| Preface | p. v |
| Brief contents | p. vii |
| Contents | p. ix |
| List of figures | p. xvii |
| List of insets | p. xxiii |
| Introduction | p. 1 |
| Idea of strategic planning | p. 5 |
| Strategies, strategic planning and success potentials | p. 7 |
| Strategies | p. 7 |
| Strategic planning | p. 8 |
| Building success potentials as main purpose of strategic planning | p. 8 |
| Development of strategic planning | p. 15 |
| Four phases in the development of strategic planning | p. 15 |
| Role of strategic planning within strategic management | p. 18 |
| Assessment of strategies | p. 23 |
| Basic reflections on the assessment of strategies | p. 23 |
| Model for the assessment of strategies | p. 24 |
| Process of strategic planning and resulting documents | p. 29 |
| Strategic documents as the result of strategic planning | p. 31 |
| Basic types of strategic documents | p. 31 |
| Combinations of strategic documents for specific companies | p. 35 |
| Process of strategic planning | p. 45 |
| Need for a systematic process of strategic planning | p. 45 |
| Overview of the process of strategic planning | p. 46 |
| Brief note on the steps of the process | p. 50 |
| Strategic planning process of an electricity provider | p. 54 |
| Adapting the process of strategic planning | p. 60 |
| Strategic analysis and planning toolbox | p. 65 |
| Important tools of strategic analysis and planning | p. 65 |
| Allocating the tools to three fields of analysis and to the steps in the planning process | p. 67 |
| Project planning, analysis and mission statement revision | p. 73 |
| Strategy project planning | p. 75 |
| Why strategic planning should be seen as a project | p. 75 |
| Sub-tasks of strategy project planning | p. 76 |
| Overview | p. 76 |
| Determining the scope | p. 76 |
| Determining the objectives and boundary conditions | p. 77 |
| Deciding whether to hire a consultant | p. 79 |
| Fixing the project organization | p. 80 |
| Fixing the process and the milestones | p. 83 |
| Budgeting the cost | p. 83 |
| Strategic analysis | p. 87 |
| Need for analysis before strategies are developed | p. 87 |
| Content and conclusions of analysis | p. 88 |
| Description of the applied methods | p. 91 |
| Choice of the methods applied in analysis | p. 91 |
| Global environmental analysis | p. 92 |
| Description of the market system | p. 93 |
| Identification of success factors | p. 95 |
| Analysis of strengths and weaknesses | p. 98 |
| Stakeholder value analysis | p. 99 |
| Process of strategic analysis | p. 102 |
| Overview | p. 102 |
| Determining the preconditions for analysis | p. 102 |
| Carrying out the analysis | p. 107 |
| Revision or production of the mission statement | p. 111 |
| Nature, effects and content of mission statements | p. 111 |
| Process of revising or producing the mission statement | p. 114 |
| Overview | p. 114 |
| Steps of revising or producing the mission statement | p. 116 |
| Developing the corporate strategy | p. 119 |
| Defining the strategic businesses | p. 123 |
| Strategic business as a three dimensional construct | p. 123 |
| Two types of strategic business | p. 125 |
| Constellations of strategic business fields and strategic business units | p. 130 |
| Defining strategic businesses | p. 132 |
| Assessing relevant industries with the help of competitive intensity models | p. 141 |
| Basic reflections on the assessment of competitive intensity | p. 141 |
| Analyzing industry structure with the Five Forces model | p. 143 |
| Basic concept | p. 143 |
| Areas of application | p. 145 |
| Procedure | p. 145 |
| Analyzing structures within industries with the Strategic Groups model | p. 153 |
| Basic concept | p. 153 |
| Areas of application | p. 154 |
| Procedure | p. 155 |
| Setting up and assessing the portfolio of businesses | p. 161 |
| Basis of portfolio methods | p. 161 |
| Market growth - market share portfolio | p. 163 |
| Portfolio matrix | p. 163 |
| Norm strategies | p. 167 |
| Recommendations for the portfolio as a whole | p. 168 |
| Industry attractiveness - competitive strength portfolio | p. 169 |
| Portfolio matrix | p. 169 |
| Norm strategies and recommendations for the portfolio as a whole | p. 177 |
| Portfolio analysis and planning process | p. 178 |
| Overview of the process | p. 178 |
| Preliminary methodological decisions | p. 179 |
| Description of the current portfolio | p. 180 |
| Predicting changes in real market growth or industry attractiveness | p. 180 |
| Assessment of the current portfolio | p. 181 |
| Planning the target portfolio | p. 181 |
| Portfolio analysis and planning in a retail group | p. 182 |
| Corporate strategy development process | p. 189 |
| Overview | p. 189 |
| Defining the strategic businesses | p. 191 |
| Describing the current corporate strategy and forecasting developments relevant to its assessment | p. 192 |
| Assessing the current corporate strategy | p. 199 |
| Developing and assessing options for future corporate strategy | p. 200 |
| Developing options | p. 200 |
| Formulating the general intention | p. 203 |
| Determining the future businesses and their targets | p. 207 |
| Determining the way to construct, develop or divest businesses | p. 211 |
| Assessing the options and formulating the provisional corporate strategy | p. 215 |
| Developing the business strategies | p. 217 |
| Generic business strategies | p. 221 |
| Basic reflections on the generic business strategies | p. 221 |
| Overview of the generic business strategies | p. 221 |
| Broad scope price strategy | p. 225 |
| Broad scope differentiation strategy | p. 227 |
| Niche focus strategies | p. 228 |
| A niche as a specific form of industry segment | p. 228 |
| Identification and assessment of niches with the help of industry segment analysis | p. 230 |
| Requirements for niches | p. 232 |
| Success conditions and risks of the generic business strategies | p. 235 |
| Success conditions of the generic business strategies | p. 235 |
| Risks of the generic business strategies | p. 238 |
| Transitional strategies and strategy alternation | p. 240 |
| Basic reflections on transitional strategies and strategy alternation | p. 240 |
| Transitional strategies | p. 241 |
| Strategy alternation | p. 244 |
| Specifying business strategies at the level of the offer | p. 247 |
| Basic reflections on specifying business strategies at the level of the offer | p. 247 |
| Specifying the offer for a price strategy | p. 247 |
| Three areas of specification | p. 247 |
| Specifying the products and services | p. 248 |
| Specifying the mix of products and services | p. 248 |
| Specifying the pricing | p. 250 |
| Specifying the offer for a differentiation strategy | p. 251 |
| Importance of a clear view of the served industry segments and of the main competitors | p. 251 |
| Strategic positioning of the offer | p. 252 |
| Ideas for the strategic positioning of the offer | p. 254 |
| Identification of success factors and analysis of strengths and weaknesses as basis for specifying the offer | p. 261 |
| Specifying business strategies at the level of resources | p. 265 |
| Basic reflections on specifying business strategies at the level of resources | p. 265 |
| Understanding resources | p. 266 |
| Valuable resources | p. 267 |
| Determining which resources to build or maintain | p. 270 |
| Overview | p. 270 |
| Identifying the resources creating customer value | p. 271 |
| Determining which of the resources creating customer value are rare | p. 277 |
| Assessing sustainability of the resources creating customer value and found to be rare | p. 278 |
| Business strategy development process | p. 279 |
| Overview | p. 279 |
| Describing and assessing the current business strategy | p. 281 |
| Determining and assessing options for the future generic business strategy and the target industry segments | p. 282 |
| Determining the future competitive advantages | p. 283 |
| Network of success potentials as an approach to developing the future competitive advantages | p. 283 |
| Basic possibilities for competitive advantages | p. 290 |
| Criteria for assessing the future competitive advantages | p. 291 |
| Developing the business strategy of a watch manufacturer | p. 293 |
| Implementing, assessing and approving the strategies | p. 299 |
| Defining the implementation | p. 301 |
| Basic reflections on implementing strategies | p. 301 |
| Types of strategic program | p. 306 |
| Process of defining the implementation | p. 309 |
| Overview | p. 309 |
| Steps of defining the implementation | p. 310 |
| Final assessment of strategies and implementation | p. 315 |
| Need for a final assessment | p. 315 |
| Assessment criteria | p. 315 |
| Overview | p. 315 |
| Assessment of the overall value of strategies | p. 315 |
| Assessment with the remaining sets of criteria | p. 321 |
| Process of final assessment of strategies and implementation | p. 326 |
| Overview | p. 326 |
| Steps of final assessment of strategies and implementation | p. 326 |
| Formulating and approving the strategic documents | p. 329 |
| Basic reflections on strategic documents | p. 329 |
| Process of formulating and approving the strategic documents | p. 329 |
| Overview | p. 329 |
| Steps of formulating and approving the strategic documents | p. 329 |
| Final remarks | p. 335 |
| Glossary | p. 337 |
| Index | p. 347 |
| Bibliography | p. 353 |
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