Week 8

1
Week 8

• Identifying Strategic Alternatives

2
Strategic Choice

• Identifying Selecting the Best Strategy
• Identify the challenge
• Develop criteria for choosing among alternative
  strategies
• Generate alternative strategies
• Evaluate alternatives based on criteria
• Make the strategic choice
• Implement the strategic choice
• Control Evaluate progress success

3
Tools for Strategy Development

• Blue Ocean Strategy Development
• Differentiation
• Create new industries
• Eg. MP3 players Palm Pilot organizer
• Expand the boundaries of an existing industry
• Eg. Apple iPod RIM Blackberry
• The Ries Report First in the Mind
  http//www.riesreport.com/index.php?video_id45
• Brainstorming
• TOWS Analysis

4
Brainstorming

• The brainstorming process was popularized by
  advertising executive Alex Osborne in the 1930s
• The process encourages groups to break out of
  existing paradigms to generate new ideas
• 3 key principles
• Generate as many ideas as possible
• There are no bad ideas
• Build on ideas to create new combinations
• Dick Van Dyke writes a comedy bit
• http//www.youtube.com/watch?vnSeqNElI4dU
• BMW explores new concepts
• http//www.youtube.com/watch?vkTYiEkQYhWY

5
TOWS Analysis

• Start with your shoe companys SWOT

WEAKNESSES
STRENGTHS
OPPORTUNITIES
THREATS
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TOWS Your Shoe Company

• A TOWS analysis builds on the information you
  have developed for the SWOT

7
Names
Exercise 8 TOWS Matrix
Develop a TOWS Matrix for your shoe company
8
Strategic Choice A Caution

• Pressures from Organizational Culture
• If a strategy is incompatible with the
  organizational culture, the likelihood of its
  success is very low.
• Foot-dragging and even sabotage will result as
  employees fight to resist a radical change in
  organizational philosophy.