Profiting from the downturn – e.g. airlines

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Nice example of what looks like a strategically sound business [Lufthansa] pouncing on valuable resources shaken loose when a feeble competitor [Alitalia] stumbles. The Economist reports they will be offering new services to eight other European cities from under-served Milan.  

With the downturn accelerating, there will be many more examples of weak firms forced to surrender potentially valuable resources – especially capacity and people – to those whose sound strategic management avoided getting into trouble. In the extreme, this will involve ...

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Strategic recovery guide

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I’ve fumed about the strategic errors that have got so many firms into the mess in which they now find themselves, but I guess you might like some idea how to get out of a hole? I just gave a short session on one approach to this with a class of 50 senior execs, and was reminded about a project I did to help a company dig itself out of trouble last time round, after the 2001/02 debacle. No guarantees, but ...

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Wikipedia on strategic management

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Working on the 2nd edn of the textbook, I want to link to other things folk may find if they look into this subject, and of course Wikipedia is going to be popular. Shame to find, then, that their entry on strategic management ‘needs to be rewritten’ to comply with quality standards. Click on the discussion, and there’s an interesting stream of comment and explanation of why it was withdrawn as a ‘featured’ Wiki article. Amongst this debate I see ...

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What is strategy? … and the strategy life-cycle

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Just working on the first chapter of the textbook 2nd edition, and thought it needed a bit more on this question – found the only way to explain to newbies was to go through an organization’s life and track what ‘strategic management’ actually does over that time-horizon. Main messages are:

  • The choice of strategic ‘position’ [what to provide, to whom and how, relative to rivals] is a very rare activity.
  • Substantial strategic initiatives [acquisition, new market entry etc] occur occasionally.
  • By far the ...
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Strategy in tough times

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I have just been asked to include a specific extra section on this in the LBS ADP executive course on which I teach, which reminds me it may be useful to many others, so here’s a very short summary

First, it’s unlikely that making big throws on changing your strategic positioning will help much – it may even be damaging. Sure, you might get a bit of revenue support from adding or moving to a slightly lower-priced proposition as ...

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