Introduction
The Strategic Management Process
Generic versus Specific Strategy
Corporate Planning
Corporate Planning Process
Balanced Scorecard
Looking at Uncertainty
Strategic Management; The Johnson, Scholes and Whittington Approach
Self-awareness
Strategic Management Tools
Johnson and Scholes Paradigm ‘The Cultural Web’
McKinsey 7-S Model
Mintzberg’s 5-P’s of Strategy
Putting it Together: The Sweet Spot
The Environment: Strategic and Competitor Analysis
Customer Awareness
Tools for Analysing the Environment
SWOT
PESTEL
Porter’s Five Forces
Ohmae’s 3-C’s
Porter’s Generic Strategies
Bowman’s Strategy Clock
Treacy and Wiersma
Kotler
Ethics
References
Strategic Management; The Johnson, Scholes and Whittington Approach
The objective of this approach is to achieve better alignment between corporate policies and strategic priorities. Strategic management is primarily concerned with creating systematic analyses of factors associated with internal and external environments. Together with scenario planning this should provide the basis for maintaining optimum management practices. Scenario planning techniques in turn consist of drivers and assumption’s like ‘What are we measuring and why is it important’? Together with some brainstorming the drivers can be brought together into a viable framework after which probabilities, patterns, connections can be sought to produce initial mini-scenarios. These can be drafted and even flow diagrams produced to identify the various issues arising. The fundamental challenge that faces strategists is whether all approaches can be used in an organisation. This in turn depends on, for example, is the organisation Global, an SME? Is the marketplace in which it operates an evolving or static one? Added to these questions, it is important to keep in mind that there are levels of strategy at play and it is incumbent on the strategist to understand which levels best fit the requirement. The various levels of strategy can be formulated as: ⦁ Corporate level: Overall purpose and scope of an organisation. ⦁ Business level: How to compete successfully in particular markets. ⦁ Strategic business unit (SBU): Part of an organisation for which there is a distinct market for services and goods independent of any other SBU. ⦁ Operational strategies: How the component parts of an organisation deliver effectively the corporate and business level strategies in terms of resources, processes and people.