create user-friendly designs to enter new businesses (e.g.

, music
devices and delivery such as iPod and iTunes and mobile phones
such as iPhone, and new segments of content consumption such
as iPad). Each of these monumental new business successes
was driven by an understanding of what the customer implicitly
wanted and then putting in place a process of innovation and
relentless dedication to design that led to customer craving of
these products. Apple’s new innovative iWatch appears to be
another example of dedication to distinctive design that
anticipates customers’ needs. Time will tell if Apple can maintain
its capability to delight its customers with its innovative products.
As Apple’s value hovers around $1 trillion today, it seems clear
that its capacity to innovate and products that customers demand
have continued.

Mission (Purpose), Major Objectives, and

Strategic Intent6
The mission, also sometimes called the purpose, is the answer to the
question “What is our business?” The major objectives are the end
points toward which the activities of the enterprise are directed.
(These topics were discussed in the previous chapter.)

Mission A statement that answers the question “What is our

business?”

Strategic intent is the commitment to win in the competitive

environment. Professors Gary Hamel and C. K. Prahalad analyzed
companies that had achieved global leadership.7 They found that
these firms had an obsession with winning not only at the top level,
but also throughout the organization. This obsession is called
strategic intent and is illustrated by Komatsu’s intent to “encircle
Caterpillar,” its main rival, or Canon’s idea to “beat Xerox,” or Honda’s
intent to become an automotive pioneer, “a second Ford.” The
authors point out that strategic intent requires personal effort and
commitment. The intent statement is stable over time and focuses on
the essence of winning.

Strategic intent The commitment to win in the competitive

environment.

www.caterpillar.com
www.xerox.com
www.honda.com
www.ford.com

Entrepreneurial Perspective

Interview with Jon B. Fisher, Cofounder of

Bharosa, an Oracle Corporation company8
Jon Fisher is a serial Silicon Valley entrepreneur, founding several
technology firms, the most recent being Bharosa. Bharosa is an
enterprise security software firm that was purchased by Oracle
Corporation in 2007. Mr. Fisher’s take on entrepreneurism is
centered on what he calls “strategic entrepreneurism.” He defines
strategic entrepreneurism as creating and growing a company
with the aim of having it acquired by a dominant firm in the
industry. In our communication, he elaborated, “Identify the
companies that you believe would most benefit from acquiring
your company. Of course, you can never control what another
company does, but by understanding which company may
acquire you and what their own needs may be, you can steer your
company in their direction as an acquisition target. Then, when
your company gets acquired by this larger corporation, everyone
will remark on how lucky you are, not knowing that this was your
goal from the beginning.” Fisher’s strategic entrepreneurism is his
trademark approach to the strategic planning process of industry
analysis, building an enterprise profile to suit the industry the firm
is operating in, analyzing strategic alternatives, and making a