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In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
Porter's Five Forces Framework is a method of analysing the competitive environment of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness of an industry in terms of its profitability. An "unattractive" industry is one in which the effect of these five forces reduces overall profitability. The most unattractive industry would be one approaching "pure competition", in which available profits for all firms are driven to normal profit levels. The five-forces perspective is associated with its originator, Michael E. Porter of Harvard University. This framework was first published in Harvard Business Review in 1979.
Bruce Doolin Henderson was an American businessman and management expert. He founded Boston Consulting Group (BCG) in 1963 in Boston, Massachusetts and headed the firm as the president and CEO until 1980. He continued as chairman of BCG until 1985.
ACE Aviation Holdings Inc. was a Canadian holding company that was the former parent company of Air Canada. It was headquartered in Montreal. In 2012, the company signified its intent to dissolve, and was dissolved in 2024.
Frederick F. Reichheld is an American New York Times best-selling author, speaker and business strategist. He is best known for his research and writing on the loyalty business model and loyalty marketing. He is the creator of the Net Promoter System of management (NPS).
Robert Samuel Kaplan is an American accounting academic, and Emeritus Professor of Leadership Development at the Harvard Business School. He is known as co-creator of Balanced Scorecard. together with David P. Norton.
Profitable Growth is the combination of profitability and growth, more precisely the combination of Economic Profitability and Growth of Free cash flows. Profitable growth is aimed at seducing the financial community; it emerged in the early 80s when shareholder value creation became firms’ main objective.
Boston Consulting Group, Inc. (BCG) is an American global management consulting firm founded in 1963 and headquartered in Boston, Massachusetts. It is one of the "Big Three" along with McKinsey & Company and Bain & Company. Since 2021, BCG has been led by the German executive Christoph Schweizer.
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An extended enterprise is a loosely coupled, self-organizing network of firms that combine their economic output to provide products and services offerings to the market. Firms in the extended enterprise may operate independently, for example, through market mechanisms, or cooperatively through agreements and contracts. They provide value added service or product to the OEM.
Creating shared value (CSV) is a business concept first introduced in a 2006 Harvard Business Review article, Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility. The concept was further expanded in the January 2011 follow-up piece entitled Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society. Written by Michael E. Porter, a leading authority on competitive strategy and head of the Institute for Strategy and Competitiveness at Harvard Business School, and Mark R. Kramer, of the Kennedy School at Harvard University and co-founder of FSG, the article provides insights and relevant examples of companies that have developed deep links between their business strategies and corporate social responsibility (CSR). Porter and Kramer define shared value as "the policies and practices that enhance the competitiveness of a company while simultaneously advancing social and economic conditions in the communities in which it operates", while a review published in 2021 defines the concept as "a strategic process through which corporations can turn social problems into business opportunities".
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Bain & Company is an American management consulting company headquartered in Boston, Massachusetts. The firm provides advice to public, private, and non-profit organizations. One of the Big Three management consultancies, Bain & Company was founded in 1973 by former Group Vice President of Boston Consulting Group Bill Bain and his colleagues, including Patrick F. Graham. In the late 1970s and early 1980s, the firm grew rapidly. Bill Bain later spun off the alternative investment business into Bain Capital in 1984 and appointed Mitt Romney as its first CEO. Bain experienced several setbacks and financial troubles from 1987 to the early 1990s. Romney and Orit Gadiesh are credited with returning the firm to profitability and growth in their sequential roles as the firm's CEO and chairman respectively.
The Profit pools is a strategy model that can be used to help managers or companies focus on profits, rather than on revenue growth. The method was conceived by Orit Gadiesh and James L. Gilbert, both consultants at Bain & Co. presented the following definitions: "the total profits earned at all points along the value chain of an industry. Companies that see what others do not see, will be best prepared for capturing a larger share of the profits in an industry."
Profit from the Core: Growth Strategy in an Era of Turbulence is a non-fiction book on business strategy by American business consultant Chris Zook with James Allen. This is the first book in his Profit from the Core trilogy. The book is followed by Beyond the Core released in 2004 and Unstoppable in 2007.
Unstoppable: Finding Hidden Assets to Renew the Core and Fuel Profitable Growth is a non-fiction book on business strategy by American business consultant Chris Zook. This is the third book in his Profit from the Core trilogy, preceded by Profit from the Core released in 2001 and Beyond the Core in 2004.
Beyond the Core: Expand Your Market Without Abandoning Your Roots is a non-fiction book by American business consultant Chris Zook. This is the second book in his Profit from the Core trilogy, followed by Unstoppable released in 2007.
Martín Escobari is co-president and managing director of global growth equity firm General Atlantic. Escobari is also head of global growth equity and chairs General Atlantic's global investment committee and leads its business in Latin America.
References
- ↑ Chris Zook
- ↑ The Times, "The top 50 thinkers," November 7, 2007 ()
- ↑ Chris Zook
- ↑ Chris Zook: An interview by Bob Morris
- ↑ "A Return to Growth in Turbulent Times (Video)". Bain & Company. Retrieved 2025-01-16.
- ↑ "Thinkers50 Strategy Award 2013" (PDF). Retrieved 2025-01-16.
