1. 1: Introducing Strategy

2. Learning Outcomes (1)
Understand the characteristics of strategic decisions and what is meant by strategy and strategic management, distinguishing them from operational management
Understand how strategic priorities vary by level: corporate, business, and operational
Understand the basic vocabulary of strategy
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3. Learning Outcomes (2)
Understand the three key elements of the Exploring Corporate Strategy strategic management model
Understand the kinds of people involved in strategy – managers, in-house specialists and strategy consultants – and the work they do
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4. What is Strategy?
Strategy is the direction and scope of an organisation over the long term, which achieves advantage in a changing environment through its configuration of resources and competences with the aim of fulfilling stakeholder expectations.
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5. Characteristics of Strategic Decisions
Long-term direction
Scope of an organisation’s activities
Competitive advantage
Strategic fit with business environment
Organisation resources and competences
Values and expectations of power players
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6. Implications of Strategic Decisions
Complexity
Uncertainty
Operational decisions
Integration
Relationships and networks
Change
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7. Levels of Strategy Corporate- level strategy Business-level strategy
Operational strategy
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8. What is a Strategic Business Unit?
A strategic business unit (SBU) is a part of an organisation for which there is a distinct external market for goods or services that is different from another SBU.
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9. Vocabulary of Strategy
Mission
Vision
Goal
Objective
Strategic capability
Strategies
Business model
Control
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10. Vocabulary of Strategy: Nokia
Vision/Mission
Connecting is about helping people feel close to what matters. Wherever, whenever, Nokia believes in communicating, sharing, and in the awesome potential in connecting the 2 billion who do with the 4 billion who don’t.
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11. Vocabulary of Strategy: Kingston University
Mission
To promote participation in higher education, which it regards as a democratic entitlement; to strive for excellence in learning, teaching, and research; to realise the creative potential and fire the imagination of all its members; and to equip its students to make effective contributions to society and the economy.
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12. What is Strategic Management?
Strategic management includes understanding the strategic position of a organisation, making strategic choices for the future, and managing strategy in action.
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13. Exhibit 1.3 The Exploring Corporate Strategy Model
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14. What is Strategic Position?
Strategic position is concerned with the impact on strategy of the external environment, an organisation’s strategic capability and the expectations and influence of stakeholders.
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15. Strategic Position The Strategic Position Environment Capability
Purpose
Culture
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16. What are Strategic Choices?
Strategic choices involve understanding the underlying bases for future strategy at both the business unit and corporate levels and the options for developing strategy in terms of both the directions and methods of development.
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17. Strategic Choices Strategic Choices Business- level Corporate- level
International
Innovation
Evaluation
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18. What is Strategy in Action?
Strategy in action is concerned with ensuring that strategies are working in practice.
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19. Strategy in Action Strategy in Action Processes Structuring Resourcing
Changing
Practice
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20. Research Approaches to Strategy
Content
Process
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21. Perspectives on Strategy
Complexity Theory
Discourse
Strategy-as-Practice
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22. Strategy Lenses Strategy as design Strategy as experience
Strategy as ideas
Strategy as discourse
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23. Exhibit 1.i Design Lens
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24. Exhibit 1.ii Experience Lens
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25. Exhibit I.iv Idea Lens
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26. Exhibit I.v Discourse Lens
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27. Case Example: Electrolux
Review the strategic choices Electrolux has?
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