What is Strategy and Disruptive Innovation?
Question#1: What is Strategy? The dominant idea in the field of strategy - that success consists of establishing a unique competitive position sustained for long periods - is no longer relevant for most businesses. In the 1960s, Peter Drucker told us that strategy was how we competed on price. In the 1980s, Michael Porter redefined it around his Five Forces, and recently it is being redefined by Gail McGrath and Clayton Christenson by change.
How do you define Strategy?
Below are links to articles reflecting on the evolution of our understanding of Strategy. Read and reflect upon the topic. You may wish to do some research of your own. Make sure you support your statements.
Transcient AdvantageLinks to an external site.
Discovery-Driven PlanningLinks to an external site.
What is Strategy, Again?
Question#2: In his book, The Innovator’s Dilemma, Clayton Christensen describes companies that do everything right, yet still fail. The external environment changes and destroys or radically changes existing business models.
Is disruptive innovation real, and how do we, as managers, anticipate it?
Below are links to articles reflecting disruptive innovation. Read and reflect upon the topic. You may wish to do some research of your own. Make sure you support your statements.
What Is Disruptive Innovation and Why Is It So Important?-
Disruptive Innovation - Clayton Christensen -
How useful is the Theory of Disruptive Innovation? - Is disruption theory wearing new clothes or just naked. pdf
What is Strategy?
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What is Strategy?
Question #1: What is Strategy?
The definition of strategy has evolved over time to suit the nature of business environment that a company is subjected to. Since Peter Drucker’s 1960s definition to Michael Porter’s 1980s definition and now Gail McGrath and Clayton Christenson’s redefinitions, strategy has been a valuable tool towards ensuring that businesses achieve success. As published by Ovans (2015) in the Harvard Business Review, strategy is a combination of the old and the new with an aim to ensure that one develops a unique approach of operations and productivity. It is the development of unique and outstanding approaches to conduct different activities. For instance, in marketing, developing an effective strategy would involve ensuring that an organization utilizes unique marketing approaches, that will ensure that the business experiences outstanding marketing performance. A company needs to evaluate untapped niches in the process of developing a strategy while ensuring that they focus on using the niches to achieve the business objectives. The use of technology in marketing has been a effective move in developing the marketing strategy since technology offers a unique and valuable position in marketing. An effective strategy as defined by Porter needs to consider the five forces to ensure that it is highly effective. In order for a business to establish outstanding performance using it strategy, it needs to be alert on changes that happen around new entrants, buyers, suppliers, competition and availability of substitutes. Strategy also ensures that it creates a sustainable environment to conduct business through ensuring that adaptability to change is guarantee...