Summary of Martin Reeves, Knut Haanaes & Janmejaya Sinha's Your Strategy Needs a Strategy

Everest Media

Description

Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 The business environment has never been more uncertain or dynamic, and this has led some to argue that competitive advantage and even strategy are less relevant. However, strategy has never been more important.
#2 The number of strategy tools and frameworks has grown massively since the early 1960s. And far from obvious are the answers to how these approaches relate to one another or when they should and shouldn’t be deployed.
#3 The strategy palette is a unifying choice framework that helps leaders match their approach to strategy to the circumstances at hand and execute it effectively. It consists of five archetypal approaches to strategy, which can be applied to different parts of your business.
#4 The book is built on a broad body of evidence. It is the result of half a decade of research within the BCG Strategy Institute, numerous conversations with clients, and a detailed survey of 150 firms from industries as diverse as banking, pharmaceuticals, high tech, and agri-food.

Sujets

• General
• Business
• Economics
• General officer

Informations

• Publié par: Everest Media LLC
• Date de parution: 10 mai 2022
• Nombre de lectures: 0
• EAN13: 9798822501577
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

Insights on Martin Reeves and Knut Haanaes & Janmejaya Sinha's Your Strategy Needs a Strategy
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5 Insights from Chapter 6 Insights from Chapter 7 Insights from Chapter 8 Insights from Chapter 9 Insights from Chapter 10
Insights from Chapter 1

#1

The business environment has never been more uncertain or dynamic, and this has led some to argue that competitive advantage and even strategy are less relevant. However, strategy has never been more important.

#2

The number of strategy tools and frameworks has grown massively since the early 1960s. And far from obvious are the answers to how these approaches relate to one another or when they should and shouldn’t be deployed.

#3

The strategy palette is a unifying choice framework that helps leaders match their approach to strategy to the circumstances at hand and execute it effectively. It consists of five archetypal approaches to strategy, which can be applied to different parts of your business.

#4

The book is built on a broad body of evidence. It is the result of half a decade of research within the BCG Strategy Institute, numerous conversations with clients, and a detailed survey of 150 firms from industries as diverse as banking, pharmaceuticals, high tech, and agri-food.

#5

The business environment is made up of five distinct dimensions: predictability, malleability, harshness, adaptability, and vision. You must match your approach to strategy and execution to the environment.

#6

Each environment corresponds to a distinct archetypal approach to strategy. Classical leaders believe that the world is predictable, that the basis of competition is stable, and that advantage, once obtained, is sustainable. They seek to position themselves optimally within their environment.

#7

Classical strategy is the approach that most managers are familiar with. It is what is taught in business schools and practiced in some form in the majority of strategy functions in major enterprises.

#8

The adaptive approach is used when the business environment is neither predictable nor malleable. It focuses on constantly experimenting and finding new options more quickly and economically than others.

#9

Leaders taking a visionary approach believe that they can reliably create or re-create an environment by themselves. They see a clear opportunity for the creation of a new market segment or the disruption of an existing one, and they act to realize this possibility.

#10

When the environment is unpredictable but malleable, a firm has the opportunity to lead the shaping or reshaping of an industry at an early point in its development, before the rules have been written or rewritten.

#11

The renewal approach to strategy is used when a company is operating in a harsh environment that cannot be sustained. It is the only way to not only survive, but also to secure another chance to thrive.

#12

The response of American Express to the financial crisis demonstrates the renewal approach. As the credit crisis hit in 2008, the company faced the triple punch of rising default rates, slipping consumer demand, and decreasing access to capital.

#13

The strategy palette provides leaders with a new language for describing and choosing the right approach to strategy in a particular part of their business. It also provides a logical thread to connect strategizing and execution for each approach.

#14

The palette can help leaders to de-average their business, which means decomposing it into its component parts and implementing different approaches to strategy across those parts. Large corporations now stretch across a more diverse set of business contexts, and thus require the simultaneous execution of different approaches to strategy.

#15

The most appropriate approach to strategy is the one that takes into account the harshness of the business environment. Leaders taking a classical perspective assume that the world is essentially predictable, but today’s business environment is rapidly evolving.

#16

There are three types of traps that can derail good intentions when it comes to differentiating your approach to strategy: environmental perception, selecting the right approach, and applying that approach correctly.

#17

The five core approaches to strategy are: 1) differentiation, 2) expansion, 3) cost leadership, 4) market leadership, and 5) integration. They are applied in different parts of the business, and leaders must dynamically orchestrate the resulting strategy collage.

#18

The five archetypal approaches to strategy are classical, adaptive, visionary, shaping, and renewal. They are the best ones for each environment, and they have sound mathematical underpinnings.

#19

The eight roles of leaders are to diagnose the business environment, segment the organization at the right level of granularity, disrupt the diagnosis and segmentation on an ongoing basis, coach the right people to manage each cell of the collage, sell the strategic choices, ask the right questions, and accelerate change initiatives.