Enterprise-Wide Strategic Management: Achieving Sustainable Success through Leadership, Strategies, and Value Creation PDF
Preview Enterprise-Wide Strategic Management: Achieving Sustainable Success through Leadership, Strategies, and Value Creation
This page intentionally left blank Enterprise-wide Strategic Management Intoday’shighlycompetitiveanddynamicbusinessenvironments,corporationscan no longer afford to rely on the static strategic management constructs of the past. Enterprise-wideStrategicManagementisaleading-edgeworkthatshowshowbusiness leaderscantakebetteradvantageoftheiropportunitiesbytakingabroaderperspective oftheworldinwhichtheyoperate.DavidRaineyadvocatesaholisticapproachtothe businessenvironment,arguingthatmanagersmustworkwithallstakeholders,both internalandexternal,tocreatelong-termsuccess.Includingnumerouscasestudies featuringglobalcorporationsandsmallandmedium-sizedenterprises(SMEs),the bookprovidesguidanceandsupportinformulating,developing,andimplementing business strategies and action plans. It also includes advice on how to develop and deploy strategic management systems, management constructs, and organizational structures.Thisgivesexecutives,strategicleaders,professionals,andpractitionersthe toolstheyneedtocreatevalueandachievesustainablesuccess. DavidL.Rainey is Professor of Management at the Lally School of Management and Technology,RensselaerPolytechnicInstitute,USA.HeistheauthorofProductInno- vation (Cambridge University Press, 2005) and Sustainable Business Development (CambridgeUniversityPress,2006). Enterprise-wide Strategic Management Achieving Sustainable Success through Leadership, Strategies, and Value Creation David L. Rainey CAMBRIDGE UNIVERSITY PRESS Cambridge, New York, Melbourne, Madrid, Cape Town, Singapore, São Paulo, Delhi, Dubai, Tokyo Cambridge University Press The Edinburgh Building, Cambridge CB2 8RU, UK Published in the United States of America by Cambridge University Press, New York www.cambridge.org Information on this title: www.cambridge.org/9780521769808 © David L. Rainey 2010 This publication is in copyright. Subject to statutory exception and to the provision of relevant collective licensing agreements, no reproduction of any part may take place without the written permission of Cambridge University Press. First published in print format 2009 ISBN-13 978-0-511-69126-3 eBook (NetLibrary) ISBN-13 978-0-521-76980-8 Hardback Cambridge University Press has no responsibility for the persistence or accuracy of urls for external or third-party internet websites referred to in this publication, and does not guarantee that any content on such websites is, or will remain, accurate or appropriate. Contents Listoffigures pageviii Listoftables x Listofboxes xi Listofabbreviations xii Introduction 1 Part I: Context: Laying the foundation and the underpinnings of ESM 1 Enterprise-widestrategicmanagement:Underpinnings andcontext 16 Introduction 16 Anoverviewofbusinesscontext 17 Thebusinessenterpriseandtheextendedenterprise 23 OverarchingperspectivesofESM 37 Frameworkforenterprise-widestrategicmanagement 49 Summary 64 References 65 Notes 66 2 Strategicmanagement:Historicalaspectsandcontemporary perspectives 68 Introduction 68 Managementtheoriesandstrategicmanagement constructs 70 Asynopsisofthestrategicmanagementmodel 88 SBDanditsconnectionswithESM 101 Summary 106 vi Contents References 107 Notes 108 3 Enterprise-widestrategicleadership:Creatingvalueand sustainablesuccess 113 Introduction 113 Enterprise-widestrategicleadershipqualities 115 Thepreceptsandprinciplesofenterprise-widestrategicleadership 121 Rethinkingthemindsetofstrategicleadership 129 Sustainablesuccess 136 Summary 147 References 148 Notes 149 4 Thebusinessenvironment:Aglobalperspectiveon leadingchange 151 Introduction 151 Selectedforcesaffectingbusiness 153 Theunderpinningsofthebusinessenvironment 157 Summary 193 References 194 Notes 194 5 Marketspaces:Theintersectionofeconomicandbusinessforces 197 Introduction 197 Perspectivesonmarkets,customers,andthevalueproposition 199 Conceptsandrealitiesofmarketspaces 207 Uncoveringbusinessopportunitiesinspaceandtime 219 Summary 238 References 239 Notes 239 Part II: Strategic management: Formulation and implementation 6 Strategicmanagementframeworkandstrategicanalysis 243 Introduction 243 Strategicbusinessplanningandstrategicmanagementprocess 246 Strategicmanagementframework:Logic,scope,direction, andconstructs 253 vii Contents Strategicanalysis:Externalcontextandinternalcapabilities 264 Summary 307 References 308 Notes 308 7 Strategicformulation–options,missionstatements,andobjectives 310 Introduction 310 Strategicformulation 312 Determiningstrategicoptions 316 Summary 354 References 356 Notes 356 8 Strategyformulation–businessstrategiesandactionplans 358 Introduction 358 Craftingbusinessstrategies 360 Strategicactionplansandinitiatives 413 Strategicevaluation–innerloop 419 Summary 424 References 426 Notes 427 9 Strategicimplementationandexecution 428 Introduction 428 Underpinningsofstrategicimplementation 430 Strategyimplementation–themeans 440 Strategyimplementation–themechanisms 465 Evaluation 479 Execution 481 Summary 487 References 487 Notes 488 10 Reflectionsandconcludingcomments 489 Introduction 489 FuturedirectionofESM 493 Concludingcomments 496 References 500 Notes 500 Index 501 Figures 1.1 Porter’sgenericvaluechain page29 1.2 TheoverarchingframeworkofESM 50 1.3 Asimplifiedframeworkofthebusinessenvironment 55 1.4 Asimplifiedoverviewofthedimensionsoftheenterprise 58 2.1 Mintzberg’ssixbasicpartsoftheorganization 78 2.2 Andrews’strategicplanningmodel 84 2.3 Steiner’sstructureandprocessofbusinessplanningmodel 85 2.4 Agenericstrategicmanagementmodel 86 2.5 TheoverlappingaspectsofESLandembeddedstrategicmanagement 92 2.6 Theoverlappingaspectsofstrategicinnovationandintegration 96 2.7 Theoverlappingaspectsofvaluenetworksandcompetitiveforces 100 2.1A Thefivefundamentalsforcreatingvaluefromaccountability 105 3.1 Procter&Gamble’santicipatoryissuesmanagementprocess(circa 1999) 144 4.1 Thebusinessenvironmentanditslinkages 159 4.2 Anexampleoftheinterrelationshipswithinthebusinessenvironment 160 4.3 Theinterrelationsoftheenvironmentaldimension 189 5.1 Traditionalmodelofsupplyanddemandstructures 200 5.2 Valueequationfromanenterpriseperspective 205 5.3 TheframeworkofmarketspacefromanSBUperspective 209 6.1 Thestrategicmanagementprocess 250 6.2 ExampleofastrategicmanagementframeworkandSBU 258 7.1 Themainphasesofthestandardstrategicmanagementprocess 314 7.2 SPACEModel–continuumofstrategicalternatives 319 7.3 Arelativemappingofselectstrategicoptions 324 7.4 Simplifiedviewofchangingthemissionstatements 336 7.5 Interrelationshipbetweencorporateandbusinessobjectives 341 7.6 Matrixviewofobjectiveswithexternalandinternalfoci 350 9.1 Themainelementsofstrategicimplementationandexecution 433
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