E-Book Overview
Strategy execution has far more potential for value creation than does strategy formulation. This book offers a complete tool kit to help firms achieve world-class strategy execution status. It focuses on initiative management, aligning executive, operating, and support processes with market rhythms, the seven stages of business growth, and time-phasing initiatives with the competitive realities of the firm's environment. It also demonstrates how to track the ripple effects of change throughout the organization.
E-Book Content
THE NEW SCIENCE OF STRATEGY EXECUTION: HOW ESTABLISHED FIRMS BECOME FAST, SLEEK WEALTH CREATORS William R. Bigler, Jr.
PRAEGER
THE NEW SCIENCE OF STRATEGY EXECUTION
THE NEW SCIENCE OF STRATEGY EXECUTION HOW ESTABLISHED FIRMS BECOME FAST, SLEEK WEALTH CREATORS William R. Bigler, Jr. with Marilyn Norris
Westport, Connecticut London
Library of Congress Cataloging-in-Publication Data Bigler, William Randolph, 1950– The new science of strategy execution : how established firms become fast, sleek wealth creators / William R. Bigler, Jr. with Marilyn Norris. p. cm. Includes bibliographical references and index. ISBN 1–56720–563–1 (alk. paper) 1. Strategic planning. 2. Executive ability. 3. Organizational change. 4. Organizational effectiveness. 5. Technological innovations. 6. Corporate profits. 7. Corporations—Finance. I. Norris, Marilyn. II. Title. HD30.28.B545 2004 658.4'012—dc22 2003057984 British Library Cataloguing in Publication Data is available. Copyright © 2004 by William R. Bigler, Jr. All rights reserved. No portion of this book may be reproduced, by any process or technique, without the express written consent of the publisher. Library of Congress Catalog Card Number: 2003057984 ISBN: 1–56720–563–1 First published in 2004 Praeger Publishers, 88 Post Road West, Westport, CT 06881 An imprint of Greenwood Publishing Group, Inc. www.praeger.com Printed in the United States of America
The paper used in this book complies with the Permanent Paper Standard issued by the National Information Standards Organization (Z39.48–1984). 10 9 8 7 6 5 4 3 2 1
This book is dedicated to the memory of my wife, Mary Judith Johnson Bigler, Who lost a courageous battle with cancer on December 21, 1998, And to my children Cameron and Taylor, who may learn to love life’s journey, not just its destination.
I hope this book makes a small contribution to the strengthening of free enterprise.
Contents
Illustrations
xi
Preface
xiii
Acknowledgments
xvii
Part I
The New Science of Strategy Execution 1 How Established Firms Become Fast, Sleek Wealth Creators Strategy Development Has Changed Forever An Overview of the New Science of Strategy Execution Symptoms of Organizational Dysfunction Conclusion
2 The Foundations of the New Science of Strategy Execution Foundation 1: Market Rhythms Foundation 2: Executive Process Cycle Time Foundation 3: A Portfolio of Initiatives Foundation 4: New Measures for Executive Efficiency, Productivity, and Effectiveness Conclusion
3 Market Rhythms and the 10 S’s of the New Economy Measuring Market Rhythm The 10 S’s of the New Economy Conclusion
1 3 4 5 7 8 11 11 12 14 16 17 19 19 25 27
viii
Contents
Part II The Five Key Aspects of the New Science
29
4 Initiative Management for Growth and Innovation
31
Initiative Management Defined Dysfunctional Initiative Management: A Case Study Initiative Management: A Better Way The Initiative Management Process Monitoring the Status of an Initiative Contention Management and Executive Activism The Benefits of Initiative Management Conclusion
31 32 33 37 40 41 42 42
5 Aligning Processes with Market Rhythms Defini