Bla Bla ? CBS 102: Lessons in Strategy Development

To create a robust corporate strategy, organizations must conduct strategy development that starts with a clear understanding of its business positioning and identified strategic barriers to growth. The next steps include forming what the future state vision of the company is and then delving into the details of planning how to get to that state. To properly gauge and analyze your strategic challenges, you must begin with a comprehensive current state understanding of your situation. Proper strategy development involves more than a focus on maximizing profitability. Strategy is about value innovation, strategy is about selectivity, and strategy is about flexibility.

An important tool used in strategic planning is scenario planning. An important task in the scenario planning framework is defining the primary axes of uncertainty after building a 2-axis scenario map. Scenario planning is also called scenario thinking and scenario planning analysis. Scenario planning is used to help businesses plan for and make flexible future estate corporate plans. Oftentimes, the scenario planning process is performed in a workshop environment, where decision makers, executives, subject matter experts, and externaladvisors, are gathered in a 2-3 day off-site location to decide on various future state situations.

Bower emphasizes the strategic planning and budgeting processes are in the focus of the strategy development process. Strategic intent is defined as the perceived and communicated corporate strategy. Capital market context is also looked at, which is defined as demands and influence of providers, including investors. Bowers school of thought is called the Resource Allocation Process RAP business framework. Resource allocation based strategy planning and budgeting is a bottoms up driven way to identification and picking of business priorities. Within the Resource Allocation business framework, when market context is discussed, we are evaluating the demands of the existing customers,and technology development. Organizational context is composed of organizational governance and the org structure, basis of performance metrics and rewards, and managements core beliefs and strategic frames.

The way business leaders evaluate and analyze strategy within that of modern business organizations has been shaped by militant strategists since 400BC when Sun Tzu wrote the Art of War. Sun Tzu preached to know and attack the enemys strategy. In Sun Tzus Art of War, he wrote about several fundamental factors in military strategy and each of these factors relates to a popular concept of business strategy. Sun Tzu hinted at indirect strategies when Sun Tzu proclaimed winning without fighting is the highest of skill on the battleground. Sun Tzus thoughts about the factor of terrain, in todays business landscape, translates to markets, industry structures, market positions, and industry forces.

In the strategy development process, it is noteworthy to point out that your company should conduct rigorous market analysis. Doing proper market analysis involves both supply analysis and demand analysis, which includes segmentation and segment analysis, understanding consumer buying behavior, and industry analysis. There are also several market place analysis characteristics, including market place sizing, pricing changes, research and development, market place characteristics, market force structure, and current trends. Proper market analysis involves defining the market size and the study scale, understanding the core industry issues, and planning for the future. There are several market environment analysis characteristics, including ones that are socio-demographic, economic, legal, technological, and current trends. It is important to understand what makes a market unique, such as a high degree of regulation, high competitive fragmentation, and importance of R&D.

In current thinking, there are two pillars around strategy management. Henry Mintberg also advocates a transformation of business processes, where management recognizes the need and has the ability to manage organizational business process improvement. Mintzberg proposes for an organization, bottom-ups process to drive business strategy development that hinges upon organizational configuration. In organizational configuration, the organization takes on behaviors based on adaptation to contexts.

Strategy development has evolved through 5 key stages over the years. A lot of competitive strategy is also hinged on ideas in the 1970s, where the core theme was around thinking strategically to beat competition and the business frameworks of alternative strategies, portfolio analysis, and the BCG Growth Share Matrix emerged. Shifts in strategic mindset represent an ever evolving, new business leaders, and emergence of disruptive technologies and trends. Business strategy development started with a focus on financial planning in the 1950s, moving to sustainable business planning in the 1960s, to strategic planning in the 1970s and eventually to a focus on strategic management in the present day. In the current day, the strategic development theme is on integrating strategic planning and execution with a stress on the primary notions of core competencies, strategy planning and execution, and balance scorecard analysis.
Strategy Development

Source: http://blasite.com/2011/09/cbs-102-lessons-in-strategy-development/

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