1 Case Study

2 Case Study Doing Nothing vs. Doing Something Potentially damages brand equity Negative perception of the company for its own employees Creates the potential for a crisis of consumer confidence Questioning of existing environmental strategies and its ability to attract socially responsible investors.

3 Case Study Doing Nothing vs. Doing Something Attracts attention to what may be a "non- problem." (consumers were currently unaware of the issues) Cheapens the brand by aligning Tiffany with other "green" companies. Scrutiny about commitment level. (platinum) Raises questions about returns for shareholders.

4 Case Study Actions taken by Tiffany Tiffany’s Mission Statement: “to bring beauty into the lived of our customers creating beautiful objects.” NGOs battles may be done on the sidewalk in front of Tiffany. Putting our own house in order isn’t enough. Encourage other retail companies to do the same.

5 Strategy as Strategic Decision Making William Fleck Frank Shala Hiroshi Tashiro

6 “No advantage and no success is ever permanent. The winners are those who keep moving.” by CEO of British Petroleum, John Browne “The only constant in our business is that everything is changing. We have to ahead of the game” by Michael Dell

7 Overview Building collective intuition Stimulating quick conflict Maintaining the pace Defusing political behavior

8 Building Collective Intuition Regularly scheduled “must attend” meetings- intense interactions and information sharing Real-time information includes external and internal operations (i.e. operating performance, innovation-related, and time- related metrics Range of perspectives improves decision quality; creates a deep intuition/”gut feeling”

9 Stimulate Quick Conflict A natural feature of high-stakes decision making Stimulates innovative thinking, creates a fuller understanding of options, and improves decision effectiveness Assembly of diverse teams, “frame- breaking” tactics, and creating multiple alternatives all accelerate conflict

10 Maintaining the Pace Long analytical vs. Quick Rule of Thumb Usually 2 to 4 months Prototyping decisions

11 Maintaining the Pace (Cont’d) Consensus with qualification – Reach consensus, then okay. – If not, voting or decision by CEO Worst decision = “No decision”

12 Defuse Politics Politicking often distorts the information. Create common goals. Each key decision maker should have a clear area of responsibility. Humor strengthens the collaborative outlook.

13 Strategy Summary “The ability to make fast, widely supported, and high-quality strategic decisions on a frequent basis is the cornerstone of effective strategy.”