1. Strategic Management Modern Approaches
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Strategic Management
Modern Approaches
for the New Rapidly-changing Innovation-driven Economy
65 PowerPoint slides + 65 Half-page Executive Summaries
Why Strategic Management?
Strategic management is not a task, but a rather a set of managerial skills that should be used throughout the organization, in a wide variety of functions.
Strategic cross-functional management is central to capitalizing on functional excellence, and in order for functional specialists to make the greatest possible contribution, they must take a broader view of their functions and understand how they fit into the web of the organizational processes and, ultimately, into the overall strategy.
New Systemic Approach to Strategic Management
Various narrow strategy schools, often fighting between themselves, favor different single-sided approaches to strategy formulation. They represent both different approaches to strategy formulation and different parts of the same process. Today's managers have to deal with the entire business systems, however, - as opposed to dealing with its different parts independently - not only to keep strategy formulation as a vital force but also to impart real energy to the strategic process. They must practice balanced results-based leadership strategies and apply a balanced approach to business systems.
Certain positive moves in this direction have been seen recently. Some of the more recent approaches to strategy formulation take a wider perspective and cut across the narrow strategy schools in eclectic and interesting ways, for example Learning and Design in the "Dynamic Capabilities" approach, or the “Dynamic Strategy" one based on knowledge working.
The currently dominant view of business strategy – resource-based theory - is based on the concept of economic rent and the view of the company as a collection of capabilities. This view of strategy has a coherence and integrative role that places it well ahead of other mechanisms of strategic decision making.
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© 2007 Vadim Kotelnikov, Inventor, Author & Founder, Ten3 Business e-Coach,

2. Strategic Management Strategy Management: Two Approaches
Modern Approaches for the New Rapidly Changing Innovation-driven Economy
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Strategy Management: Two Approaches
Strategy Schools: An Overview
Environmental Analysis
Strategy Formulation
Strategy Implementation
Strategic Achievement & Strategy Innovation
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© 2006 Vadim Kotelnikov, Inventor, Author & Founder, Ten3 Business e-Coach,

3. Corporate Vision Providing Purpose, Direction and Motivation
Vision is a short and inspiring statement of what your organization intends to become and to achieve at some point in the future.
Corporate Vision May Contain Commitment to:
Creating an outstanding value for customers and other stakeholders
Developing a great new product or service
Developing a great company
Examples of a Corporate Vision GE
We bring good things to life.
Ford Motor Co
To become the world's leading consumer company for automotive products and services.
Microsoft
To enable people and businesses throughout the world to realize their full potential.
Ten3
To create a global Virtual Venture Valley inspiring innovation.
Vision
Vision is a short, succinct, and inspiring statement of what the organization intends to become and to achieve at some point in the future, often stated in competitive terms.
The purpose of articulating a coherent vision of a desirable future in which your organization could thrive is to focus your organization and your partners on those things you could now to bring that future state about. Thus your vision performs both a directional and a motivational function. As a leader developing a vision, you must seek out the ideas and ideals that will inspire your organization and motivate its members to work toward greatness. Vision refers to the category of intentions that are broad, all-inclusive and forward-thinking. It is the image that a business must have of its goals before it sets out to reach them. It describes aspirations for the future, without specifying the means that will be used to achieve those desired ends.
The corporate success depends on the vision articulated by the chief executive or the top management. For a vision to have any impact of the employees of an organization it has to be conveyed in a dramatic and enduring way. The most effective visions are those that inspire, usually asking employees for the best, the most or the greatest. Make sure you keep stretch in your vision, communicate it constantly, and keep linking the events of today to your vision, underscoring the relationship between the two.
"Numbers have little to do with creating a vision of fulfilling a mission; they don't instill corporate values into the minds and hearts of the employees, and they don't provide much help in living up to those values or carrying out the vision. In short, it's not management philosophy, it's just a lot of cheerleading. And cheerleading doesn't turn a company around,“ says Jack Welch. Warren Bennis says: "To choose a direction, an executive must have developed a mental image of the possible and desirable future state of the organization. This image, which we call a vision, may be as vague as a dream or as precise as a goal or a mission statement.“
Brand Vision
In the conventional view, a corporate strategy usually consists of developing an all-encompassing vision. The modern view is that brands now drive business strategy. In fact, brand visions are now replacing corporate visions, so powerful is their impact on profits.
More information at 1000ventures.com: “Vision, Mission, Goals”

4. Mastering Your Enterprise Strategy The Three Hierarchical Levels of Strategy
Strategy is a set of analytic techniques for understanding and influencing your company’s position in the market place
Enterprise strategy is concerned with the match between your company’s internal capabilities and
its external environment
Corporate
Strategy
Business you should be in
Business Strategy
Tactics
to beat the competition
The Three Levels of Enterprise Strategy
Enterprise strategy can be formulated and implemented at three different levels:
Corporate level
Business unit level
Functional or departmental level
At the corporate level, you are responsible for creating value through your businesses. You do so by managing your portfolio of businesses, ensuring that your businesses are successful over the long term, developing business units, and sometimes ensuring that each business is compatible with others in your portfolio.
Products and services are developed by business units. The role of the corporation is to manage its business units, products and services so that each is competitive and so that each contributes to corporate purposes.
Strategy Focus at Different Hierarchical Levels
Corporate Strategy fundamentally is concerned with selection of businesses in which your company should compete and with development and coordination of that portfolio of businesses. Corporate level strategy is concerned with reach; enterprise-wide business process management; competitive contact; managing activities and business interrelationships; and management practices
Business Strategy includes battle plans, tactics used to fight the competition in the industry that your company currently participates in. A strategic business unit may be any profit center that can be planned independently from the other business units of your corporation. At the business unit level, the strategic issues are about both practical coordination of operating units and about developing and sustaining a competitive advantage for the products and services that are produced. The business strategy formulation and implementation deals with positioning and differentiating the business and/or products against rivals; business-level cross-functional process management; anticipating changes in technology and customer perceptions and adjusting the strategy to accommodate them; influencing the nature of competition through strategic and political actions; and building strategic partnerships and co-innovating with other business units, partners, and customers.
Functional Strategy deals with operational methods related to functional business processes and value chain, and value adding activities that you choose for your business. The functional level of your organization is the level of the operating divisions and departments. Functional level strategies in R&D, operations, manufacturing, marketing, finance, and human resources involve the development and coordination of resources through which business unit level strategies can be executed effectively and efficiently.
Functional Strategy
Operational methods
to implement the tactics
More information at 1000ventures.com: “Enterprise Strategy”

5. The Corporate Strategy Logic Strategy Pyramid (old) vs
The Corporate Strategy Logic Strategy Pyramid (old) vs. Strategy Stretch (new)
STRATEGY PYRAMID
Top-down
STRATEGY STRETCH
Top-down + Bottom-up
Strategic Intent
Vision
Mission
Challenges
Goals
Strategies
Opportunities
Tactics
Instead of Introduction
For the vast majority of companies, having well-defined visions and mission statements changes nothing. The exercise of crafting them is a complete waste of time and talent if visions and mission statements are used for nothing but being published in the annual report and displayed in a reception area. To be able to energize employees to work towards corporate goals, visions and missions should be more than a sign on the wall. Executives and managers should live them, be seen living them, and constantly communicate them to their employees.
Vision
Vision is a short, succinct, and inspiring statement of what the organization intends to become and to achieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions that are broad, all-intrusive and forward-thinking.  It is the image that a business must have of its goals before it sets out to reach them. It describes aspirations for the future, without specifying the means that will be used to achieve those desired ends.
Mission Statement
A mission statement is an organization's vision translated into written form. It makes concrete the leader's view of the direction and purpose of the organization. For many corporate leaders it is a vital element in any attempt to motivate employees and to give them a sense of priorities
Setting Goals
The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement. A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.
Strategic Intent
A strategic intent is a company's vision of what it wants to achieve in the long term. It must convey a significant stretch for your company, a sense of direction, discovery, and opportunity that can be communicated as worthwhile to all employees. It should not focus so much on today's problems but rather on tomorrow's opportunities.
Action plans
Old Strategy-based
Business Development Model
Effective in known & stable environment
Builds on existing competencies
New Opportunity-driven
Business Development Model
Effective in new & unstable environment
Builds on new competencies
1000ventures.com

6. Opportunity-driven Business Development Choosing Between Strategy and Opportunity Approach
Use Strategy Approach
Use Opportunity Approach
Known environment
Unknown environment
Stable environment
Unstable environment
Building on existing competencies, capabilities, products, markets
Building on new competences, capabilities, products, markets
Need consolidation
Need rapid growth
Need stability and certainty
Need change, accept uncertainty
Lack capacity for flexibility, corporate venturing, and speed
Established capacity for flexibility, corporate venturing, and speed
Why Opportunity Approach
Adapted from “Changing Strategic Direction," Peter Skat-Rørdam
Opportunity-driven business development is an experimental approach to be practiced by companies facing radical industry or market change. This approach is based on two core beliefs
Most companies possess a wealth of attractive opportunities. Most of these usually remain undiscovered, with only a few ever brought to attention, and in the best case only one or two actually pursued.
Many companies will soon find that it necessary to employ an opportunity-driven and experimental approach to business development, especially in changing industries, simply because the future is so uncertain.
Harnessing the Power of Change
One of the keys to dealing with change is understanding that change in never over. Change brings opportunity to those who can grasp it, and the discontinuities of the new economy offer unlimited opportunities.
The Experimental Approach
Changes in strategic direction come from the pursuit of opportunities rather than from strategic planning. Discovering what works requires that you understand the casual links between inputs and outputs. When it comes to searching for cause-effect relationships, the most suitable model that emerges is the method of experimentation that allows the most efficient scientific progress, the scientific method as a model for discovery.
Reaching for the Strategic Intent
In today's era of rapid change, you cannot lay out a detailed plan for realization of your strategic intent. There are too many elements of uncertainty and situation both outside and inside your company keeps changing. Strategic intent should thus convey a sense of direction that can be used to identify major tasks.
Adapted from “Changing Strategic Direction”, Peter Skat-Rørdam
1000ventures.com

7. Strategic Management Strategy Programming vs. Strategy Innovation
Analysis & Strategic Learning
Analysis
Strategy
Formulation
Strategy
Implementation
Dynamic Strategy Formulation
Experimental Strategy Implementation
AREAS OF EFFECTIVE APPLICATION
CONDITIONS
STRATEGY PROGRAMMING
STRATEGY INNOVATION
Environment
Simple & stable
Complex & dynamic
Organization
Unadaptive
Adaptive
Change
Slow
Fast
Innovation
Incremental
Radical
Strategy Management Defined
Strategy management is the process of ensuring that your organization possesses and benefits from the use of an appropriate organizational strategy best suited to its needs at a particular time.
Strategy Programming versus Strategy Innovation
In strategic programming, you can realistically separate planning and doing, strategy formulation and implementation.
In strategy innovation, you assume that you cannot realistically tell in advance how the future will unfold or what will work, and  therefore intertwine formulations and implementation, continually adjusting your strategy as you gain new insights through an experimental trial-and-error process of learning by doing.
What is Strategy Innovation?
Strategy innovation is about challenging existing industry methods of creating customer value in order to meet newly emerging customer needs, add additional value, and create new markets and new customer groups for the sponsoring company.
Reinventing an Industry
Reinventing an industry involves changing an industry's competitive rules, developing completely new products or services, or changing the fundamental financial relationships between companies in your value chain.
Dynamic Strategy as a Source of Sustainable Competitive Advantage
The source of sustainable competitive advantage is the pursuit of an evolving strategy that cannot be easily duplicated by competitors. To be successful in today's world of rapid change, strategy must be dynamic. Executives of fast-moving companies reassess their strategy continuously to ensure that it reflects the changes in the business environment, the company, and its goals.
© Vadim Kotelnikov
1000ventures.com

8. a half-page Executive Summary (5 slides only, no Executive Summaries)
Strategic Management
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a half-page Executive Summary
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Instead of Introduction
For the vast majority of companies, having well-defined visions and mission statements changes nothing. The exercise of crafting them is a complete waste of time and talent if visions and mission statements are used for nothing but being published in the annual report and displayed in a reception area. To be able to energize employees to work towards corporate goals, visions and missions should be more than a sign on the wall. Executives and managers should live them, be seen living them, and constantly communicate them to their employees.
Vision
Vision is a short, succinct, and inspiring statement of what the organization intends to become and to achieve at some point in the future, often stated in competitive terms. Vision refers to the category of intentions that are broad, all-intrusive and forward-thinking.  It is the image that a business must have of its goals before it sets out to reach them. It describes aspirations for the future, without specifying the means that will be used to achieve those desired ends.
Mission Statement
A mission statement is an organization's vision translated into written form. It makes concrete the leader's view of the direction and purpose of the organization. For many corporate leaders it is a vital element in any attempt to motivate employees and to give them a sense of priorities
Setting Goals
The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement. A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.
Strategic Intent
A strategic intent is a company's vision of what it wants to achieve in the long term. It must convey a significant stretch for your company, a sense of direction, discovery, and opportunity that can be communicated as worthwhile to all employees. It should not focus so much on today's problems but rather on tomorrow's opportunities.
Click here to see the complete set Ten3 Mini-courses
1000ventures.com