Strategic Concepts
Written primarily for students taking courses in strategy at undergraduate and MBA level, Strategic Concepts provides a balanced analysis and guide to the main trends and concepts in business strategy over recent years. The main topics are presented as a
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Strategic Concepts CLIVE SUTTON
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Business
© Clive Sutton 1998
Softcover reprint of the hardcover lst edition 1998 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London WIP 9HE. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. First published 1998 by MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world ISBN 978-0-333-72530-6 ISBN 978-1-349-26670-8 (eBook) DOI 10.1007/978-1-349-26670-8 A catalogue record for this book is available from the British Library. 10987654321 07 06 05 04 03 02 01 00 99 98 Copy-edited and typeset by Povey-Edmondson Tavistock and Rochdale, England
Contents List of Figures
IX
Preface
Xl
1 The Nature of Strategic Thinking
1
INTRODUCTION
An Example: The Daimler-Benz Group STRATEGY, CHOICE AND UNCERTAINTY
Strategic Choice Uncertainty
3
4
OBJECTIVES
The Time Horizon The Nature of a Firm's Objectives Objectives and Proxies Multiple Objectives STRATEGIC ANALYSIS
Characteristics Context Choice
5 5
7 8 8 10 11
12 13
14 16 17 17 17 18 19 19 20
STRATEGIC MODES TENSIONS IN STRATEGIC THINKING
Size Supply Chains Diversity Innovation Mergers Networks Summary 2
1 1 2
Developments in Strategic Thinking INTRODUCTION PHASE 1: THE DOMINANCE OF TECHNOLOGY
Large Size Growth and Diversification PHASE 2: THE SEARCH FOR QUALITY
Quality of Output A Balanced Portfolio Competitive Forces v
21
21 22 22 24 27 27 28 29
Contents
VI
Focus Flexibility Future
30 30 31 32 34 35 35 36 37 37 37 38
3 Size and Rationalisation
39
PHASE 3: LEANNESS AND COMPETITION
Global Changes in Competition Lean Production Firms' Conduct Versus Industrial Structure Niche Markets and Mobility Barriers PHASE 4: RESPONSIVENESS AND INNOVATION
Continuous Innovation A Lean Portfolio OVERVIEW: THREE ELEMENTS
INTRODUCTION ENDURING ADVANTAGES OF SIZE
Economies of Scale Stature PROBLEMS OF SIZE
Technical and Market Factors Behavioural Factors Behavioural Examples RESTRUCTURING AND RE-ENGINEERING
Restructuring in Principle Restructuring in Practice DELAYERING - SOME RESERVATIONS
Incentives Corporate Memory Co-ordination SMALL FIRMS - CHARACTERISTICS
Size and Scale Diversity Risk of Failure Agglomeration SMALL FIRMS - STRATEGIC CONSIDERATIONS
Strategic Advantages Minimising Disadvantages Outcomes SYMBIOSIS
4 Supply Chain Co-ordination INTRODUCTION THE MAIN ISSUES
39 39 39 41 42 42 43 45 47 47 48 50 50 50 52 52
