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Strategic Analysis (VUCA Framework Challenges (Assumes people adapt…
Strategic Analysis
VUCA Framework Challenges
Not always appropriate
Assumes people adapt
Challenge requires response
Not always applicable
Forces framework
May not be four
Internal
Micro
Linked to strategic management
Organisational
Resources
Capabilities
External
Macro
STEEPLE
Forecast future
Assess current and future
impact on strategy
Impact on org
Opportunites
Threats
Monitor and predict trends
Scan Macro
Identify Macro
Industry specific
Factors Inter-related
Complex
Dynamic impact
Challenges of Framework
Can't prioritise
Not Dynamic
Just a list
VUCA - Evaluate External Challenges
Purpose
Understand environment
Potential strategic Responses
Information
Access meaningful data
Research to fill gaps
Make sense of it
Restructure
change processes
change structure
Adapt to environment
Experiment
New ideas
New technology
New strategies
Trial and error
Refine and learn
Agility
Act quickly
Resource slack
=resources ready!
Stockpile =costs <
Volatility
BUT Frequent change
CANT accurately predict situation
Have info
Understand situation
RESPONSE
Agility
Uncertainty
Lack knowledge of impact
Cause/Effect
Positive/Negative
Hard to predict
RESPONSE
Information
Complexity
Multiple aspects
Dynamic environment
Inter-relations
RESPONSE
restructure
Ambiguity
Cause/effect unclear
No precedents
Eg. new market
Lack knowledge
No rules of game??
Pioneering!
RESPONSE
Experiment
External
MESO
Industry specific
Buyers
Suppliers
Substitutes
Competition
New entrants