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To accompany contemprory strategy analysis concepts techniques application chapter17slides

Current
Current Trends
Trends in
in Strategic
Strategic Management
Management
OUTLIN
E
• The New Economy
• New Directions in Strategic Thinking
• Redesigning the Organization
• New Modes of Leadership


st
The
Turbulent
21
The Turbulent 21st Century
Century


Collapse
Collapse of
ofNew
New
Economy
Economy


Corporate
CorporateScandals
Scandals

••Enron,
Enron,WorldCom,
WorldCom,Parmalat
Parmalat
••Jack
Welch’s
retirement
Jack Welch’s retirementpackage
package

Dot.com
•Dot.combubble
bubblebursts
bursts
•TMT
recession
•TMT recession

International
competition intensifies
• China as Workshop of the World
• Outsourcing to LDCs

The
TheCurse
Curse of
of
Terrorism


Terrorism
••Sept.
Sept.11,
11,2001
2001

•Suicide
•Suicidebombings
bombingsin
in
Israel,
Iraq,
Saudi
Israel, Iraq, Saudi
Arabia,
Arabia,Turkey,
Turkey,
Afghanistan
Afghanistan

Decline of
Multilateralism

War
War

••Invasion
Invasionof
ofAfghanistan
Afghanistan
&&Iraq
Iraq
•Civil
was
in
•Civil was inCongo,
Congo,
Liberia,
Liberia,Sudan
Sudan

•Collapse of Doha round
• Trade wars between US, EU, China
•Weakening of UN

Unstable
Unstable
Currencies
Currencies

US$
US$declines
declinesby
by>50%
>50%against
against
Euro
Euro2002-04
2002-04

Age
Age of
of
Disbelief
Disbelief

Fear
Fearof
ofDisease
Disease

•SARS,
•SARS,Mad
MadCow,
Cow,Bird
BirdFlu
Flu


US
USLabor
Labor Productivity:
Productivity:Changes
Changesin
inNon-Farm
Non-FarmOutput
Output
per
perHour
HourWorked
Worked from
fromYear
Year ago
ago Quarter,
Quarter,1995-2003
1995-2003
7
6
Q1

5

Q2

4

Q3
Q4

3
2
1
0

1995 1996 1997 1998 1999 2000 2001 2002 2003
Source: Bureau of Labor Statistics


Return
Returnon
onEquity
Equityof
ofUS
USManufacturing
Manufacturing
Corporations,
Corporations,1990-2003
1990-2003
18
16
14
12
10
ROE ( %)

8
6
4
2
0

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

Source: US Bureau of the Census


The
The value
value of
of mergers
mergers and
and
acquisitions
acquisitions worldwide
worldwide
4.5
4
3.5
3
2.5
$ trillion

2
1.5
1
0.5
0

1990 1992 1994

1996 1998 2000

2002

Source: Thomson Financial Securities Data


Directions
Directionsin
inStrategic
Strategic Management
Management
Practice—Trends
Practice—Trendsof
ofthe
the 1990s
1990s
Key Trends of the 1990s:
•Quest for shareholder value
•Adjusting to increased
turbulence & more intense
competition

Influential Strategy Concepts:
•Modern financial analysis
—shareholder value, economic profit,
option theory
•Core competences and intangible
assets
•Dynamically competitive markets
—“hypercompetition”
•Competitive advantage through
alliances, networks, and standards

Major Themes of Business
Strategy:
•Cost cutting—squeezing
overhead, business process reengineering, increasing labor
productivity
•Outsourcing/refocusing/
divestment
•Performance management and
incentive alignment


Forces Shaping Company Strategies 2001-04
Future Sources of Profit
Limits of downsizing/cost cutting
Where are future sources of
profit?

Concepts & Theories

The Business
Environment
•Uncertainty
•Stalling of economic
liberalization
•Intense competition

Technology
•Resources & capabilities as
Continued advances in ICT
basis for competitive advantage
•Knowledge-based theory
of the firm
Demands of society
•Option theory
•Social & environmental responsibility
•Complexity theory
•Ethics & fairness
•Quest for meaning


Emerging Developments
STRATEGY
•Multiple competitive advantages/multiple capabilities
•Innovation / New Product Development / New
Business Development
•Alliances & networks

MANAGEMENT SYSTEMS
• Knowledge management
(incl. best-practice transfer)
• Redesigning incentive systems
• Rethinking performance management
• Capturing human creativity

ORGANIZATION
STRUCTURE
• Reconciling flexibility
& integration
• Modular structures
• Multidimensional structures
• Informal organization &
self-organization


The
The Need
Need to
to Redesign
Redesign Organizations
Organizations
THE PAST

Emphasis on control

THE FUTURE

Emphasis on co-ordination

Single performance
goal

Multiple performance goals

Decisions located
centrally

Decisions located where
relevant knowledge exists

Simple structures,
unified line of command

Multidimensional
structures
Diffused authority, but
clear responsibilities

Organization by design

Self organization


Emerging
Emerging Organizational
Organizational Forms
Forms
Organizing for capability
development

Shifting emphasis of organization
design from control to coordination

From unitary to parallel
structures

Separate coordination structures for
different processes. E.g. 3M’s product
development structure; separate structures
for TQM and change management

Process-based
organizations

Organizing around business processes
Organizing around corporate processes
- entrepreneurial process
- competence building process
- renewal process

Project-based organization

E.g. engineering cos., consulting firms, also
manufacturing cos. e.g. Oticon

Network and virtual
organization

E.g. electronics in Silicon Valley, clothing
and packaging equipment in Italy


New
New Models
Models of
of Leadership:
Leadership:
What
What Competencies
Competencies do
do Top
Top Managers
Managers Need?
Need?
THE LEADERSHIP
NEEDS
OF ORGANIZATIONS
The ability to:









build confidence
build enthusiasm
cooperate
deliver results
form networks
influence others
use information

THE REQUIRED
COMPETENCIES OF
BUSINESS LEADERS
• business literacy
• creativity
• cross-cultural
effectiveness
• empathy
• flexibility
• proactivity
• problem-solving
• relation-building
• teamwork
• vision



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