Business Strategy - Four Schools of Thought
Extracts from article “The Right to Win” by Cesare Mainardi and Art Kleiner with Booz & Company.
Business strategy did not really become a formal focus until 1960. It really grew as a discipline from the 1970s – in large part due to increased economic turbulence and a need to improve and change.
Improvements in strategic thinking contributed significantly to business success. However, there have also been a large number of fleeting fads during the last 50 years that contributed to business failures.
The most important question to ask yourself is, ”Does our business strategy give us the right to win?” The answer is not in continually looking for and adopting new theories in hopes of finding the quick solution to success. The right approach is to develop your own method that focuses on building the underlying capabilities of your business.
There are four schools or camps of thought pertaining to business strategy. Each perspective offers something significant, so long as they are adopted in an appropriately balanced way.
The major authors contributing to the position school of strategic thinking include:
The authors contributing most significantly to the concentration school of strategic thinking include:
Key authors that made significant contributions to the execution model of business strategy are:
Key authors that made important contributions to the adaption framework of strategic thinking are:
Business strategy is at an evolutionary crossroads. It’s time to resolve the long-standing tension between the inherent identity of your organization and the fleeting nature of your competitive advantage. It’s 8 a.m. in the executive conference room of a large global packaged-foods manufacturer (a real company, its name withheld to preserve confidentiality). For the past two months, a team made up of 15 senior people has been exploring options for growth, winnowing them down to three basic strategies. Each is now summed up in a crisp 20-minute presentation. The first option focuses on innovation.