Contents

Introduction: Get the Strategy You Need—Now

Shape the future to your advantage.

SECTION ONE: What Is Strategy?

1. Defining Strategy, Implementation, and Execution

They involve different activities, tools, and people.

BY KEN FAVARO

2. Five Myths About Strategy

And why they’re wrong.

BY STEPHEN BUNGAY

3. Your Strategic Plans Probably Aren’t Strategic, or Even Plans

Distinguish between objectives, strategies, and actions.

BY GRAHAM KENNY

SECTION TWO: Lay the Foundation

4. Your Strategy Needs a Strategy

Consider the circumstances in which you’re operating.

BY MARTIN REEVES, CLAIRE LOVE, AND PHILIPP TILLMANNS

5. The Different Approaches Firms Use to Set Strategy

Two factors can help you define your process.

BY KIMBERLY TETI, MU-JEUNG YANG, NICHOLAS BLOOM, JAN W. RIVKIN, AND RAFFAELLA SADUN

6. Six Tips for Running Offsites That Aren’t a Waste of Time

Understand your objectives—before you get in the room.

BY MELISSA RAFFONI

7. Stakeholders First, Strategy Second

Recognize what you want from them and what they want from you.

BY GRAHAM KENNY

SECTION THREE: Develop Your Strategy

8. Strategy Needs Creativity

Four approaches to building a breakthrough strategy.

BY ADAM BRANDENBURGER

9. Five Questions to Build a Strategy

Where will we play? How will we win?

BY ROGER L. MARTIN

10. Four Types of Competition That Can Threaten Your Company

Maintain your competitive edge.

BY CARSTEN LUND PEDERSEN AND THOMAS RITTER

11. How to Do Strategic Planning Like a Futurist

Stop fearing the long term.

BY AMY WEBB

12. Ecosystem Businesses Are Changing the Rules of Strategy

By understanding how they operate, you’ll be better positioned to compete.

BY JULIAN BIRKINSHAW

13. Put Purpose at the Core of Your Strategy

Reshape your value proposition.

BY THOMAS W. MALNIGHT, IVY BUCHE, AND CHARLES DHANARAJ

SECTION FOUR: Test Your Strategic Choices

14. Four Ways to Pressure-Test Your Strategy

Assign a team to poke holes in it.

BY RICK LYNCH AND JAY GALEOTA

15. Which Strategy “Comfort Traps” Are You Falling Into?

And the remedies to get out of them.

BY ROGER L. MARTIN

16. Identify the New Capabilities You Need

Build skill development into your plan.

BY RON ASHKENAS AND LOGAN CHANDLER

17. A Simple Way to Test Your Company’s Strategic Alignment

At both the team and the enterprise levels.

BY JONATHAN TREVOR AND BARRY VARCOE

SECTION FIVE: Communicate Your Strategy

18. Leading Change and Strategic Transitions

How to communicate your new strategy to employees.

19. Explain Your New Strategy by Emphasizing What It Isn’t

Create a list of priorities to put on hold.

BY NICK TASLER

20. Discussing Strategy Across Cultures

Diverse teams come with diverse strategic viewpoints.

BY LEONARD M. FULD

SECTION SIX: Execute the Strategy and Learn from It

21. Your Strategy Should Be a Hypothesis You Constantly Adjust

Gaps in execution may mean revising your strategy.

BY AMY C. EDMONDSON AND PAUL J. VERDIN

22. Your Strategy Has to Be Flexible—but So Does Your Execution

Eight common traps to avoid.

BY MARTIN REEVES AND RODOLPHE CHARME DI CARLO

23. Stop Letting Quarterly Numbers Dictate Your Strategy

When short-term metrics keep you from winning in the long term.

BY DAVID HERSH

24. Strategy Is All About Practice

Work, work, and work some more.

BY ROGER L. MARTIN

Index

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