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The Strategy Formulation Process

(c) Macmillan

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The Strategy Formulation Process

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    1. (c) Macmillan & Tampoe 2001 1 The Strategy Formulation Process Chapter 11 Strategic Choice

    2. (c) Macmillan & Tampoe 2001 2

    3. (c) Macmillan & Tampoe 2001 3

    4. (c) Macmillan & Tampoe 2001 4

    5. (c) Macmillan & Tampoe 2001 5

    6. (c) Macmillan & Tampoe 2001 6 Options for building resources, capabilities and competence Resources as important as markets and products Capabilities may take time to build Particular capability may relate to particular market/product options True competence may depend on a subtle combination of resources and capabilities

    7. (c) Macmillan & Tampoe 2001 7 Options in methods of implementation Internal development Acquisition Contractual arrangements Strategic alliances and partnerships

    8. (c) Macmillan & Tampoe 2001 8 Strategic Options Product/market, resource/capability and implementation method may be grouped to form strategic options Small number Combining top-down and bottom-up thinking Strategic Options tested: Aligned with strategic intent Feasible in terms of capabilities and resources Acceptable to those who have to approve and implement it

    9. (c) Macmillan & Tampoe 2001 9 Who should be involved with strategic choice? Political as much as logical process Political reality revealed by asking: Who stands to gain or lose? How will existing coalitions be affected? Who may be seen to have originated choices? Board approval is one thing Support from those who will make it happen is also essential

    10. (c) Macmillan & Tampoe 2001 10 Porter’s 3 Generic Strategies Cost Leadership Differentiation Focus

    11. (c) Macmillan & Tampoe 2001 11

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