Dismissing the plethora of meaningless buzz words, simplistic checklists, and impractical business models common to management theory, this handbook advocates down-to-earth techniques for creating and implementing realistic business strategies. Presenting an array of methods that have stood the test of time in real-world business and academic environments, the content focuses on the strategic process as the backbone for the planning and implementation of strategic initiatives. Serving to remind readers that questions such as What do I do? When do I do it? and What goals should I be trying to achieve? should be posed at each stage of the strategic process, chapters begin with a brief introduction summarizing the tasks associated with specific stages, such as market analysis and development of a long-term vision, and the anticipated results. Would-be strategists are also advised on the axioms of patience, realism, and perseverance as they pertain to business management: patience—business strategies take time to mature both in the marketplace and in the corporate environment; realism—100% growth per quarter and permanent above-average returns go against all the rules of economic theory; and perseverance—strategic processes require application and effort, the persuasion of people, and the implementation of decisions.(text from the publisher)

Table of Contents

1 Welcome to the World of the General Manager!

2 Strategic Performance Measurement
- What purposes should strategic performance measurement
serve?
- In which areas should performance be measured?
- What principles must be considered when measuring
performance?

3 Initiating the Strategy Process
- What must you particularly watch out for during the
initiation phase?
- Which of the building blocks of strategic management
should you discuss first?
- How do you organize a strategy workshop?
- How do you set priorities?
- How can the effect of the strategy process be strengthened?

4 Market Analysis
- What are the uses of a careful analysis of the market?
- How are relevant markets defined?
- What influence do general segment factors exercise?
- How can the industry structure be described?
- How can the future development of the market be described?
- How can conclusions be drawn from market analysis?

5 Company Analysis
- Why is the resource-based approach attracting more
attention?
- What kinds of resources and capabilities can be
distinguished?
- How can the strategic value of resources and capabilities
be established?
- How can knowledge be systematically analyzed?

6 Developing a Vision and Long-Term Objectives
- What features should a vision have?
- Leadership in the strategy process
- How are strategic alternatives assessed and selected?

7 Developing a Corporate Strategy
- How are synergies created?
- How are diversification processes managed?
- How are internationalization processes managed?

8 Developing a Business Strategy
- What are the features of successful business strategies?
- How is a cost-leadership strategy developed?
- How is a differentiation strategy developed?
- How is a focus strategy developed?

9 Developing Functional Strategies
- How is a marketing strategy developed?
- What are the tasks of personnel management?

10 Strategy Implementation
- At what levels can you influence initiatives for change?
- How can processes of change be managed?
- Summary: Process is Much More Important than Content