Strategy in 3D
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Published By Oxford University Press

9780190081478, 9780197521847

2020 ◽  
pp. 185-194
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


2020 ◽  
pp. 149-162
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


2020 ◽  
pp. 118-129
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

Value chain analysis (VCA) aids the strategist in understanding a firm’s potential sources of competitive advantage by decomposing the firm’s business processes into strategically important activities. Viewing the firm as an aggregate of interlinked value-adding activities and placing them in the context of a broader value chain helps to understand each activity’s impact on both cost and revenue potential. As such, VCA can be used to help the firm achieve an optimal allocation of resources. This chapter discusses the underlying theory, core idea, depiction, process, insight or value created, and risks and limitations of VCA. The chapter also continues the illustration of Netflix and applies the steps of value chain analysis to this case.


2020 ◽  
pp. 57-66
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


2020 ◽  
pp. 36-45
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


2020 ◽  
pp. 195-198
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

This chapter returns to the high-level assumptions that motivated the writing of this book which include: (1) the field of strategy in the current day and age has become more relevant (not less); (2) strategic management should be practiced by more people (not fewer, and certainly not solely by those at the top of the organization; (3) strategy’s functional domain should be broadened (not narrowed); and (4) anyone with career ambition in the business world needs to become a strategist. It also discusses the option of combining multiple tools and offers advice on how this can be done. We note that there is no magic set of combinations that always works. Part of the learning experience in becoming a good strategist is learning when and how to apply certain tools in combination. As with many things in life, practice makes perfect. The chapter concludes with discussing the next frontier in strategic management.


2020 ◽  
pp. 130-137
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


2020 ◽  
pp. 108-117
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


2020 ◽  
pp. 7-10
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

This chapter defines strategy as a diagnosis that defines or explains a business challenge or opportunity, a decision or set of decisions for dealing with the challenge or opportunity, and a coherent set of actions to deliver on the decisions so as to create sustainable advantage and superior returns over rivals. In this chapter we also distinguish between three key levels of strategy: (1) corporate-level strategy, which is concerned with the selection of business areas in which the company should compete and with the development and coordination of that portfolio of businesses; (2) business-level strategy, which is about developing and sustaining a competitive advantage for a business delivering an identifiable set of products and/or services; (3) managerial-level strategic decision-making, which is concerned with identifying and dealing with a diverse range of immediate strategic challenges and opportunities confronting a business.


2020 ◽  
pp. 138-148
Author(s):  
Greg Fisher ◽  
John E. Wisneski ◽  
Rene M. Bakker

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.


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