Strategies for a new millennium

Июль 29, 2022

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Strategies for a new millennium

Содержание

2. Directions in Strategic Management Practice Key trends of the 1990s : Quest for shareholder value Adjusting
3. New Directions in Strategic Thinking BEYOND DOWNSIZING Gains from cost cutting and downsizing largely exhausted Need
4. Knowledge Management and the Knowledge-Based View of the Firm KNOWLEDGE UTILIZATION Need to identify knowledge with
5. New Organizational Forms Process-based organizations Organizing around business processes Recognizing corporate processes - entrepreneurial process -
6. New Models of Leadership THE LEADERSHIP NEEDS OF ORGANIZATIONS The ability to: build confidence build enthusiasm
7. New Environment & Strategic Change Why are many companies surprised by changes in their industry environments?
8. Factors that Contribute to Lack of Responsiveness Managerial thinking and environmental change. Managers fail to anticipate
9. Factors that Contribute to Lack of Responsiveness The problem of noticing. Interpretation of data. Limits in
10. Factors that Contribute to Lack of Responsiveness Failures in organizational learning also limit organizational adaptation and
11. Factors that Contribute to Lack of Responsiveness Lower-level learning Characterized by improvements in or refinements of
12. Factors that Contribute to Lack of Responsiveness Without higher-level learning, firms can fall into “competency traps.”
13. Factors that Contribute to Lack of Responsiveness Two factors influence the extent of higher-level learning: Higher-level
14. Factors that Contribute to Lack of Responsiveness Organizations can overcome the dangers of like-minded thinking in
15. Factors that Contribute to Lack of Responsiveness Power of industry influences in limiting organizational change. Industry
16. Factors that Contribute to Lack of Responsiveness Summary: 4 factors can limit responsiveness of managers to
17. Strategic Planning Processes Advantages of strategic planning: Allow firms to determine what needs to be done
18. Strategic Planning Processes Problems or limitations associated with strategic planning. Planning often fails to acknowledge the
19. Strategic Planning Processes (cont.) Planning data are often used -- incorrectly -- for evaluating the performance
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Слайд 2

Directions in Strategic Management Practice
Key trends of the 1990s :
Quest

for shareholder value
Adjusting to turbulence

Major influences on strategy :
Resources, capabilities, and “core competences”
Dynamic aspects of competition ---game theory, Schumpetarian competition
Competitive advantage through networks, standard, & bandwagons
Modern financial analysis---shareholder value, economic profit, option theory

Outcomes :
Cost cutting : Shift to dynamic sources of efficiency
Refocusing on performance management and performance incentives

Слайд 3

New Directions in Strategic Thinking
BEYOND DOWNSIZING
Gains from cost cutting and downsizing

largely exhausted
Need to access new sources of profitability

IMPLICATIONS :
Emphasis on more complex sources of competitive advantage requires development of architectural or meta capabilities
Emphasis on learning
Need for new organizational forms e.g. interest in self-organization

Слайд 4

Knowledge Management and the Knowledge-Based View of the Firm
KNOWLEDGE UTILIZATION
Need to

identify knowledge with the firm ---- role of knowledge audits, competency modeling, knowledge libraries, identification of best practices
Need to transfer knowledge
Critical distinction between tacit and explicit knowledge
Need to transform tacit into explicit knowledge
Design of organization structure to optimize knowledge use location of knowledge and decision making; knowledge integration through teams; modular structures
KNOWLEDGE CREATION
Traditional view knowledge created through research
Nonaka Knowledge creation through knowledge conversion (explicit tacit; individual firm

Слайд 5

New Organizational Forms
Process-based organizations Organizing around business
processes
Recognizing corporate processes
- entrepreneurial process

- competence building process
- renewal process

Parallel structures separate structures of separate management processes e.g. 3M, TQM, change management process

Project-based organization engineering cos., consulting cos., also manufacturing cos. e.g. Oticon

Network and Virtual Organization the boundaryless corporation e.g. Sun Microsystems, Cisco Systems, Italian clothing manufacturers

Слайд 6

New Models of Leadership
THE LEADERSHIP NEEDS
OF ORGANIZATIONS
The ability to:

build confidence
build enthusiasm
cooperate
deliver results
form networks
influence others
use information

THE REQUIRED
COMPETENCIES OF
BUSINESS LEADERS
business literacy
creativity
cross-cultural
effectiveness
empathy
flexibility
proactivity
problem-solving
relation-building
teamwork
vision

Слайд 7

New Environment & Strategic Change
Why are many companies surprised by changes

in their industry environments?
Key premise is that all business environments are in a state of change.
Many managers are unable to see industry changes or to appreciate the impact of those changes on their industry.

Слайд 8

Factors that Contribute to Lack of Responsiveness
Managerial thinking and environmental change.
Managers

fail to anticipate or adequately respond to change for three reasons:
They simply fail to notice the changes.
Managers can be aware of changes, but they fail to interpret these changes correctly.
Even if some managers notice the changes and they interpret them correctly, they might still fail to adopt an appropriate course of action.

Слайд 9

Factors that Contribute to Lack of Responsiveness
The problem of noticing.
Interpretation of

data.
Limits in organizational action.

Слайд 10

Factors that Contribute to Lack of Responsiveness
Failures in organizational learning also

limit organizational adaptation and change.
Firms that only use lower-level learning are vulnerable to being blindsided by new rivals, technologies, and products.

Слайд 11

Factors that Contribute to Lack of Responsiveness
Lower-level learning
Characterized by improvements in

or refinements of existing beliefs, understandings, and organizational processes.
Higher-level learning
Developing totally new beliefs, understandings, and organizational processes.

Слайд 12

Factors that Contribute to Lack of Responsiveness
Without higher-level learning, firms can

fall into “competency traps.”
Unfortunately, most firms allocate more resources to lower-level learning.

Слайд 13

Factors that Contribute to Lack of Responsiveness
Two factors influence the extent

of higher-level learning:
Higher-level learning is most likely to result from problemistic search.
Second factor which is important to success of higher-level learning is absorptive capacity.

Слайд 14

Factors that Contribute to Lack of Responsiveness
Organizations can overcome the dangers

of like-minded thinking in at least two ways.
Give greater attention to “contrarian voices.”
Encourage greater turnover among top management ranks.

Слайд 15

Factors that Contribute to Lack of Responsiveness
Power of industry influences in

limiting organizational change.
Industry norms and standards (the so-called “common body of knowledge”) can blind managers to new opportunities, technologies, and potential competitors.

Слайд 16

Factors that Contribute to Lack of Responsiveness
Summary: 4 factors can limit

responsiveness of managers to industry changes:
Problems associated with noticing, interpreting, and responding to changes.
Tendency for managers to emphasize low-level learning over high-level learning.
Tendency for organizational hiring and promotion practices to foster homogeneity in managerial thinking.
Power of institutionalized industry practices.

Слайд 17

Strategic Planning Processes
Advantages of strategic planning:
Allow firms to determine what needs

to be done now to maximize future performance.
Provide opportunities for managers to question basic assumptions underlying their firms’ strategies.

Слайд 18

Strategic Planning Processes
Problems or limitations associated with strategic planning.
Planning often fails

to acknowledge the emerging nature of much strategic activity.
Too often planning relies on regression-based forecasting procedures which merely extend present trends into the future.
Strategic planning process typically produces “point estimates” rather than a range of possible outcomes.

Слайд 19

Strategic Planning Processes (cont.)
Planning data are often used -- incorrectly --

for evaluating the performance of management personnel.
Incentives often awarded to executives for “meeting the plan.”

Strategies for a new millennium

Содержание

Directions in Strategic Management Practice Key trends of the 1990s :Quest

New Directions in Strategic ThinkingBEYOND DOWNSIZINGGains from cost cutting and downsizing

Knowledge Management and the Knowledge-Based View of the FirmKNOWLEDGE UTILIZATIONNeed to

New Organizational FormsProcess-based organizations Organizing around business processes Recognizing corporate processes - entrepreneurial process

New Models of Leadership THE LEADERSHIP NEEDS OF ORGANIZATIONSThe ability to:

New Environment & Strategic ChangeWhy are many companies surprised by changes

Factors that Contribute to Lack of ResponsivenessManagerial thinking and environmental change.Managers

Factors that Contribute to Lack of ResponsivenessThe problem of noticing.Interpretation of

Factors that Contribute to Lack of ResponsivenessFailures in organizational learning also

Factors that Contribute to Lack of ResponsivenessLower-level learningCharacterized by improvements in

Factors that Contribute to Lack of ResponsivenessWithout higher-level learning, firms can

Factors that Contribute to Lack of ResponsivenessTwo factors influence the extent

Factors that Contribute to Lack of ResponsivenessOrganizations can overcome the dangers

Factors that Contribute to Lack of ResponsivenessPower of industry influences in

Factors that Contribute to Lack of ResponsivenessSummary: 4 factors can limit

Strategic Planning ProcessesAdvantages of strategic planning:Allow firms to determine what needs

Strategic Planning ProcessesProblems or limitations associated with strategic planning.Planning often fails

Strategic Planning Processes (cont.)Planning data are often used -- incorrectly --

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