Summary

15/20: strategic management samenvatting (NL+EN)

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Course
Strategisch Management

Institution
Katholieke Universiteit Leuven (KU Leuven)

Deze samenvatting is een mix van Engels en Nederlands. Het is 28 pagina's en bevat alle nuttige informatie dat werd gezegd tijdens de lessen van professor Bruno Cassiman. Behaalde score: 15/20 in eerste zit.

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Uploaded on July 13, 2023
Number of pages 28
Written in 2022/2023
Type Summary

strategic management
strategisch management

Institution
Katholieke Universiteit Leuven (KU Leuven)
Education
Handelsingenieur
Course
Strategisch Management

ellenvanransbeeck

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What is strategy?
What is strategy?

Long term performance of companies
o Wat is de LT visie?
Positioning within your industry
o Delhaize (samengegaan met Albert Heijn) vs Colruyt
o Facebook vs LinkedIn
Choosing target market
o Wie is de klant? Wie willen we aantrekken?
o Harley Davidson vs. Ducati
Resources & capabilities
o Apple (goed combineren hardware + software) vs Google (search)
Globalization
o Ab Inbev met internationale bieren
Competition and market entery
o Winst colruyt achteruit gegaan door nieuwe spelers
Technology convergence
o Apple kijkt naar elektrische wagens
Irreversibility of decisions
o Boeing investeert miljarden in vliegtuigen: je kan niet terugkeren
o Als je het kan omkeren, dan gaat het misschien niet over strategy
Sustainability
o Gaat niet over ecologische duurzaamheid, maar over hoelang blijven bedrijven bestaan
Non-market strategies
o Airbnb (in Barcelona kan je geen apartementen meer kopen omdat iedereen ze opkoopt
en verhuurt)
o Kijk naar meer dan alleen markten
Communities
o Eve (game): klanten/gebruikers zitten in raad van bestuur, hoe gaan we hier mee om?
Corporate Social Responsibility of big companies
Corporate strategy
o Kinepolis neemt andere cinema’s over, hoe nuttig is dit?
Not only Profitabililty
o Ook musea, ziekenhuizen, stripotheken kunnen een stratgie vormen
Leadership, Communication & alignment
o Elon Musk: hij volgde zijn strategisch plan

The roles of strategy
1. As decision support
2. As coordinating device
3. As a target (richtinggevend)

,Strategic decisions
= important decisions for direction of organization

Interdependence (recent artikel) = afhankelijkheid van verschillende beslissingen
• Internal coordination with other decisions is necessary to achieve coherence (binnen een
organisatie) and consistency (over de tijd heen)
o Fit & trade-offs (je moet keuzes maken)
o Hard to reverse decisions with important commitment effect (effetcten op toekomst)
§ Size of investment
§ Timing of decision
• External interpendence: reaction from competitor/other players
o Depends on the number of players (see game theory)

Which decisions are strategic?
= if it is investigated/ announced as part of optimal strategy

Different players make decisions with only local info
à Max the return from their individual decision
• Standalone value of a decision: aplha
o Vb: marketing departement kiest voor betere klantenservice
• Interaction value of a decision: gamma
o Vb: sales en logistiek departement samen coördineren voor totale waarde
o there are many choices of decisions: we assume that the probability that a random
selected decision is coordinated = 0

Indien geen coördinatie: max waarde te bereiken =
0,8 + 0,3 + 0,1 = 1,2

Welke beslissing is strategisch?
De CEO (strateeg) kijkt naar optimale beslissing voor
marketing (C2): zij kiezen beslissing A (hierdoor
kunnen ze 0,3 realiseren).
Operationeel departement (C3) zal coördineren met
marketing want 0,8 > 0,1.
Product development (C1) zal niet coördineren.
Max waarde: 0,3 + 0,8 + 0,8 = 1,9
Waarde van de strategie is 0,7

Maar is marketing de strategische strategie? Nee. Product development is dit. 0,8 * 3 = 2,4

Strategy is valuable if alignment of coordination is needed.
Strategie heeft alleen maar waarde als er gecoördineerd kan worden. Het gaat over beslissingen in
de toekomst. De grote waarde van strategie is de coördinatie van beslissingen binnen/buiten het
bedrijf. Welke beslissing gaan we aankondigen? Welke is strategisch? Deze geeft richting aan alle
andere beslissingen. Je kan niet elke beslissing aankondigen*

Strategy
= set of decisions announced/ investigated by strategist, chooses optimal strategy
= smallest set* of choices to optimally guide (or force) other options

Hoe zinvol is het verleden om naar de toekomst te kijken? Kan een mogelijke richting geven.

, Southpark Gnomes: Phase 1: collect underpants à Phase 2: ??? à Phase 3: profit
Phase 1: Strategy & vision
Things change, best strategy once, not always best strategy => need to adapt mission & vision
e.g. Facebook die missie aanpaste na schandaal Amerikaanse verkiezingenen

Phase 2: Choice of a future
Strategy statement (in 35 woorden)
• Objective
• Scope (What, who, where, how)
• Competitive advantage

Porter: er is een trade-off tussen “kwaliteit” (WTP) en kosten
Als je onder de curve gepositioneerd bent, dan gebruik je je middelen
niet efficiënt

Je kan niet alles zijn, want dan ben je “stuck in the middle”

à Need to make trade-offs
à Importance of coherence & consistency

Strategy heeft verschillende niveau’s
• Functional strategy (strategy vertalen naar functies)
• Corporate strategy (by corporate center)
= in welke businesses wil ik zitten?
• Competitive/business strategy (by SBU = strategic business unit)
= hoe concureer ik in een bepaalde business?

Core questions for strategic view
1. Which trends shape market next years?
2. How well is our portfolio positioning against those trends?
3. Actions necessary to capitalize on trends?

e.g. Henkel: 3 large divisions (detergents, cosmetics & adhesives) with several SBUs
Resultaat van hun strategie: henkel presteerde veel beter dan de markt

Phase 3: implementation

Lot of bad strategy
• Strategy ≠ operational effectiveness ≠ benchmarking ≠ marketing ≠ SWOT analysis
• Often sufficiently integrated with …
o Financial planning (rol van CFO belangrijk voor KT als LT)
o Functional strategies
o Day-to-day operations
• Failure to face problem & make choices (trade-offs)
• Mistaking goals for strategy (ebit 14% is not strategy)
• Fuzzy and fluffy strategic objectives
à Strategy has NO recipes, use careful strategic analysis, thinking & frameworks
à Every consultant own methodology
à Some common frameworks, but no right answers

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15/20: strategic management samenvatting (NL+EN)

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