Strategy in Action

Contents

Preface and Acknowledgments

Part I The Trajectory: Sharpening the Strategic Focus

1. The Realm of Strategy

Place of Strategy in Shaping and Guiding a Company

Social Responsibility and Strategy

From Concept to Practice

2. Strategic Direction of a Business-Unit

Focus on Business-Units

Four Vital Parts in a Business-Unit Strategy

Coping with Uncertainty

3. Portfolio Strategy for a Diversified Corporation

Business-Unit Versus Corporate Strategy

Portfolio Design

Major Moves to Attain Desired Portfolio

From Concept to Practice

4. Corporate Input Strategy

Corporate Resource Arsenal

Corporate Management of Synergies

Beyond the Portfolio

5. Shaping External Alignments

Hostile Versus Passive Environments

Analysis of Key Actors

Choice of Alignments

Maintaining Optimum Alignments

6. Birth and Nourishment of a New Strategy

Design of a Strategic Planning System

Impetus to Challenge the Status Quo

Acceptance and Commitment

Incrementalism

Part II Propulsion: Translating Strategy into Action

7. Programming -- Too Much or Too Little

Man-on-the-Moon Approach

Incrementalism -- Feeling Your Way

Selective Programming

Strategy Programs Versus Continuing Operations

8. Building Revised Patterns of Behavior

Diagnose Need for Changes in Behavior Patterns

Carefully Reshape Selected Behaviors

Creating a Focused Climate: Senior Executive Role

9. Organizing to Execute Strategy

Creating Operating Divisions That Match Strategy

When to Combine or Split Off Business-Units

Organizing Corporate Headquarters to Support Strategy

Organization in Transition

10. The Right Person and the Right Carrot

Matching Desired Executive Abilities with Strategy

Using Present Executives to Carry Out a New Strategy

Bringing in Outsiders

Distinctive Issues in Acquisitions

Incentives That Support Strategic Action

11. Resource Allocation -- Power of the Purse Strings

Impact of Resource Allocation on Strategy Execution

Two Tracks to Capital Allocation

Sources of Conflict for Allocations

Ways to Channel Capital Support for Strategy

Treatment of Strategic Expenses

Allocation of Non financial Resources

12. Controlling the Dynamic Process

Controlling the Future

Watch Progress on Strategic Thrusts

Monitor Key External Variables

dFull-Scale Reassessments at Milestones and Alerts

Maintain Integrity of the Strategic Management Process

Part III Integration: Strategy as a Moving Game Plan

13. Fitting Pieces into a Synergistic Whole

Building Fit into an Integrated Management System within Each Business-Unit

Adding Balance to the Integration of Each Business-Unit

Integration at the Corporate Level

14. Hitting a Moving Target in a Rough Sea

Ever-Changing Pressures for Action

Key to Adaptability: Progress Reassessments

Sequential Moves in Face of Uncertainty

Contingency Plans

Frequency of Progress Reassessments

Corporate Inputs to Progress Reassessments

Selected References

Index