STEEP

2020 ◽  
pp. 36-45
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Political Factors ◽  
Boundaries Of The Firm ◽  
Underlying Theory ◽  
Japan Tobacco ◽  
Core Idea

The purpose of a macro-environmental (STEEP) analysis is to capture and interpret what is happening (and what is likely to happen) in the environment in which a business operates. It accounts for the broad trends, forces, and changes beyond the boundaries of the firm, which may impact the operations and markets of the firm. STEEP stands for social, technical, economic, ecological, and political factors. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of STEEP analysis. Finally, the chapter offers the illustration of Japan Tobacco International and applies the steps of STEEP analysis to this case.

Balanced Scorecard

2020 ◽  
pp. 185-194
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Human Resources ◽  
Balanced Scorecard ◽  
Financial Marketing ◽  
The Balanced Scorecard ◽  
Underlying Theory ◽  
Holistic Perspective ◽  
Marketing Operations ◽  
Core Idea ◽  
Monitoring Performance ◽  
Implement Strategy

The purpose of the balanced scorecard is to provide a holistic perspective to setting firm goals and monitoring performance. The balanced scorecard provides a financial, marketing, operations, and human resources perspective of a firm’s performance. When used to implement strategy, the balanced scorecard approach prompts managers to think about what needs to happen in different elements of the business for the strategy to take hold. It encourages managers to think about how the strategy will impact the customer, operational, and people processes to ultimately affect financial results. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of the balanced scorecard. The chapter also continues the illustration of the Chocolate Moose and applies the steps of the balanced scorecard to this case.

Vertical Integration

2020 ◽  
pp. 149-162
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Vertical Integration ◽  
Value Chain ◽  
Strategic Decision ◽  
Integration Framework ◽  
Underlying Theory ◽  
A Value ◽  
Core Idea ◽  
Integration Analysis

A key strategic decision for managers is deciding on the scope of assets to be owned and controlled by a firm (i.e. what should be owned by a firm and what should be purchased or outsourced?). A vertical integration framework (sometimes also called a make-or-buy framework) provides a structured way to think about such decisions. It helps managers make decisions about which assets and elements of a value chain a firm should own and which they can buy from other firms. This chapter discusses vertical integration’s underlying theory, core idea, depiction, process, insight or value created, and risks and limitations. The chapter also discusses the illustration of Starbucks and applies the steps of vertical integration analysis to this case.

Competitor Analysis

2020 ◽  
pp. 57-66
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Competitive Advantage ◽  
Systematic Approach ◽  
Complete Picture ◽  
The Core ◽  
Underlying Theory ◽  
Competitor Analysis ◽  
The Future ◽  
Core Idea ◽  
Future Plans

The purpose of a competitor analysis is to provide managers with a complete picture of the competitive landscape confronting a firm. The core idea behind a competitor analysis is to use a systematic approach to (1) identify current and future rivals to a firm, (2) assess the strengths and weaknesses of current and future rivals, (3) determine a match between a competitor’s strategies and capabilities, (4) analyze the future plans and intentions of rivals, and (5) predict a competitor’s reaction to initiatives launched by a firm. The ability to anticipate the response by rivals provides a firm with a competitive advantage. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of competitor analysis. Finally, the chapter offers the illustration of Netflix and applies the steps of competitor analysis to this case.

Strategy in 3D

2020 ◽  
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Strategic Management ◽  
Management Tools ◽  
Underlying Theory ◽  
Hands On ◽  
Core Idea ◽  
High Level ◽  
3D Framework

This book provides a tools-based approach to strategic management. The central framework rests on three pillars that constitute the essence of strategy: to diagnose, to decide, and to deliver. Within this framework a suite of strategic management tools is offered, which include both the classics and the more nascent frameworks used to strategize. The first part of the book offers a brief introduction to the essentials of strategic management and unpacks the “3D” framework of strategy. The second part of the book revolves around explaining the purpose, underlying theory, core idea, depiction, process, value created, and risks and limitations of each tool. Hands-on advice is emphasized. The book also offers case illustrations that offer concrete examples of how the tools can be applied. The concluding chapter summarizes the key insights on a high level and offers concluding thoughts on how the tools can be combined.

Hypothesis Testing

2020 ◽  
pp. 130-137
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Data Collection ◽  
Hypothesis Testing ◽  
Decision Maker ◽  
Potential Solution ◽  
Efficient Mechanism ◽  
Underlying Theory ◽  
Data Collection And Analysis ◽  
Initial Hypothesis ◽  
Core Idea ◽  
The Way

The purpose of hypothesis testing is to provide the decision maker with an efficient mechanism for reducing uncertainty using an inferential procedure to test the credibility of a potential solution to a strategic challenge. This is done by choosing an initial hypothesis about how to solve a problem and limiting data collection and analysis to those data that either defend or reject this hypothesis. This can be far more efficient than traditional methods of collecting data without purpose and deducing solutions by analyzing relevant data and eliminating irrelevant data along the way. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of hypothesis testing. The chapter also continues the illustration of the DISH Network and applies the steps of hypothesis testing to this case.

S-Curve Analysis

2020 ◽  
pp. 108-117
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Curve Analysis ◽  
Strategic Decisions ◽  
Underlying Theory ◽  
Market Product ◽  
The Future ◽  
S Curve ◽  
Core Idea

The purpose of an S-curve analysis is to understand and interpret the evolution of a market, product, or technology so as to make informed strategic decisions about where value may be created now and in the future. S-curves map out this evolution, from its relatively slow emergence, to the point where it begins to grow and growth accelerates, to the point where the market becomes saturated and growth begins to slow and even decline. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of S-curve analysis. The chapter also discusses the illustration of Spotify and applies the steps of S-curve analysis to this case.

Segmentation Analysis

2020 ◽  
pp. 138-148
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Demographic Profiles ◽  
Underlying Theory ◽  
Segmentation Analysis ◽  
Business Market ◽  
Common Interests ◽  
Core Idea

Segmentation analysis provides a means to understand and partition a broad consumer or business market into subgroups of consumers, such that a firm can effectively target specific sub-groups as segments with unique needs and wants rather than the market as a whole. Segments are created based on shared attributes of consumers or businesses such as shared needs, common interests, similar locations, common demographic profiles, etc. Segmenting a market allows a firm’s managers to understand and target segments that are most attractive for the firm. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of segmentation analysis. The chapter also continues the illustration of Harley-Davidson, and applies the steps of segmentation analysis to this case.

Root-Cause Analysis

2020 ◽  
pp. 101-107
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Problem Solving ◽  
Root Cause Analysis ◽  
Causal Chain ◽  
Causal Factors ◽  
Cause Analysis ◽  
Root Cause ◽  
Underlying Theory ◽  
Core Idea ◽  
Undesirable Outcome

A root-cause analysis is used to identify the initiating, or root, of a causal chain that leads to an observed undesirable outcome. It is useful in helping managers to focus their problem-solving efforts on providing remedies to issues that actually prevent the undesirable outcome from recurring. Failure to identify the root cause of a problem often leads to time spent on removing causal factors, which can alleviate the symptoms of a problem yet may not prevent recurrence with full certainty. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of root-cause analysis. The chapter also discusses the illustration of the DISH Network and applies the steps of root-cause analysis to this case.

Business Model Canvas

2020 ◽  
pp. 174-184
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Business Model ◽  
Economic Activity ◽  
Major Elements ◽  
Value Proposition ◽  
Current Configuration ◽  
Underlying Theory ◽  
Business Model Canvas ◽  
New Strategy ◽  
New Business ◽  
Core Idea

The purpose of a business model canvas is to assess how the firm’s economic activity is configured to create and deliver on a firm’s value proposition. The business model canvas provides a holistic perspective of how the major elements of a business need to be aligned to allow the firm to create and capture value. Managers can use a business model canvas when initiating a new business, or when seeking to revise the strategy of an existing business by assessing how the current configuration of activities may need to change to deliver on the new strategy. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of the business model canvas. The chapter also continues the illustration of Spotify and applies the steps of business model canvas to this case.

Market Entry Modes

2020 ◽  
pp. 163-173
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker
Keyword(s):  
Market Entry ◽  
New Product ◽  
Entry Modes ◽  
Product Markets ◽  
New Markets ◽  
Revenue Growth ◽  
Underlying Theory ◽  
Core Idea ◽  
Insight Into

The purpose behind market entry modes is to provide insight into the options that a firm has when it wishes to expand into a new market. Many strategies seek to generate revenue growth, and much of the time that growth is sought in new markets. Seeking revenue growth from new markets may include pursuing new geographic markets, new product markets, new customer segments, or a combination of these. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of market entry modes. The chapter also continues the illustration of Starbucks and applies the steps of market entry modes to this case.

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