Problem-Solving Approach to Business Strategy

Sathit Parniangtong
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Sathit Parniangtong: CMBT Strategy and Management Consulting

Chapter 3 in Competitive Advantage of Customer Centricity, 2017, pp 69-87 from Springer

Abstract: Abstract Every strategy eventually runs its course, having traversed its cycle of applicability. As the competitive landscape changes, a strategy that once proved successful may no longer yield the same outcome, so a new way must be found to compete in order to sustain superiority. Often an existing strategy is brought into question when a company repeatedly fails to achieve what it set out to accomplish. This can be traced to the organization’s inability to address relevant strategic issues and mobilize the entire workforce to execute key strategic initiatives. A factor oft-cited as contributing to this failure is vision barrier—management’s inability to articulate clearly how a strategy will be executed. According to two separate surveys conducted over the past several years, fewer than 10% of employees reported that they understood their company’s strategy, not to mention the majority of them failed to understand how what they do contributes to the success of the company’s strategy.

Keywords: Consult Firm; Balance Scorecard; Strategic Issue; Issue Tree; Strategic Thinking (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/978-981-10-4442-7_3

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