Since the onset of the Fourth Industrial Revolution numerous corporations have found that traditional ‘strategic planning’ is ineffectual in responding to, or capitalising on, unforeseen or unexpected change. In recognition of this and associated symptoms of inertia, bankruptcy or worse, this fieldbook was written for the purpose of guiding strategy practitioners through their intended or unintended journey into the future by providing meaningful strategy practices that enable responses to disruption and more importantly, better strategy practices overall. With a focus on strategy practice (‘doing’ strategy), this book represents a ‘how-to’ of Third Wave Strategy as defined in detail in the introductory book Corporate Strategy (Remastered) I.
In addition to a description of methods that contribute to the philosophy of Third Wave Strategy, readers will witness the experiences of a virtual illustrative company that is travailing the same journey of organisational transformation and renewal that the methodologies described in this book also seek to address. The overall value of the book, therefore, is its ability to relate theory to practice in a factual and experiential format.
A key part of the use of the virtual case study based on the illustrative Third Wave Industries (T-wI) Corporation is the blending of the system and process mechanisms that are a part of Third Wave Strategy and its framework, the strategy tools and techniques that are drawn from new and existing strategy practice and the soft issues that are represented by the human responses to change, as well as the management of change enacted in a corporate environment.
Table of Contents:
Introduction
What to do when you can’t be what you can’t see
Concept of Corporate Strategy (Remastered)
How to use this book
Workshop case study: Third-wave Industries (T-wI), Security Printing and Packaging Division (SPPD)
Fundamental component of Third Wave Strategy: sponsive strategic change
1 Concept of Corporate Strategy (Remastered)
Chapter overview
Learning insights
Work plan phase 1: establish details of Long Term Strategy
Introduction: Concept of Corporate Strategy (Remastered)
Transforming T-wI, SPPD: a need to reframe, transform and renew
System and process: construct of the Third Wave Strategy framework
Element 1: expressions of Purpose, Mission, Vision and Long Term Strategy
Long Term Strategy
Cognition and organisational change: an assessment of the human aspects of Third Wave Strategy
Stakeholder Engagement: communicating, motivating and organising for high performance
Formal strategy practice: open strategy practice at the level of a profession
2 Articulating Long Term Strategy
Chapter overview
Learning insights
Work plan phase 2: establish details of Long Term Strategy
Introduction: fundamentals of Long Term Strategy
Integrated Value System
Core elements of the Strategic Architecture
Articulating Long Term Strategy at T-wI, SPPD
3 Reinventing Strategic Planning
Chapter overview
Learning insights
Work plan phase 3: reinventing Strategic Planning: Strategy Evaluation
Introduction: the notion of Strategy Evaluation
Redefining Long Term Strategy at T-wI, SPPD
Strategy Evaluation, Shaping: enabling structured and unstructured strategic thinking
Strategy Evaluation, Reviewing: assessing the value and effectiveness of strategy
Evolving a Strategy Narrative and redefined journey of transformation at SPPD
4 Implementing Third Wave Strategy
Chapter overview
Learning insights
Work plan phase 4: implementing Third Wave Strategy
Introduction: implementing a Program of Continual Strategy Renewal at PSD – Health
Implementing a Program of Continual Strategy Renewal
5 Strategic Alignment
Chapter overview
Learning insights
Work plan phase 5: Strategic Alignment
Introduction: addressing issues of Strategic Alignment
Evolving a reconciliation of Strategic Alignment
Managing the dichotomies of strategy in practice and at T-wI, PSD – Health
Revisiting the optimisation of Strategic Alignment at PSD – Health
6 Future strategy practice
Chapter overview
Learning insights
Work plan phase 6: Strategic Alignment
Introduction: future strategy practice
Open strategy practice in play
Open strategy practice at PSD – Health
Conduct of a pilot open and Green Shoot Strategy program
Next steps
About the Author :
Paul Hunter (DBA) is Founder and CEO of the Strategic Management Institute and past partner at PwC. He works on a global stage consulting and teaching. He is also the author of The Seven Inconvenient Truths of Business Strategy (2014) and a chapter contributor in Corporate Universities: Drivers of the Learning Organization (Rademakers, 2014).
