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Which Strategy when (Strategies of leverage (Resources (Strategically…
Which Strategy when
Strategies of leverage
Resources
Strategically important
Valuable, rare, inimitable, nonsubstuitutable
Moderately linked
Medium term sustainability
Use resources in new products and markets
Competitive advantage
Ownership of resources
Inimitability
Property rights
path dependence
time needed to develop resources
Challenges
Adjusting resource portfolio
Cognitive and political rigidities
Strategies of Position
Resources
Mutually reinforcing resource system
Deepen links between resources
Often mundane
Mundane
Tightly interlocked
Best for stable envirorments
Long term sustainability
Competitive Advantage
Cost Leadership
Differentiated and defensible strategic position
Inimitablility
Ambiguity of tightly linked resources
Time to develop resource system
Challenges
Adjusting resource system
Speed of change
Can damage resource synergy
Strategies of Opportunity
Resources
Strategic processes
Simple Rules
Opportunity rich
Few
Deep and swift flows of opportunities
Dynamic Envirorments
Unpredictable sustainability
Inimitability
First mover advantage
Challenge of inferring rules
Partially improvised outcomes
Challenges
Maintaining edge of chaos
Timing to change strategies
Knowing the right number and types of rules
Choose
Understand your circumstances
Deep Review of your industry
Identify five structural forces
customers
substitutes
suppliers
barriers of entry
buyers
In between
Dynamic
No clear tech dominance
Nothing is well defined
Unexpected innovations
Stable
Standards are well defined
Product life cycles are known
Expectations are clear
limited number of competitors
anticipated innovations
Take stock of your resources
Tangible
Intangible
Review links among resources
Organizational Processes
Identify most strategically important resources
Useful
Rare
Inimitable
Nonsubstitutable
Determine the relationships among resources
Review interdependence
Recombine human capital and tech resources
Check how tightly linked they are
Tight
More defensible
Resist Change
Loose
Easier change
Redundant
Innefficiently deployed