By Constantinos Markides
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Extra resources for All the Right Moves: A Guide to Crafting Breakthrough Strategy
Or tomorrow? What can be done to avoid the danger of being too self-absorbed? Management can try to predict how the industry is going to change and build the necessary competencies accordingly. Or management can build a variety of competencies into the firm now, hoping that however the future unfolds, the company will be prepared to compete. Both approaches require the organization to recognize the importance of learning and to put in place structures and processes that facilitate such learning throughout the organi- < previous page page_46 next page > < previous page page_47 next page > Page 47 zation (the importance and facilitation of learning is covered in detail in Chapters 8 and 9).
Because of the uncomfortable consequences of such choices, most companies fudge the issue. Yet a clear and explicit decision is exactly what the organization needs. " J. '' 14 4. Finish your thinking by asking this question: If a competitor were to redefine the business, what would its resulting strategy be? Into what actions would that strategy be translated? How can I prepare for such an event? This last step is as important as the previous three. There's always the possibility that your competitor will redefine the business before you do.
As in the case of deciding on "how," the real challenge is to develop the individual pieces and then put them together in such a way that they support and complement each other on one hand while they collectively support and promote the chosen strategy on the other. The task is not only to create the appropriate individual parts of the system but to put them together in such a way as to create a strong and reinforcing system. The next six chapters explore these issues in more detail: Chapter 2 examines the first ingredient of a superior strategic positionthe appropriate definition of the business.