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"Sampler, Jeffrey L"
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Bringing strategy back : how strategic shock absorbers make planning relevant in a world of constant change
\"Executives talk about developing innovative new strategies. They go to conferences on change and hire consultants to manage strategic reinvention. In short, they equate great strategy with great performance. Yet, all too often, strategic change occurs in reaction mode. Sales are down and market share is declining. Profitability is worsening. New types of competitors enter the fray and permanent turbulence disrupts business. Only then do we find we can rally the urgency and the focus to drive business in new and better directions. The problem with reactive planning, of course, is that it happens too late. You find yourself playing catch-up. The damage is done and someone else claims the competitive advantage. The challenge is to make strategic planning proactive and preemptive as a matter of course. That type of fast, fluid approach requires a mind shift, to be sure, but it also requires a new set of tools.This book offers both. It presents a new ethos for thinking about strategy and a practical response to chaos. Even better, it contains a rich set of new ideas that come together to form a critical model to enable strategic change. In essence, it redefines how organizations approach strategic planning. More specifically, it addresses a strategic planning process that has been made obsolete by permanent change and turbulence. It does so in three ways:1. A Current Diagnosis of the Problem: The book argues persuasively that the conventional tools of strategic planning have been made irrelevant by four overlapping challenges: opportunities are getting smaller, growth across markets is uneven, competition is difficult to identify, and the window of opportunity is closing faster. It goes on to evaluate the traditional strategy planning process and explain how companies can manage change efficiently in this rapidly shifting, turbulent environment. 2. A Prescriptive Solution: The book presents a novel, research-based model for strategic change, made-up of four general components: Accuracy, Agility, Absorbing Impact, and Anticipate the Future. These components come together to form a framework that is robust yet accessible, enabling organizations to be proactive and dynamic, not reactive. 3. New Examples that Illustrate the Entire Model: The cases in this book demonstrate all of the ideas in the framework, as opposed to proving one piece at a time. This suggests two key insights. First, the findings in this book are robust and shared across a variety of industries, companies of different sizes, and countries. Second, the ideas in this book are part of an integrated system-if just one or two ideas are implemented the results will not be the same\"-- Provided by publisher.
Book
Bringing Strategy Back
Reconsider Strategy and Make Planning Relevant
In Bringing Strategy Back, strategy expert Jeffrey Sampler cuts through the clutter to reveal exactly why the usual tools of strategy are so sorely out of sync with our needs: windows of opportunity close far faster than they once did, many of these opportunities are smaller than they once were, growth rates are uneven across markets, and today's competition is more asymmetrical than ever. The upshot for managers is that they need to reorient their approach to absorb the shocks and surprises that strike at a moment's notice. Only then can strategic planning reliably play its part.
Leaders all around the world at organizations of any size and type will benefit by shedding their obsolete notions about strategy and becoming more resilient. Bringing Strategy Back rises to the challenge and presents a new prescriptive model. It introduces four \"strategic shock absorbers\" that enable leaders to build resilient organizations that can withstand even the most unexpected global turbulence. Based on the author's in-depth research in the world's most tempestuous markets, the model delivers several must-have qualities that interact and work together in an ongoing process: Accuracy, Agility, Momentum, and Foresight. With this new framework, Bringing Strategy Back shows how to be prepared and proactive, rather than reactive, even when the future is uncertain.
eBook
Information Specificity and Environmental Scanning: An Economic Perspective
This paper addresses two questions. First, how does an organization allocate its environmental scanning resources among all the potential sources of information in the environment? Second, how does an organization allocate responsibility for acquiring environmental information? Specifically, when does an organization choose to monitor an environmental source within its hierarchy, and when does it outsource the task? In the former case, when does the responsibility for acquiring information rest with the ultimate user, and when is it delegated, either to a subordinate or to a central environmental scanning unit? The paper proposes a set of economic arguments to answer these questions. Borrowing from transaction cost theory, the paper develops the concept of information specificity to parallel the idea of asset specificity. Information specificity has two dimensions- knowledge specificity and time specificity. The paper uses transaction cost theory and agency theory to propose that the information acquisition choices made by managers and organizations are based on the specificity of the desired information. In making its arguments, the paper introduces the notion of cognitive transaction and agency costs to complement the behavioral costs that are the focus of traditional transaction cost and agency theory logic.
Journal Article
Whats your information footprint?
How much land do you own? How many people do you employ? How big is your factory? At different times in history, these questions have all been surrogates for a far more basic question: How wealthy are you? That's because, at different points in the evolution of business, each of those questions inquired about the fundamental asset that was at the heart of wealth creation at the time land, people or machines. Today we are on the cusp of a period in which another question may serve as an indicator of potential wealth. That question is: How much information do you have?
Journal Article
Redefining industry structure for the information age
We are entering a new competitive age in which the basis of competition is being fundamentally altered through the introduction of advanced information technologies and public communication infrastructures, such as the Internet. In these environments, the nature and locus of competition will radically alter, as information becomes an increasingly important resource. This paper develops ideas around the strategic characteristics of information-information separability and information specificity. Moreover, it attempts to redefine the nature of industry structure in such a competitive environment by examining what constitutes the real boundaries of competition, industry concentration, related diversification, and innovation for firms competing in the Information Age.
Journal Article
Platforms That Grow Are More Than Matchmakers
In 2011, Airbnb, the vacation-rental Web site, learned it wasn't just in the business of pairing up short-term renters with people who had a spare room or an empty apartment. It was also a risk manager -- or would have to be if it wanted to continue to grow. Seven years after EJ's misfortune, Airbnb is booming. It raised $1 billion in funding last year and is estimated to be worth $31 billion. I'd credit at least some of that success to the company's realization that it had to think differently about risk and to manage it. Platform businesses, like Airbnb, the transportation service Lyft, and even the dating site Tinder, often talk about themselves as if they're merely matchmakers (and some of them certainly are that). Many platforms encourage suppliers and buyers to review one another, thus creating online reputations. Airbnb has also created a feature called Social Connections, which lets users integrate their social networks into their transactions for extra verification and comfort.
Journal Article
Transformation of the IT Function at British Petroleum
In 1989, the IT function of the exploration and production division of British Petroleum Company set out to transform itself in response to a severe economic environment and poor internal perceptions of IT performance. This case study traces and analyzes the changes made over six years. The authors derive a model of the transformed IT organization comprising seven components that they suggest can guide IT departments in general as they seek to reform themselves in the late 1990s. This model is seen to fit well with recent thinking on general management in that the seven components of change can be reclassified into the Bartlett and Ghoshal (1994) framework of purpose, process, and people. Some suggestions are made on how to apply the model in other organizations.
Journal Article
Bringing strategy back
\"Executives talk about developing innovative new strategies. They go to conferences on change and hire consultants to manage strategic reinvention. In short, they equate great strategy with great performance. Yet, all too often, strategic change occurs in reaction mode. Sales are down and market share is declining. Profitability is worsening. New types of competitors enter the fray and permanent turbulence disrupts business. Only then do we find we can rally the urgency and the focus to drive business in new and better directions. The problem with reactive planning, of course, is that it happens too late. You find yourself playing catch-up. The damage is done and someone else claims the competitive advantage. The challenge is to make strategic planning proactive and preemptive as a matter of course. That type of fast, fluid approach requires a mind shift, to be sure, but it also requires a new set of tools. This book offers both. It presents a new ethos for thinking about strategy and a practical response to chaos. Even better, it contains a rich set of new ideas that come together to form a critical model to enable strategic change. In essence, it redefines how organizations approach strategic planning. More specifically, it addresses a strategic planning process that has been made obsolete by permanent change and turbulence. It does so in three ways:1. A Current Diagnosis of the Problem: The book argues persuasively that the conventional tools of strategic planning have been made irrelevant by four overlapping challenges: opportunities are getting smaller, growth across markets is uneven, competition is difficult to identify, and the window of opportunity is closing faster. It goes on to evaluate the traditional strategy planning process and explain how companies can manage change efficiently in this rapidly shifting, turbulent environment. 2. A Prescriptive Solution: The book presents a novel, research-based model for strategic change, made-up of four general components: Accuracy, Agility, Absorbing Impact, and Anticipate the Future. These components come together to form a framework that is robust yet accessible, enabling organizations to be proactive and dynamic, not reactive. 3. New Examples that Illustrate the Entire Model: The cases in this book demonstrate all of the ideas in the framework, as opposed to proving one piece at a time. This suggests two key insights. First, the findings in this book are robust and shared across a variety of industries, companies of different sizes, and countries. Second, the ideas in this book are part of an integrated system-if just one or two ideas are implemented the results will not be the same\"--
eBook