General Discussion
In a game, strategy refers to a player's plan for winning. In military terms, strategy means outmaneuvering the enemy. In the world of business, "strategy" is used to maintain successes and achieve growth.
You've have a number of articles this week that highlight various concepts related to the development of sustainable business strategies. Some of these articles directly challenge traditional conceptions of competitive strategy analysis, while others augment and extend the traditional "strategic fit" model.
Review the articles below and based on those objectives and your analysis of the readings, respond to either "a" or "b" below, making direct references to several of the week's required or optional readings:
a. Compare and contrast conventional strategic planning concepts with those of strategic intent and skill-based strategic thinking. Explain how the differences in these concepts can lead to better business strategy practice.
b. Explain the relationships between business models, business strategies, and strategic intent and skill-based strategic thinking. Include an explanation of how these concepts can help avoid myopic business strategy development.
Please visit the Walden University Library (https://library.waldenu.edu/) to locate the articles from the Business Source Premier database.
- Hamel, G., & Prahalad, C. K. (2005). Strategic intent.
Harvard Business Review, 83(7-8). Retrieved from Business Source Premier database.
In this article, the authors examine traditional business strategies that do not achieve competitive advantage. They then outline the benefits of setting goals and identifying resources in order to expand a company's current position.
Kim, W. C. & Mauborgne, R. (2005). Value innovation: A leap into the blue ocean. Journal of Business Strategy, 26(4). Retrieved from Business Source Premier database.
In this article, the authors outline the basics of "blue ocean strategy," which they recommend as an alternative to traditional business strategies. This strategy focuses on value innovation to create a new, uncontested market space. Magretta, J. (2002). Why business models matter. Harvard Business Review,80(5). Retrieved from Business Source Premier database.
Magretta explains the concepts of business models and strategy, which are essential to every company's performance. Examples of this successful blending include American Express, EuroDisney, Wal-Mart, and Dell Computer.