Introducing Strategy Enterprise Ireland challenges you to grow Dr Brian Harney

Session Structure a) Purpose of strategy and nature of advantage b) Paradigms and fire-fighters c) Brainstorming the direction and scope of your strategy d) Strategic management challenges e) Delivery and learning objectives

© Brian Harney DCU Quest for sustainable competitive advantage “a unique advantage that is still obtained despite competitors’ constant attempts at replication” (Cunningham and Harney, 2012) a) Ultimate Purpose of Strategy

© Brian Harney DCU a) Shells future challenge How long will your oil last?

© Brian Harney DCU a) Transient advantage: Where do you stand? Focused on extending existing advantages RankCapable of coping with transient advantage We tend to extend our established advantages if we can 1 7 We tend to move out of an established advantage early with the goal of moving to something new We try to avoid failures, even in uncertain situations 1 7We recognize that failures are unavoidable and try and learn from them We budget annually or for even longer 1 7We budget in quick cycles, either quarterly or on a rolling basis We like to stick to plans once the are formulated 1 7We are comfortable in changing our plans as new information comes in Innovation is an on-again, off-again process 1 7Innovation is an on-going, systematic core process Our best people spend most of their time solving problems and handling crisis 1 7Our best people spend most of their time working on new opportunities It isn’t easy to be candid with our senior leaders when something goes wrong 1 7We find it very easy to be candid with senior leaders when something goes wrong

b) Drop your tools: Mann Gulch and South Canyon Proxy for unlearning, adaptation and flexibility Exploring the explanations

b) Drop your tools: An analogy for change and growth Enterprise Ireland Growth Hub Finale Bootcamp  Listening  Justification  Trust  Control  Skill at dropping  Familiarity with alternative  Failure  Social dynamics  Consequences  Identity

c) Brainstorming the direction and scope of your strategy

© Brian Harney DCU c) Brainstorming the direction and scope of your strategy

c) Brainstorming the direction and scope of your strategy Products/Services

d) Strategic management challenges By strategy, I mean a cohesive response to a challenge. A real strategy is neither a document nor a forecast but rather an overall approach based on a diagnosis of a challenge. The most important element of a strategy is a coherent viewpoint about the forces at work, not a plan (Rumelt, 2009: 35)

d) Strategic management challenges

e) Delivery and learning objectives Digital Natives

e) Delivery and learning objectives  reflect and evaluate ‘organisational readiness for growth’  analyse current strategy and vision (orientation)  assess external opportunities and strategic positioning (relevance)  critically evaluate the internal capabilities of the organisation and how these may be leveraged for growth (trade-off)  align the management team and wider organisation to execute strategy (execution) Leadership Lessons Leadership Lessons  assess the underlying factors of organisational design & structure (execution)

Cautionary tale of the Kakapo Adams, D., & Carwardine, M The last chance to see: Arrow Books.

Strategy as a prototype “We shall not cease from exploration and the end of all our exploring will be to arrive where we started and know the place for the first time” T.S. Eliot