulting Capability of your organization & excel as a Management Consultant. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit at www.slidebooks.com
A presentation for subject MGMT90148 (Consulting Fundamentals) at Melbourne Business School.
Designed as an engaging look at strategic alliances as a tool in business. Highlights its application, effectiveness and a guide for what successful strategic alliances entail in the corporate world.
Value analysis with Value Stream and Capability modelingCOMPETENSIS
The new Archimate 3.1 has improved the strategy layer with major modeling objects related to value analysis: value stream and capability.
These objects are linked and answer major questions :
- [VALUE STREAM] What value do we deliver to customers ? What value do we want to deliver to customers ? This is the enterprise business model.
- [CAPABILITY] What operational model do we need to deliver value ? The capability model describes the operational model required to deliver value to customers.
You cannot succeed to transform a business model, enterprise activities without considering Value Stream & Capability analysis. Technology considerations are necessary but not sufficient.
Feel free to contact if you wish to get more support with your transformation projet.
This Toolkit was created after 1,100+ hours of work by ex-McKinsey, Deloitte & BCG Consultants specialized in Project Management. It is considered the world's best & most comprehensive Project Management Toolkit. It includes all the Frameworks, Tools & Templates required to improve the Project Management Capability of your organization & excel as a Project Manager. Powerpoint and Excel version Downloadable at www.slidebooks.com
A.T. Kearney reached out to more than 2,000 executives, business leaders, and heads of strategy functions to discuss their thoughts on the state of strategy today. Our findings indicate that while most leaders continue to believe in strategy, the return on their strategy initiatives has largely eroded over the past decade. In fact, when asked what it takes to secure a prosperous future, more than 80 percent of executives consider agility as important or more important than strategy when it comes to securing a prosperous future. Fortunately, the findings also point to promising ways to reclaim strategy—including using future-focused tools and techniques and engaging the organization in strategy formulation.
Strategic Planning Toolkit - Framework, Best Practices and TemplatesAurelien Domont, MBA
This Strategic Planning Toolkit was created by ex-McKinsey, Deloitte and BCG Strategy Consultants, after more than 2,000 hours of work. It is considered the world's best & most comprehensive Strategic Planning Toolkit. It includes all the Frameworks, Analysis Tools & Document Templates required to improve your Strategic Planning capability, and become the subject matter expert of your organization. This Slideshare Powerpoint presentation is only a small preview of our Toolkit. You can download the entire Toolkit in Powerpoint and Excel at www.slidebooks.com
COMPETITIVE Books by Michael E. Porter The Com.docxmccormicknadine86
COMPETITIVE
Books by Michael E. Porter
The Competitive Advantage of Nations ( 1990)
Competitive Advantage: Creating and Sustaining Superior
Pe$ormance (1985)
Cases in Competitive Strategy (1982)
Competition in the Open Economy (with R.E. Caves
and A.M. Spence) (1 980)
Interbrand Choice, Strategy and Bilateral Market Power ( 1 976)
COMPETITIVE
STRATEGY
Techniques for Analyzing
Industries and
Competitors
With a new Introduction
Michael E. Porter
THE FREE PRESS
THE FREE PRESS
A Division of Simon & Schuster Inc
1230 Avenue of the Americas
New York, NY 10020
Copyright O 1980 by The Free Press
New introduction copyright O 1998 by The Free Press
All rights reserved,
including the right of reproduction
in whole or in part in any form.
First Free Press Edition 1980
THE FREE PRESS and colophon are trademarks
of Simon & Schuster Inc.
Manufactured in the United States of America
62 61 60
Library of Congress Cataloging-in-Publication Data
Porter, Michael E.
Competitive strategy: techniques for analyzing industries and
competitors: with a new introduction1 Michael E. Porter.
p. cm. ..
Originallypublished: New York: Free Press, c I980
Includes bibliographical references and index.
I. Competition. 2. Industrial management. I. Title.
HD4 1 .P67 1998
6 5 8 d c 2 1 98-9580
CIP
ISBN 0-684-84148-7
Contents
Introduction
Preface
Introduction, 1980
xvii
xxi
PART I General Analytical Techniques
CHAPTER 1 THE STRUCTURAL ANALYSIS OF INDUSTRIES 3
Structural Determinants of the
Intensity of Competition 5
Structural Analysis and
Competitive Strategy 29
Structural Analysis and
lndustry Definition 32
CHAPTER 2 GENERIC COMPETITIVE STRATEGIES 34
Three Generic Strategies 35
Stuck in the Middle 41
Risks of the Generic Strategies 44
CHAPTER 3 A FRAMEWORK FOR COMPETITOR ANALYSIS 47
The Components of Competitor
Analysis 49
Putting the Four Components
Together-The Competitor
Response Profile 67
Competitor Analysis and
Industry Forecasting 71
The Need for a Competitor
Intelligence System 71
v i CONTENTS
CHAPTER 4 MARKET SIGNALS 75
Types of Market Signals 76
The Use of History in Identifying
Signals 86
Can Attention to Market Signals
Be a Distraction? 87
lndustry Instability: The Likelihood
of Competitive Warfare 89
CompetitiveMoves 91
Commitment 100
Focal Points 105
A Note on Information and Secrecy 106
CHAPTER 6 STRATEGY TOWARD BUYERS AND SUPPLIERS 108
Buyer Selection 108
Purchasing Strategy 122
Dimensions of Competitive Strategy 127
Strategic Groups 129
Strategic Groups and a Firm's
Profitability 142
Implications for Formulation
of Strategy 149
The Strategic Group Map as an
Analytical Tool 152
Basic Concepts in lndustry
Evolution 157
Evolutionary Processes 163
Key Relationships in lndustry
Evolution 184
PART I1 Generic Industry Environments
What Makes an lndustry
Fragmented? 196
Contents vii
Overcoming Fragm ...
Google X - Think Tanks as a Source of Disruptive Innovation in Large Corporat...Thomas Klaffke
My seminar paper on Think Tanks as a Source of Disruptive Innovation in Large Corporations tries to propose a viable solution to the problem many large organizations nowadays have: robust, inflexible structures, processes and cultures in which the creation and development of disruptive innovations is almost impossible.
My solution: outsourced, creative, clandestine think tanks or labs that are focusing solely on disruptive innovation outside of the core business of the organization. How can this be a viable solution? Google X might be a popular and successful example.
Read my paper to know why!
50 Free Persuasive Essay Examples BEST Topics ᐅ TemplateLab. Example Of Persuasive Essay in 2020 With images Persuasive writing .... Persuasive Essay Templates at allbusinesstemplates.com. Writing the persuasive essay. Persuasive Essay Topics. Persuasive Essay - Miss Walsh ELA. Persuasive Essay Writing prompts and Template for Free. Persuasive Essay Format Template Business. FREE 8 Persuasive Essay Samples in MS Word PDF. Persuasive Essay. Persuasive Essay Examples Preview. Beth Wilcoxs Northern Learning Centre Blog: Persuasive Essay Format. Persuasive Essay Examples. Writing paper: Essay persuasive. Persuasive Essay Example Ilustrasi Format Of Persuasive Essay Format Of Persuasive Essay
The antitrust policy is an important component of the institutional environment in which firms establish their perpetual struggle to achieve sustained competitive advantages.
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related files1208771704.pdfTen timeless tests can help yo.docxdebishakespeare
related files/1208771704.pdf
Ten timeless tests can help you kick the tires
on your strategy and kick up the level of strategic
dialogue throughout your company.
Have you tested your
strategy lately?
‘What’s the next new thing in strategy?’ a senior executive
recently asked Phil Rosenzweig, a professor at IMD,1 in Switzerland. His
response was surprising for someone whose career is devoted to
advancing the state of the art of strategy: “With all respect, I think that’s
the wrong question. There’s always new stuff out there, and most of
it’s not very good. Rather than looking for the next musing, it’s probably
better to be thorough about what we know is true and make sure we
do that well.”
Let’s face it: the basic principles that make for good strategy often get
obscured. Sometimes the explanation is a quest for the next new thing—
natural in a field that emerged through the steady accumulation of
frameworks promising to unlock the secret of competitive advantage.2
In other cases, the culprit is torrents of data, reams of analysis, and
piles of documents that can be more distracting than enlightening.
Ultimately, strategy is a way of thinking, not a procedural exercise
or a set of frameworks. To stimulate that thinking and the dialogue that
goes along with it, we developed a set of tests aimed at helping exec-
utives assess the strength of their strategies. We focused on testing the
strategy itself (in other words, the output of the strategy-development
process), rather than the frameworks, tools, and approaches that generate
Chris Bradley, Martin Hirt, and Sven Smit
1 International Institute for Management Development.
2 For a rich account of strategy’s birth and growth as a field, see Walter Kiechel, The Lords of
Strategy, Boston, MA: Harvard Business School Press, 2010.
J A N U A R Y 2 0 1 1
s t r a t e g y p r a c t i c e
2Have you tested your strategy lately?
strategies, for two reasons. First, companies develop strategy in many
different ways, often idiosyncratic to their organizations,
people, and markets. Second, many strategies emerge over time rather
than from a process of deliberate formulation.3
There are ten tests on our list, and not all are created equal. The first—
“will it beat the market?”—is comprehensive. The remaining nine dis-
aggregate the picture of a market-beating strategy, though it’s certainly
possible for a strategy to succeed without “passing” all nine of them.
This list may sound more complicated than the three Cs or the five forces
of strategy.4 But detailed pressure testing, in our experience, helps
pinpoint more precisely where the strategy needs work, while gener-
ating a deeper and more fruitful strategic dialogue.
Those conversations matter, but they often are loose and disjointed.
We heard that, loud and clear, over the past two years in workshops
where we explored our tests with more than 700 senior strategists ...
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Similar to A.T. Kearney: History of strategy and its future prospects (20)
Disruptive Innovationen in der FinanzwirtschaftSemalytix
The Largest Independent Payment Infrastructure
- Germany is still extremely cash-driven
- Especially Low-Income Population Extensively Uses Cash
- Germany’s Largest Independent Payment
Infrastructure
- Strong Partner Network Allows for a Rollout of Services
across Europe
von Prof. Dr. Hans-Gert Penzel, ibi research an der Universität Regensburg GmbH
Verändertes Zahlverhalten wird stark im Einzelhandel geprägt
Innovationszyklen im Zahlungsverkehr seit dem Jahr 2000
SEPA als Regulator-getriebener Standard - wird vom Endkunden eher als Bedrohung empfunden
E-Commerce explodiert – und verlangt nach E-Payments
Bei Zahlungen im E-Commerce dominieren die „neuen Oligarchen“
Marktführer PayPal
Retail in africa still the next big thingSemalytix
The African Retail Development Index (ARDI) ranks the top countries in Sub-Saharan Africa for retail expansion. Based on A.T. Kearney's Global Retail Development Index, the ARDI identifies not only the most attractive markets today, but also those that offer the most potential in the future. The 2015 ARDI ranks the leading 15 nations and reconfirms the region’s potential arising from not just oft-discussed markets like Nigeria and Ghana, but also small, dynamic markets such as Gabon and mid-sized but fast-growing countries like Angola.
Bip connected risks investing in a divergent worldSemalytix
A.T. Kearney issued its first Foreign Direct Investment (FDI) Confidence Index® in June 1998, in the shadow of the 1997 Asian financial crisis. Despite jitters following economic collapse in Southeast Asia, businesses saw investment opportunity in the Americas, Western Europe, Russia, and East Asia, and the United States took first place. Here we are in 2015, with the United States first place in the Index again and business executives still tormented by a recent global financial crisis. Today’s investors must account for divergent monetary policies in large developed economies, alongside a surging U.S. dollar and a sustained commodity super-slump. Developed and developing markets alike are moving in unexpected ways.
Yet, amid growing divergence and multiplying risks, there is genuine excitement in the global business community. It starts with the growing belief that the combined strength of the U.S. and Chinese economies—first and second in this year’s FDI Confidence Index—can buoy the world economy while others get back on track. And there is genuine dynamism elsewhere if you know where to look. Numerous countries are opening up long-guarded sectors to privatization and foreign investment. Downturns and fluctuations in other countries are creating opportunities for mergers and acquisitions. And new free-trade agreements are already in place or close at hand, even if the U.S. political environment will continue to frustrate its reliable engagement.
Risk has been a constant since the inception of this Index. The challenge for all global business leaders remains how to think beyond the last crisis while seeking to avoid the next. Those that take a “wait and see” approach often find that their competitors—whether small businesses or country governments—do not hold back in seeking positive growth. Our view is that opportunities abound for those that know where to look, aided by strategic foresight and analysis.
The world is more complicated now than it was in 1997. Global interconnectedness has created a more competitive and complex landscape. Technologies, ranging from unconventional energy extraction to predictive and even prescriptive analytics, are changing the game and increasing the probability of strategic disruption in every sector and corner of the world.
The complexity of risk and opportunity in 2015 underscore the importance of the insights contained in this year’s FDI Confidence Index. As always, we welcome any input you may have regarding the Index, its scope and our analysis.
Nach einem eher verhaltenen Jahr 2013 nahmen 2014 M&A-Transaktionen in der Öl- und Gasindustrie deutlich zu. Angesichts des weiter sinkenden Ölpreises und der Entscheidung der OPEC gegen eine Drosselung der Fördermengen werden 2015 noch intensivere M&A-Aktivitäten in der gesamten Wertschöpfungskette stattfinden. Diese strategischen Deals sind für die Unternehmen wichtig, um Wertzuwächse zu erzielen, sich für kommende Marktturbulenzen zu rüsten und die Wettbewerbslandschaft zu ihren Gunsten zu formen.
Over-the-Top Video (OTTv) in the Middle East: How to Win the MarketSemalytix
With growing demand among Middle East viewers for online video content, new players cast in the Netflix mold are competing with traditional TV companies for a market potentially worth $1 billion by 2020. Around the world, over-the-top video (OTTv) is becoming more mainstream.1 These services as a share of total television viewing have doubled globally over the past 12 months and exceed 30 percent in some developed economies. In the United States, 75 million households have an active OTTv subscription, compared to 32 million just four years ago. Fueling this trend is the emergence of an abundance of user-friendly OTTv services, coupled with the increasing quantity and quality of content available online. Netflix launched its streaming service in 2007. As of April 2014, it was being used by 50 million people in 41 countries. Hulu, the OTTv service from NBC Universal, Disney, and Fox, now has six million paying U.S. subscribers. More pay TV operators are offering multiscreen packages to their subscribers and online-only packages to nonsubscribers in a bid to compete head-on with Netflix and similar services. In the Middle East, OTTv is still nascent by global standards. Fewer than 100,000 homes subscribe to dedicated commercial OTTv services—less than 1 percent of television-viewing households.2 Yet despite the low penetration, interest is strong—as suggested by the popularity of online short video services such as YouTube—and a flurry of new services has emerged (see figure 1). Etisalat introduced its eLife TV app on iOS in 2013, just one year after MBC's Shahid TV app became the top downloaded app in the Middle East App Store. Istikana and icflix, which follow a Netflix model, launched the region's first major standalone OTTv services in 2011 and 2013 respectively. OSN recently followed by announcing the launch of Go by OSN for non-pay TV subscribers. In 2014, beIN SPORTS relaunched its OTT service and began selling multiscreen subscriptions, and MBC partnered with Samsung to launch Shahid on smart TVs. - See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/over-the-top-video-ottv-in-the-middle-east-how-to-win-the-market/10192?#sthash.6QbS8wM6.dpuf
Going Digital: The Banking Transformation Road MapSemalytix
The leaders in digital banking are more client-centric, tech-savvy, and inclusive—and are fundamentally changing to deliver the best results.
Most banks today want to become digital banking leaders—after all, that's where the customers are. And for much of the past decade as digital banking has taken hold, most leading traditional banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the leaders understand the importance of mobile in a digital strategy, they are developing more agile operating models, and, most notably, they have tackled the need for internal culture shifts (see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly through the end of the decade, all banks will have to adapt to a disruptive model in people and IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even those are facing major changes. In particular, as more customers use their mobile phones and tablets to do their banking, and omnichannel takes hold in financial services, the mobile experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their operating models. In particular, changes in IT, new products and services development, and changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic, profound reset of how banking staff reacts to customer needs. This means thinking customer first, rather than by channel; as one panelist puts it, "Banks think in channels, but customers don't." It means being conscious that small digital players can gain market share faster and in a manner that is more disruptive to traditional banks' models. It means understanding that organizational silos pose significant obstacles to creating new solutions for customers. Most importantly, it means looking inward, changing organizational beliefs and habits to facilitate clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes, becoming more agile, and improving openness in day-to-day business.
- See more at: http://www.atkearney.com/latest-article/-/asset_publisher/lON5IOfbQl6C/content/going-digital-the-banking-transformation-road-map/10192?_101_INSTANCE_lON5IOfbQl6C_redirect=#sthash.oKsJGij3.dpuf
Leaders use procurement to catalyze lasting, superior business performance through excellence in managing categories, suppliers, and teams. The rush to cut costs in the wake of the 2008–09 Great Recession propelled procurement organizations to the forefront at companies around the world. Faced with so much uncertainty, companies raced to shed costs—and procurement rose to the challenge, delivering exceptional results. With this came an increase in procurement's stature, influence, and reach. A.T. Kearney's Assessment of Excellence in Procurement (AEP) 2011 study saw a doubling in the rate of benefits achieved by the procurement functions since the 2008 study, yielding the highest percentage gains seen in the more than two decades since we began conducting this study. In 2011, we projected that this upward trajectory would continue: procurement appeared poised to deliver even greater impact to the business. Our 2014 AEP study finds that while leading companies continued their trajectory, most procurement organizations only sustained the gains in influence and reach made between 2008 and 2011. In short, the typical company may be "wasting a crisis" by not continuing to enhance one of the most powerful levers to improve profitability and competitive advantage. - See more at: http://www.atkearney.de/studie/-/asset_publisher/Rv2vNmilj1Kf/content/procurement-powered-business-performance?_101_INSTANCE_Rv2vNmilj1Kf_redirect=%2Fresearch-studies#sthash.CJibvJBu.dpuf
Nutraceuticals: The Front Line of the Battle for Consumer HealthSemalytix
Nutrition products can be an inexpensive and safe solution to tackle important unmet health needs.
Consumer healthcare has become the battleground where pharmaceutical and consumer goods firms compete for growth. With more people around the world dying from obesity than starvation, poor nutrition is now recognized as a major risk factor for chronic diseases. Most health systems are ill-equipped to deal with this trend.1 Increasingly, patients are being encouraged to take part in their own treatments, and a consumer market has been developing midway between the supermarket-based world of consumer goods companies and the scientific, pharmacy-based world of pharmaceutical firms.2
The front lines of this battle are nutritional products that have been proven to help prevent or cure disease. These "nutraceuticals" present a tantalizing opportunity for breakthroughs to prevent and manage common health problems, offering consumer-focused solutions to issues that are currently addressed only by pharmaceutical interventions—or not at all.3 However, despite being a hot spot for growth, they still suffer from the same challenges as the rest of the sector, with market growth barely keeping up with the rise in gross domestic product.4
In this paper, the third in our Winning the Battle for Consumer Healthcare series, we delve further into the nutraceuticals market to understand the opportunities and barriers to growth. We also look at the successes and challenges faced by both consumer goods and pharmaceutical companies as they struggle to gain the upper hand in this exciting new market.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/nutraceuticals-the-front-line-of-the-battle-for-consumer-health/10192#sthash.Fx04jdM8.dpuf
A.T. Kearney: GCC Family Businesses: Unlocking Potential Through Active Portf...Semalytix
Since 2008, times have been tough for family businesses. The antidote: tapping into hidden value.
Like families in general, family businesses seem to function relatively well in troubled times. In fact, many studies show that, in the long run, they perform better than other business models. Key factors for their ongoing success include a management perspective that emphasizes the long term, strong brand and family name recognition, and often a strong focus on the core business.1
But in the Gulf Cooperation Council (GCC), family businesses are trending in the opposite direction.2 During the recent crisis, they have been less resilient than the rest of the economy despite a pre-downturn history of rapid growth and market dominance. Since 2008, the A.T. Kearney GCC Family Conglomerate Index has decreased by 60 points, while the Bloomberg GCC 200 Index has decreased by 40 points, a 20-point performance gap (see figure 1).3 After a tough 2008, GCC family businesses rebounded to some extent (as did the market), but this did not last. As the overall market has trended mostly up, family businesses have trended downward.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/gcc-family-businesses-unlocking-potential-through-active-portfolio-management/10192#sthash.sb692Hgw.dpuf
Educators have long been allured by technology—from radio, film, and television to calculators, VCRs, and PCs. Now it's tablets, document cameras, and interactive whiteboards. With a plan in place, schools can make sure that their investments in digital technology don't go to waste. - See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/the-digital-school/10192#sthash.21c9zgQn.dpuf
Digitization is bringing a sea change to a U.S. healthcare industry already facing waves of uncertainty. By taking the right steps, this can be a major opportunity for industry players.
Forecasting the future of any industry is difficult, none more so right now than healthcare in the United States. There are countless reasons why healthcare will look different in the near future, not least of which being the country's movement toward national coverage. However, digital transformation—the cumulative change that comes when digital technologies are introduced wholesale into an established industry—is poised to have an even bigger impact. For the U.S. healthcare industry, digital technology will be transformational, cutting healthcare delivery costs, eliminating errors through improved electronic medical records, and establishing routinized, evidence-based approaches to treatment.
Digital forces are pulling at the industry and significantly altering services, products, innovation, delivery, and remuneration (see figure). There are digitally integrated healthcare providers, digital medical devices and technologies, and digital delivery and monitoring of home healthcare. In addition, new ideas are emanating from developing markets, agile competitors are embracing technology, and a digital-friendly federal administration is pushing innovation. And don't forget the digital consumer who is used to digital banking, digital retailing, and digital education, and expects digital healthcare.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/digital-healthcare-or-bust-in-america/10192#sthash.gP6B4uWR.dpuf
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Improving profitability for small businessBen Wann
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
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What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Memorandum Of Association Constitution of Company.ppt
A.T. Kearney: History of strategy and its future prospects
1. The History of Strategy
and Its Future Prospects
From The Art of War to The War for Talent, strategy
has been evolving for centuries. What we have learned
in the past 2,500 years is highlighted here—not only
where strategy began but also why it is on the verge
of reclaiming its rightful place in history.
The History of Strategy and Its Future Prospects
1
2. Strategy, for most of its 2,500-year history, was one-dimensional. Warmongers were largely
focused on avoiding wars by not instigating them and business was mostly focused on building
power and monopolies. The past 50 years have more than made up for this one-way view as
strategy hit its prime and spewed out countless new ideas and solutions.
But as the strategies piled up so did the complexity, and the chance that any one overall strategy
was the answer to ever expanding strategic freedom was trampled in the competitive scramble.
Strategy is on the verge of reinventing
itself and reclaiming its rightful place
at the top of the business food chain.
As a result, we are in for some interesting times. Strategy is on the verge of reinventing itself
and reclaiming its rightful place at the top of the business food chain. We believe that strategy
will come back as a much more powerful guiding force of organizational energy, which we are
excited about because it brings “strategy” and “doing” back together again—something we
wholeheartedly believe in.
This paper constructs a brief history of strategy within a framework of noteworthy publications.
We generalize, simplify, and cut corners, not out of ignorance but to create a holistic overview
to show where strategy has been and where we believe it is now headed.
The Early Days
The beginnings of strategy can be traced back to The Art of War by Sun Tzu. The book covers all
aspects of waging war and provides copious amounts of strategic and philosophical advice still
being used as a source of inspiration for politicians and business leaders. The same holds true
for On War by Carl von Clausewitz, a major general in the German Prussian army. Interestingly,
both books extensively cover how to avoid war. Von Clausewitz’s influence can be seen in the
U.S. nuclear deterrence strategy, followed since the 1950s with the belief that the best way to
deter a global nuclear war is to have the ability to engage in one.
Exclusivity Strategies: Up to 1900
Warmongers have long enjoyed the strategic and tactical richness of how not to go to war
while business strategy through the 1800s mostly revolved around just creating exclusivity and
monopolies. In the United States, the great railway companies had a strong grip on economic
activity and were among the most important shares traded on stock exchanges (although their
fortunes came and went). In fact, monopoly and exclusivity strategies proved so effective that
many wars were fought over them.
Ida Tarbell’s 1904 book, The History of the Standard Oil Company, signaled the transition to a new
strategic era. Tarbell depicted John D. Rockefeller as a money-grabber who was viciously effective
at monopolizing the oil trade. Rockefeller gradually expanded his control over the refining
business by taking over competitors. It is estimated that at one point more than 90 percent
The History of Strategy and Its Future Prospects
2
3. of North American refinery capacity was controlled by Standard Oil and its 30 wholly and partially
owned subsidiaries. The company exerted such control over oil refining and distribution that
it was deemed too successful and potentially damaging for the development of other industries.
Industrial Proficiency Strategies: 1900–1968
As the United States and most of the world turned away from far-reaching exclusivities and
monopolies, Standard Oil ironically became a prime example of the strategies that would follow.
Rockefeller allegedly got competitors to sell their operations to Standard Oil by simply opening
his books to them. When it became clear that Standard Oil could sell oil products at a profit for
prices well below the production costs of its competitors, the competitors folded and sold their
businesses. Standard Oil’s size advantage and operations put it well ahead of most competitors.
This focus on pushing the boundaries of industrialization and operations marked the strategic
space over the next 60 or so years. Frederick Winslow Taylor kicked off this period with his 1911
monograph, The Principles of Scientific Management, which marked the beginning of a school
of thought that contends that increased productivity results from making workers and the flow
of work as efficient as possible. Taylor was criticized for not paying enough attention to the
social side of labor and industrial operations, and he was not alone. Alfred P. Sloan, who helped
make General Motors the world’s largest industrial corporation for many decades, was accused
of the same narrow focus on metrics, tasks, and efficiencies. Under Sloan’s sponsorship in 1931,
the world’s first university-based executive education program, the Sloan Fellows, was created
at MIT. In 1952, the MIT School of Industrial Management was established through a Sloan
Foundation grant. The school, designed to educate the “ideal manager,” was later renamed the
Alfred P. Sloan School of Management and today is one of the world’s premier business schools.
This period also saw the birth of many of the foremost consultancies still active today, which
tellingly were often referred to as “business engineers.”
As the period progressed, scientific management made way for more holistic perspectives that
pushed the boundaries of operations by looking at all aspects of productivity and efficiency. By
1969, these perspectives had become input for true strategic analyses and planning, marking a
new period in strategy development.
Strategy Heydays: 1969 to Mid–1990s
In the late 1960s and early 1970s, Bruce Henderson, who later founded the Boston Consulting
Group, published work on the “experience curve,” an idea that there is a direct relationship
between cumulative production and production costs. In other words, the more experience
a company has making a product, the lower its costs. This became the basis for strategizing the
combination of price setting, production volumes, and production costs against competitors.
It also played to the heart of analyses-driven strategy development. Soon after publishing this
work, Henderson came up with the growth-share matrix, made famous by its quadrant names:
cash cows, dogs, stars, and question marks. The matrix helped companies with multiple
experience curves manage an ongoing portfolio of activities.
Harvard professor Michael Porter expanded the competitiveness concept with yet more strategies. In his 1985 book, Competitive Advantage: Creating and Sustaining Superior Performance,
Porter presents the notion of differentiating strategies and strategies focused on specific
The History of Strategy and Its Future Prospects
3
4. segments as alternatives to cost leadership strategies. He also creates the five forces model
and the value chain model to help companies formulate more powerful strategies.
Two important Harvard Business Review (HBR) articles followed Porter’s book. In their 1990
article, “The Core Competence of the Corporation,” C. K. Prahalad and Gary Hamel highlight
the importance of gaining competitive advantage by not only looking at positioning in terms
of markets and competitors, but also by looking inside your own company. Building on this
thinking, Cynthia Montgomery and David Collis connect the resource-based view of the firm
to its positioning in “Competing on Resources: Strategy in the 1990s,” a 1995 HBR article.
So, the debate between inside-out strategies and outside-in strategies was never a real debate.
Both mattered.
The debate between inside-out strategies
and outside-in strategies was never a real
debate. Both mattered.
During this period, strategy became a proper discipline: more standalone, more analytical, and
more cerebral. Strategy shifted from being one of the daily tasks for senior executives and landed
instead in the hands of strategy professionals and planners. This had a rather unwanted side effect
as it created a distinct handover between strategy formulation and strategy implementation.
In fact, the more sophisticated and far-sweeping strategies became, the larger the handover
hurdles. With globalization and automation, things got worse; change management and getting
buy-in were much-discussed topics and strategy implementation gradually became a selfinflicted major issue.
In the second half of this period, books and articles were all about organizational change, turning
strategies into real, competitive “rubber hitting the road,” which meant closing the gap between
what the organization needs to do and what it is able to do. By the 1990s, we were coming
to grips with organizational change through books such as John P. Kotter’s Leading Change,
published in 1996.
Some years earlier, Edgar H. Schein released his influential works on culture and leadership and
their importance for strategy, and Henry Mintzberg was talking about designing organizations
suitable for executing specific strategies from the bottom up.1
Performance metrics were another helpful component in strategy execution, with several
initiatives pushing the envelope for effective strategic metrics in the early 1990s. The most
well-known are those of Robert S. Kaplan and David P. Norton, who wrote articles in 1992 and
1993 and then published The Balanced Scorecard: Translating Strategy Into Action in 1996.
By the mid-1990s, the stars seemed aligned for putting brilliant strategies to work. But there was
little time to enjoy the moment as a new strategic age was building, signaling the start of the era
of strategic proliferation.
Edward H. Schein, Organizational Culture and Leadership (1985); Henry Mintzberg, Structure in Fives: Designing Effective Organizations
(1983) and Mintzberg on Management: Inside Our Strange World of Organizations (1989)
1
The History of Strategy and Its Future Prospects
4
5. Strategic Proliferation: Mid–1990s to Mid–2010s
In 1993, Michael M. Hammer and James Champy published Reengineering the Corporation:
A Manifesto for Business Revolution, which was on The New York Times best-sellers list for more
than a year and sold more than 2.5 million copies. Suddenly, there was a trend so big that it
didn’t fit our strategy frameworks, and the reengineering revolution hijacked the strategy
process. The reasons are clear. By the late 1980s and early 1990s, fundamental shifts brought
about by advances in areas such as technology had a great impact, as did the shift in the
developed world from industrial-based to service-based.
But the reengineering revolution did not last long. By the late 1990s, the next strategic
revolution had arrived, drawing us all into the big promise of the Internet and the notion of the
new economy. In 1999, Blown to Bits: How the New Economics of Information Transforms Strategy
by Philip Evans and Thomas S. Wurster of Boston Consulting Group, made a convincing argument
that the Internet changed everything. Suddenly, disintermediation was possible for just about
anything, and it was clear that intermediaries would be eliminated sooner rather than later.
By the late 1990s, the next strategic
revolution—the Internet—had arrived.
By this time, it was obvious that the Internet provided a huge boost to value chain modularity,
allowing companies to create Lego-block-style value chains or completely networked enterprises
and to pursue all sorts of joint ventures, partnering, licensing, insourcing, and outsourcing deals.
One of the most well-known publications on this breakup of the vertically integrated business
was “Unbundling the Corporation,” a 1999 HBR article by John Hagel III and Marc Singer.
It was never a question of which strategic revolution was the most important; rather, it was the
fact that they were piling up, each one bringing with it plenty of opportunities to create or lose
competitive advantage. For example, we have been dealing with the opportunities of the
Internet for the past 15 years, and will likely do so for the next 15.
The same is true for many other major strategic shifts, from globalization, big IT, and technology
to social communities and even the global financial crisis: Each one is here to stay and cumulatively adding to the strategic degrees of freedom. Consider globalization. Thomas L. Friedman’s
2005 book, The World Is Flat: A Brief History of the Twenty-first Century, drives home the message
that not only have resources, markets, and competition become truly global, they have become
so on an increasingly level playing field. At a more operational level, big IT enjoyed more attention
as outsourcing became standard operating procedure.
Technology also led to a fundamental new way of tapping into resources. In their 2006 HBR
article, “Connect and Develop: Inside Procter & Gamble’s New Model for Innovation,” Larry Huston
and Nabil Sakkab wrote about how Procter & Gamble turned developers inside and outside
their company into a seamless development capability. They, along with Don Tapscott and
Anthony D. Williams in Wikinomics: How Mass Collaboration Changes Everything, published that
same year, showed us how distributed capabilities were becoming mainstream—a community
of Apple users helps solve all sorts of issues, Amazon provides a seamless assortment of products
from a multitude of companies, and Linux is an operating system created by a large group
of disparate IT professionals. The list goes on.
The History of Strategy and Its Future Prospects
5
6. Beginning
of strategy
~500BC
The
Milestones
2008/2009 2013
The end of
monopolies
1904
The Art
of War
– Sun Tzu
The History
of the
Standard Oil
Company
– Ida Tarbell
Monopoly
strategies
500BC
Experience
curves and
growth-share
matrix
– Bruce
Reengineering the
Corporation
– Michael M.
Industrial
proficiency
1834
– Carl von
Clausewitz
The Balanced
Scorecard
The Core
Competence
of the
Corporation
The Principles
of Scientific
Management
2013
1992
Competitive
Strategy
and The
Competitive
Advantage
1911
On War
The
Essence
Strategic proliferation
Mid–1990s
1980/1985
Gunther
McGrath
2012
Strategy
heydays
Late 1960s
The End of
Competitive
Advantage
– Rita
Accelerate!
– John P. Kotter
Hammer and
James Champy
Henderson
1900
Design
Thinking
and Change
by Design
– Tim Brown
1993
1968
Leading
Change
– John P. Kotter
– Kaplan &
Norton
– Michael Porter
– Frederick
Winslow
Taylor
– Prahalad
and Hamel
1980
1994
1997
Hypercompetition
– Richard
D'Aveni
The
Overload
Cannibals
with Forks –
The Triple
Bottom Line of
21st Century
Business
2001
The Internet
Bubble
– Perkins and
Perkins
– Michaels,
HandfieldJones, and
Axelrod
1997
Blown
to Bits
– Evans and
Wurster
The New Age
of Innovation
Driving Co-created
Value Through
Global Networks
– Prahalad
and Krishnan
2000
2005
2008
The Wisdom
of Crowds –
2005
How Mass
Collaboration
Changes Everything
– Tapscott
and Williams
The World
Is Flat –
Winning in
Emerging
Markets
A Brief History of
the Twenty-First
Century
– Khanna
and Palepu
– Friedman
2005
2010
Wikinomics –
Why the Many
are Smarter
Than the Few
– James
Surowieki
– Elkington
The War for
Talent
1996
2010
The Big
Short –
Inside the Doomsday
Machine
– Michael
Lewis
Big Data –
A Revolution That Will
Transform How We
Live, Work, and Think
– Mayer-
Schönberger
& Cukier
2013
Note: This overview is by no means exhaustive.
2009
2012
Start With
Why –
How Great Leaders
Inspire Everyone
to Take Action
“Ersatz”
Strategies
– Simon Sinek
The
Strategist –
Be the Leader Your
Business Needs
– Cynthia
Montgomery
HBR’s
10 Must
Reads – On
Leadership
– Drucker et al
2001
Good to
Great –
2003
2001
2013
The Loyalty
Effect and One
Number You
Need to Grow
Profit from
the Core –
Playing
to Win –
– Jim Collins
– Frederick
Reichheld
– Zook and
Allen
– Lafley and
Martin
Lean Six
Sigma –
The Toyota
Way
Why Some
Companies Make
the Leap... and
Others Don't
Combining Six
Sigma Quality with
Lean Production
Speed
– Jeffrey Liker
Growth Strategy
in an Era of
Turbulence
A Practical
Approach to
Winning Strategy
Blue Ocean
Strategy
– Kim and
Mauborgne
– Michael George
2011
Authentic leadership
2008
2002
Fast Strategy
– Doz and
Kosonen
The
Upside of
Turbulence –
Seizing Opportunity
in an Uncertain
World
– Donald Sull
2004
No-regret tactics
2005
Slicing the strategic cake
2009
Agility
Source: A.T. Kearney analysis
The History of Strategy and Its Future Prospects
6
7. In fact, this extends into social technologies that facilitate all sorts of communities with
ever-stronger social fabric that provide a breeding ground for new community services such
as peer-to-peer lending, product and service recommendations in hospitality and travel, and
a host of other areas. Many publications, including Groundswell: Winning in a World Transformed
by Social Technologies by Charlene Li and Josh Bernoff, and Here Comes Everybody: The Power
of Organizing Without Organizations by Clay Shirky, both published in 2008, provide insights
on how to take advantage of these newfound possibilities.
There are many excellent standalone
concepts, but no overriding framework.
The global financial crisis has been a source of profound and sudden business dynamics,
illustrating that some external events are bigger than we can imagine or anticipate. The crisis
heightened an interest in ways to systematically deal with global risks and it triggered many
publications, including the 2010 republishing of Black Swan: The Impact of the Highly Improbable
by Nassim Nicholas Taleb.
Many more strategic shifts have become standalone strategic considerations, as outlined
in books such as The War for Talent by Ed Michaels, Helen Handfield-Jones, and Beth Axelrod;
Hypercompetition by Richard D’Aveni; and Big Data: A Revolution that Will Transform How We
Live, Work, and Think by Viktor Mayer-Schönberger and Kenneth Cukier. But then, this is exactly
what typifies this era. There are many excellent concepts, recipes, and frameworks for dealing
with an individual, strategically disruptive phenomenon, but no overriding framework to pull
it all together.
Strategy… Who Needs It Anyway?
The steady stream of strategic shifts and accompanying strategic freedom has almost made
strategy irrelevant. It is so easy to see new and better ways to increase competitive advantage
that everybody is pursuing an array of ideas. It almost doesn’t matter which source of competitive
advantage you pick, as long as you capitalize on enough of them fast enough. And because
most organizations face the same situations, and pursue the same ideas, there is nothing short
of a competitive stampede going on.
In today’s extremely dynamic business environment, it is difficult to predict where things are
heading and which players will succeed with what and when. What’s more, strategy is more
complicated. Every time a new phenomenon appears, strategy formulation becomes a bit more
complex as more factors must be considered simultaneously, further eroding the chance for
strategy to step in as a guiding force in the competitive maelstrom. There is simply no spreadsheet or framework big enough and comprehensive enough to accommodate all of the strategic
parameters or possible business permutations.
We believe it is for this reason that Walter Kiechel III, author of The Lords of Strategy, observed
in an interview a few years ago, “It’s tough to identify any big new strategy ideas since 1995.”2
The Lords of Strategy describes the rise of the large strategy consulting firms Boston Consulting Group, McKinsey, and Bain and the
business school professors who contributed conceptual frameworks and pragmatic insights to the strategy revolution. Kiechel,
a former managing editor at Fortune magazine, was the editorial director of Harvard Business Publishing from 1998 to 2002.
2
The History of Strategy and Its Future Prospects
7
8. The situation cannot be ignored. Companies are facing a growing list of urgent initiatives,
juggling more than they can handle just to stay on par with the competition. The strategic span
of control has become unmanageable. Many organizations are at risk of becoming engrossed
in the here and now, inundated by day-to-day urgencies that trigger a gradual loss of the internal
strategic sense of purpose and direction. When everyone is indiscriminately chasing competitive
advantage from multiple sources, employees are very busy but their sense of purpose evaporates.
No wonder employee disengagement is at an all-time high of 70 percent.3
“Ersatz” Strategies: Dealing with the Side Effects
Strategic freedom is not without some unwanted side effects. There is a significant risk that
organizations become overly busy and lose track of what matters most, distracted by the idea
that strategic headway must simply be made. Fortunately, the situation has triggered many
bright strategic thinkers to come up with answers. We list four typical answers here:
1. Authentic leadership and corporate values (Drucker)
The appeal of strong leadership, clear direction, and an organization with powerful corporate values
is unmistakable. But genuine leadership is difficult to muster amid tumultuous business environments and mounting financial pressures. As distractions grow, effective leadership becomes more
necessary but also more difficult. It’s no wonder that the past decade in particular has seen a proliferation of books, articles, and professional services to support effective leadership. A good place
to look for inspiration is HBR’s 10 Must Reads on Leadership by Peter F. Drucker et al., from 2011.
2. No-regret tactics (George, Reichheld, Teal, Liker, Collins)
In the absence of a clear overall strategy, it is still possible to make strategic headway by pursuing
(apparent) no-regret strategic initiatives.
Lean Six Sigma (2002) and Lean Six Sigma for Service (2003) by Michael L. George, for example,
bring together the six sigma approach (developed by Motorola in 1985 and embraced by Jack
Welch for GE in 1995) with lean concepts to minimize waste and take it beyond manufacturing.
Lean six sigma is a standalone concept that comes with its own goals (convenient when you
have difficulty formulating clear strategic goals or are forced to regularly adapt them), metrics,
approaches, and training. There is little disagreement about goals to reduce waste, reduce
process variation, and align processes with the voice of the customer.
Customer centricity and loyalty are also prominent goals. Who could argue that more customers
who are true ambassadors of your products and services is not good for business? For this reason,
the net promoter score as laid out in the 1996 book, The Loyalty Effect: The Hidden Force Behind
Growth, Profits, and Lasting Value by Frederick F. Reichheld and Thomas Teal, enjoys considerable
attention to this day.
Benchmarking remains widespread as learning from successful players has a very straightforward logic to it. Numerous books focus on the practice. The inspirational benchmarks are
most interesting to strategists who generally prefer to go beyond the immediate operational
and organizational treats. The Toyota Way: 14 Management Principles from the World’s Greatest
Manufacturer (2003) by Jeffrey Liker and Good to Great: Why Some Companies Make the Leap...
and Others Don’t (2001) by Jim Collins come to mind.
“State of the American Workplace: Employee Engagement Insights for U.S. Business Leaders,” Gallup, 2010-2012 report.
3
The History of Strategy and Its Future Prospects
8
9. 3. No more strategic frameworks (Zook, Allen, Rumelt, Kim, Mauborgne)
If strategy formulation is more complex because of the number of strategic parameters involved,
then why not narrow the parameters? Surely this makes more sense than building ever more
elaborate frameworks to incorporate more parameters.
A variety of useful ideas are available based on the best practices of successful companies. This
provides at least partial reassurance for ignoring the strategic parameters not directly addressed
by the suggested recipe. Profit from the Core: Growth Strategy in an Era of Turbulence (2001)
and Repeatability: Build Enduring Businesses for a World of Constant Change (2012), both by
Chris Zook and James Allen, provide an effective way to focus on a subset of strategic parameters. Good Strategy/Bad Strategy: The Difference and Why It Matters (2011) by Richard Rumelt
suggests a very different way to make strategy more digestible. Blue Ocean Strategy (2005)
by W. Chan Kim and Renée Mauborgne suggests that focusing on finding uncontested market
space represents a rewarding form of strategy formulation. Many other smart ways have been
suggested to bring the overall strategic challenge down to more manageable—though sometimes oversimplified—proportions.
In the absence of a clear overall strategy,
it is still possible to make strategic headway
by pursuing no-regret strategic initiatives.
This limited selection is just a sample of the many excellent ideas for addressing the strategic
challenge. Yet they all have one thing in common: They are recipes for slicing the strategy pie
rather than creating the overall strategic frameworks borne of the strategy heydays.
4. Agility, flexibility, and resilience (Doz, Kosonen, Williams, Worley, Lawler)
A last resort (but a useful approach to finding strategic relief) is to acknowledge that it has
become so difficult to formulate lasting strategies in a constantly changing environment that
it should not even be attempted. The answer must instead be sought in strategic agility,
organizational flexibility, and resilience. This way, you not only keep up with change but also
take advantage of fundamental shifts faster than the competition. Fast Strategy: How Strategic
Agility Will Help You Stay Ahead of the Game (2008) by Yves Doz and Mikko Kosonen and the 2013
blog entry “The Agility Factor” by Thomas Williams, Christopher G. Worley, and Edward E. Lawler
III offer examples of strategic agility in response to a rapidly changing environment.
Reclaiming Strategy: 2014 and Beyond
While the approaches already discussed in this paper are helpful in tackling today’s overload
of strategic challenges, they stop short of resolving the root cause of all strategic problems: how
to turn overall strategy from an incomplete game plan into comprehensive organizational energy.
Fortunately, three lines of thinking appear to provide the answer and when combined have the
potential to take strategy back. With any luck, 10 years from now we will be talking about the
period of reclaiming strategy that began in the mid 2010s.
The History of Strategy and Its Future Prospects
9
10. The three lines of thinking can be loosely labeled as follows:
• Shift strategy formulation from current-out to future-in
• Shift the strategy process from cascading down to organizationally inclusive
• Don’t aim for a single strategy but for an ongoing portfolio of competitive advantages
Each one is interesting and promising in itself, but the combination of all three holds the biggest
promise for taking strategy back, using the following logic:
To make strategies more future-proof in an increasingly dynamic environment, we must draw
on our inspirations and insights about the future (rather than analyzing the current situation)
and take this inspiration into a much broader part of the organization. Doing this increases
strategy capacity, motivates and provides meaning to the organization, and aligns strategies
with the organization’s DNA and culture. It also eliminates all handovers in the strategy process,
thus aiding the deployment. Furthermore, by continually capturing outcomes in a portfolio of
strategies, it is possible to manage competitive advantage on an ongoing basis—keeping it
aligned with a rapidly changing business environment.
Here are the details:
Shift strategy formulation from current-out to future-in
In their 2007 HBR article, “A Growing Focus on Preparedness,” Darrell Rigby and Barbara Bilodeau
report that the use of scenario planning has increased markedly since 2002, coinciding with a
general renewed interest in future-focused tools, techniques, and services. The reason, they say,
is that we humans intuitively understand that where we begin tells us little about where we will
end up in a faster-changing environment. In other words, when developing strategies, we need to
shift the emphasis—moving from what we know about our point of departure to what we know
about the future. This is true even if we thoroughly understand our point of departure.
Another interesting perspective is design thinking. In the 2008 HBR article “Design Thinking,”
Tim Brown offers several perspectives on designing innovative products and services. One
perspective is particularly valuable in formulating strategy: Brown talks about bringing innovations in products, services, and even business models to the next level by developing them
within a multidisciplinary setting that incorporates user inspiration. In short, the fundamental
shifts affecting users fuel the innovation process. This does a number of things: It future-proofs
products and services by securing a longer innovation horizon, improves the innovations, and
makes them more easily implemented because of the multidisciplinary involvement—all of which
sounds like something strategy could use right now.
Now imagine combining these two perspectives—essentially expanding the inspiration-driven,
multidisciplinary approach of design thinking with the breadth of strategic inspiration from
scenario planning. Strategy creation becomes integrally linked to future inspiration rather than
to the here and now. Essentially, the love child of scenario planning and design thinking is the
future-in strategy.
Shift the strategy process from cascading down to organizationally inclusive
This seems simple enough. But expanding the design thinking future-in approach to overall
strategy requires more capacity, and lots of it if we want to go well beyond user inspiration to
include strategic inspiration.
The History of Strategy and Its Future Prospects 10
11. Clayton M. Christensen argues in his epic book, The Innovator’s Dilemma (1997), that larger
organizations with strong vested interest in ongoing business are ill-equipped to capitalize
on disruptions. This is particularly bad news today as disruptions are a way of life, making
Christensen’s suggestion to let parts of the organization work independently on disruptions
somewhat impractical.
Fortunately, the same disruptive technologies also provide solutions. Armed with the latest
collaborative and social technologies, people are more able to contribute to their company’s
success. In his HBR article “Accelerate!” (2012), John P. Kotter shows the value of such technologies and how they can be used to create a shadow organization made up of willing coalitions of
people ready to drive the company’s strategic frontiers. It is the best of both worlds: independent
initiatives that secure the future for the organization while simultaneously drawing on the best
the organization has to offer. Kotter also observes that individuals can be readily motivated
to participate in such coalitions.
To make strategies more future-proof in an
increasingly dynamic environment, we must
draw on our insights about the future.
What inspires people can be explained by research into organizational motivation by, among
others, Dan Pink in his 2009 TED talk “The Puzzle of Motivation,” and Dan Ariely in his 2012 TED
talk “What Makes Us Feel Good About Our Work?” Research shows that motivation works
very differently for mechanical tasks versus tasks that require even minimal cognitive efforts.
Mechanical tasks can be motivated by money. But this is not true for cognitive tasks where
motivating factors include autonomy (having some say about the outcome), mastery (having
a sense of personal growth), and purpose (having a sense of meaning). These are all achieved by
giving people freedom to tackle strategic issues and opportunities with likeminded co-workers.
People not only help determine the outcome, but also learn and grow and help repair the disenfranchisement that comes from indiscriminately chasing competitive advantage.
There are also many practical benefits to organizational inclusiveness and the resulting outcomes,
including the capacity to create and activate strategy. The handovers that take place between
strategy formulation and implementation are eliminated, and the resulting strategies are likely to
be more easily implemented because they are crafted with a strong stamp of organizational DNA.
Don’t aim for a single strategy but for an ongoing portfolio of competitive advantages
Reclaiming strategy through future inspiration in an inclusive setting is a good way to identify a
coherent set of competitive advantages. But it is also necessary to make well-founded decisions
and control the mobilizing force unleashed through such inclusiveness. For this, it is useful to
think about strategy in terms of an ongoing portfolio of strengths rather than a single formula
spun over a multiyear cycle.
In her 2013 book, The End of Competitive Advantage: How to Keep Your Strategy Moving as
Fast as Your Business, Rita Gunther McGrath argues that competitive advantage is no longer
sustainable and that it has a life cycle. To be successful, she says, requires learning to initiate,
grow, capitalize on, and say goodbye to competitive advantage all in due time.
The History of Strategy and Its Future Prospects 11
12. The notion of fast-fleeting competitive advantage and business fortunes that are turned around
almost overnight does not come as a big surprise. In fact, most organizations have learned to
adapt to this reality and often have many—sometimes too many—strategic initiatives running at
any given time in an attempt to sustain overall competitiveness.
There is one crucial conclusion that we must draw from Gunther McGrath: If competitive
advantages are indeed transient and have a life cycle, we will need more of them in parallel,
and we will need to manage them as an ongoing portfolio of competitive advantages with
interdependencies, so when some competitive advantages have run their course, new ones
are ready to take their place.
This is a bit of strategic déjà vu from the late 1960s and early 1970s; Henderson noted that
many companies were engaged in multiple activities, each with its own experience curve, and
provided a growth-share matrix for managing a portfolio of interrelated activities over time.
It is no surprise, then, that several recent publications discuss ways to take practical advantage
of non-financial portfolio management. Peter LaCasse talks about the importance of managing
strategic initiatives as a portfolio with interdependencies and tracking the impact the initiatives
have on each other. Ron Ashkenas tells us why portfolio management is not just a financial
management concept, but is equally applicable to other groups of interrelated things that need
to be managed.4
Maintaining an ongoing portfolio of competitive advantage outcomes brings more to the table,
and makes strategy something that is managed continually rather than a sequential approach
of designing a grand scheme and then executing it in a multiyear cycle. It breaks up the single
large strategic sequence into multiple, more nimble mini-sequences at different stages of
development, held together by a portfolio management concept: your company’s strategic story.
Even the traditionally grand scheme, strategy, launch, and business plan-focused startups
are getting an appetite for more continuous approaches to creating competitive advantage.
In The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically
Successful Businesses (2011), Eric Ries demonstrates that an earlier and more granular approach
for testing hypotheses in the market allows startups to get early feedback on what works and
what doesn’t so they can create a more attractive proposition in less time. In his 2013 HBR
article, “Why the Lean Start-Up Changes Everything,” Steve Blank declares the lean startup
principles valid for corporations, too, and argues that corporations should step away from a
single, perfect business plan.
Coming Full Circle: Strategy as Organizational Energy
However interesting the three lines of strategic thought discussed in the previous section are
individually, we believe it is their combination that holds the key to turning strategy into true
organizational energy—the kind that drives a company forward.
Until the 1960s, strategy was mostly about doing. By the late 1960s, however, strategy had
become more about positioning and was more complex, necessitating a more specialized
approach staffed by strategy professionals. Since then, strategy has become even more
complex, arguably to the point that even the professionals are now somewhat overwhelmed.
Peter LeCasse, “Rebalance Your Initiative Portfolio to Manage Risk and Maximize Performance,” HBR, September, 2008; Ron Ashkenas,
“Manage With a Portfolio Mindset,” HBR, September, 2012
4
The History of Strategy and Its Future Prospects 12
13. As discussed earlier, the handover hurdle between strategy creation and strategy activation
has proven to be quite a challenge and a major issue in strategy execution.
In her 2012 book, The Strategist: Be the Leader Your Business Needs, Cynthia A. Montgomery
proposes to bring strategy and doing back together again and turn it from a document on a
desk into the energy that gives life to the company. Leaders play a crucial role in resolving this
dichotomy: They must make clear to the organization what sort of company they envision, and
provide the strategic purpose and meaning to drive the company forward.
Despite its clear appeal and logic, Montgomery’s approach does not eliminate the increased
complexity of doing business and the reason why strategy creation and doing have grown apart.
Creating a future-in strategy in an organizationally inclusive setting with a portfolio of advantages
that can be managed over time can play a crucial role in resolving today’s strategic complexity.
And a portfolio perspective facilitates broad deployment and management of strategy on an
ongoing basis. In short, strategy is reclaimed and once again turned into organizational energy.
The Next Thinking on Strategy
We have not seen the last of the disruptive strategic shifts and events, or the last of the publications on how to deal with them. In fact, we are probably not done figuring out the existing ones.
For the foreseeable future, we should expect to see more research, insights, and publications on
how to deal with them in the most optimal ways. Because we have a strong need to make
strategic headway, we will also continue to find smarter ways to do so.
However, the most interesting published pieces will be those that help bring strategy and doing
back together again. We expect to read more about leveraging the progress made along the three
lines of strategic thinking—future-in strategic inspiration, an organizationally inclusive approach,
and an ongoing portfolio of competitive advantages. When these fully converge, say a decade
from now, we will say that the early 2010s was a time for reclaiming strategy. This is an altogether
more attractive outlook than concluding that—after just a few decades—real strategy is dead.
It was just napping.
Authors
Johan Aurik, managing partner
and chairman, Brussels
johan.aurik@atkearney.com
Martin Fabel, partner, Dubai
martin.fabel@atkearney.com
Gillis Jonk, partner alumnus, Amsterdam
gillis.jonk@atkearney.com
The History of Strategy and Its Future Prospects 13