TRANSFORMING CORNER OFFICE STRATEGY INTO FRONLINE ACTION- An effective strategic principle forces trade-offs, tests, and sets clear boundaries within which employees operate and experiment- Mission is different from strategic principle. I would highly recommend this book for those with business backgound (either their own, or have been working for the past 5 years or so).
The former is aspirational statement, the latter call to action.- Creating and communicating strategic principle:o Draft a working SP by summarizing corporate strategy in a brief phraseo Test its endurance. I don't know if this could be called a 'book' in all the extension of the word, but this is one of the most instructive books I've read in my life (although I haven't read that much).
Is your company spending too much time on strategy development—with too little to show for it?
If you read nothing else on strategy, read these 10 articles (featuring “What Is Strategy? We've combed through hundreds of Harvard Business Review articles and selected the most important ones to help you catalyze your organization's strategy development a Is your company spending too much time on strategy development—with too little to show for it?
Everyone knows the decisions and actions they are responsible for.
This encourages high-level managers to reject operational decisions. Information needs to be clear from top to bottom, with speed.- Motivators. If I have only 1 hour to work, here’s what I’m going to focus on.- Continuously monitor performance- Reward and develop execution capabilities10. RAPID decision model for different roles.- Recommend- Agree- Perform- Input- Decide This is just an amazing set of articles around strategy.
To scare off this force, do specification for parts.- Power of buyers forced the business in case of only few buyers, products are standard, few switching costs among vendors, buyers join the industry.
To limit the threat, provide better customer service.- Threat of substitutes occurs with attractive price performance, and when buyer’s cost of switching is low.
On the other hands, Strategy is an essential for every enterprise wanting to outstand from the crowd.
Strategy is to perform different activities, or to perform same activities in different ways.- There are 3 sources of Strategy: customer-based (IKEA), access-based (Carmike Cinemas), variety-based (many choices)- A strategy must be persistent with time.