Summary
This selection of papers from "Long Range Planning - The International Journal of Strategic Management" examines the evolution of competitive advantage over the past decade, setting out areas of major change and areas which have been less subject to change. It begins by examining how strategic management has been influenced by the transformation of industries and the changes in the rules for success, and the dramatic rise in the strategic importance of information technology. In many industries, the established rules of the game no longer apply, and their continued use will most likely lead to failure, even for firms which appear to have unassailable positions of strength. It is not that strategic planning has failed, but rather that in a previous era of greater certainty and clearer boundaries, the unquestioning application of established strategic rules often worked. In the new era of competitive uncertainty and uncertain boundaries, many of the rules of strategy still apply, but they can only have utility when applied in an appropriate context. The book concludes that when clarity exists about business definition, industry definition and competitor definition and how strategic techniques or measures should be applied, then the strategic fundamentals which have obtained for many years are likely to continue to do so.
Table of contents
- Introduction (P. McNamee). Part I: What Has Changed? The Dramatic Rise in the Strategic Importance of Information Technology. Outsourcing IT: the strategic implications (L. Willcocks et al.). Innovation in banking: new structures and systems (R.E. Morgan et al.). The Transformation of Industries and the Changes in 'The Rules for Success'. Becoming a customer 'owning' company (S. Vandermerwe). Strategic change and organizational change at Hay Management Consultants (L. Heracleous, B. Langham). Operation Centurion: managing transformation at Philips (N. Freedman). The Rise in the Strategic and Industrial Importance of South East Asia. Corporate strategies for the Asia Pacific Region (P. Lasserre). Whose company is it? The concept of the corporation in Japan and the West (Masuru Yoshimori). Partnership with an Asian family business--what every MNC should know (P.N. Pant, V.G. Rajadhyaksha). Join Up or Split Up? Strategic alliances in fast moving markets (V. Newman, K. Chaharbaghi). The ICI demerger: unlocking shareholder value (C. Kennedy). Part II: What Has Not Changed? Developing Missions, Benchmarking Strategic Performance, Managing Mature Businesses and the Benefits of Adroit Strategic Planning. Creating a sense of mission (A. Campbell, S. Yeung). Strategic benchmarking at ICI Fibres (T. Clayton, B. Luchs). Parenting strategies for the mature business (M. Goold). Linking the balanced scorecard to strategy (A. Butler et al.). The return of strategic planning: once more with feeling (B. Taylor). Index.
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