A Dialogue Process for Choosing Value-Creating Strategies

Samuel E. Bodily and Michael S. Allen
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Samuel E. Bodily: Darden Graduate Business School, University of Virginia, Box 6550, Charlottesville, Virginia 22906-6550
Michael S. Allen: Strategic Decisions Group, 2440 Sand Hill Road, Menlo Park, California 94025-6900

Interfaces, 1999, vol. 29, issue 6, 16-28

Abstract: A decision process has proven effective in three activities that are key to value creation: choosing an excellent strategy, actually bringing about change, and operating effectively with the new strategy. The dialogue is between a decision board and the strategy team as they work through six steps of a decision process. This process is focused on alternatives and implementation and is founded in decision analysis. Strategy frame-works and structuring tools are key to assessing the business situation. Risk and value trade-offs are made explicit, leading to concrete proposals to add value and reduce risk. Explicit plans for action are developed as the strategic alternative is chosen. Companies have developed strategy insights using this process, as we illustrate with examples from the pharmaceutical industry.

Keywords: decision analysis; risk; industries; pharmaceuticals (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (8)

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