With the COVID-19 pandemic, many business leaders question the need for strategy and the value of strategic planning and management in today’s environment. This book will demonstrate that our approach to strategy development and implementation needs to change to be able to help organizations change. The proposed new approach in this book can provide insights and perspectives to keep strategy relevant by "Putting Strategy in Action" through developing a "Making the Future Happen Today" way of thinking and living.
Many strategy books focus on the perspective of large multinational corporations that have the capacity and capabilities to develop and implement a strategy using very structured methodologies and tools. This book will add a new dimension by focusing on the use of Strategy-as-Practice (SaP), intuition, and serendipity as important complements that can be used by large corporations as well as small- and medium-sized enterprises (SMEs) and entrepreneurs to develop and implement winning strategies. This is an important dimension to support the strategic decision-making process that is frequently undermined in traditional strategic planning and management-focused books.
The author theorizes that developing into a Strategy Savvy professional is about embracing two of the most important concepts in strategy development―Proactivity and Sustainability. This book addresses the opportunities and threats presented by VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) and how we can capitalize on those opportunities to create unprecedented growth opportunities in Society 5.0 that is shaping new economies, such as the Digital Economy, the Experience Economy, the Sharing Economy, the GIG Economy, the Purpose Economy and the Circular Economy. The author also proposes a new approach to strategy development and implementation that mixes formal planning with practice and intuition that is helped by serendipity. He presents a strategy that is driven by four propellers―insights, culture, operations, and digitization―to ensure arrival at a better future.
Author(s): Hesham Dinana
Publisher: Routledge/Productivity Press
Year: 2022
Language: English
Pages: 261
City: New York
Cover
Half Title
Title Page
Copyright Page
Dedication
Table of Contents
Preface
Acknowledgments
About the Author
Section 1 Why Do We Need Strategy?
Chapter 1 Do We Really Need to Have a Strategy?
1.1 Making the Future Happen Today
1.2 The VUCA World
1.2.1 Managing in Extreme Uncertainty
1.2.2 Operating in Crisis Mode: Discover, Design, and Execute
1.3 Does Strategy Matter?
1.4 Strategize or Vanish
1.4.1 How Nokia Lost the Smartphone Battle?
1.4.2 The Fall of Kodak
1.4.2.1 Why Did This Happen?
References
Section 2 How Does Strategy Emerge?
Chapter 2 The History and Future of Strategy
2.1 The History of Strategy
2.2 The Future of Strategy
References
Chapter 3 Planning, Practice, Intuition, and Serendipity
3.1 Sustainable to Transient Competitive Advantage
3.2 Formal Strategizing
3.2.1 So, What Can Formal Strategizing Achieve?
3.3 Strategy-as-Practice
3.3.1 Three Concepts of Strategy-as-Practice
3.4 Intuition in Strategy
3.4.1 The Role of Intuition in Managerial Context
3.5 Serendipity as Competitive Advantage
3.5.1 A Framework for Serendipity
References
Section 3 What Does the Future Hold?
Chapter 4 Society 5.0 and the Future Economies
4.1 The D.A.R.Q. Age
4.2 The Evolution of Society 5.0
4.3 The Digital Economy
4.3.1 Digital Economy Framework
4.3.1.1 Foundations
4.3.1.2 Technologies and Digital Concepts as Catalysts of Digital Economy
4.3.1.3 End Users
4.4 Future Economies
4.4.1 The Experience Economy
4.4.1.1 Experience Is King
4.4.1.2 How to Deliver Exceptional Customer Experience?
4.4.2 The Sharing Economy
4.4.2.1 Putting the Sharing Economy in Action
4.4.3 The GIG Economy
4.4.3.1 GIG Economy Growth Drivers
4.4.3.2 Disrupting the Traditional Talent Model
4.4.4 Circular Economy
4.4.4.1 The Restart Project
4.4.4.2 Circular Economy for SMEs
4.4.4.3 Six Business Benefits of Circular Economy for SMEs
4.4.4.4 How to Transform Your Vision into Results in Circular Economy
4.4.5 The Purpose Economy
4.4.5.1 Personal Purpose
4.4.5.2 Social Purpose
4.4.5.3 Societal Purpose
4.4.5.4 The Rise of Social Entrepreneurship
4.4.5.5 Why Purpose-Driven Organization Matters
4.5 The Five Walls
References
Section 4 What to Do to Put Strategy in Action
Chapter 5 Strategy Savvy: Define the Future and Understand Today
5.1 Strategy Savvy
5.1.1 The Five-Step Savvy Model
5.2 The Strategy Funnel: From Vision to Results
5.3 Define the Future
5.3.1 Financial Objectives
5.3.2 Market Objectives
5.3.3 Operational Objectives
5.3.4 Organizational Objectives
5.4 Understand Today
5.4.1 SWOT Analysis—Simple But…
5.4.2 EBOR Framework
5.4.2.1 Enablers and Blockers
5.4.2.2 Options and Reactions
5.5 Strategic Early Warning System
References
Chapter 6 Making the Future Happen Today
6.1 Design Thinking
6.1.1 From Design Thinking to Design-Led Strategy
6.1.1.1 Training at Scale
6.1.1.2 Customer Co-Creation
6.1.1.3 Savvy Use of Senior and Support Management
6.1.1.4 Infusing the Brand
6.1.1.5 Acknowledge-Praise-Repeat
6.1.2 Design Thinking Model—E 6²
6.1.3 Strategy Needs More Than Just Design Thinking
6.1.4 Four Practices of Integration in Design-Led Strategy
6.1.4.1 Reviewing
6.1.4.2 Simulating
6.1.4.3 Conversing
6.1.4.4 Collaborating
6.2 Innovation Framework—D64
6.2.1 Focus on the Future
6.2.1.1 Anticipate New Entrants, Business Models, and Markets
6.2.1.2 Build Resilience
6.2.1.3 Use the Voice of Your Customer
6.2.2 Design Innovation into Your Organization
6.2.2.1 Rethinking Innovation
6.2.2.2 Support Your Core Purpose
6.2.2.3 Think Big, Start Small, Scale Fast
6.2.3 Create and Innovation Culture
6.2.3.1 Innovation Is a Culture—And It Starts from the Top
6.2.3.2 Protect Your Innovators
6.2.3.3 Reward Innovations
6.2.4 Build a Network for Innovation
6.2.4.1 Take and Innovation Reality Check
6.2.4.2 Deliver a Return on Relationship
6.2.4.3 Balance Process and Flexibility
6.3 Innovation in Practice: Doblin 10 Types of Innovation
References
Chapter 7 Balanced Strategy Development
7.1 Balanced Strategy Development (BSD) Approach
7.2 Insights-Driven Strategy
7.2.1 Data-Driven Marketing
7.2.1.1 Online Behavioral Advertising (OBA)
7.2.1.2 Futuristic Advertising Strategy
7.2.2 Insights-Driven Business to Drive Value
7.2.2.1 Benefits of Becoming an Insight-Driven Business
7.3 Culture-Driven Strategy
7.3.1 Cultivating Cultures and Strategies
7.4 Operations-Driven Strategy
7.4.1 Operations Strategy—Process
7.4.1.1 Top-Down
7.4.1.2 Bottom-Up
7.4.1.3 Market-Led
7.4.1.4 Operations-Led
7.4.1.5 Key Recommendations for the Executives
7.4.2 The Future of Operations—RPA and Industry 4.0
7.5 Digital-Driven Strategy
7.5.1 Digital Possibilities Must Shape Strategy and Strategy Must Shape Digital Priorities
References
Chapter 8 Putting Strategy in Action
8.1 Executional Excellence
8.2 Eight Tough Questions to Ask about Strategy
8.3 The Eight Myths of Strategy Execution
8.4 Ten Principles of Strategy through Execution
8.5 Four Pillars of Strategy Execution
8.5.1 Pillar 1—Authentic Leadership and Corporate Values
8.5.1.1 Leadership Starts with You
8.5.2 Pillar 2—Agility, Flexibility, and Resilience
8.5.3 Pillar 3—Accountability
8.5.4 Pillar 4—Cadence
8.6 Ten Strategy Stress Tests
8.6.1 Test 1: Will Your Strategy Beat the Market?
8.6.2 Test 2: Does Your Strategy Tap a True Source of Advantage?
8.6.3 Test 3: Is Your Strategy Granular about Where to Compete?
8.6.4 Test 4: Does Your Strategy Put You Ahead of Trends?
8.6.5 Test 5: Does Your Strategy Rest on Privileged Insights?
8.6.6 Test 6: Does Your Strategy Embrace Uncertainty?
8.6.7 Test 7: Does Your Strategy Balance Commitment and Flexibility?
8.6.8 Test 8: Is Your Strategy Contaminated by Bias?
8.6.9 Test 9: Is There Conviction to Act on Your Strategy?
8.6.10 Test 10: Have You Translated Your Strategy into an Action Plan?
8.7 The Future-Today Roadmap
References
Index
