ESSENTIAL MANAGERS Strategic Management ANALYZING • PLANNING • FOCUS PRIORITIZING • MONITORING ESSENTIAL MANAGERS Strategic Management KEVAN WILLIAMS Contents London, New York, Melbourne, Munich, and Delhi Senior Editor Peter Jones US Editor Margaret Parrish Senior Art Editor Helen Spencer Production Editor Ben Marcus Production Controller Hema Gohil Executive Managing Editor Adèle Hayward Managing Art Editor Kat Mead Art Director Peter Luff Publisher Stephanie Jackson Produced for Dorling Kindersley Limited by The Stables, Wood Farm, Deopham Road, Attleborough, Norfolk NR17 1AJ www.cobaltid.co.uk Editors Kati Dye, Maddy King, Marek Walisiewicz Designers Paul Reid, Lloyd Tilbury First American Edition, 2009 4 Introduction CHAPTER 1 Understanding strategy 6 Planning for change 8 Counting the benefits 10 Leading your competitors 12 Looking to the future 14 Shaping your strategy Published in the United States by DK Publishing 375 Hudson Street, New York, New York 10014 09 10 11 10 9 8 7 6 5 4 3 2 1 ND134—March 2009 CHAPTER 2 Copyright © 2009 Dorling Kindersley Limited All rights reserved Linking strategy to the market Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior written permission of both the copyright owner and the above publisher of this book. 16 Looking ahead Published in Great Britain by Dorling Kindersley Limited. 20 Looking at major forces A catalog record for this book is available from the Library of Congress. 22 Assessing the market ISBN 978-0-7566-4859-6 24 Choosing your approach DK books are available at special discounts when purchased in bulk for sales promotions, premiums, fund-raising, or educational use. For details, contact: DK Publishing Special Markets, 375 Hudson Street, New York, New York 10014 or
[email protected] Color reproduction by Colorscan, Singapore Printed in China by WKT Discover more at www.dk.com 18 Analyzing your environment 26 Fitting or stretching 28 Choosing your customers 30 Avoiding competition 32 Three generic strategies CHAPTER 3 CHAPTER 4 Creating a good strategy Implementing your strategy 34 Setting the priorities 52 Demonstrating leadership 36 Evaluating your options 54 Achieving cultural fit 40 Reading the future 56 Preparing others for change 42 Involving stakeholders 60 Overcoming resistance 44 Linking strategy to structure 62 Guiding your team 46 Knowing when to change 64 Monitoring progress 50 Working with others 66 Managing knowledge 68 Staying on top 70 Index 72 Acknowledgments