Strategy Formation and Implementation

Executive Summary

1. State the purpose of the project/report

2. Summarises what you’ve DONE that are covered in the main contents of the report

3. Therefore, write in the present or past tense

4. DO NOT write in the future tense, e.g.,”…this report will then propose a strategy…”

Identify and Discuss Current Business Strategy

5. MUST examine strategy statement or value chain. Strategy statement is NOT mission or vision statement

6. Discuss at least FIVE activities in-depth, and the remaining more generally.

7. Identify evidence of cost leadership or differentiation in at least on activity, preferably more. The less activities you identified, the deeper you must investigate. This evidence is about Myer engaging in these activities in a different way or a better way compared to competitors, thus providing them with competitive advantage in terms of cost leadership or differentiation.

8. If strategy statement is available, should examine it as well.

9. Must then argue that the evidence points to one of Porter’s generic strategies. There are 6 possible options.

Strategic Position Review or SWOT (short to medium length section)

10. State the purpose of this section, which is to provide the essential background to the proposed strategic initiative in the next section.

11. Provide key findings of your Assignment 1 analysis, specifically the SWOT.

12. Discuss them. DO NOT present entire section in a table.

13. But you may summarise the SWOT in bulleted points in a table.

The Proposed Strategic Initiative

14. State at the outset, what your proposal is about. Should be limited to a short paragraph of not more than 5 medium length sentences.

15. Discuss the theoretical support or basis for your proposal. Use TOWS, Ansoff’s Matrix or Value Chain. Can use me than one if it is deemed applicable.

16. Discuss your proposed strategic initiative in full details

17. Provide theoretical support for competitive advantage of your proposal through Porter’s generic strategies, Bowman’s clock, or Blue Ocean. Can use more than one if deemed appropriate.

18. Optional: Use VRIO to argue further for competitive advantage.

Justification of Proposed Strategic Initiative

19. Use the SAFe framework – make sure your discussions are in line with the section on Strategic Position Review.

20. Optional: Use VRIO to justify further

Implementation Plan

21. Identify and discuss changes that need to be made – e.g., new work processes, re-organise existing work processes, new people, new assets, new structure (e.g., new management, re-organise structure, new or re-organise control systems.

22. Use change management theories in your discussions, e.g., types of change, change levers, management change resistance.

23. In line with the changes, what new resources or capabilities will be needed. How will they be obtained – organic development, alliance or M&A?

24. Provide an implementation schedule/time-table. Time division by quarterly period over 3 years is enough. Think: Operations; HR; IT; Marketing; Procurement, etc.

Measurement/Assessment of the Strategic Initiative Performance

25. Determine the items to be measured following guidelines in Balanced Scorecard.

26. Insert identified items into the strategy map. The map is a MUST.

27. Discuss and explain WHY those items are chosen for measurement and HOW they relate in the hierarchy of the BSC.

Conclusion

Again, summarise the report. You can repeat some of the things you said in the executive summary.