Strategy, Capabilities & Positions

JWI 520, People Management Week2 Summary    7/15/12

This week I learned about strategy, strategic capabilities and how to differentiate strategic positions.
I understand where strategy belongs in the grand scheme of things - never ahead of people.

Key concepts and takeaways for me this week are:

0. People first, Strategy second (Welch, JWI 540 W2 video)
*************************************
If you get the people right, the game is over
the team that fields the best players wins

1. Competitive Strategy - How will a firm compete (Becker et al, 2009)
*********************************************************
What is your secret sauce ?
Deliberately choosing a different innovative set of strategic activities & capabilities to deliver a unique mix of value.
Identify how you compete differently from your competitors and where your competitive advantage is located.

2. Strategic capabilities - what must a firm do exceptionally well to win
*********************************************************************************
- is the capability an important source of the value proposition you offer to customers ?
- is the capability relatively unique among your firm's close competitors?
- if close competitors rely on a similar capability, is your firm heads and shoulder above the competition in execution of that capability ?
- if close competitors rely on a similar capability, does your firm execute on par with industry standards or well enough to remain profitable?

3. Strategic positions - "A" jobs critical to deliver value proposition
****************************************************************************
- they have the greatest strategic impact on capabilities.
- there is high level of performance variability in these positions
- needs disproportionate investment

Awareness of these concepts completely changes the way I view my workplace.
I have gained confidence to better drive myself and my organization to win.

Dr DP