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Rudolf Grünig · Richard Kühn The Strategy Planning Process Analyses, Options, Projects Second Edition The Strategy Planning Process Rudolf Gru¨nig (cid:129) Richard Ku¨hn The Strategy Planning Process Analyses, Options, Projects Second Edition Translated from German by Maude Montani RudolfGrünig RichardKühn ChairofManagement FormerDirectoroftheInstituteofMarketing UniversityofFribourg andManagement Fribourg,Switzerland UniversityofBern Bern,Switzerland ISBN978-3-662-56220-8 ISBN978-3-662-56221-5 (eBook) https://doi.org/10.1007/978-3-662-56221-5 LibraryofCongressControlNumber:2017962292 #Springer-VerlagGmbHGermany,partofSpringerNature2015,2018 OriginalGermaneditionpublishedbyHaupt-Verlag,Bern,2018 Thisworkissubjecttocopyright.AllrightsarereservedbythePublisher,whetherthewholeorpartof the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilarmethodologynowknownorhereafterdeveloped. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publicationdoesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexempt fromtherelevantprotectivelawsandregulationsandthereforefreeforgeneraluse. Thepublisher,theauthorsandtheeditorsaresafetoassumethattheadviceandinformationinthis book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained hereinor for anyerrors oromissionsthat may havebeenmade. Thepublisher remainsneutralwith regardtojurisdictionalclaimsinpublishedmapsandinstitutionalaffiliations. Printedonacid-freepaper This Springer imprint is published by the registered company Springer-Verlag GmbH, DE part of SpringerNature. Theregisteredcompanyaddressis:HeidelbergerPlatz3,14197Berlin,Germany Preface The strategy of a company defines its future way of doing business. It will determinethetargetmarketpositionsandthecompetitiveadvantagesoftheoffers andtheresourcestoconstructforyearstocome.Determiningthefuturestrategyis an important and complex task. This book illustrates how to approach it. It is published in parallel in German (see Grünig and Kühn 2018a) and French (see GrünigandKühn2018b). Consulting projects, master theses, and case study solutions based on the first editionofthisbookwere systematically analyzed.As aconsequence,theanalysis andplanningprocessesatthebusinesslevelweresimplified.Thepropositionsinthe secondeditionarethereforeeasiertoapply. Manyoftheideasandexamplescomefromdiscussionswithcurrentandformer assistants, PhDs, and students. The authors would like to thank them for their interest and their contributions. The book also contains many experiences and approachesfrompractice.Theauthorsarethereforeindebtedtothemanymanagers whohaveallowedsharingtheirstrategicwork. Butthebiggestthanksareaddressedtothreepeople:T.Schulthesscoordinated theproject,M.MontanitranslatedthetextfromGermanintoEnglishandproposed valuableideasforimprovements,andT.Letypedthetextanddesignedthefigures. The authors would like to express their gratitude to the three ladies for their extraordinaryinvolvementandtheirexcellentwork. Fribourg,Switzerland RudolfGrünig Bern,Switzerland RichardKühn September2017 References Gru¨nigR,Ku¨hnR(2018a)Strategieplanungsprozess,2ndedn.Haupt,Bern Gru¨nigR,Ku¨hnR(2018b)Proce´de´deplanificationstrate´gique,2e`mee´d.Haupt,Berne v Brief Contents 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 PartI IdeaofStrategicPlanning 2 Strategies,StrategicPlanningandSuccessPotentials. . . . . . . . . . . 7 3 DevelopmentofStrategicPlanningandItsIntegrationinto StrategicManagement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 4 AssessingStrategicIntentions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 PartII StrategicDocumentsandtheStrategyPlanningProcess 5 StrategicDocuments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 6 StrategyPlanningProcess. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 PartIII InitializingStrategicPlanning 7 DefiningtheCurrentStrategicBusinesses. .. . . .. . . . .. . . .. . . .. 57 8 PreparingtheStrategyPlanningProject. . . . . . . . . . . . . . . . . . . . 69 9 StakeholderAnalysisandRevisingtheMissionStatement. . . . . . . 77 PartIV StrategicAnalysisattheCorporateLevel 10 GlobalEnvironmentalAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . 89 11 AnalyzingtheRelevantIndustries. . . . . . . . . . . . . . . . . . . . . . . . . 97 12 PortfolioAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 13 DiagnosingStrategicChallengesattheCorporateLevel. . . . . . . . . 137 PartV DevelopingtheCorporateStrategy 14 DevelopingandAssessingStrategicOptionsattheCorporate Level. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 vii viii BriefContents 15 DevelopingandAssessingStrategicProjectsattheCorporate Level. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 PartVI StrategicAnalysisattheBusinessLevel 16 AnalyzingtheRelevantMarkets. . . . . . . . . . . . . . . . . . . . . . . . . . . 175 17 AnalyzingtheCompetitivePositions. . . . . . . . . . . . . . . . . . . . . . . . 185 18 DiagnosingStrategicChallengesattheBusinessLevel. . . . . . . . . . 203 PartVII DevelopingtheBusinessStrategies 19 DevelopingandAssessingStrategicOptionsattheBusinessLevel. . . 211 20 DevelopingandAssessingStrategicProjectsattheBusinessLevel. . . 223 PartVIII FinalizingStrategicPlanning 21 DevelopingtheFunctionalStrategies. . . . . . . . . . . . . . . . . . . . . . . 229 22 OverallAssessmentofStrategiesandStrategicProjects. . . . . . . . . 237 23 PreparingtheImplementation. . . . . . . . . . . . . . . . . . . . . . . . . . . . 243 24 FinalRemarks. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249 Glossary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Bibliography. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259 Index. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263 Contents 1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 PartI IdeaofStrategicPlanning 2 Strategies,StrategicPlanningandSuccessPotentials. . . . . . . . . . . 7 2.1 Strategies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 2.2 StrategicPlanning. . . . .. . . . . . . . . . . . .. . . . . . . . . . . . . .. . 9 2.3 BuildingUpandMaintainingSuccessPotentialsastheMain PurposeofStrategicPlanning. . . . . . . . . . . . . . . . . . . . . . . . . 10 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 3 DevelopmentofStrategicPlanningandItsIntegrationinto StrategicManagement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 3.1 DevelopmentofStrategicPlanning. . . . . . . . . . . . . . . . . . . . . 17 3.2 IntegrationofStrategicPlanningintoStrategicManagement. . . 23 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 4 AssessingStrategicIntentions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 4.1 ConcretizationLevelsofStrategicIntentions. . . . . . . . . . . . . . 27 4.2 AssessingSuccessPotentialsandStrategies. . . . . . . . . . . . . . . 28 4.3 AssessingStrategicProjects. . . . . . . . . . . . . . . . . . . . . . . . . . 31 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 PartII StrategicDocumentsandtheStrategyPlanningProcess 5 StrategicDocuments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 5.1 CategoriesofStrategicDocuments. . . . . . . . . . . . . . . . . . . . . 37 5.2 Company-SpecificCombinationsofStrategicDocuments. . . . . 40 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 6 StrategyPlanningProcess. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 6.1 BasisoftheProcess. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 6.2 TheProposedStrategyPlanningProcess. . . . . . . . . . . . . . . . . 44 6.3 LinkingtheProcesswiththeMainAnalysisandPlanningTools. . . 49 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54 ix x Contents PartIII InitializingStrategicPlanning 7 DefiningtheCurrentStrategicBusinesses. .. . . .. . . . .. . . .. . . .. 57 7.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 7.2 DefiningandStructuringMarkets. . . . . . . . . . . . . . . . . . . . . . 57 7.3 NotionandTypesofStrategicBusinesses. . . . . . . . . . . . . . . . 59 7.3.1 Notion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 7.3.2 Types. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 7.4 ProcessforDefiningtheCurrentStrategicBusinesses. . . . . . . . 63 7.4.1 Overview.. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .. 63 7.4.2 DescriptionoftheSteps. . . . . . . . . . . . . . . . . . . . . . . 63 7.4.3 ExampleofApplyingtheProcess. . . . . . . . . . . . . . . . 65 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 8 PreparingtheStrategyPlanningProject. . . . . . . . . . . . . . . . . . . . 69 8.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 8.2 ProcessforPreparingtheStrategyPlanningProject. . . . . . . . . 70 8.2.1 Overview.. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .. 70 8.2.2 FormulatingKeyIssues. . . . . . . . . . . . . . . . . . . . . . . 71 8.2.3 DeterminingtheScopeoftheProject. . . . . . . . . . . . . 71 8.2.4 DecidingWhethertoHireaConsultant. . . . . . . . . . . . 71 8.2.5 FixingtheProjectProcessandtheProject Organization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73 8.2.6 BudgetingtheStrategyPlanningProject. . . . . . . . . . . 75 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 9 StakeholderAnalysisandRevisingtheMissionStatement. . . . . . . 77 9.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 9.2 StakeholderAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 9.3 Notion,EffectsandContentofMissionStatements.. . . .. . . .. 78 9.4 ProcessforStakeholderAnalysisandRevisingtheMission Statement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 9.4.1 Overview.. . . .. . . .. . . .. . . .. . . .. . . .. . . .. . . .. 80 9.4.2 DescriptionoftheSteps. . . . . . . . . . . . . . . . . . . . . . . 80 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 PartIV StrategicAnalysisattheCorporateLevel 10 GlobalEnvironmentalAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . 89 10.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 10.2 PESTELAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 10.3 ScenarioAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 10.4 ProcessfortheGlobalEnvironmentalAnalysis. . . . . . . . . . . . 94 10.4.1 Overview. .. . . .. . . .. . . .. . . .. . .. . . .. . . .. . . .. 94 10.4.2 DescriptionoftheSteps. . . . . . . . . . . . . . . . . . . . . . . 94 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 Contents xi 11 AnalyzingtheRelevantIndustries. . . . . . . . . . . . . . . . . . . . . . . . . 97 11.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 11.2 FiveForcesModel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 11.3 StrategicGroupsModel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 11.4 ProcessforAnalyzingRelevantIndustries. . . . . . . . . . . . . . . . 107 11.4.1 Overview. .. . . .. . . .. . . .. . . .. . .. . . .. . . .. . . .. 107 11.4.2 DescriptionoftheSteps. . . . . . . . . . . . . . . . . . . . . . . 107 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 12 PortfolioAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 12.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 12.2 BostonConsultingGroupPortfolio. . . . . . . . . . . . . . . . . . . . . 112 12.2.1 PortfolioMatrix. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 12.2.2 BasisofthePortfolio. . . . . . . . . . . . . . . . . . . . . . . . . 113 12.2.3 RecommendationsfortheBusinessesandthePortfolio asaWhole. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 118 12.3 McKinseyPortfolio. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 12.3.1 PortfolioMatrix. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 12.3.2 BasisofthePortfolio. . . . . . . . . . . . . . . . . . . . . . . . . 126 12.3.3 RecommendationsfortheBusinessesandthePortfolio asaWhole. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128 12.4 ProcessforPortfolioAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . 129 12.4.1 Overview. .. . . .. . . .. . . .. . . .. . .. . . .. . . .. . . .. 129 12.4.2 Methodologicaldecisions. . . . . . . . . . . . . . . . . . . . . . 129 12.4.3 EstablishingthePortfolio. . . . . . . . . . . . . . . . . . . . . . 131 12.4.4 AssessingthePortfolio. . . . . . . . . . . . . . . . . . . . . . . . 131 12.4.5 ExampleofApplyingtheProcess. . . . . . . . . . . . . . . . 132 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136 13 DiagnosingStrategicChallengesattheCorporateLevel. . . . . . . . . 137 13.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 13.2 SWOTAnalysis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 13.3 TOWSMatrix. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 13.4 ProcessforDiagnosingStrategicChallengesattheCorporate Level. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142 13.4.1 Overview. .. . . .. . . .. . . .. . . .. . .. . . .. . . .. . . .. 142 13.4.2 DescriptionoftheSteps. . . . . . . . . . . . . . . . . . . . . . . 142 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 PartV DevelopingtheCorporateStrategy 14 DevelopingandAssessingStrategicOptionsattheCorporate Level. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 14.1 Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 14.2 DiversificationandConcentrationasKeyStrategicIssues. . . . . 148 14.2.1 ReasonsforDiversificationorConcentration. . . . . . . . 148

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