Strategic Management Lecture 1 PDF

1) Introduction to The Module ============================= Imperial College Business School Imperial means Intelligent Business 2) How to Think About Strategy ============================== Imperial College Business School Imperial means Intelligent Business  ![](media/ima...

1) Introduction to The Module ============================= Imperial College Business School Imperial means Intelligent Business 2) How to Think About Strategy ============================== Imperial College Business School Imperial means Intelligent Business   Strategy is the responsibility of the CEO; the CEO is held accountable by the shareholders to deliver value ----------------------------------------------------------------------------------------------------------- 3) How to Create a Winning Strategy =================================== Imperial College Business School Imperial means Intelligent Business How best to demonstrate **good** vs **bad** strategy? **Grocery retail** is a great place to start when exploring strategic choices and shifting business models - - - - - Imperial College Business School Imperial means Intelligent Business   Let's see what Carrefour had to say about strategic results: - -   7) Strategic Choices in eCommerce ================================= Imperial College Business School Imperial means Intelligent Business     My **7Tests of Strategy** -- once the draft document emerges 1. Have coherent across **we identified the key challenge(s) to solve** all its constituent parts? with this strategy, and is the overall resolution 2. Are we **targeting the right markets and categories**, with future growth potential (\"where to play\")? 3. Do we have a **highly differentiated offer or a cost leadership position** (\"how to win\") that will achieve competitive advantage in our chosen fields of play? 4. What (~people\ and\ capital),\ capabilities\ (skills,\ knowledge),\ systems\ (structures,\ culture\ and\ technology)?~ **business model(s)** will deliver the strategy and **what resources will we require**: assets 5. Are we **exploiting external resources** (suppliers and partners) to their full potential? 6. Is the strategy **sufficiently flexible**, and if not, do we believe the benefits outweigh the risks? 7. Are we **realistic about the cost to change**, and the **time it will take**?