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as we put many other aspects of life on pause to complete the project. For our
closest families, we have a few specific things to say.
From Dave: To Jen, Jack, and Matthew, thank you for your continual
support and infinite patience in evenings, weekends, and holidays in
the face of the seemingly endless promises of ‘I’ll just be a few more
minutes’—made it in the end!
From Mikko: I am forever indebted to and in awe of the most
important people in my life, my wife Erika and my children Max and
Eva. Your love, support, and unwavering belief in me kept me going
and endure to the end.
From Maureen: To Matthew, Tom, and Joe, your love, patience, and
support make everything possible!
And from Brad: I am ever thankful for the encouragement, sage
advice, well-placed sympathy and support of my wife and partner
Rebecca Sweetman, and for the laughter, love, wisdom, and
indulgence of my two boys, Conor and Aidan, who have taught me
that good strategy does indeed walk on two feet.
Brad, Mikko, Dave, and Maureen, July 2019
The authors and Oxford University Press would like to sincerely thank our
two contributors who worked tirelessly and determinedly in writing the
online resources for this text, providing excellent material for students and
instructors that will add insurmountable pedagogical value to the learning
experience of business strategy:
The authors and Oxford University Press would like to sincerely thank our
dedicated editorial consultants who provided exceptionally detailed feedback
to help provide specialist direction and insight throughout the development
process.
To the generous individuals who have contributed their time and expertise to
our Practitioner Insights, we thank you especially for working with us and for
your unique perspectives on strategy in practice. In order of appearance in the
book:
And finally, many thanks to our student panellists who also provided
insightful feedback on draft chapter material and our Process–Practice
Framework of Strategy.
PREFACE
Dear Reader
Thanks for picking up Strategy: Theory, Practice, Implementation! In the
crowded market for strategy textbooks, we appreciate that you have identified
with our aim of helping students to think, talk, and act like strategists.
Our approach to writing this book has emerged from our shared
experiences in teaching, consulting, researching, and leading strategy work in
different settings. In particular, we noticed a gap between the formal
theoretical approaches to strategy typically taught at undergraduate and
postgraduate levels and the practices and processes of strategy adopted by
organizational practitioners. It may be that those we were working with had
internalized previously studied theoretical frameworks, or that through
practice and experience they had developed an ability to think strategically
without making an explicit reference to theoretical constructs in their work.
Our feeling though was that there was a missing ‘middle ground’ in which
the realities of addressing strategic issues and opportunities could be
connected with the theories that can help frame, explain, and resolve strategy
challenges in an effective way.
Responding to strategic problems, issues, and opportunities always
involves decision-making. However, in practice, the assumptions of
rationality and decision-making conditions that we know from economics
often bear little resemblance to what takes place on the ground. Strategists
commonly have to operate in complex, dynamic environments, making
decisions with limited information under conditions of uncertainty and
ambiguity. In such situations the optimal way forward may not be knowable,
and decisions may be subject to managerial biases and political motivations.
Rather than rational derivation of clear plans, strategy becomes a continuing
process of negotiation, (re)action, interpretation, and learning. How this is
continually enacted by practitioners—over time, in context, using practices,
tools, and activities—is the focus of this book.
In adopting this view of strategy, we believe that this book has several
distinct features. Firstly, what people do and experience in strategy is a
recurring focus in each chapter, to set a platform for learning about how
strategy happens in a range of settings and situations. We believe that this is a
key aspect of developing knowledge, skills, and behaviours in strategy that
enhance student employability—graduate practical abilities are high on the
agenda for most potential employers! Further, there is a burgeoning body of
strategy process and practice theory with which we wanted to connect, share,
and exemplify.
To meet our aim of developing students’ abilities to think, talk, and act as
effective strategy practitioners we have shaped the latest strategy theory into
a ‘process–practice’ framework which draws all elements of the book
together. To bring the process–practice framework to life, we have covered
classic strategy topics that will allow you to deepen your knowledge of
scholarly thought and discuss and collaborate with students and practitioners
of strategy from around the world. Equally, we have embraced topics of high
relevance to contemporary strategy, such as the opportunities and threats
associated with trends in digital transformation and platform innovation,
sustainable development and growth, and internationalization and
globalization. We have included a diverse set of case examples from all
manner of industries and from all continents, and from public sector and
third-sector organizations alongside private firms large and small. For each
case, we have asked a range of questions to test and extend your thinking on
what people actually do in strategy, and how theory can be used to
interrogate practice.
A further distinctive feature of the book is the extent to which we have
placed the practitioner at the centre of the strategy-making and strategic
decision-making processes. In each chapter, in addition to theory and case
examples we include a ‘practitioner perspective’—an unvarnished view of
how strategy is implemented in practice from an experienced individual’s
unique history. There is a written summary in each chapter and an
accompanying video interview in the online resources. The practitioners have
a wide range of backgrounds and identities, and we have represented their
views exactly as they expressed them. Whilst we have tried to select
practitioners with an interest in the topic addressed in each chapter, they all
also offer general insights about their own theories-in-use of strategy
practice. This extensive engagement with practitioners is a unique feature of
this book. Emphasizing human action in strategic management draws widely
from the work of some of the greatest minds of management, economics,
psychology, managerial cognition, behavioural and evolutionary economics,
decision-making, and strategizing activities and practices literature. We are
excited about the potential of these practitioner resources to support learning
for students who have yet to gain strategy experience or those looking to
broaden their perspectives as to what really happens in strategy practice. For
colleagues designing strategy modules, we are equally looking forward to
learning about—and possibly collaborating on—innovative teaching and
pedagogical applications of these resources to meet the needs and interests of
the modern strategy student.
We have also developed what we believe are the most comprehensive
method guides available for the application of mainstream theories of strategy
and common strategy tools (and a few lesser known approaches too!). We
have engaged with methods or theories in such a way that you should be able
to interpret, explain, or do the work of strategy differently as an outcome of
reading each chapter. We had previously found ourselves drawing such
guides out for students at all levels during courses without a reference text to
support them. These guides should allow you to build confidence and
capabilities in the application of well-established views of strategy as a
platform to then engaging with more specialized and nuanced considerations
in the field. We have used all the method guides reported in the chapters in
consultancy practice, in teaching, and even in our own companies or business
activities. However, we have tried to write them in such a way that they are a
non-prescriptive starting point for undertaking strategy work. Our wish is that
students and teachers can creatively ‘make the tools their own’ according to
personal preference and the needs of the situations they face.
Indeed, throughout the book we have attempted to engage with strategy
as a ‘situated’ activity. For us, this means that how strategy is best
understood, approached, and enacted will depend on the history and
circumstances of those involved. Thus we have written about how strategy
‘might be’, rather than what strategy ‘is’, in order that the student can engage
in, or the tutor facilitate, learning about strategy that embodies their own
interests and experiences. To support this personal engagement with the
subject, we present a wide range of relevant theories and how they might be
useful in practice, case examples to provoke enquiry and reflection, and
practitioner perspectives as examples of how others grapple with the subject
matter. We start the book by offering multiple interpretations of what strategy
might mean, whilst resisting firm commitment to any particular definition,
and conclude by describing multiple ways in which you can continue your
own unique lifelong learning journey about strategy-in-practice through
reflection. For colleagues, whilst we lean towards pedagogies that help
students build deep process and practice understanding, we have endeavoured
to write in an open way which means that you can adopt chapter
combinations and interpretations of the text that fit the needs of your teaching
philosophy.
We hope you enjoy using the book, exploring the online resources, and of
course trying to apply the learning. Good luck in your journey to think, talk,
and act like a strategist!
The Author Team, July 2019
GUIDE TO THE BOOK
LEARNING OBJECTIVES
A list of clear outcomes, using key terms from the chapter, indicates
what you can expect to learn
You can use this list to navigate the chapter content, making your
learning experience focused and efficient.
TOOL BOX
CASE EXAMPLES
Shorter case vignettes within the chapter focus on key concepts and
also cover a vast range of organizations. The case examples allow you
to pause and consider how the illustration relates to the concepts
discussed, and through further questions for discussion, help check
your developing understanding of the topic or encourage you to discuss
and debate with classmates.
PRACTITIONER INSIGHTS
Based on first-hand interviews with exceptional strategy experts from
across the globe, practitioner insights provide you with unique insight
into how the strategic tools and concepts discussed within the chapter
are applied in the real world. These in-chapter interviews are
accompanied by online video interviews with each practitioner.
CHAPTER SUMMARY
Chapter summaries provide a brief outline of the important concepts to
take away, helping you to consolidate your learning before you move
on.
They also contextualize each subject area within the bigger picture of
the Process-Practice Model of Strategy.
FURTHER READING
Research Insights and more Further Reading references are provided online
to further broaden your academic reading.
GUIDE TO THE ONLINE
RESOURCES
For students
Enhanced eBook
An interactive version of the text includes selected online resources at your
fingertips to enhance the learning experience. Accessible via a unique access
code on the inside cover of the book, the enhanced eBook enables on-the-go
assessment, video viewing, and further reading and research, all in one place.
Practitioner Insights
Uniquely filmed for this text, practitioner insight videos award students with
an exciting glimpse into the world of professionals from a diverse range of
organizations. Sixteen outstanding strategists talk about their experiences
throughout their career in relation to the corresponding chapter topic. These
videos offer deeper insight into the tools they use in their day-to-day working
life and offer students the chance to examine the implementation of strategy
theory in the professional world. Practitioner insights also provide a chance
to appreciate how studying strategy will help support future careers,
following in the footsteps of experts.
Research Insights
Abstracts for key pieces of research to accompany each chapter serve to
broaden your perspective of the academic field, accompanied by author
insights into how each paper can support your study. The research insights
help support you to become the most well-rounded strategy graduates of the
future, ensuring that the practice of strategy is balanced with academic rigour.
Career Insights
A bespoke video of each practitioner offering employability guidance,
including skills you can develop throughout your course, and also outside
your course, in order to best prepare you for your career.
Student Assessment
Multiple-choice and multi-response questions enable you to check your
understanding as you progress through the chapters. Feedback sends you
back to the particular section of the chapter to pinpoint the gaps in your
knowledge quickly and easily, and allow you to revisit the topic according to
your needs.
Further Reading
Additional further reading recommendations ensure you are well-informed as
you refine your own strategic thinking beyond the text.
Flashcard Glossary
Key terms and phrases are provided in a flashcard glossary to quickly test
understanding.
For lecturers
Teaching Notes for In-Chapter Opening Cases and Case Examples
Teaching ideas for class work using the Opening Case Studies and Case
Examples in each chapter. Potential approaches to the Questions for
discussion that accompany each Opening Case and Case Example in the book
are also included.
Test Bank
Additional assessment is provided in the tutor test bank.
Boardroom Challenge, including Teaching Notes
CONTENTS
Ukko oli vihainen kun ei keitto ollut valmiina. Äitipuoli syytti Lyydiä,
jonka töitä hänen täytyi suoritella ja Briita syytti lasta, jonka riepuja
hänen oli täytynyt pestä. Lyydi punehtui sängyssään. Mutta ukko
yltyi ja kun Johannes avasi suunsa, löi hän nyrkkinsä pöytään ja
ärjäsi ettei aikonut elättää pojanvaimoa ja tämän kakaroita.
Johannekselle nousi veri kasvoihin. Hän vastasi ettei aikonut olla
isänsä renkinä ja otti vyönsä seinältä. Akat torailivat, Lyydi itki
sängyssään, keräsi riepuja lapsen ympäri ja yritti nousta:
Äitikulta, saanko olla täällä siksi kun kuolen? En minä kauvaa elä,
sai
Lyydi nyyhkytyksiltään sanotuksi.
I.
Anselm Löf, Skoglannin Löfejä, oli jo kolmas renki, josta oli tullut
isäntä. Anna-Mari, kaunis punakka ihminen, mutta suurisuinen kuin
turska, oli ollut Anselmin kanssa perunoita mullittamassa Ison-Aspön
puolella. Anselm oli tukeva pojanjurikka; oli ohjannut sahroja ja kun
oli päästy kymmenkunnan vakoa oli istuttu pientareelle ja Anselm oli
ruvennut vetämään Anna-Maria palmikosta syliinsä. Oli ollut
helteinen kaunis päivä, käki oli kukkunut siinä lähellä rantamännyssä
ja Anna-Maria oli niin suloisesti raukaissut. Sen mullituspäivän
jälkeen oli sitten talvella Eveliina, vanhin lapsista, syntynyt. Anna-
Mari oli silloin yhdeksäntoista.
Sitä myöten kuin neste pullosta joka peilaukselta aleni alkoi juttu
sentään luistaa. Puhuttiin kauan haudottuja asioita, selvitettiin
sotkuisia tilejä ja arvailtiin tulevan vuoden ilmoja ja kalansaaliita.
Tuntui siltä kuin yksi pahka toisensa jälkeen sulaisi ja häviäisi ja
naapureista tulisi ystävykset.
II.
Oli myrskynnyt markkinaviikon, kuten usein tapahtuu. Meri myllersi
pohjiaan myöten, läikkyi raskaana ja sameana heittäen rannoille
rakkoleviä ja ahvenruohoja korkeiksi valleiksi. Aspöläiset olivat
saaneet pysytellä maissa, sillä silakanpyyntiin ei ollut
yrittämistäkään.
Kun Löf oli päässyt kalliolle, josta oli näköala yli saaren, pysähtyi
hän ja viittasi pojat luokseen. Ulkorannat olivat täynnä lautaa ja
komeata lankkua.
Mutta nyt oli pidettävä kiirettä, sillä yksi ja toinen lauta oli tietysti
vienyt sisäsaarelaisille viestin tapahtumasta.
Parempi oli sittekin lähteä ennen poikien tuloa. Nämä olivat tietysti
tunteneet Vennströmin veneen ja tiesivät hänen käyneen
Skytteskärissä, mutta ehkäpä ilmenisi joku neuvo, kun tilinteko vain
hiukankin lykkäytyisi.
Kun oli päästy Aspön tyveneen oli jo hämärä. Pojat saivat purkaa
lastin, Vennström itse meni tupaan ja heittäytyi ovisänkyyn. Hän
vastasi lyhyesti vaimonsa kysymyksiin, ja oli nukkuvinaan, vaikka
tirkisteli seinänrakoon ja mietiskeli. Vihdoin hän vaipui raskaaseen
uneen.
Anna-Mari itki koko kotimatkan. Hän oli nyt varma siitä että
Anselm ja molemmat pojat olivat hukkuneet purjehtiessaan
Skytteskäristä kotiin. He olivat nähtävästi ottaneet liian suuren
lautalastin, joten vene ei jaksanut tarpeeksi kohoilla aallokossa,
selitti Vennström. Biinus oli hänen puhuessaan ja koko matkan
aikana kumman rauhaton. Hän vältteli katsomasta Eveliinaan, joka
vähän väliä pyhki silmiään esiliinan nurkkaan.
Iltapimeässä kuului hankojen kitinää ja ihmisääniä tyyneltä selältä.
Sieltä olivat tulossa Hamberg ja Kalle Krokström ja perässään he
hinasivat Löfin silakkavenettä. Veneen pohjalla oli heillä lakanan alla
ruumis. Anna-Mari ei saanut jalkojaan tottelemaan, hän jäi istumaan
kammarin sänkyyn. Hän tiesi jo kaikki. Hän ei voinut nähdä
poikaansa Eerikkiä kuolleena, vaan käski viedä ruumiin ranta-
aittaan. Vennströmska toimitti kuolleen pesemisen ja pukemisen.
III.
Kuolinpesänhuutokaupassa Anselm Löfin jälkeen oli vähän väkeä.
Sataa tihuutteli koko päivän. Hamberg oli vasaramiehenä kuten
tavallista semmoisissa tilaisuuksissa. Silakkaverkot menivät halvasta
ja enimmät niistä joutuivat Vennströmille. Kun tuli veneen vuoro,
vallitsi tuvassa hiljaisuus. Löfin suurvene oli jo vanha ja vettynyt;
sitäpaitsi oli se upottanut kolme henkeä, minkä seikan katsottiin
pilanneen sen iäksi. Vennström, joka tahtoi esiintyä ikäänkuin Löf-
vainajan puolenpitäjänä, rykäisi paikallaan ikkunan alla ja tarjosi
huudon pohjaksi neljä markkaa. Vene oli hyvä, se oli vanhan Mastin
tekoa. Kun kukaan ei hänen jälkeen avannut suutaan, paukahti
vasara ja vene oli Vennströmin.
16.