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College notes Strategy (MAN-BCU012) Strategy, ISBN: 9781473765856
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College notes of the course Strategy. Most of it is in English, but some additions are in Dutch
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Strategie hoorcollege aantekeningenLecture 1: introduction (chapter 1) ............................................................................................ 2
Lecture 2: missioning and visioning (chapter 3) ................................................................... 4
Lecture 3: strategizing (chapter 2) ............................................................................................. 9
Lecture 4: strategy formation (chapter 7) .............................................................................. 13
Lecture 5: business level strategy (chapter 4) ..................................................................... 18
Lecture 6: corporate level strategy (chapter 5) .................................................................... 23
Lecture 7: network level strategy (chapter 6) ....................................................................... 28
Lecture 8: strategic change (chapter 8).................................................................................. 32
Lecture 9: strategic innovation (chapter 9) ........................................................................... 37
Lecture 10: international context (chapter 12)...................................................................... 41
Lecture 11: industry context (chapter 10) .............................................................................. 46
1
,Lecture 1: introduction (chapter 1)
Wat is strategie? → het gaat over dilemma’s en paradoxen
Exploratie vs exploitatie
Niveaus van strategie:
→ deze niveaus samen maken de strategie van een
organisatie
2 manieren om naar strategie te kijken:
1) Tools driven (e.g. SWOT, PESTL, BCG)
2) Problem driven
Problem-driven approach used. Key strategy issues are identified and examined from the
perspective of the most appropriate theories
Strategizing = cognitive processes of individual strategists
Missioning and visioning = purpose as the impetus for strategy activities
Missie = waar staat de organisatie
Visie = waar wil je in de toekomst staan
→ kaderen de inhoud van strategie
Strategy content = combined decisions and choices that
lead a company into the future
Strategy process = the manner in which strategies
come about
Strategy context = set of circumstances under which the
strategy content and the strategy process are determined
one optimal solution point
two ‘either-or’ solution points
one optimal solution line
multiple innovative reconciliations
2
,Managing strategy paradoxes
A paradox has no answer or set of answers
Six different ways of dealing with a paradox
1) Navigating – focus on one contrary element at a time (e.g. seeking synergies, then
looking for responsiveness)
2) Parallel processing – separate the contrary demands in different internal or external
organizational units (e.g. improving existing products, meanwhile developing new
generation of products)
3) Balancing – trade off elements of the opposing demands (e.g. following industry
rules vs changing others)
4) Juxtaposing – manage opposite demands (e.g. competing and collaborating (Apple
vs Samsung))
5) Resolving – develop a new synthesis between competing demands ((e.g.
shareholder vs societal value)
6) Embracing – embrace and actively use the tension as a source of creativity and
opportunity (e.g. assigning opposite personalities in management tea
‘Complexity: The nature of real world problems’, from Chapter 1, R Mason and I Mitroff,
Challenging Strategic Planning Assumption:
Strategic Problems are usually wicked
→ uncertainty, ambiguity, interconnectedness, opposing views, conflicting interests
‘Managing strategic contradictions’ Wendy K Smith and Michael L Tushman, ‘Managing
Strategic Contradictions’ Organization Science,Vol. 16(5)
‘Cultural constraints in management theories’, Geert Hofstede, from G Hofstede, ‘Cultural
Constraints in
Management
Theories’,
Academy of
Management
Executive,Vol. 7(1)
Clan
Adhocracy
Hierarchy
Market
3
, Lecture 2: missioning and visioning (chapter 3)
Ronald Coase on Why Firms Exist
• Transaction costs = the “costs of using the price system”
• The main reason why it is profitable to establish a firm would seem to be that there is
a cost of using the price mechanism.
• The size of the firm is not its output (Q) but the number of transactions or activities
within its boundaries.
• Firms exist in order to economize on buying and selling everything.
• Firms exist to reduce transaction costs
Oliver Williamson
Men gaat specialiseren, omdat de handelingen die jij doet goedkoper zijn dan wanneer een
ander dat zou doen
Omvang van organisatie wordt niet bepaald door medewerkers, maar door transacties
Uitbesteden
Armen Alchian, Harold Demsetz → ‘existence of firm’ (1972)
• Firms are formed when benefits can be obtained from individuals working as a team.
• Sometimes the sum of what individuals can produce as a team is greater than the
sum of what they can produce alone.
• Why doesn’t the firm expand forever?
Reorganisaties vaak om de transactiekosten en efficiency
Niet alles is te verklaren met de transactie theorie
What do we mean by an “organization?”
An organization is an association of productive assets (including people) who voluntarily
come together to accomplish a set of goals
In the case of the business organization this goal means gaining an economic advantage
For these productive assets to come together to occur it must be ‘worth it’ for people and
others to be involved with the organization
Corporate mission elements:
- Organizational beliefs
- Business definition
- Organizational values
- Organizational purpose
Missie: identiteit / kompas van de organisatie
→ zorgt voor gedrag van organisatie
Functions of corporate mission:
• Direction
• Legitimization
• Motivation (bepaalde cultuur waardoor
medewerkers gemotiveerd zijn om voor
het bedrijf te werken)
Elements of a strategic vision:
• Envisioned contextual environment
(PESTL analyse, kijken naar de trends)
• Envisioned industry environment
4
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