Chapter 1 – The concept of strategy. This chapter explains what strategy is and why it is important to success – both for organizations and individuals. We will distinguish strategy from planning. Strategy is not a detailed plan or program of instructions; it is a unifying theme that gives coherence and direction to the actions and decisions of an individual or an organization. | PRESENTATION SLIDES To accompany Contemporary Strategy Analysis Concepts Techniques Applications 5th edition Blackwell 2004 Robert Robert M. M. Grant Grant Assisted by Kate Grant The The Concept Concept of of Strategy Strategy OUTLINE The role of strategy in success A framework for strategy analysis The evolution of strategic management Corporate strategy and business strategy Strategy making Design or process The role of strategy Elements Elements of of Success Success MADONNA GIAP amp NORTH RICHARD WILLIAMS VIETNAMESE MILITARY VENUS amp SERINA S DAD GOALS Single-minded quest for Reunification of Vietnam Wealth amp recognition stardom. under Communist rule. UNDERSTANDING Identified emerging trends Intimate knowledge of terrain. Careful diagnosis of THE in popular culture. Understanding U.S. political the physical and ENVIRONMENT Recognized power of sex. system. Psychological determinants Understood showbiz of success in women s distribution channels. professional tennis RESOURSE Recognized limited raw Recognized economic and Systematic developed APPRAISAL talent. Relied on strengths military weaknesses and key skills and physical in self-promotion image- political strengths. mental and social creation relationship attributes from an early age. management IMPLEMENT- Commitment to hard work. Tight control. Long-term Careful meshing of ATION Disciplined inspirational commitment. Effective roles father coach amp Leadership. Attention to propaganda. Inspirational manager. Sustained detail. leadership. supportive leadership. Common Common Elements Elements in in Successful Successful Strategy Strategy Successful Strategy EFFECTIVE IMPLEMENTATION Long-term Profound Objective simple and understanding of appraisal of agreed the competitive resources objectives environment What What is is Strategy Strategy Distinguishing strategy from tactics Strategy is the overall plan for deploying resources to establish a favorable position. Tactic is a scheme for a specific maneuver.