Business Strategy
Managing Uncertainty, Opportunity, and Enterprise
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Product details:
- Publisher OUP Oxford
- Date of Publication 30 January 2014
- ISBN 9780199686544
- Binding Hardback
- No. of pages340 pages
- Size 241x163x24 mm
- Weight 674 g
- Language English 0
Categories
Short description:
Emphasising that firms face uncertainties and unknowns, this book argues that the core of strategic thinking and processes rests on the organization and its leaders developing newly imagined solutions to the opportunities that these uncertainties open up. It presents new approaches for managers, consultants, strategy teachers and students.
MoreLong description:
What is strategy? For many it is the application of a theory, model or framework. In this book Spender develops a different creative approach. Emphasizing that firms face uncertainties and unknowns (knowledge gaps) he argues that the core of strategic thinking and processes rests on the organization's leaders developing newly imagined solutions to the opportunities that these uncertainties open up.
Drawing on a wide range of ideas from strategy, economics, entrepreneurship and philosophy he stresses the importance of judgment in strategy, and argues that a key element of the entrepreneur and executive's task is to engage chosen uncertainties, develop a language to express and explain the firm's particular business model for dealing with these, and thus create innovation and value. At the same time he shows how the language the strategist creates to do this gives the firm identity and purpose, and communicates this to its members, stakeholders, and customers.
In an accessible and engaging style Spender introduces these ideas, and reviews the strategy tools currently available from consultants and academics. Throughout he stresses the uncertainties or knowledge absences that pervade business and make effective strategizing both necessary and valuable. He outlines a structured practice that managers and consultants might chose to follow, not a theory.
With appendices on casework, teaching strategy, current strategy texts, and further reading this book makes an important contribution to our understanding of the field and practice of strategy, opening up new approaches for managers, consultants, strategy teachers and students.
In this fascinating book, Spender integrates decades of study of uncertainty, knowledge (and lack of it), entrepreneurship, industry recipes, language, and judgment into mainstream strategic analysis. The result a brilliant reinterpretation of strategy tools and uncertain situations. Nurtured on economic rationality, I found this a major step towards closing the gap between managerial practice and strategic theorizing.
Table of Contents:
Introduction to Strategic Work, Language, and Value
Strategic Analysis - Consulting Tools
Strategic Analysis - Academic Models
Building Language and the Business Model
Persuading Supporters
The Business Strategist's World
Appendix A - On Case Writing and Teaching
Appendix B - Teaching from This Book
Appendix C - Some Strategy Texts and Their Implicit Theory
Appendix D - Further Reading
