The Strategic Management Process

Cascade Strategy

Strategic management refers to how organizations define the business outcomes that they want to achieve, and then how they will utilize their resources to achieve those outcomes. Strategic management covers strategic planning , implementation and strategy iteration. Strategy Execution

Integrating corporate sustainability in strategic management

Norbert Bol

Based on a literature review of 114 peer-reviewed scientific journal articles it shows that sustainability is an important topic for managers but they just rarely consider it in strategic management. Many companies therefore still lack a strategic approach to integrating corporate sustainability into strategy. In my opinion the starting point in the integration of corporate sustainability in strategic management is manager attitude and behaviour.

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4 Disciplines Essential to Strategy Implementation

Focused Momentum

With a strategic plan complete, the leadership challenge switches from strategic thinking to strategic management. Fundamental to the successful management of a new strategic direction is an organization's ability to guide strategy implementation while managing the current plans and commitments. In this series, I will take you through four steps to guide any organization through the first critical months of strategy implementation.

Don’t Bite! Your mantra to successfully lead strategy implementation.

Focused Momentum

But in strategy development, the enthusiasm of working hard to create brilliant new thinking can quickly fade when you get to the implementation phase. Strategic ManagementIf you are like most of us, building something you're proud of makes you excited to share it. The initial optimism can turn to frustration and despair if you let it get picked apart in service to protecting the status quo. But this does not have to happen, simply don't bite.

Sustainability strategy in tough times

Norbert Bol

Sustainability strategy in constrained economic times “ The different articles in this special edition all focus on the sustainability behavour of companies in tough times. Based on the articles in the special issue it appears that companies find innovative ways to do more with less and increase firm value without undertaking significant cutbacks on their sustainability strategy. Strategic Management Innovation Leadership Strategy Sustainability

Passing 100 Strategy Blogs: Innovation for sustainability is complex but has a global interest.

Norbert Bol

Today I am writing my 100th blog post on Strategy Blogs. When I started to blog about strategy, innovation and sustainability, I had no experience in blogging. The main idea was to explore the possibilities of blogging about a topic that I find very intriguing, which is: “how to manage innovation for sustainability”? A topic that is relevant for all of us, regardless if we are a manager, an employee, a consumer or an investor.

CEO’s who are blogging about strategy

Norbert Bol

In this Strategy Blog I would like to share with you the blogs of CEO’s that I follow because they also discuss strategic management issues. If you have additions to this list of CEO’s who blog about strategic management issues please let me know. Strategic Management Communication Leadership Marketing Social Media Strategy

Strategy and Boxes

Eddielogic

During my readings I came across two very different quotas about the problem with strategy and boxes or categories. Strategic thinking and mental boxes are two things that don’t fit together very well. This is basically the message from the two quotas: The first one is from Henry Minzbergs book ‘ Rise and Fall of Strategic Planning ’: “Note that the problem in such planning systems in not any specific category so much as the process of categorization itself.

Best Strategy Blog in 2015

Norbert Bol

The best read strategy blog in 2015 was the blog from 1 February 2015 about “ Sustainability driving innovation “ I personally like this blog the most as well, as it supports the evidence that sustainability strategies stimulate innovation, beacuse sustainability needs new knowledge and capabilities. It also shows why sustainability is a great strategy. Strategic collective system building to commercialize sustainability innovations.

Strategy Quotes Part 4

CMOE

This section will cover inspirational quotes about strategic management. The post Strategy Quotes Part 4 appeared first on CMOE. Strategic Priorities Strategic Success Strategic Thinking StrategyThis is the fourth installment of a four part series about leadership quotes.

Sufficiency as the ultimate business strategy for sustainability?

Norbert Bol

When companies are innovating for sustainability there are different strategies that can be pursued. In general these strategies aim to create positive benefits and/or to reduce negative impacts for society and nature. In a sufficiency-based approach however an alternative approach is taken to doing business as it is seeking to reduce or moderate consumption in addition to other sustainability strategies. Strategic Management CSR Innovation Sustainability

20 Of The Best Strategy Tools For Your Organization

Cascade Strategy

Strategy is a huge deal for most organizations. That's why we've compiled this comprehensive guide to the best strategy tools available. What's more, we've broken down the different strategy tools into the difference phases of the strategic management process. So wherever you are in your strategic journey , you'll have quick and easy access to the best possible business strategy tools. Strategy Execution

Tools 40

Bridging the gap between sustainability strategy formulation and implementation

Norbert Bol

Formulating a sustainability strategy can be a challenging task. Implementing the strategy in an organization is even a bigger challenge. Implementing a sustainability strategy is even very demanding if there is a clear vision of sustainability, the sustainability strategy is clearly formulated and there is considerable willingness to engage in further action on sustainability implementation. Strategic Management CSR Innovation Leadership Sustainability

The Way to Successfully Share a Strategy

BrainZooming

Two junior team members in chief of staff / program manager roles asked how to best align with senior leaders to successfully share a strategy across an organization. The Way to Successfully Share a Strategy. What can a senior leader do to share personal perspectives and expectations to facilitate stronger strategy implementation in an organization? Facilitate objectivity when judging the effectiveness and success of early strategy implementation.

3 ways to put your mission statement to work

Focused Momentum

A mission statement can inspire and fulfill a unique role in your strategic management toolkit , but they often play a boring role in the organizations that have them. I confess, I too tend to overlook the mission statement when developing strategy with leadership teams, but it is NOT because I don't understand their strategic importance. It is because when given the chance, groups tend to want to spend our precious strategic thinking time wordsmithing.

Our new normal: how we have responded to these strange times.

Focused Momentum

The late winter and early spring is the time when we wrap up the strategic planning engagements launched in the prior year, and I concentrate on creating the content that we will build programs around for the next 12 - 18 months. Strategic Management

What is your approach to strategy? Two quotes on change give direction

Eddielogic

As with many things, it is much easier to write about good strategy making than to actually do it. Every strategist and every business needs to make up his own guiding theme that gives him direction in the wide field … Continue reading → Quote Strategic Management Thinkers change strategic thinkers

The new roaring 20’s

Norbert Bol

Strategic Management Creativity Innovation Learning Strategy Sustainability TechnologyHappy New Year to everyone and welcome in the new roaring ’20s. In the coming decade, we shall experience how Artificial Intelligence (AI) is going to be more important in our everyday lives. AI will give us more opportunities to be more productive as AI never sleeps and giving us room to be more creative in becoming more sustainable.

Green finance through shared savings

Norbert Bol

Strategic Management Collaboration Finance Green Investment Real Estate SharedSavings Strategy Sustainability TechnologyLast week I wrote about the “ green finance gap “, where investments in green technology suffer from a lack of financial resources and less attractive risk-return expectations compared to other investments.

Connect Progress with the Plan at Mid-Year.

Focused Momentum

There is so much time and attention taken by planning and managing that the equally important role of communicating is given short shrift. The pressure on time and attention is unusually high during the first phase of the strategy implementation when demand increases to manage the existing business while completing detailed planning to achieve future goals. Strategic ManagementLeading a project, team, or company can feel all-consuming.

Technology and sustainability optimism

Norbert Bol

Strategic Management Strategy Sustainability Innovation Learning Technology NarrativeInnovative sustainable technology is considered to be positively contributing to sustainability. For example where new technologies are able to solve climate change problems providing clean energy solutions. Gonella et al. 2019) show in their article that we often have a too optimistic view on technology and sustainability.

Sustainable futures based on Shakespeare

Norbert Bol

Last week I wrote about the use of narratives in strategic foresight using the speeches of Steve Jobs as examples (see last week’s blog ). Van Cattenburg & Duijn (2019) present in their new article in Futures, how the allegorical narratives of William Shakespeare (1564-1616) can be used in strategic foresight and complex issues such as sustainability. Strategic Management Innovation Learning Narrative Strategic Foresight Strategy Sustainability

At what speed do we close the green finance gap?

Norbert Bol

For example banks have strengthened their regulation, supervision and risk management under Basel III (an internationally agreed set of measures developed by the Basel Committee on Banking Supervision) with more emphasis on liquidity. Strategic Management Finance Innovation Investment Strategy Sustainability

A happy and healthy 2019! Making sustainable choices

Norbert Bol

Business Strategy and the Environment. Strategic Management Innovation Strategy Sustainability SustainnovateAt the start of 2019 I wish everyone a happy and healthy 2019! Whatever in life we are planning to do to be happy and healthy, we have different options to choose when we are buying a product or a service. Do we always choose the most sustainable option? The short answer is no. Shim et al.

Study 58

Don't be Afraid to Make Radical Changes

Focused Momentum

In a strategy session, when the group comes right up to a big possibly radical decision and stops, I am known to say, “Come on, we all put our big girl and big boy pants on today.” Strategic ManagementI have a small painted dish that sits on my desk that says, “Put on Your Big Girl Underpants and MOVE ON.” It was a thoughtful gift from a client.

Begin with the Change You Want to Create.

Focused Momentum

Strategic planning efforts ideally create a long-term “road map” leading to future success. This blog series offers five tweaks to how you lead through strategy implementation to strengthen strategic results. In this post, I share with you how you can begin limited implementation immediately and unleash new momentum needed to push hard on the more complex strategic goals. Strategic Management

Strategic foresight: learning from Steve Jobs

Norbert Bol

The combination of vision and taking appropriate actions made him a great example of a discipline which is called strategic foresight. This discipline includes all activities related to forecasting, scenario analysis, action planning and decision making about strategy. The best way to make sense of strategic foresight is by looking at the narratives that are being used (Sarpong et al., Strategic foresight and the theory of narrative and time.

Corporate culture on sustainability

Norbert Bol

S ustainability issues are often multidimensional and cannot only be managed through logic. The authors show in their article that the framework can be used for management and measuring performance. Strategic Management Behaviour Business Culture Innovation Strategy SustainabilityIn my last blog I related culture to sustainability.

Successful sustainability

Norbert Bol

Strategic Management Innovation Leadership Learning Strategy SustainabilityOn our way to becoming a green economy, we need products and services that have a positive impact on the environment and society. Companies are researching, developing and testing many environmental product and service innovations. Clausen et al. 2019) show that there is not a lack of these innovations, but there is a too low percentage of these innovations that are successful. .

Responsible Artificial Intelligence

Norbert Bol

Viewing AI-systems from a risk management perspective. Clarke (2019) also indicates that organizations should evaluate the appropriateness of AI technologies to their own operations through risk assessment and risk management processes. From a risk management perspective, this needs oversight. Strategic Management Artificial Intellgence Innovation Learning Strategy Sustainability Technology

Branding Strategy – 14 Articles on Engaging an Internal Brand Team

BrainZooming

I am in New York today delivering a Brainzooming branding strategy workshop on Engaging Your Internal Brand Team. The event is the Brand Strategy Conference. Our content addresses collaborative ways to strategically engage employees in creating and delivering the best brand experience. We will introduce a new Brainzooming Fake Book soon that includes the exercises we will cover in the branding strategy workshop. Branding Strategy – Engaging an Internal Brand Team.

Is sustainability-centered marketing the way ahead?

Norbert Bol

A sustainability-centered marketing strategy is not leading to superior customer-brand relationships and fi rm performance. 2019) where they have compared three marketing strategies: Market-driven strategy with a focus on customers, employees and suppliers. Stakeholder-focused strategy that includes customers, employees and suppliers but also shareholders, communities, and regulators. . Strategic Management Business Co-Creation Marketing Sustainability

9 Strategic Thinking Questions – Helping Teams Execute Strategy

BrainZooming

Many organizations are in the early stages of executing new strategies for this year. That is when you discover whether you have a solid, implementable plan or something that (maybe) looks good on paper, but doesn’t work well when you try to execute the strategy. 9 Strategic Thinking Questions for Helping Teams Execute Strategy. Do you personally believe in the strategy? Were serious, strategic people involved in creating the strategy?

Content Marketing Strategy – 5 Things Your Content Can Deliver

BrainZooming

What a strong first day at the Brand Strategy Conference in New York. The kickoff presentation on the first day was from Kodi Foster, Vice President – Data Strategy at Viacom. Five Things Your Content Marketing Strategy Should Deliver. His five-points form a strong checklist with which to assess your content marketing strategy. D ownload Your Free Internal Branding Strategy eBook! There were lots of great ideas and very little free time!

How sustainable consumption relates to knowledge, seriousness and culture

Norbert Bol

Stimulating sustainable consumption, by policy makers or companies, can not be done adopting a single strategy. Depending on the level of knowledge and perceived seriousness and the culture of the consumer a specific strategy should be formulated. Strategic Management Consumption Economy Marketing Strategy SustainabilityAs we probably all know, we are currently consuming more than the planet can reproduce.

Green management performance

Norbert Bol

In the January 2017 issue of the Journal of Cleaner Production there is a study that has investigated the relationship between green management and the performance of Italian firms. The study shows that the relationship between green management and performance is U-shaped. The U-shaped performance makes clear that green initiatives can lead to a lower performance if there is not a comprehensive environmental management system.

Boosting creativity and innovation

Norbert Bol

Strategic Management Innovation Leadership StrategyBoosting creativity and innovation. When we want to boost creativity and innovation in an organization, there is not only a need for creative people but there is also the need for an organization supporting an innovative culture (see also the blog: Innovation is built on the desire for success ). A recent study towards the personal factors of creativity and innovation (da Costa et al.,

Return on investing in social sustainability

Norbert Bol

In the Strategy Blog “ Business sustainability and cost of equity ” it was shown that social sustainability has a more indirect effect to business performance. In the November edition of the Strategic Management Journal Fosfuri et al. Strategic Management Journal., Strategic Management CSR Finance SustainabilityNowadays, many companies engage in social causes that are aligned with the social concerns of their customers.

Sustainable innovation: innovation driving sustainability

Norbert Bol

Companies can use sustainability in their process innovation, product or service innovation, market innovation, brand innovation, company innovation and strategic innovation. Learning From Learning Theory A Model of Organizational Adoption Strategies at the Microfoundations of Institutional Theory. Journal of Management , 1446-1476. Strategic Management Innovation Strategy Sustainability

Innovation is built on the desire for success

Norbert Bol

Strategic Management Innovation Leadership StrategyTo create innovations it is probably true that our desire for success should be greater than our fear of failure. At the same time we should have the abilty not be afraid to fail but instead have the ability to learn from our mistakes. Many innovations are the fruitful result of trial and error. Error or failure are part of the process.

Individual compentences for sustainable entrepreneurship and innovation

Norbert Bol

Six sustainability competences can be identified: Strategic management competence and action competence : the ability to collectively design projects, implement interventions, transitions, and strategies for sustainable development practices and the ability to actively involve oneself in responsible actions for the improvement of the sustainability of social ecological systems. Strategic Management Business Collaboration Innovation Leaderschip Sustainability

Responsible and shared leadership

Norbert Bol

This means that you don’t have to be a manager to be a leader. Diverse teams are more successful and innovative than homogeneous teams, as diverse team are better at managing opportunities and threats to create more success in a sustainable way. Strategic Management Innovation Leadership Learning Strategy SustainabilityLeadership can be found at any level of an organization. To make this work it must be possible in an organization to lead one another.

The future of innovation

Norbert Bol

Although there were many topics discussed at the World Economic Forum that relate to the topics that are used in Strategy Blogs, I would like to share two interesting discussions about innovation, which are: Maintaining innovation and the Strategic Update: The Future of Innovation. Additional to what was discussed at the World Economic Forum is in my opinion that innovation and collaboration need to be balanced with management control systems and risk management.