The concept of Strategy

Felipe Ochoa
Mind Map by Felipe Ochoa, updated more than 1 year ago
Felipe Ochoa
Created by Felipe Ochoa almost 6 years ago
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Mapa mental capítulo 1 Contemporary strategy analysis

Resource summary

The concept of Strategy
  1. It is a unifying theme that gives coherence and direction to the actions and decisions of an individual or an organization.
    1. The Role of Strategy in Success
      1. Effective implementation
        1. Clear, consistent, long-term goals
          1. Profund understanding of the competitive environment
            1. Two examples of successful strategy
                1. Queen Elizabeth II has combined the traditional notions of being a figurehead for the nation, a symbol of British family and cultural life, and an exemplar of service and professional dedication.
                  1. Their ability to respond to events with flexibility and clarity of direction has been central to their success by implementing strategy. It can be observe a consistency of direction based on a clear understanding of desired goals and a keen awareness of how to maneuver into a position of advantage.
                  1. Lady Gaga reflects a career strategy that uses music as her gateway, but she has then built a celebrity status by combining the generic tools of star creation—shock value, fashion leadership, and media presence
              1. Objective appraisal of resources
            2. The Basic Framework for Strategy Analysis
              1. The task of business strategy is to determine how the firm will deploy its resources within its environment and so satisfy its long-term goals, and how it will organize itself to implement that strategy.
                1. Strategic Fit
                  1. refers to the consistency of a firm’s strategy, first, with the firm’s external environment and, second, with its internal environment, especially with its goals and values and resources and capabilities.
                    1. is one component of a set of ideas known as contingency theory, which said that The best way to design, manage, and lead an organization depends upon circumstances
                  2. A brief History
                    1. Many of the principles of military strategy have been applied to business situations.
                      1. to give direction and purpose, to deploy resources in the most effective manner, and to coordinate the decisions made by different individuals.
                      2. The term strategy derives from the Greek word strategia, meaning “generalship.”
                        1. Strategy Today
                          1. is the means by which individuals or organizations achieve their objectives.
                            1. focused on achieving certain goals; that it involves allocating resources; and that it implies some consistency, integration, or cohesiveness of decisions and actions.
                            2. first, by enhancing the quality of decision making, second, by facilitating coordination, and, third, by focusing organizations on the pursuit of long-term goals
                              1. Strategy is a pattern or theme that gives coherence to the decisions of an individual or organization.
                                1. Strategy acts as a communication device to promote coordination Statements of strategy are a means by which the CEO can communicate the identity, goals, and positioning of the company to all organizational members.
                                2. A company’s strategy can be found in three places: in the heads of managers, in their articulations of strategy in speeches and written documents, and in the decisions through which strategy is enacted.
                                  1. Where to compete? How to compete?
                                    1. It’s about having well-trained, friendly people working in our restaurants and the right products at a range of affordable prices. It’s also about showcasing our restaurants as places that are clean, contemporary and welcoming, as well as creating promotions and marketing activities that resonate with key customer groups.
                                  2. How is made strategy
                                    1. Strategy may also emerge through adaptation to circumstances and being a product of insight, intuition, experimentation, and events.
                                      1. Mintzberg suggests only 10–30% of intended strategy is realized being the primary determinant of realized strategy "emergent strategy" which refers to the decisions that emerge from the complex processes in which individual managers interpret the intended strategy and adapt to changing circumstances.
                                        1. The emergent approaches to strategy making permit adaptation and learning through a continuous interaction between strategy formulation and strategy implementation in which strategy is constantly being adjusted and revised in the light of experience.
                                        2. strategy making almost always involves a combination of centrally driven rational design and decentralized adaptation. The design aspect of strategy comprises a number of organizational processes through which strategy is deliberated, discussed, and decided
                                          1. trategy making combines design and emergence
                                          2. The purpose of strategy analysis is not to provide answers but to help us understand the issues and identify, classify and understand the principal factors relevant to strategic decisions.
                                            1. it can help increase our confidence and effectiveness in understanding and responding to new situations and new circumstances.
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