Business Strategies

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Strategic Management:
Enterprise Strategy
Business Strategy
Tactics to Beat Your Competition

By: Vadim Kotelnikov, Founder, Ten3 Business e-Coach – Inspiration and Innovation Unlimited, 1000ventures.com, 1000advices.com



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"Even if you do see the future correctly, its timing is hard to predict and its implications are uncertain."
– John Kay


5 Strategic Questions
You Should Ask to Understand Where Your Business Is Going
By: Jack Welch
In the last three years, what have your competitors done?... More

10 Rules for Building a Great Business

Surprise markets and competitors by introducing disruptive products... More
3 Strategies of Market Leaders

Visionary Growth Strategies
Vision and Stretch
Competitive and Marketing Strategies
Best Practices... More
Creating Competitive Disruption
7 Strategies
Develop the ability to surprise
Develop ability to move quickly... More
The Methods of Business Strategy Require4:

Looking inward: strategic analysis of the characteristic of your company to identify your distinctive capabilities and surround them with a collection of reproducible capabilities, or complementary assets, which enable your company to sell its distinctive capabilities in the market it operates.
Looking outward: strategic analysis of the industries and markets in which your company operates to identify those markets in which your company's capabilities can yield competitive advantage.
The questions are twofold:
What are the origins and characteristics of the successful fit between capabilities and environment? Why do companies succeed?
How can companies and their managers make that fit more effective? How will companies succeed?

Systemic Innovation
7 Interwoven Areas
Business Innovation
Strategy Innovation... More
At the Business unit Level, the 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 actions such as virtual integration and through political actions
Building strategic partnerships and co-innovating with other business units, partners, and customers.

Strategic Innovation
7 Dimensions
A Managed Innovation Process – combining non-traditional and traditional approaches to business strategy... More

Discover much more!

Smart Corporate Leader
Smart Business Architect
Enterprise Strategies
Competitive Strategies
Sustainable Competitive Advantage
Creating Competitive Disruption: 7 Strategies
7-Part Competitive Strategy of Microsoft
The Role of Intellectual Property Rights (IPR)
The Art of War (by Sun Tzu)
5 Elements of a Competitive Position and 4 Skills of an Effective Competitor
5 Things You Must Know To Win
Planning
Planning an Attack
Strengths and Weaknesses
Innovation
DOs and DON'Ts of a Successful Innovator
IDEO's Innovation Practice Tips
7 Dimensions of Strategic Innovation
3 Criteria To Assess Your Innovation Portfolio
Deciding If Your Innovation Portfolio Has Enough Stretch
Project Management
5 Factors that Make a Project Successful
Ten3 Global Business Learning Report – What leaders strive to excel at
Strategic Management
Free Ten3 Micro-courses
Business Success 360
Ten3 Mini-Courses Presentation: View Download
Strategic Management (75 slides)
SMART Executive (225 slides) ► Demo
SMART Business Architect (150 slides)
3 Strategies of Market Leaders (125 slides)
Sustainable Competitive Advantage (40 slides)
Innovation Strategies (40 slides)

Business Strategy Defined
A full statement of a selected business strategy is a business plan defining:
the company vision
the strategy and tactics that will enable the company to reach those objectives
the resources required, and how they are going to be obtained;
what the main milestones and steps are along the way;
who is responsible for causing each step to occur;
what are the company's business risks and external factors that need to be kept under review for indications that a change in strategy or plan may be required.
Modern Theory of Business Strategy



Strategizing is much more than just visioning, forecasting and planning. In the new rapidly changing economy, all substantive issues of strategy have been redefined as issues of implementation. Today, strategizing is concerned with the match between the internal capabilities of the company and its external environment. "The modern subject of business strategy is a set of analytic techniques for understanding better, and so influencing, a company's position in its actual and potential marketplace".4
As strategy today is a subject of application, rather than a discipline, the obvious underpinning disciplines for strategy are economics and organizational sociology. You should employ them to define a structure in which the process of strategy formulation and its implementation are bound together.
Working On Your Business
"Most businesspeople are so busy working for their business or in their business that they never find time to work on their business. Thus they fail to anticipate what might happen or what they might be able to make happen."9 Unless you regularly schedule time (one-day out-of-the-office meeting a month at least) to work on your business and answer critical questions, you'll never achieve your stretch goals.
Competitive Strategies
To be successful today, your company must become competitor-oriented. You must pursue the right competitive strategy – avoid strengths of your competitors and look for weak points in their positions and then launch marketing attacks against those weak points... More
Building Your Sustainable Competitive Advantage
Sustainable competitive advantage is the prolonged benefit of implementing some unique value-creating strategy based on unique combination of internal organizational resources and capabilities that cannot be replicated by competitors... More

Business Strategy Stretching



To Jack Welch, the legendary former CEO of GE, business strategy stretching is doing the best possible – and then reaching beyond. What Welch calls "stretch" simply means figuring our performance targets "that are achievable, reasonable, and within GE's capabilities. And then raising sights higher – much higher – towards goals that seem almost beyond reach, goals requiring superhuman effort to achieve."8 Often business leaders exceed goals even as they fall short of the stretch. Don't punish, reward them. What's critical is setting the performance bar high enough; otherwise, it's impossible to find out what people can do.




Demo

New Paradigm: Resource-Based Theory
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.4



The resource based view of strategy emphasizes economic rent creation through distinctive capabilities. Economic rent is what companies earn over and above the cost of the capital employed in their business. It is the measure of the competitive advantage, and competitive advantage is the only means by which companies in competitive markets can earn economic rent. The objective of a company is to increase its economic rent, rather than its profit as such. "A company which increases its profits but not its economic rent – as through investments or acquisitions which yield less than the cost of capital – destroys value."4 The perspective of economic rent forces the question 'why can't competitors do that?' into discussion.
The Four Skills of an Effective Competitor
Excerpts from the "Art of War", Sun Tzu, app. 500 BC
Vision: the ability to foresee the future... More
The Seven Dimensions of Strategic Innovation
The Strategic Innovation framework weaves together seven dimensions to produce a range of outcomes that drive growth.
A company's Organizational Readiness may drive or inhibit its ability to act upon and implement new ideas and strategies, and to successfully manage operational, political, cultural and financial demands that will follow... More
Case in Point 7-Part Competitive Strategy of Microsoft
Although Bill Gates, Founder of Microsoft, built his empire on technological products, his business mastery is even more important than his technical skills, and his competitive urge is a huge driving force.
The early success of Microsoft was founded on the company's 7-part competitive strategy... More

Discover much more in the FULL VERSION of e-Coach
Business Strategy in the New Knowledge Economy...
Dynamic Enterprise Strategy...
Strategy Innovation: Evolution of a Successful Strategy...
Business Intelligence...
Technology-oriented Business Strategy Formulation...
Connecting Power...
Strategic Achievement...
Competitive Strategies..,
Competitive War Games...
Flying Beneath the Radar...
Innovation Strategies...
Competitive Disruption...
Cleaner Production Strategy...
Make It Fun...
Four Categories of Business Tactics...
Strategic Project Management (SPM)...
Case in Point GE...
Case in Point Silicon Valley Firms...
Case in Point Amazon.com...
Case in Point Microsoft...
Case in Point Charles Schwab...







References:
Strategic Management, Alex Miller
Strategic Management - Competitiveness and Globalization, M.A. Hint, R.D. Ireland, and R.E. Hoskisson
Strategic Enterprise Management Systems, Martin Fahy
Strategy and the Delusion of Grand Designs, John Kay
Successfully Devising Corporate Plans, Brian Houlden
Changing Strategic Direction, Peter Skat-Rørdam
The Welch Way, Jeffrey A. Krames
Jack Welch and the GE Way, Robert Slater
It's not the BIG and eats the SMALL... it's the FAST that eats the SLOW, J. Jennings and L. Haughton
Managing Complexity, Robin Wood



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