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Strategy 491 Strategy Implementation

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Strategy 491 Strategy Implementation

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  1. Strategy 491 Strategy Implementation Session 1: Introduction to Implementation

  2. Agenda • Intro • Mark Hurd @ Hewlett Packard • Strategy & Implementation • Course Introduction • Class Introduction Course Website: http://faculty.fuqua.duke.edu/~charlesw/s491/

  3. There are many more profitable ideas than profitable companies.

  4. You’re trained in strategic and financial analysis. 5 Forces Balance Sheet Capabilities $DCF$

  5. After the MBA you’ll need to do more than analyze. • Image not licensed for web distribution. • Link here.

  6. You want to deliver strategic results for companies. Photo from Sea Turtle’s photostream, creative commons license: http://www.flickr.com/photos/sea-turtle/3048817422/

  7. We’ll study execution at a variety of firms.

  8. What were Hurd’s biggest challenges at HP? & what do you think of Fiorina’s tenure?

  9. What do you think strategy fundamentals tell us about HP?

  10. What’s your assessment of Hurd’s approach at HP?

  11. Hewlett Packard: My Take

  12. Break 15 minutes

  13. Durable performance comes from more than good positioning.

  14. Industry Position vs. Capabilities

  15. Where do capabilities come from? • People • Processes • Learning => Implementation & Execution

  16. New strategies are doomed without new organization. Chaos New Strategy + Old Organization Old Strategy

  17. Execution is more important than ever.

  18. The business climate is tough.

  19. And missteps can be brutal. Photo from Denis Gustavo’s photostream, Creative commons license: http://www.flickr.com/photos/denisgustavo/184941640/

  20. In your next job you’ll need to deliver results… Facing performance gaps… … or opportunity gaps.

  21. This class covers the basic elements of strategy implementation. Strategic Renewal International Applications Session 10 Session 11 Formal Organization Integration Knowledge Informal Organization Session 8 Session 9 Building Blocks Session 7 Planning Partners Projects People Processes Session 6 Session 2 Session 3 Session 5 Session 4

  22. But it’s still analysis! • Issue awareness • Common missteps • Deep dive

  23. The art of implementation

  24. The work of implementation. • Lets talk about the syllabus.

  25. Final Project examples • Changing Strategy with internal groups • ATT, Alcoa Technology Management Review Boards • Overcoming Inertia • GE, Westinghouse, Siemens, Alcatel, Tyco • Knowledge Transfer • Rank Xerox, Intel’s Semiconductor Fabrication (“Copy Exactly”) • Internal Change • Nokia, Ericsson, Lucent, 3M, Intel, xBox (Microsoft) • Structuring for Change & Innovation • P&G, ABB, Shell Oil • Structuring for New Markets • many e.g.’s of retailers and publishers struggling w/online sales – USA Today, Borders (online bookselling), Walmart, etc.; Xerox (& spinoffs Palm, Adobe, etc.), • Alliances • Ford (Bridgestone), Astra (Merck), Corning (Samsung) • Managing Radical Change • IBM, HP, Monsanto, Vivendi • A few examples from the fall class: • Walgreens • J&J • Google • Singapore Airlines • Apple • Microsoft

  26. Wrap Up • Strategy doesn’t add much value to companies without implementation. • New strategies without new organization are doomed. • We’ll explore the basic issues of strategy implementation/execution. • Common missteps • Research/analysis vs. experience & art • I invite you to develop your own approach/philosophy.

  27. About Me

  28. I research the relationship between strategy & structure, largely in the telecom industry. Alfred Chandler, 1962 Strategy Structure My Current Research

  29. Next up: Strategic Planning, Mon 11/3 • Questions • Compare UPS’s 1997 scenario planning exercise and its Horizon 2017 planning exercise. • How would you evaluate them? • What are the key elements of UPS’s approach to strategic planning? • What role was played by the scenarios? • The Charter? • The Centennial Plan? • The Strategy Road Map? • Why was John McDevitt put in charge of “strategic integration”? Should he remain in that role? • Teams • Please email me your teams by next class. • Volunteers for UPS Case Update Presentation? New Millenium Financial? • Talk to me now, or email me tomorrow (Friday). Course Website: http://faculty.fuqua.duke.edu/~charlesw/s491/

  30. Notecard • Name • Reason for taking implementation • Summer job • Goal after MBA • Something memorable about you

  31. Image not licensed for web distribution • Link s