|Your strategy needs a strategy 2017|
April 27-28, 2017
YOUR STRATEGY NEEDS A STRATEGY
By Knut Haanaes
Executives are bombarded with bestselling ideas and best practices for achieving competitive advantage, but it is often unclear which framework or approach is most useful. Should you aim to be big or fast? Should you employ a blue ocean strategy, be adaptive, play to win—or forget about a sustainable competitive advantage altogether? In a business environment that is changing faster and becoming more uncertain and complex, it has never been more important—or more difficult—to choose the right approach to strategy. So how can business leaders make sense of it all? Of the many approaches that can be effective under various scenarios, how can you know which one to apply to which part of your business and at what time? In our new book "Your Strategy needs a Strategy" published by Harvard Business Review Press, Knut Haanaes of IMD and The Boston Consulting Group’s Martin Reeves and Janmejaya Sinha offer a proven method to determine the strategy approach that is best for your business.
During this Discovery Event, we will present many of the insights and examples from the book in a participative way. Far from an exercise in theory, the emphasis is on self-awareness and practical application. We will provide a way for you to assess your approach to strategy making, and provide numerous examples from research and from casework. Knut and Martin will start by helping you assess your business environment—how unpredictable it is, how much power you have to change it, and how harsh it is—critical components in getting the strategy right. They will show how existing strategy approaches fall into five categories—Be Big, Be Fast, Be First, Be the Orchestrator, or Be Viable—depending on the degree of predictability, malleability, and harshness. In-depth explanations of each of these approaches will provide critical insight to help you match your approach to strategy to your environment, determine when and how to execute each one, and avoid a potentially fatal mismatch. We will also visit key strategic issues, such as how to balance exploration and exploitation and how to avoid success traps.
· How strategy development and execution is best done in complex and fast changing real world settings
· The three most important questions to address in developing and executing strategy
· How to improve chances of success by managing environments and gaining strategic expertise
· Executives with strategic responsibilities, as well as Board members