Tag: Value Chain

Books

PSGS 016: Book Review: Translating Strategy Into Action

Posted on

Premise:

The premise of "Translating Strategy Into Action" is that understanding one's organizations strategic objectives and cascading those objectives throughout the organization into departmental and individual action plans can be a challenging task as the demand for limited resources continues to increase. Translating strategy must be communicated up and down the organization from the board room to the mail room as well as across the value chain to partners and suppliers. Contained in this book are practical tools and techniques for the translation and execution of an organization's strategic objectives into actions that produce measurable results. Topics covered in the book focus on the principles of:

  1. Be a student.
  2. Create meaning.
  3. Be honest.
  4. Think capabilities.
  5. Get comfortable with change.
Books

PofE 036: Book Review – Understanding Michael Porter – Joan Magretta

Posted on

Understanding Michael Porter

Premise:

  • The premise of the book, "Understanding Michael Porter" is that clear strategic thinking is essential for managers at all levels of an organization. This essential guide provides the foundation for understanding the basic principles of competition and strategy and establishes a framework in which Michael Porter's writings are easier to digest than his original texts. A direct quote from the book states that, "Strategy is not fast food." The essence of strategy is not only choosing what to do, but also choosing what not to do.

What I learned:

  • The key to competitive strategy rests on an organization's ability to create unique value and to be uniquely focused on creating value that customers understand within the structure of their industry and your company’s relative position.
  • Good strategy helps explain how an organization in the face of competition will accomplish superior performance and greater profits.