{"id":1071,"date":"2020-01-07T04:27:29","date_gmt":"2020-01-07T04:27:29","guid":{"rendered":"https:\/\/www.qfactor.com.au\/?p=1071"},"modified":"2020-01-07T04:27:29","modified_gmt":"2020-01-07T04:27:29","slug":"exploring-corporate-strategy","status":"publish","type":"post","link":"https:\/\/murrayslatter.me\/?p=1071","title":{"rendered":"Exploring Corporate Strategy"},"content":{"rendered":"\n<p>&#8220;How are you going to win in the period ahead?&#8221; That&#8217;s the key question behind Exploring Corporate Strategy.<\/p>\n\n\n<h2 class=\"wp-block-heading\"> What Is the Path to Success? <\/h2>\n\n\n<p>To win at anything worthwhile, you need a game plan. Professional sports teams know this, and this idea applies to your organization, your department, your team \u2013 and even to yourself as an individual.<\/p>\n\n\n<p>To be successful means knowing how to use your talent and resources to best advantage, and it&#8217;s very difficult to &#8220;win&#8221; if you don&#8217;t have this game plan in place.<\/p>\n\n\n<p>This article introduces you to a common-sense, systematic approach to strategy development.<\/p>\n\n\n<p>Strategy\nhas been studied for years by business leaders and by business theorists. Yet,\nthere is no definitive answer about what strategy really is. One reason for\nthis is that people think about strategy in different ways.<\/p>\n\n\n<p>For instance,\nsome people believe that you must analyze the present carefully, anticipate\nchanges in your market or industry, and, from this, plan how you&#8217;ll succeed in\nthe future. Meanwhile, others think that the future is just too difficult to\npredict, and they prefer to evolve their strategies organically.<\/p>\n\n\n<p><a href=\"https:\/\/www.amazon.com.au\/gp\/offer-listing\/0141033576\/ref=as_li_tl?ie=UTF8&amp;camp=247&amp;creative=1211&amp;creativeASIN=0141033576&amp;linkCode=am2&amp;tag=qfactorinsigh-22&amp;linkId=b95eaac0dedd53892665431b2264214c\">Gerry Johnson and Kevan Scholes<\/a>, authors of  <em>Exploring Corporate Strategy<\/em> say that strategy determines the direction and scope of an organization over the long term, and they say that it should determine how resources should be configured to meet the needs of markets and stakeholders.<\/p>\n\n\n<figure class=\"wp-block-embed-amazon-kindle wp-block-embed is-type-rich is-provider-amazon\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Exploring Strategy: Text and Cases\" type=\"text\/html\" width=\"640\" height=\"550\" frameborder=\"0\" allowfullscreen style=\"max-width:100%\" src=\"https:\/\/read.amazon.com.au\/kp\/card?preview=inline&#038;linkCode=am2&#038;ref_=k4w_oembed_i0WjQ5t9OCetQD&#038;asin=1292145129&#038;tag=qfactorinsigh-22\"><\/iframe>\n<\/div><\/figure>\n\n\n<p>Michael\nPorter, a strategy expert and professor at Harvard Business School, emphasizes\nthe need for strategy to define and communicate an organization&#8217;s unique\nposition, and says that it should determine how organizational resources,\nskills, and competencies should be combined to create competitive advantage. <\/p>\n\n\n<p>While\nthere will always be some evolved element of strategy, at Mind Tools, we\nbelieve that planning for success in the marketplace is important; and that, to\ntake full advantage of the opportunities open to them, organizations need to\nanticipate and prepare for the future at all levels. <\/p>\n\n\n<p>For\ninstance, many successful and productive organizations have a corporate\nstrategy to guide the big picture. Each business unit within the organization\nthen has a business unit strategy, which its leaders use to determine how they\nwill compete in their individual markets. <\/p>\n\n\n<p>In turn,\neach team should have its own strategy to ensure that its day-to-day activities\nhelp move the organization in the right direction. <\/p>\n\n\n<p>At each\nlevel, though, a simple definition of strategy can be&#8221;Determining how we\nare going to win in the period ahead.&#8221; <\/p>\n\n\n<p>We&#8217;ll now look more deeply at each level of strategy; corporate, business unit, and team<\/p>\n\n\n<figure class=\"wp-block-embed-amazon-kindle wp-block-embed is-type-rich is-provider-amazon\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Thinking, Fast and Slow\" type=\"text\/html\" width=\"640\" height=\"550\" frameborder=\"0\" allowfullscreen style=\"max-width:100%\" src=\"https:\/\/read.amazon.com.au\/kp\/card?preview=inline&#038;linkCode=am2&#038;ref_=k4w_oembed_U4CmUmUGtoeayg&#038;asin=0141033576&#038;tag=qfactorinsigh-22\"><\/iframe>\n<\/div><\/figure>\n\n\n<h3 class=\"wp-block-heading\"> Corporate Strategy<\/h3>\n\n\n<p>In business, corporate strategy refers to the overall strategy of an   organization that is made up of multiple business units, operating in   multiple markets. <\/p>\n\n\n<p>It determines how the corporation as a whole supports and enhances the value of the business units within it; and it answers the question, &#8220;How do we structure the overall business, so that all of its   parts create more value together than they would individually?&#8221;   <\/p>\n\n\n<p>Corporations   can do this by building strong internal competences, by sharing technologies and resources between business units, by raising capital cost-effectively, by developing and nurturing a strong corporate brand, and so on.   <\/p>\n\n\n<p>So, at this level of strategy, we&#8217;re concerned with thinking about how the business units within the corporation should fit together, and understanding how resources should be deployed to create the greatest possible value. Tools   like Porter&#8217;s Generic Strategies.<\/p>\n\n\n<h3 class=\"wp-block-heading\">Business Unit Strategy<\/h3>\n\n\n<p>To understand more on this subject&#8230;. check out my review of <a href=\"https:\/\/www.qfactor.com.au\/change-management\/kotters-8-step-change-model\/\">John Kotter&#8217;s 8-Steps to Leading Change<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;How are you going to win in the period ahead?&#8221; That&#8217;s the key question behind Exploring Corporate Strategy. What Is the Path to Success? To win at anything worthwhile, you need a game plan. Professional sports teams know this, and [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16,9,5],"tags":[],"class_list":["post-1071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-leadership-master-class","category-businessq","category-change-management","clearfix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Exploring Corporate Strategy - Murray Slatter<\/title>\n<meta name=\"description\" content=\"&quot;How are you going to win in the period ahead?&quot; That&#039;s the key question behind Exploring Corporate Strategy. 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In developing a strategy you are going to want the best\u2026","rel":"","context":"In &quot;Leadership&quot;","block_context":{"text":"Leadership","link":"https:\/\/murrayslatter.me\/?cat=6"},"img":{"alt_text":"In this blog post, we'll explore some best practices for developing a strategy that can help you lead your team to success.","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2023\/04\/Slide7-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2023\/04\/Slide7-1.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2023\/04\/Slide7-1.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2023\/04\/Slide7-1.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2023\/04\/Slide7-1.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5728,"url":"https:\/\/murrayslatter.me\/?p=5728","url_meta":{"origin":1071,"position":4},"title":"Culture Eats Strategy for Breakfast","author":"Murray Slatter","date":"June 25, 2025","format":false,"excerpt":"\u201cCulture eats strategy for breakfast.\u201d This famous quote, often attributed to Peter Drucker, is more than just a catchy phrase\u2014it\u2019s a strategic warning and a leadership imperative. What Does It Mean? At its core, the phrase suggests that organizational culture is more powerful than any strategic plan. 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