Synopsis
Dismissing the plethora of meaningless buzz words, simplistic checklists, and impractical business models common to management theory, this handbook advocates down-to-earth techniques for creating and implementing realistic business strategies. Presenting an array of methods that have stood the test of time in real-world business and academic environments, the content focuses on the strategic process as the backbone for the planning and implementation of strategic initiatives. Serving to remind readers that questions such as What do I do? When do I do it? and What goals should I be trying to achieve? should be posed at each stage of the strategic process, chapters begin with a brief introduction summarizing the tasks associated with specific stages, such as market analysis and development of a long-term vision, and the anticipated results. Would-be strategists are also advised on the axioms of patience, realism, and perseverance as they pertain to business management: patience—business strategies take time to mature both in the marketplace and in the corporate environment; realism—100% growth per quarter and permanent above-average returns go against all the rules of economic theory; and perseverance—strategic processes require application and effort, the persuasion of people, and the implementation of decisions.
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About the Author
Markus Venzin is a professor of strategic management at Bocconi University of Milan. He is also a founder of the strategic consulting firm Redcom.Carsten Rasner is a director of the Steinbeis-Hochschule Berlin and is responsible for the masters in business administration media management course.Volker Mahnke is a professor of strategy and innovation at the Copenhagen Business School.
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