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Key Strategy Tools

The 80+ tools for every manager to build a winning strategy

Vaughan Evans

Publisher: Pearson, 2013 , 358 pages

ISBN: 978-0-273-77796-0

Keywords: MBA, Strategy

Synopsis:

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Key Strategy Tools will help you cherry-pick the most useful approaches for your business, creating a robust strategy that withstands investor scrutiny and becomes your roadmap to success.

Covering 88 models and techniques, framed within an innovative strategy pyramid, this user-friendly manual takes you through each step of the process. Whether analysing your market, building competitive advantage or addressing risk, you'll find the strategic thinking tools you need at every stage.

Table of Contents:

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  • Introduction
    • The Strategy Pyramid
    • How to use this book
    • Business vs corporate strategy
  • Section 1: Knowing your business
    • Overview
    • Essential tools
    1. Identifying key segments
    2. Issue analysis (Minto)
    • Example: British Aerospace's super segment
    • Useful tools
    1. The 80/20 principle (Pareto)
    2. The segmentation mincer (Koch)
    3. 5C situation analysis
    4. SWOT analysis (Andrews)
  • Section 2: Setting goals and objectives
    • Overview
    • Essential tools
    1. Setting long-term goals
    2. Setting SMART objectives
    3. Maximising stakeholder values
    4. Balancing stakeholders interests
    • Example: Which goals count for RBS?
    • Useful tools
    1. Creating shared value (Porter and Kramer)
    2. Economic value added (Stern Stewart)
    3. Balanced scorecard and strategy map (Kaplan and Norton)
    4. Core ideology (Collins and Porras)
    5. Business as a community (Handy)
  • Section 3: Forecasting market demand
    • Overview
    • Essential tools
    1. Sizing the market and marketcrafting (Evans)
    2. The HOOF approach to demand forecasting (Evans)
    • Example: Galileo's hiccup in market demand
    • Useful tools
    1. Smoothing with moving averages
    2. Income elasticity of demand
    3. Survey methods of demand forecasting
      • Survey of customers' intentions
      • Salesforce estimation method
      • The Delphi method
      • Pilot test marketing
    4. Statistical methods of demand forecasting
      • Trend projection
      • Regression analysis
      • Barometric method (NBER)
  • Section 4: Gauging industry competition
    • Overview
    • Essential tools
    1. The five forces (Porter)
    2. Assessing customer purchasing criteria
    3. Deriving key success factors
    • Example: Woolworths succumbs to the five forces
    • Useful tools
    1. Weighing economies of scale
    2. Corporate environment as a sixth force
    3. Complements as a sixth force (Brandenburger and Nalebuff)
    4. PESTEL analysis
  • Section 5: Tracking competitive advantage
    • Overview
    • Essential tools
    1. Rating competitive position
    2. The resource and capability strengths/imprtance matrix (Grant)
    • Example: Cobra Beer's clever competitive advantage
    • Useful tools
    1. The value chain (Porter)
    2. The product/market matrix (Ansoff)
    3. Cross, spider and comb charts
    4. Benchmarking
    5. Structural interviewing
  • Section 6: Targeting the strategic gap
    • Overview
    • Essential tools
    1. The attractiveness/advantage matrix (GE/McKinsey)
    2. The growth/share matrix (BGC)
    3. Profiling the ideal partner
    4. Identifting the capability gap
    • Example: Komatsu targets the cat
    • Useful tools
    1. The strategic condition matrix (Arthur D. Little)
    2. The 7S framework (McKinsey)
    3. The opportunity/vulnerability matrix (Bain/L.E.K.)
    4. Brainstorming
    5. Scenario planning
  • Section 7: Bridging the gap: business strategy
    • Overview
    • Essential tools
    1. Three generic strategies (Porter)
    2. The experience curve (BCG)
    3. Strategic repositioning and shaping profit growth options
    4. Making the strategic investment decision
    5. Blue ocean strategy (Kim and Mauborgne)
    • Example: Could Facebook be undone the way it undid MySpace?
    • Useful tools
    1. The tipping point (Gladwell)
    2. Price elasticity of demand (Marshall)
    3. PIMS (GE/SPI)
    4. The 4Ps marketing mix (McCarthy)
    5. Product quality and satisfaction (Kano)
    6. The hierarchy of needs (Maslow)
    7. The bottom of the pyramid (Prahalad and Leiberthal)
    8. Business process redesign (Hammer and Champy)
    9. Outsourcing
  • Section 8: Bridging the gap: corporate strategy
    • Overview
    • Essential tools
    1. Optimising the corporate portfolio
    2. Creating value from mergers, acquisitions and alliances
    3. The corporate restructuring hexagon (McKinsey)
    4. Creating parenting value (Gould, Campbell and Alexander)
    5. Core competences (Hamel and Prahalad)
    6. Strategically valuable resources (Collis and Montgomery)
    • Example: Virgin's brand as resource-based strategy
    • Useful tools
    1. Strategically distinctive resources (Barney)
    2. Distrinctive capabilities (Kay)
    3. Distinctive competences (Snow and Hrebiniak)
    4. Dynamic capabilities (Teece, Pisano and Shuen)
    5. Deliberate and emergent strategy (Mintzberg)
    6. Stick to the knitting (Peters and Waterman)
    7. Profit from the core (Zook)
    8. The market-driven organisation (Day)
    9. Value disciplines (Treacy and Wiersema)
    10. Disruptive technologies (Christensen)
    11. Co-opetition (Brandenburger and Nalebuff)
    12. Growth and crisis (Greiner)
    13. Good strategy, bad strategy (Rumelt)
    14. Innovation hot spots (Gratton)
    15. Strategy as orientation or animation (Cummings and Wilson)
    16. The knowledge spiral (Nonaka and Takeuchi)
    17. The eight phases of change (Kotter)
  • Section 9: Addressing risk and opportunity
    • Overview
    • Essential tools
    1. Strategic due diligence and market contextual plan review (Evans)
    2. The suns & clouds chart (Evans)
    • Example: Were the Beatles worth the risk?
    • Useful tools
    1. The compositive risk index and the 5x5 risk matrix
    2. The risk management matrix
    3. Expected value and sensitivity analysis
    4. Black swans (Taleb)
    5. Strategic bets (Burgleman and Grove)

Reviews:

Key Strategy Tools

by Roland Buresund last modified 2014-01-21 13:00

Rating: ******** (Very good)

A very comprehensive and well-planned book about different models any aspiring MBA or practicing manager should know.

A very good book to have in your library collection.


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