Strategic course corrections (aligning corporate strategy with the business environment)

Citation

Kanazawa, M. (2009), "Strategic course corrections (aligning corporate strategy with the business environment)", Strategic Direction, Vol. 25 No. 5. https://doi.org/10.1108/sd.2009.05625ead.002

Strategic course corrections (aligning corporate strategy with the business environment)

Article Type: Abstracts From: Strategic Direction, Volume 25, Issue 5

Kanazawa M.Industrial Management, November/December 2008, Vol 50 No. 6, Start page: 25, No. of pages: 5

Purpose – Presents a process for monitoring business environments and ensuring that organizational strategy accounts for external factors. Design/methodology/approach – Likens managing strategy to sailing and navigating using waypoints, argues that volatile environments/markets require regular monitoring and strategic adjustment, and sees change in a market environment as a waypoint requiring a change in strategic direction. Recommends use of market mapping, explains that a market map structures all the market, company and competitive data into a single view, and provides an example map based on introduction of the Apple iPod into the personal music player market. Emphasizes the role of, and need to involve people in, change, outlines an example in which a chief executive asked truck drivers for their ideas on how to save fuel, and returns to the sailing analogy to demonstrate communication between the captain and the crew when a change of course is required. Transfers the sailing change-of-course procedure to the organization/business context, proposes use of a no-slack launch roadmap, and depicts components of a no-slack road-map as confront reality, focus the vision and business model, align to transformative initiatives, engage employees, execute the change, and follow through using checkpoints. Originality/value – Adds to organizational change models.ISSN: 0019-8471Reference: 38AC531

Keywords: Business environment, Change management, Corporate strategy, Metaphors