JWI 540 Strategy, Week1 Summary, 7/8/12
Jack Welch Management Institute
There are numerous concepts I have learned in this class in a very short time.
1. What Winning Means - This is the Destination
*******************************************************
Customers get superior products, services & also post-sales relationship
Employees get job security, better rewards
Communities benefit from employees giving back
Shareholders get short term commitments and long term vision
Shareholder value increases as an outcome of implementation of successful strategies
2. Choices for Competitive Positioning
********************************************
Differentiate with Highest value (premium price), Lowest Cost, Unique differentiation or Service
3. Linkages
**************
Customer Need, Demand, Strategy & Competitive Advantage, Distribution Channel, Sales as the beginning of a Customer Relationship, Post Sales Service, Customer Delight
4. What is Strategy?
***********************
It is the CEO's view of how the firm will compete to win in the marketplace. Jack Welch's 5 slides framework is used to spell out and implement the business strategy - which can also be strengthened by strategy diamond (Carpeter & Sanders, 2007). Corporate Strategy spells out which businesses the firm will compete in, how ownership by the corporate parent adds value to business, how diversification helps each line of business (LOB) compete better.
5. Jack Welch's 5 slides Framework offers a practical way to spell out strategy
****************************************************************************************
Clarifies Playing Field, Competitors, You, what's around corner, Winning Move
6. Jack Welch's 3 steps for Strategy Implementation
***********************************************************
Find the big Aha, Put right people in right positions to implement like hell, Relentlessly seek and improve best practices
7. Go beyond defense and play offense to win (Dr D)
*****************************************************
Plan desired strategic behavior (possess some unique skills & core competencies, make some contribution, apply some process better than anyone else), Execute brilliant offensive competitive maneuver, seize competitive advantage & Thrive
The fantastic training and coaching I am privileged to receive in this class empowers me to take a hard look at my current business unit strategy and see how it fits into the larger corporate strategy.
Dr DP
Jack Welch Management Institute
There are numerous concepts I have learned in this class in a very short time.
1. What Winning Means - This is the Destination
*******************************************************
Customers get superior products, services & also post-sales relationship
Employees get job security, better rewards
Communities benefit from employees giving back
Shareholders get short term commitments and long term vision
Shareholder value increases as an outcome of implementation of successful strategies
2. Choices for Competitive Positioning
********************************************
Differentiate with Highest value (premium price), Lowest Cost, Unique differentiation or Service
3. Linkages
**************
Customer Need, Demand, Strategy & Competitive Advantage, Distribution Channel, Sales as the beginning of a Customer Relationship, Post Sales Service, Customer Delight
4. What is Strategy?
***********************
It is the CEO's view of how the firm will compete to win in the marketplace. Jack Welch's 5 slides framework is used to spell out and implement the business strategy - which can also be strengthened by strategy diamond (Carpeter & Sanders, 2007). Corporate Strategy spells out which businesses the firm will compete in, how ownership by the corporate parent adds value to business, how diversification helps each line of business (LOB) compete better.
5. Jack Welch's 5 slides Framework offers a practical way to spell out strategy
****************************************************************************************
Clarifies Playing Field, Competitors, You, what's around corner, Winning Move
6. Jack Welch's 3 steps for Strategy Implementation
***********************************************************
Find the big Aha, Put right people in right positions to implement like hell, Relentlessly seek and improve best practices
7. Go beyond defense and play offense to win (Dr D)
*****************************************************
Plan desired strategic behavior (possess some unique skills & core competencies, make some contribution, apply some process better than anyone else), Execute brilliant offensive competitive maneuver, seize competitive advantage & Thrive
The fantastic training and coaching I am privileged to receive in this class empowers me to take a hard look at my current business unit strategy and see how it fits into the larger corporate strategy.
Dr DP
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