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Current Trends in Strategi c M anagement

Contemporary Strategy Analysis , 6 th edition by Robert M. Grant. Current Trends in Strategi c M anagement. New realities of the new century The strategy model of the 1990s—no longer working Forces shaping 21 st century business strategies

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Current Trends in Strategi c M anagement

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  1. Contemporary Strategy Analysis, 6th edition by Robert M. Grant Current Trends in Strategic Management • New realities of the new century • The strategy model of the 1990s—no longer working • Forces shaping 21st century business strategies • Emerging developments in strategy, structure, management systems, and leadership OUTLINE

  2. New Realities of the 21st Century • Collapse of New Economy • Dot.com bubble bursts • TMT recession • Corporate Scandals • Enron, WorldCom, Parmalat • Excessive executive pay • Sept. 11, 2001 • Invasion of Afghanistan & Iraq • Middle East mayhem • Shrinking status and influence of the USA • International • competition intensifies • Rise of BRIC (Brazil, Russia, • India, China) • Fragility of • Natural Environment • Global warming • Water shortages • Decline of • Multilateralism • Collapse of Doha round • Trade wars between US, EU, China • Weakening of UN • Fear of Disease • SARS, Mad Cow, Bird Flu • Market instability • Currencies • Commodity prices

  3. The Strategy Model of the 1990s • Major Themes of Business Strategy: • Cost cutting—squeezing • overhead,business process re- • engineering, increasing labor • productivity • Outsourcing/refocusing/ • divestment • Performance management and • incentive alignment • Key Trend of the 1990s: • Quest for shareholder value • Influential Strategy Concepts: • Modern financial analysis • —shareholder value, economic profit, • option theory • Core competences and intangible • assets • Dynamically competitive markets • (“hypercompetition”) –competitive • advantage requires speed, • entrepreneurship, alliances, control • of standards

  4. Forces Currently Shaping Company Strategies • Future Sources of Profit • Limits of downsizing/cost cutting • Where are future sources of • profit? • The Business • Environment • Uncertainty • Intense competition • Concepts & Theories • Resources & capabilities as • basis for competitive advantage • Knowledge-based theory • of the firm • Option theory • Complexity theory • Technology • Digitization • Convergence • Demands of society • Social & environmental responsibility • Ethics & fairness • Quest for meaning

  5. Emerging Developments • STRATEGY • Firm goals: rethinking profit maximization • Multiple competitive advantages/multiple capabilities • Role of innovation: Developing new products & new • businesses • Strategy as creating & managing options • ORGANIZATION • STRUCTURE • Reconciling flexibility • & integration • Multidimensional structures • Informal organization & • self-organization • Modular structures • MANAGEMENT SYSTEMS • Knowledgemanagement • (incl. best-practice transfer) • Redesigning incentive systems • Rethinking performance management • Capturing human creativity • New approaches to leadership NEW MODELS OF LEADERSHIP

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