We hope you have enjoyed this series of briefings on Strategy Dynamics and found the ideas useful. The story we have told matches the structure of the textbook Strategic Management Dynamics (Wiley, 2008), and the shorter e-book Strategy Dynamics Essentials.
- We should be concerned with how performance improves over time, not in static ratio comparisons (Chapter 1 and Briefings 1-6).
- Resources drive performance, so we need to understand and specify these items (Chapter 2 and Briefings 7-10).
- Resources accumulate and deplete over time – a process that is essentially simple, but which can be very powerful (Chapter 3 and Briefings 11-15).
- Growing and retaining resources depends on what already exists, leading to a self-sustaining system that can generate a wide range of performance outcomes (Chapter 4 and Briefings 16-23).
- <Resources have qualities of “attributes” that change along with them, managing which can have powerful effects on performance (Chapter 5 and Briefings 24-35).
- Resources develop through stages, where their contribution to performance changes (Chapter 6 and Briefings 36-48).
- Competition is about rivalry for resources (Chapter 7 and Briefings 49-63)
- Performance is steered through goals and control systems (Chapter 8 and Briefings 64-72).
- Intangible factors have powerful effects on the system, but can be managed (Chapter 9 and Briefings 73-79).
- Capabilities to build and sustain resources grow and drive further performance (Chapter 10 and Briefings 80-86).
This, though, is only the foundation. None of this is useful if not used, so here are some steps to take the principles forward into practice:
- Start with using the simple ideas, on limited challenges, e.g. the basics of how flows build resources and drive performance.
- Look for more impact by using some of the key extensions, still in limited situations, e.g. improving the qualities of resources (chapter 5), developing those resources (chapter 6), or tackling competition (chapter 7)
- Then when confidence is built, start looking at the bigger picture, and understanding how to drive the entire system.
To help with this effort, the strategy Dynamics website has extensive resources – articles, books, simulation- based games and courses. Good luck, and share your successes at LinkedIn Strategy Dynamics group, or write to me directly.
Until next time…
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