...for Strategy Execution Dr. Robert S. Kaplan Baker Foundation Professor, Harvard Business School Executing strategy: Senior executives’ #1 issue The Balanced Scorecard: The Central Component in a New Strategy Execution Management System Private Sector Organizations Financial Perspective "If we succeed, how will we look to our shareholders?” Customer Perspective "To achieve our vision, how must we look to our customers?” Process Perspective "To satisfy our customers and shareholders, at which processes must we excel?” Non Profit and Public Sector Organizations Mission (Customer) Perspective “How do we have a social impact with our citizens/constituents?” Support Perspective “How do we attract resources and authorization for our mission?” Process “To have a social impact and to attract resources and support, at which processes must we excel?” Learning & Growth “How do we align our intangible assets to improve critical processes?” Learning & Growth “How do we align our intangible assets to improve critical processes?” Financial “How should we manage and allocate our resources for maximum social impact?” 3 Palladium Balanced Scorecard Hall of Fame for Executing Strategy® : By Industry 2000-2010 The Management System for Strategy Execution Links Vision and Strategy to Operational Excellence 2 TRANSLATE THE STRATEGY DEVELOP THE STRATEGY • Mission, Values, Vision • Strategic Analysis • Strategy Formulation 1 • • • • Strategy Map / Themes...
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...Harvard College Align employees to the strategy: Four HR processes 1. Create Strategic Awareness Communicate Communicate Communicate 2. Align Personal Goals Personal Scorecard Make Strategy Everyone’s Job 3. Provide Necessary Skills Strategic Job Families Strategic Readiness 4. Align Personal Incentives Variable pay Team based You need a formal process to improve workforce readiness. Strategy should be linked to existing HR programs for performance management. How do we align employees to the strategy? 1. Create Strategic Awareness Communicate Communicate Communicate 2. Align Personal Goals Personal Scorecard Make Strategy Everyone’s Job 3. Provide Necessary Skills Strategic Job Families Strategic Readiness 4. Align Personal Incentives Variable pay Team based Communicate “seven times seven different ways” to make strategy everyone’s job Personal relevance brings the strategy to life Sustained communication uses different channels to get the message across • Leadership meetings • CEO random visits to employees • Dear Colleague Quarterly Letter in Mellon News • Learning lunches & informal discussions • Intranet • Working groups facilitated by HR • Staff briefings Source: Presented by Jack Klinck, Vice Chairman, Mellon Europe at BSCol European Summit, June 2005 4 VW do Brasil CEO demonstrates commitment to using the strategy map and scorecard as his strategy management system Mr. Thomas Schmall...
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...CHAPTER 2 Strategy, Operations, and Global Competitiveness 2: Strategy, Operations, and Global Competitiveness Global Competition Strategy Formulation and Implementation Global Trends International Markets and Products Formulating the Business Strategy Strategic Frameworks Focus Critical Value Factors Quality, Functionality and Customization Core Capabilities The Sand Cone Model Quality Market Evolution Outsourcing and Offshoring Performance Frontiers and Improvement Trajectories Functionality Generating New Market Ideas Business Strategy Disruptive Technologies Business and Product Strategies Commercialization Operations and Global Competitiveness Strategy Implementation The Balanced Scorecard Transformation Process Characteristics Example Lean Management Dependability and Speed Cost and Productivity Strategy maps Supply Chain Management Customization Stages of Operational Effectiveness The Aggregate Project Plan Shaded headings indicate especially timely topics. 21 CH A P T E R IN PERSPECTIVE This chapter describes the critical role of operations to the global competitiveness of the organization. We start the discussion with a review of global trends in the economy, the evolution of international markets and products, and the impact of operations on competitiveness and the global supply chain. Next we describe the process of...
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...1989 Sixteen years ago, when Gary Hamel, then a lecturer at London Business Schooi, and C.K. Prahalad, a University of Michigan professor, wrote "Strategic lntent,"the article signaled that a major new force had arrived in management Hamel and Prahalad argue that Western companies focus on trimming their ambitions to match resources and, as a result, search only for advantages they can sustain. By contrast, Japanese corporations leverage resources by accelerating the pace of organizational learning and try to attain seemingly impossible goals. These firms foster the desire to succeed among their employees and maintain it by spreading the vision of global leadership. This is how Canon sought to "beat Xerox"and Komatsu set out to "encircle Caterpillar." This strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways. In this McKlnsey Award-winning article, Hamel and Prahalad describe four techniques that Japanese companies use: building layers ofadvantage, searching for "loose bricks," changing the terms of engagement, and competing through collaboration. Strategic Intent by Gary Hamel and C.K. Prahalad oday managers in many industries Most leading global companies started with ambitions that were far bigger than their resources and capabilities. But they created an obsession with winning at ail levels of the organization and sustained that obsession for decades. 148 working hard to match the compete advantages of their new global...
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...http://www.easy-strategy.com/strategy-gurus.html Home Sitemap Contact Us Articles Speaker Seminars Consulting Negotiation War Room Osama El-Kadi Easy Strategy Videos Stories Gurus 36 Strategies Art of War News Build a Site My Books History Management & Strategy Gurus and Masters The complete A to Z Guide ABCDEFGHIJKLMNOPQRSTUVWXYZ A point of clarification before you start your journey with the gurus and masters: a Guru is a person who is very knowledgeable and teaches a particular strategy. A Master is a practitioner of the art of strategy in life and in business. Management & Strategy Gurus Main Guru's Index ABCDEFGHIJKLMNOPQRSTUVWXYZ 1 of 41 9/21/2014 3:38 PM http://www.easy-strategy.com/strategy-gurus.html Military Gurus Blog Ask me! Newsletter Clients Privacy Policy Motivational [?]Subscribe To This Site A Igor Ansoff Igor Ansoff The father of Strategic management Igor Ansoff (1918-July 14, 2002) was an applied mathematician and business manager. He is known as the father of Strategic management. He was a distinguished professor at United States International University (now Alliant International University) for 17 years, where several institutes continue his work in strategic management research. Igor was recognized worldwide as the Pioneer and Father of Strategic Management. He was the first management strategy guru to recognize the need for strategic planning for firms operating in the increasingly complex and turbulent environment. ...
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...Sixteen years ago, when Cary Hamel, then a lecturer at London Business Sehooi, and C.K. Prahalad, a University of Michigan professor, wrote "Strategic lntent,"the article signaled that a major new force had arrived in management. Hamei and Prahalad argue that Western companies focus on trimming their ambitions to match resources and, as a result, search only for advantages they can sustain. By contrast, Japanese corporations leverage resources by accelerating the pace of organizational learning and try to attain seemingly impossible goals. These firms foster the desire to succeed among their employees and maintain it by spreading the vision of global leadership. This is how Canon sought to "beat Xerox"and Komatsu set out to "encircle Caterpillar." This strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways. In this McKinsey Award-winning article, Hamel and Prahalad describe four techniques that Japanese companies use: building layers ofadvantage, searching for "loose bricks," changing the terms of engagement, and competing through collaboration. Strategic Intent by Gary Hamel and C.K. Prahalad oday managers in many industries Most leading global companies started with ambitions that were far bigger than their resources and capabilities. But they created an obsession with winning at ail levels ofthe organization and sustained that obsession for decades. working hard to match the compete advantages of their new global...
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...Sixteen years ago, when Cary Hamel, then a lecturer at London Business Sehooi, and C.K. Prahalad, a University of Michigan professor, wrote "Strategic lntent,"the article signaled that a major new force had arrived in management. Hamei and Prahalad argue that Western companies focus on trimming their ambitions to match resources and, as a result, search only for advantages they can sustain. By contrast, Japanese corporations leverage resources by accelerating the pace of organizational learning and try to attain seemingly impossible goals. These firms foster the desire to succeed among their employees and maintain it by spreading the vision of global leadership. This is how Canon sought to "beat Xerox"and Komatsu set out to "encircle Caterpillar." This strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways. In this McKinsey Award-winning article, Hamel and Prahalad describe four techniques that Japanese companies use: building layers ofadvantage, searching for "loose bricks," changing the terms of engagement, and competing through collaboration. Strategic Intent by Gary Hamel and C.K. Prahalad oday managers in many industries Most leading global companies started with ambitions that were far bigger than their resources and capabilities. But they created an obsession with winning at ail levels ofthe organization and sustained that obsession for decades. working hard to match the compete advantages of their new global...
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...Handbook of Management Accounting Research Volume 3 Edited by CHRISTOPHER S. CHAPMAN Imperial College London, UK ANTHONY G. HOPWOOD University of Oxford, UK MICHAEL D. SHIELDS Michigan State University, USA AMSTERDAM – BOSTON – HEIDELBERG – LONDON – NEW YORK – OXFORD PARIS – SAN DIEGO – SAN FRANCISCO – SINGAPORE – SYDNEY – TOKYO Elsevier The Boulevard, Langford Lane, Kidlington, Oxford OX5 1GB, UK First edition 2009 Copyright © 2009 Elsevier Ltd. All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone ( 44) (0) 1865 843830; fax ( 44) (0) 1865 853333; email: permissions@elsevier.com. Alternatively visit the Science and Technology Books website at www.elsevierdirect.com/rights for further information Notice No responsibility is assumed by the publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data A catalog record for...
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...Strategic Management Patricia Murtagh The University of Sunderland © 2014 The University of Sunderland First published January 2014, revised February 2014 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without permission of the copyright owner. While every effort has been made to ensure that references to websites are correct at time of going to press, the world wide web is a constantly changing environment and the University of Sunderland cannot accept any responsibility for any changes to addresses. The University of Sunderland acknowledges product, service and company names referred to in this publication, many of which are trade names, service marks, trademarks or registered trademarks. All materials internally quality assessed by the University of Sunderland and reviewed by academics external to the University. Instructional design and publishing project management by Wordhouse Ltd, Reading, UK Copyright © 2014 University of Sunderland ii Contents vi Introduction Unit 1 1 2 5 7 Concepts, models and theories 20 Introduction 2.1 A comparison of concepts, models and theories relating to competitive advantage 2.2 An evaluation of concepts, models and theories relating to strategic choice Case Study: Ciba Vision 2.3 Concepts, models and theories relating to strategic evaluation Case Study: The University of Exeter...
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...Operations Management for MBAs Operations Management for MBAs Fifth Edition Jack R. Meredith Scott M. Shafer Wake Forest University VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR PROJECT EDITOR ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER MARKETING ASSISTANT PRODUCT DESIGNER MEDIA SPECIALIST SENIOR CONTENT MANAGER SENIOR PRODUCTION EDITOR PHOTO DEPARTMENT MANAGER DESIGN DIRECTOR COVER DESIGNER PRODUCTION MANAGEMENT George Hoffman Lisé Johnson Brian Baker Amy Scholz Kelly Simmons Marissa Carroll Allison Morris Ethan Bernard Lucille Buonocore Anna Melhorn Hillary Newman Harry Nolan Wendy Lai Ingrao Associates This book was set in 10/12 ITC Garamond light by MPS Limited and printed and bound by RRD/Jefferson City. The cover was printed by RRD/Jefferson City. This book is printed on acid free paper. Copyright © 2013, 2010, 2007, 2002, 1999 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to...
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...QuickMBA / Strategy / Porter's 5 Forces Porter's Five Forces A MODEL FOR INDUSTRY ANALYSIS The model of pure competition implies that risk-adjusted rates of return should be constant across firms and industries. However, numerous economic studies have affirmed that different industries can sustain different levels of profitability; part of this difference is explained by industry structure. Michael Porter provided a framework that models an industry as being influenced by five forces. The strategic business manager seeking to develop an edge over rival firms can use this model to better understand the industry context in which the firm operates. Diagram of Porter's 5 Forces | SUPPLIER POWER Supplier concentration Importance of volume to supplier Differentiation of inputs Impact of inputs on cost or differentiation Switching costs of firms in the industry Presence of substitute inputs Threat of forward integration Cost relative to total purchases in industry | | THREAT OF NEW ENTRANTS Barriers to Entry Absolute cost advantages Proprietary learning curve Access to inputs Government policy Economies of scale Capital requirements Brand identity Switching costs Access to distribution Expected retaliation Proprietary products | | THREAT OF SUBSTITUTES -Switching costs -Buyer inclination to substitute -Price-performance trade-off of substitutes | | BUYER POWER Bargaining leverage Buyer volume Buyer information Brand identity Price sensitivity...
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...Chapter Web resources for this chapter include • OM Tools Software • Animated Demo Quality Management In this chapter you will learn about . . . ● What is Quality? ● Quality Management System ● Quality Tools ● TQM and QMS ● The Focus of Quality Management-Customers ● The Role of Employees in Quality Improvement ● Quality in Services ● Six Sigma ● The Cost of Quality ● The Effect of Quality Management on Productivity ● Quality Awards ● ISO 9000 2 Problems • Internet Exercises • Online Practice Quizzes • Lecture Slides in PowerPoint • Virtual Tours • Company and Resource Weblinks www.wiley.com/college/russell Quality Management at GREEN MOUNTAIN COFFEE ike wine, coffee quality is judged on attributes like fragrance, aroma, acidity, body, flavor, balance, and finish. Coffee professionals use words like “lush,” “complex,” and “fruity” to describe their evaluations, which are based on precise sensory criteria. Coffee Review, one of the most respected and widely read coffee publications in the world, rates coffees based on a 100-point scale, similar to the one used in the wine industry. Coffee connoisseurs seek out coffees awarded a rating of 80 or above. Each year GREEN MOUNTAIN submits coffee to Coffee Review for independent reviews. On average, Green Mountain L Copyright © 2007 John Wiley & Sons Chapter 2 • Quality Management 53 coffees scored 88.8 points—significantly higher than their better-known west coast and European competitors—and...
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...Knowledge Management Tools and Techniques Practitioners and Experts Evaluate KM Solutions This page intentionally left blank Knowledge Management Tools and Techniques Practitioners and Experts Evaluate KM Solutions Edited by Madanmohan Rao AMSTERDAM • BOSTON • HEIDELBERG • LONDON NEW YORK • OXFORD • PARIS • SAN DIEGO SAN FRANCISCO • SINGAPORE • SYDNEY • TOKYO Butterworth-Heinemann is an imprint of Elsevier Elsevier Butterworth–Heinemann 200 Wheeler Road, Burlington, MA 01803, USA Linacre House, Jordan Hill, Oxford OX2 8DP, UK Copyright © 2005, Elsevier Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Permissions may be sought directly from Elsevier’s Science & Technology Rights Department in Oxford, UK: phone: (+44) 1865 843830, fax: (+44) 1865 853333, e-mail: permissions@elsevier.com.uk. You may also complete your request on-line via the Elsevier homepage (http://elsevier.com), by selecting “Customer Support” and then “Obtaining Permissions.” Recognizing the importance of preserving what has been written, Elsevier prints its books on acid-free paper whenever possible. Library of Congress Cataloging-in-Publication Data Rao, Madanmohan. KM tools and techniques : practitioners and experts evaluate KM solutions / Madanmohan Rao. p. cm. Includes...
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...The Role of Resources and l Organizational Capabilities Classifying Capabilities The Architecture of Capability l Appraising Resources and Capabilities Establishing Competitive Advantage Sustaining Competitive Advantage Appropriating the Returns to Competitive Advantage l Putting Resource and Capability Capabilities in Strategy Formulation Basing Strategy on Resources and Capabilities Resources and Capabilities as Sources of Profit l The Resources of the Firm Tangible Resources Intangible Resources Human Resources Analysis to Work: A Practical Guide Step 1 Identify the Key Resources and Capabilities 123 CSAC05 1/13/07 9:21 Page 124 124 PART II THE TOOLS OF STRATEGY ANALYSIS Step 2 Appraising Resources and Capabilities Step 3 Developing Strategy Implications l Developing Resources and Capabilities The Relationship between Resources and Capabilities Replicating Capabilities Developing New Capabilities Approaches to Capability Development l Summary l Self-Study Questions l Appendix: Knowledge Management and the Knowledge-based View of the Firm l Notes Introduction and Objectives In Chapter 1, I noted that the focus of strategy thinking has been shifted from the...
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...SIXTH EDITION STRATEGIC MANAGEMENT IN ACTION Mary Coulter Missouri State University Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montréal Toronto Delhi Mexico City São Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Editor in Chief: Stephanie Wall Senior Acquisitions Editor: April Cole Editorial Project Manager: Claudia Fernandes Director of Marketing: Maggie Moylan Senior Marketing Manager: Nikki Ayana Jones Marketing Assistant: Gianna Sandri Senior Managing Editor: Judy Leale Production Project Manager: Kelly Warsak Senior Operations Supervisor: Arnold Vila Operations Specialist: Cathleen Petersen Creative Director: Blair Brown Senior Art Director: Kenny Beck Text Designer: LCI Design Cover Designer: LCI Design Cover Art: Svetoslav Iliev/Shutterstock.com Permission Specialist: Brooks Hill-Whilton Media Project Manager, Production: Lisa Rinaldi Senior Media Project Manager, Editorial: Denise Vaughn Full-Service Project Management and Composition: Integra Printer/Binder: RRD/Willard Cover Printer: Lehigh-Phoenix Color Text Font: 10/12, Times LT Std Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text. Copyright © 2013, 2010, 2008 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights...
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