Business Strategy: Managing Uncertainty, Opportunity, and EnterpriseWhat 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. |
Contents
Introduction to Strategic Work Languageand Value | 1 |
Strategic AnalysisConsulting Tools | 42 |
Strategic AnalysisAcademic Models | 96 |
Building Language and the Business Model | 144 |
Persuading Supporters | 202 |
The Business Strategists World | 247 |
Other editions - View all
Business Strategy: Managing Uncertainty, Opportunity, and Enterprise J.-C. Spender Limited preview - 2014 |
Business Strategy: Managing Uncertainty, Opportunity, and Enterprise J. -C. Spender Limited preview - 2014 |
Business Strategy: Managing Uncertainty, Opportunity, and Enterprise J.-C. Spender No preview available - 2015 |
Common terms and phrases
5-force model academic action activity analysis analyzing approach argued Balanced Scorecard BM’s business model business schools Chapter choice Clausewitz collaboration communication competitive constraints construction context contract costs create creative deal defined developed discussion dynamic economic economic rents economists engage entrepreneurs exist experience firm’s strategic goals her/his human ideas ignorance imagination impact implies incommensurability indeterminacy intention interaction Knightian uncertainty knowledge absences labor language learning logical management’s managerial matrix meaning microeconomic nature neoclassical economics non-rivalrous notion opportunity space organizational Paradigm particular perhaps persuade phronesis political Porter’s possible practice presume production profit question rational relevant rent-seeking rent-stream rhetoric rigorous Scenario Planning situation situation’s social specific strategic judgment Strategic Management strategic tools strategist strategizing process SWOT synthesizing tacit tacit knowledge talk tegic theory Theory of Constraints things tion today’s Transaction Cost Economics understand value-adding