AMS EMBA 2023 - Slides Strategy Meyer - Day 1 PDF

EMBA 2023
Strategic Management
Day 1:
Strategy Content
Ron Meyer
Professor of Strategic Leadership
Antwerp Management School
Strategic Thinking
Toto Case
EMBA Strategic Management © Center for Strategy & Leadership

Commoditization Slide
Evolution of Competition
Virtual Disruptive Innovation

Monopoly
High
Level of
Differentiation
Sustaining Innovation
Low
Perfect
Competition
Time
EMBA Strategic Management (Meyer, 2007) © Center for Strategy & Leadership
Business Strategy
The Strategic Alignment Model
Market System Business System Organizational System
Market Positioning Business Model Organizational Model

Where To Play? How To Play? Who Should Play?
Business Organizational
Alignment Alignment
Competitive Value Creation Competitive Capability Creation
Cost/Revenue Model Viability Engagement Viability
Business Strategy

Outside-In Approach
Business Strategy

Inside-Out Approach
Market System
Understanding External Dynamics
Social Actors Economic Actors

(e.g. community groups, media,
Suppliers (e.g. tax authority, central banks,
opinion leaders) (Resource Partners) stock markets, unions)
Up-
New Entrants stream Contractors
(Potential Competitors) Relations (Activity Partners)
Industry Rivals
(Direct Competitors)
Down-
Substitutes stream Complementors
(Indirect Competitors) Relations (Proposition Partners)
Political Actors Buyers Technology Actors

(e.g. governments, lobbyists, (Proposition Clients) (e.g. patent office, universities,
parties, regulators) research institutes)
Market System Map (including key questions)
Social Actors Suppliers Economic Actors
• Who are the key social actors? • What are the main supplier categories? • Who are the key economic actors?
• What is their agenda? • Who are the key suppliers per category? • What is their agenda?
• Who do they influence in the market? • How much negotiation power do they have? • Who do they influence in the market?
• How much influence do they have? • How cooperative/competitive are they • How much influence do they have?
• What is the source of their influence? towards their clients? • What is the source of their influence?
• Is there a threat of forward integration?
New Entrants Contractors

• Who might consider entering the market from • Which activities can be outsourced?
another industry? • To whom can activities be outsourced?
• Who might enter from another country? Industry Rivals • How much negotiation power do contractors
• Which unique capabilities would they bring • Who are the main competitors? have?
along? • How much market share does each have? • How cooperative/competitive are they
• How attractive would the entry be for them? • What is the unique selling proposition of towards their clients?
• What are the barriers to entry? each? • Is there a threat of forward integration?
• How different are the competitors?
Substitutes • How intense is the industry rivalry? Complementors
• What do buyers see as alternatives? • Which categories of complementors exist?
• Who are the sellers of these substitutes? • Who are the key companies per category?
• What is the unique selling proposition of • In what way does each add value to the
each? proposition?
• How likely are buyers to switch? • How much negotiation power does each
• How much negotiation power do substitutes Buyers have?
have? • Is there a threat of backward integration?
• How large is the market and what is the
growth?
Political Actors • Which market segments are there? Technology Actors
• Who are the key political actors? • How do buyers decide what to purchase? • Who are the key technology actors?
• What is their agenda? • How price sensitive are buyers? • What is their agenda?
• Who do they influence in the market? • How much negotiation power do buyers • Who do they influence in the market?
• How much influence do they have? have? • How much influence do they have?
• What is the source of their influence? • What is the source of their influence?
© Center for Strategy & Leadership

Market System Map
Industry Rivals
Substitutes Complementors
Buyers
Political Actors Technology Actors

Business Level Strategy
Social Suppliers Economic
Business Model Organizational Model

Industry Rivals
How To Play? Who Should Play?
Political Buyers Technology
Alignment Alignment
Business System
Understanding the Underlying Business Model
(Business Model Distinctiveness)

Competitive Advantage
Cost & Revenue Model

(Business Model Viability)
Market System
Business System
Mapping the Value Proposition
©Ron Meyer 2022

Business System
Mapping the Activity System
Control Activities
Corporate Corporate
Governance Communications
Legal &
Support Activities
Compliance
Organization
People Development
Facilities Primary Activities
Safety,
Health &
Environment
Operations Customer Marketing Business
Planning
Finance
Information
Sales
Quality Performance
Management
Procurement Technology Management
Business Process Risk

Improvement Management
Acquisition
Management
Business System
Mapping the Resource Base
Tangible Resources
Money
Shares
Intangible Resources
Relational Resources
Contracts Brands
Relationships Reputation
Stocks Buildings
Competencies
Intellectual
Knowledge Attitude Software
Property
Capabilities
Materials Machines
Land
Business System Map (including key questions)
Relational Resources Competencies Tangible Resources
• Which key relational resources are available? • Which key competencies are available? • Which key tangible resources are available?
• How distinctive are they? • How distinctive are they? • How distinctive are they?
• How do they support the activity system? • How do they support the activity system? • How do they support the activity system?
Support Activities Marketing/Sales Activities Operational Activities Control Activities

• Which support activities are • Which marketing activities are • Which creation/production • Which control activities are
carried out? carried out? activities are carried out? carried out?
• How distinctive are they? • How distinctive are they? • How distinctive are they? • How distinctive are they?
• How are they aligned with the • Which sales activities are • Which logistics/distribution • How are they aligned with the
other activities? carried out? activities are carried out? other activities?
• How distinctive are they? • How distinctive are they?
• How are marketing & sales • How are operations aligned with
aligned with the other activities? the other activities?
Envelop Attributes Core Attributes Revenue Model

• What are the distinctive envelop attributes? • What is the core product/service? • Who pays for the value proposition?
• To whom are these attributes of value? • What are the distinctive attributes? • What is paid (money or something else)?
• How important are these attributes to buyers? • To whom are these attributes of value? • For what is paid (ownership or use)?
• How easily are these attributes copied? • How important are these attributes to buyers? • How is the price determined?
• How easily are these attributes copied? • When is paid (direct or later)?

Business System Map
Relational Resources Competencies Tangible Resources
Support Activities Marketing/Sales Activities Operational Activities Control Activities
Envelop Attributes Core Attributes Revenue Model

Organizational Model
Industry Rivals
Who Should Play?
Alignment Alignment
Organizational System
More than Just Structure Follows Strategy
Formal
Organization
(Organizational
Design)
Organizational
Culture
Informal Organizational
Organization Members
(Emergent
(People)
Qualities)
Mapping the Underlying Elements
Formal
Organization
Structure Processes
Controls
Informal Organizational Organizational

Organization Culture Members
Networks Community Engagement Individuals
Leadership Population
Tangible & Intangible Aspects of Organizational Culture
Values Formal Stories

Principles about what is Organization Histories, anecdotes,
important myths, proverbs & jokes
Beliefs Structure Processes Customs

Convictions about Conventions, ceremonies
what is true rituals & celebrations
Stories
Norms Controls Symbols
Unwritten rules about Arts, emblems, heroes,
how to behave signs & music
Beliefs Values
Norms
Customs Symbols
Networks Community Engagement Individuals
Leadership Population
Organizational System Map (including key questions)
Structure Networks Individuals
• What are the primary units of the • Who is connected to whom? • Which people are organizational members?
organization? • Who shares information with whom? • Which competences do they have?
• How has each unit been divided into task • Which coalitions exist on which topics? • Which relational resources do they have?
areas? • Where do people cooperate with each other? • What is their personality & mindset?
• Which positions/jobs have been created in • Who is involved in which decision-making? • Which experiences do they carry with them?
each area?
• Who reports to whom?
• Who coordinates with whom?
Community
• Which groups of people have a shared sense
of identity and common goals?
Processes • Are these groups local or company-wide? Population
• How have value streams been organized • Are these groups exclusive or inclusive? • How many people are members of the
across units? • To what extent are they willing to share and organization?
• Which communication processes have been support each other? • How diverse are they demographically (e.g.
established? age, gender, education, culture)?
• How have information sharing processes • How diverse are they experientially (e.g.
been organized? Leadership work, travel, function, events)?
• How have innovation and learning processes • How complementary are they in terms of
been organized? • Which people are listened to and followed? skills, styles and views?
• Which temporary teams have been created? • Do these leaders also have formal positions • How balanced is the talent pipeline (enough
or only informal power? people for next jobs)?
• What type of leadership styles do they use?
• In which situations do they intervene more
Control Systems actively? Engagement
• How has corporate decision-making been • How motivated are people to realize the
organized? organization’s goals?
• How has the business planning and review Culture • To what extent do people feel responsible for
system been organized? • Which fundamental beliefs and values do the success of their team?
• How has the budgeting and reporting system people share? • How committed are people to the
been organized? • Which unwritten behavioral norms are held? organization?
• How has the performance management • Which taboos exist? • How diverse is the level of engagement
system been organized? • Which sub-cultures exist within the broader across the organization?
• What is the corporate governance system? culture?

Organizational System Map
Structure Networks Individuals
Community
Processes Population
Leadership
Control Systems Engagement
Culture

Strategic Alignment Model

Formal
New Organization
Contractors
Entrants
Industry
Rivals Culture
Comple-
Substitutes
mentors
Outside-In Approach
Inside-Out Approach
Markets & Resources Evaluation Matrix
Market Attractiveness:
High
• Growth potential
Market Attractiveness
• Competitive intensity
• Buyer & supplier power
• Entry & exit barriers
Medium
• Etc.
Fit with Resources:

• Key physical resources
Low
• Distinctive competences
• Relational resources
Low Medium High
Fit with Resource Base

The Paradox of Markets and Resources
Market Resource
Adaptation Leveraging
Aligning the firm to Making optimal use
the opportunities and of the tangible and
threats in the business intangible resources
environment available to the firm
Outside-In Inside-Out
Perspective Perspective
The Paradox of Markets & Resources
5
Inside-Out Perspective
11
14 113
10 1
13 12
4 22 5
15 7 4
9 8 9 14 8
6 10
1 7
6
Resources 3 3 5
12
13
Outside-In Perspective
1
1 2 Markets 4 5
Strategist Profiler
AMS – EMBA 2022-24
1 = Brad Sellers 9 = Eline van Mieghem

2 = Julie Decaux 10 = Timmy Melotte
3 = Natalia Arakelova 11 = Steven Heyvaert
4 = Ankelien Vanbockstaele
12 = Sriram Nair
5 = Gabrielle Jaruseviciene 13 = Kevin van Kerckhoven
6 = Koen Vervliet 14 = Jan van Bael
7 = Mohamed Bouharat 15 = Geoffrey Baudts
8 = Joris van Briel
Strategist Profiler
5
113
10 1 12
4 2
15 7
9 14 8
6
Resources 3 5
13
1
1 2 Markets 4 5
Strategist Profiler © Center for Strategy & Leadership
Strategist Profiler
AMS – EMBA 2022-24
1 = Gill Gonnissen 8 = Kris de Bruyne

2 = Julie Hermans 9 = Ayob Armieyah
3 = Lieven van Hileghem 10 = Koen de Pryck
4 = Romeo Cadaoas 11 = Miet Vangertruyden
5 = Edwin van Os 12 = Nick Nagels
6 = Alexander Sterkens 13 = Serkan Alhan
7 = Boban Bekkers 14 = Christa Baens
Strategist Profiler
5
11
14 13
4 2 5
8 4 9
6 10
1 7
Resources 3 3
12
1
1 2 Markets 4 5
The Innovation Box
Levels of Innovativeness
New to the World

Invention
Coming up with something
original, not found
3rd Order Adept at Innovation
anywhere else
New to the Industry

Translating concepts from 2nd Order Inspiration
other industries to own
Other
Adapt the Innovation
industry
INDUSTRY
New to the Company

Imitation
Copying others in the
Current 1st Order
industry locally or in Adopt the Innovation
other countries
Current Other
GEOGRAPHY
Industry Context
The Paradox of Compliance and Choice
Firm Strategic
Compliance Choice
Adapting to the developments Proactively challenging and
and the rules of the breaking the rules of the
competitive game in an competitive game in an
industry to attain alignment industry to attain advantage
Industry Dynamics Industry Leadership

Industry Context
The Paradox of Compliance & Choice
5
Industry Leadership Perspective
4
8 6
13 14
9
13 5
13 11 2
53
12
Choice 3 12 11
41 76 7
10 1510
9 2 4
2 14 8
Industry Dynamics Perspective
1
1 2 Compliance 4 5
Industry Context
5
4
6
14
13
2
5312
Choice 3 11
1 7
10 15
9 4
2 8
1
1 2 Compliance 4 5
Industry Context
5
4
8
13 9 5
13 11
Choice 3 12
4 6 7
10
2
2 14
1
1 2 Compliance 4 5
Organizational Vision
Guiding the Organization’s Direction
Business
Model
How do we create value
competitively?
Organizational
Ambition
What level of performance
do we pursue?
Market Organizational
Position Model
Where do we want How do we create
to compete? an effective team?
Organizational Mission
Core of the Organization’s Identity
Definition Values
What is the core of What is of fundamental
what we do? importance to us?
Organizational
Purpose
Why does the organization
exist?
Organizational
Beliefs
What are our core
convictions?
The Strategic Alignment Framework
Business
Model
Organizational
Organizational
Ambition
Vision
Market Organizational
Position Model

Formal
Entrants Contractors Organization
Rivals
Culture
Substitutes Complement
Definition Values
Organizational
Purpose Organizational
Mission
Organizational
Beliefs
Lunch
Back at 13.30

Corporate Level Strategy
The Boon Edam Case
• Why would Boon Edam consider getting into the access barrier business?
• Why would Boon Edam consider getting out of the door maintenance business?

Creating Corporate Value
Gaining Value from Diversification
Synergy Value
Impact on Responsiveness
(Leveraging resources, integrating activities, aligning positions)
Management Value
(Improving organizational effectiveness)
Reputational Value
(Gaining external confidence & trust)
Portfolio Value
(Optimizing capital allocation)
Time To Start Realizing Value Creation
Creating Corporate Value
The Role of the Corporate Family
Portfolio value, reputational

value, governance value, Net
synergy value Value
Destruction
Net
€$£¥
€$£¥
Value Additional
Corporate Direct costs and
Creation
Gross Gross Costs reduced
Corporate Corporate business
Value Value responsiveness
Creation Additional Direct costs and Creation
Corporate reduced
business Portfolio value, reputational value,
Costs
responsiveness governance value, synergy value
Positive Corporate Value Negative Corporate Value
The Boon Edam Case
Corporate
Center
Door Specialty Revolving Entrance Access

Servicing Door Door Security Security
Market Market Market Market Market

The Paradox of Responsiveness and Synergy
Corporate
Center
Organizational System Organizational System Organizational System
Formal Formal Formal

Organization Organization Organization
Culture Culture Culture
Informal Organizational Informal Organizational Informal Organizational

Organization Members Organization Members Organization Members
Business System
Synergy
Business System Business System
Responsiveness
Responsiveness
Responsiveness
Market System Market System Market System
Social Suppliers Economic Social Suppliers Economic Social Suppliers Economic
Entrants Contractors Entrants Contractors Entrants Contractors
Rivals Rivals Rivals
Substitutes Complement Substitutes Complement Substitutes Complement
Political Buyers Technology Political Buyers Technology Political Buyers Technology
Opposite Approaches: Portfolio Organization Model
Corporate
Center
Financial Control
Formal Formal Formal

Organization Organization Organization

Synergy
Business System Business System Business System
Responsiveness
Responsiveness
Responsiveness
Opposite Approaches: Integrated Organization Model
Corporate
Center
Strategic Direction
Formal
Organization
Cooperation Formal
Organization
Cooperation Formal
Organization

Business System Synergy

Business System Business System
Responsiveness
Responsiveness
Responsiveness
The Paradox of Responsiveness & Synergy
5
Integrated Organization
1
Perspective
6
11
31
11 4 5 5 14
4 9
9 10
4 14
8 2 713 3
12
13
Synergy 3 2 12 15 8
610
Portfolio Organization Perspective
1
1 2 Responsiveness 4 5
5
Integrated Organization
1
Perspective
6
11
3
5 14
4 9
10
4
2 13 12
Synergy 3 15 8
1
5
Integrated Organization Perspective
1
11 4 5
4
9
14
8 7 3
13
Synergy 3 2 12
610
1
International Strategy
The Paradox of Globalization and Localization
Global Local
Synergy Responsiveness
The additional value created The ability to respond to
by working in two or more the competitive demands of
geographic areas, over a specific geographic area
and above the sum of in a timely and adequate
the country parts manner
Global Convergence International Diversity

International Context
The Paradox of Globalization & Localization
5 6
International Diversity Perspective
8
1
9
4 14 7 5 12
3 811
14
1 75 10
6 13 3
4 12
15
Localization 3 13
10
29 11 4
2
Global Convergence Perspective
1
1 2 Globalization 4 5
5 6
8
1
9
4 7 5 12
11
14 10
13 3
4 15
Localization 3
2
1
5
4 14
3 8
1 75
6
12
Localization 3 13
10
29 11 4
1
Network Level Strategy
Interorganizational Collaboration Objectives
Learning: Lending: Linking:

Exchanging Leasing or Vertical
FIRM A Knowledge Licensing Integration FIRM B
Leveraging
Resources
Integrating
Activities
Aligning
Positions
Markets Lumping: Leaning: Lobbying: Markets

Economies Joint Joint
of Scale Bargaining Influencing

The Paradox of Competition and Cooperation
Arm’s Length
Relations
Operational
Firm A Partnership
Tactical
Firm A Partnership
Strategic
Firm A Partnership
Full
Integration
Firm A
Firm A
Firm B Firm B Firm B Firm B Firm B
Competitive Cooperative Control
Partnering Approaches
Distinguishing Relationship Types
Arm’s Operational Tactical Strategic Full

Length Partnership Partnership Partnership Integration
Loose Open Preferred Tight Fixed

Nature relationship; relationship; relationship; relationship; relationship;
non-exclusive non-exclusive part-exclusive exclusive exclusive
Occasional; Regular; stable; Steady; confident; Constant; trusting; Constant;

Contact transactional; limited partially dependent dependent;
independent dependence dependent controlled
Deal whenever Provide reliability Provide support Achieve virtually Secure integrated
Objective useful and low and realize joint integrated approach
transaction costs investments approach
None Abide by rules; Help each other Joint interest Only one interest
Commitments solve issues first where prevails over
professionally possible individual
Not to be trusted Eye for common Goodwill; active Joint venture; On the same
Expectations good; no negative assistance; perseverance; fight team; hierarchy
moves reciprocity for each other can intervene
Short-term; deal Medium term; but Medium-long term; Long-term Long-term

Orientation by deal keep options open inclined to commit commitment to commitment
to favored partner partner enforced
Inter-organization Inter-organization
Competition Cooperation
Building power and retaining Building bridges and commitment
manoeuvrability in the pursuit of towards others in the pursuit of
company objectives that are at joint objectives in a mutually
odds with the interests of others beneficial way
Discrete Organization Embedded Organization

Approach Approach
Opposite Approaches: Discrete Organization Perspective

(e.g. consumption habits, population (e.g. economic cycle, exchange
(e.g. innovative products
build-up, ecological footprint) rates, labor productivity)
consolidation, cost level)

(e.g. new business model Competition (e.g. scale economies,
foreign entry, diversification) specialization, risk profile)
Industry Rivals
Competition (e.g.Competition
new propositions, Competition
capabilities, market share)
(e.g. new propositions Competition (e.g. new channels
lower cost, easier switching) business models, relations)

(e.g. trade relations, government (e.g. price sensitivity, (e.g. scientific breakthroughs,
policy, regulatory change) need change, brand loyalty) innovations, new standards)
Opposite Approaches: Embedded Organization Perspective

(e.g. consumption habits, population (e.g. economic cycle, exchange
(e.g. innovative products
build-up, ecological footprint) rates, labor productivity)
consolidation, cost level)
Cooperation
(e.g. new business model (e.g. scale economies,
foreign entry, diversification) specialization, risk profile)
Cooperation The Firm Cooperation
Cooperation
(e.g. new propositions (e.g. new channels
lower cost, easier switching) business models, relations)

(e.g. trade relations, government (e.g. price sensitivity, (e.g. scientific breakthroughs,
policy, regulatory change) need change, brand loyalty) innovations, new standards)
5
Embedded
2 3 6Organization
11 Perspective
8 2
411 10
13 13 9 1
4 7
9 12 10
1 15
14 6 55
4 14 3 12
Cooperation 3 7 8
Discrete Organization Perspective
1
1 2 Competition 4 5
The Paradox of Competition & Cooperation
5
Embedded6Organization
11 Perspective
8 2
10
13 9 1
4
15 5
4 14 3 12
Cooperation 3 7
1
1 2 Competition 4 5
The Paradox of Competition & Cooperation
5
Embedded
2 3
Organization Perspective
411
13
4 7
9 12 10
1
14 6 5
Cooperation 3 8
1
1 2 Competition 4 5
Strategy Tensions
Four Approaches
Engineering Political
Approach Tension as Tension as Approach
Puzzle Dilemma
Pressure for B
Pressure for B
(One optimal (Two ‘either-or’
solution point) solution points)
“Make a
“Find the best”
Choice”
Pressure for A Pressure for A

Economic
Synthesis
Approach Tension as Tension as
“Strike a Approach
Pressure for B
Pressure for B
Trade-off Paradox
Balance”
(One optimal (Multiple innovative
solution line) reconciliations)
“Get best
of both
worlds”
Pressure for A Pressure for A

Strategy Synthesis
Using Dialectical Inquiry
Tension is Outcome Process
Synthesis
Paradox Dialogue
Qualities Qualities
of Thesis of Antithesis
Perspective B
Perspective A
Trade-off Compromise Defuse
Pitfalls Pitfalls
of Thesis of Antithesis
Dilemma Debate
Conflict
Strategy Dialogue
Ten Opposite Strategy Perspectives
Strategic Thinking
Rational Reasoning Generative Reasoning
Strategy Formation
Strategic Planning Strategic Incrementalism
Strategic Change
Discontinuous Renewal Continuous Renewal
Outside-in Inside-out
Portfolio Organization Integrated Organization
Discrete Organization Embedded Organization
Industry Context
Industry Dynamics Industry Leadership
Organizational Context
Organizational Leadership Organizational Dynamics
Global Convergence International Diversity
Organizational Mission
Shareholder Value Stakeholder Values

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EMBA 2023

EMBA Strategic Management © Center for Strategy & Leadership

Virtual Disruptive Innovation

Market System Business System Organizational System

Market Positioning Business Model Organizational Model

Competitive Value Creation Competitive Capability Creation

Cost/Revenue Model Viability Engagement Viability

Market System Business System Organizational System

Market Positioning Business Model Organizational Model

Market System Business System Organizational System

Market Positioning Business Model Organizational Model

Social Actors Economic Actors

Political Actors Buyers Technology Actors

New Entrants Contractors

© Center for Strategy & Leadership

New Entrants Contractors

Political Actors Technology Actors

© Center for Strategy & Leadership

Market System Business System Organizational System

Social Suppliers Economic

New Entrants Contractors

Business Model Organizational Model

Political Buyers Technology

Competitive Value Creation Competitive Capability Creation

Cost/Revenue Model Viability Engagement Viability

(Business Model Distinctiveness)

Cost & Revenue Model

©Ron Meyer 2022

EMBA Strategic Management © Center for Strategy & Leadership

Business Process Risk

Support Activities Marketing/Sales Activities Operational Activities Control Activities

Envelop Attributes Core Attributes Revenue Model

© Center for Strategy & Leadership

Support Activities Marketing/Sales Activities Operational Activities Control Activities

Envelop Attributes Core Attributes Revenue Model

© Center for Strategy & Leadership

Market System Business System Organizational System

Social Suppliers Economic

New Entrants Contractors

Political Buyers Technology

Competitive Value Creation Competitive Capability Creation

Cost/Revenue Model Viability Engagement Viability

Informal Organizational Organizational

Networks Community Engagement Individuals

Values Formal Stories

Beliefs Structure Processes Customs

© Center for Strategy & Leadership

Control Systems Engagement

© Center for Strategy & Leadership

Market System Business System Organizational System

Social Suppliers Economic

Fit with Resources:

Low Medium High

Fit with Resource Base

EMBA Strategic Management © Center for Strategy & Leadership

1 = Brad Sellers 9 = Eline van Mieghem

1 = Gill Gonnissen 8 = Kris de Bruyne

New to the World

New to the Industry

New to the Company

Industry Dynamics Industry Leadership

Industry Dynamics Perspective

Industry Dynamics Perspective