Summary: Your Strategy Needs a Strategy E-Book

BusinessNews Publishing

• Herausgeber: Business Book Summaries
• Kategorie: Lebensstil
• Sprache: Englisch

Seitenzahl: 33

Veröffentlichungsjahr: 2016

Beschreibung

The must-read summary of Martin Reeves, Knut Haanaes and Janmejaya Sinha's book: "Your Strategy Needs a Strategy: How to Choose and Execute the Right Approach".

This complete summary of the ideas from Martin Reeves, Knut Haanaes and Janmejaya Sinha's book "Your Strategy Needs a Strategy" explains that strategy is not a one-size-fits-all concept; it must be adapted based on your personal needs and the current market. Once you have assessed the market (is it predictable? Is it harsh or favourable?), you can choose the strategy that is best-suited to you. For example, if you are operating in a predictable market with stable competitors, you would select a Classical approach to position yourself optimally within the market, through differentiation or economies of scale. The authors talk about five different possible strategies, what sort of business' suit each strategy and how they can be used to improve your business. If you're looking for better returns, the best thing to do is to change your strategy and this summary will tell you exactly how.

Added-value of this summary:
• Save time
• Understand key concepts
• Increase your business knowledge

To learn more, read "Your Strategy Needs a Strategy" and discover how you can adapt your strategy in order to thrive in any market.

Leseprobe

Book Presentation:Your Strategy Needs A Strategy by Martin Reeves, Knut Haanaes and Janmejaya Sinha

Summary of Your Strategy Needs A Strategy (Martin Reeves, Knut Haanaes and Janmejaya Sinha)

Book Presentation:Your Strategy Needs A Strategy by Martin Reeves, Knut Haanaes and Janmejaya Sinha

Book Abstract

MAIN IDEA

A strategy is always just a means to an end – a systematic way to generate favorable outcomes. Good strategy is never one-size-fits-all but will always be dependent on three questions:

Depending on how you answer those questions, there really are just five generic approaches to strategy from which you can mix and match:

"Strategy is, in essence, problem solving, and the best approach depends on the specific problem at hand. Your environment dictates your approach to strategy. You need to assess the environment and then match and apply the appropriate approach. Using the right approach pays off. In our research, firms that successfully match their strategy to their environment realized significantly better returns – 4 to 8 percent of total shareholder returns – over firms that didn't."

– Martin Reeves, Knut Haanaes and Janmejaya Sinha

About the Author

MARTIN REEVES is a senior partner and managing director of Boston Consulting Group's New York office. He heads up BCG's research institute and specializes in studying self-tuning organizations and corporate longevity. He joined BCG in 1989 and has lead the firm's Japan Health Care practice and other units.

KNUT HAANAES is a senior partner at BCG and the global leader of BCG's Strategy practice. He consults widely with global clients in many industries and sectors and focuses on value creation and growth. He is passionately interested in how sustainability can drive innovation and the creation of new business models. Knut Haanaes is a graduate of the Norwegian School of Economics and the Copenhagen Business School.

JANMEJAYA SINHA is chairman of BCG's Asia Pacific practice. He specializes in analyzing how large organizations make transformations and corporate governance. He is a regular speaker at the World Economic Forum and the author of Own the Future. He is a graduate of Princeton University, Cambridge University and St. Stephen's College, Delhi.

The Web site for this book is at www.bcgperspectives.com/yourstrategyneedsastrategy.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, view points and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of Your Strategy Needs A Strategy (Martin Reeves, Knut Haanaes and Janmejaya Sinha)

Strategy #1 CLASSICAL "Be big"

Low unpredictabilityLow flexibilityFavorable

When you're in a predictable marketplace with stable competitors and the opportunity to secure a sustainable competitive advantage, the goal is to position yourself optimally within the market. You do this by achieving economies of scale, by differentiation or by achieving superior operational capabilities. This is the most familiar strategy.

With a classical business strategy, you're going after a sustainable competitive advantage. Therefore, your approach to planning will likely be:

You do rigorous analysis to identify attractive markets worth entering and the competitive dynamics within those markets or niches.You then construct a plan for how you can achieve your preferred position within that market. The plan will detail how you will build and sustain a tangible competitive advantage.You then apply the resources required to execute your plan taking care to get every part of your organization working efficiently towards that objective. You then work to make small, constant and ongoing performance improvements.

A classical business strategy is like painting a still-life masterpiece. You sketch out what you want and then work methodically to apply the paint with well measured brush strokes. The end result is exactly what you envisaged it would be.

The industries where the classical business strategy works best tend to be low growth and mature with stable regulatory environments such as:

Utilities