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SUMMARY by [Author’s Name] 07 June 2012 Summary Scanning the Periphery According to Day and Schoemaker (2005), companies should be more attentive to the challenges faced in and sent from the periphery zones: these are the zones which are difficult to see but can sometimes provide information and knowledge crucial for the organization’s long-term success…
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Download file to see previous pages... This being said, Day and Schoemaker (2005) develop a strategic eye exam that will help managers to examine the most problematic strategic areas. First, the authors recommend defining the scope of the company’s peripheral vision. Neither too much nor too little peripheral vision is good for the company: those with too much peripheral vision can end up being too neurotic to deal with change. Second, Day and Schoemaker (2005) proceed to the questions every manager should ask while analyzing companies’ peripheral vision: these questions relate to companies’ past and present, as well as future prospects and ideas. Finally, the authors suggest that the peripheral vision of any company can be strengthened. The article can readily serve the source of valuable advice in the development of useful peripheral vision and thinking within organizations. Day, GS & Schoemaker, PH 2005, ‘Scanning the periphery’, Harvard Business Review, November, pp.135-148. Are You Sure You Have a Strategy? Strategy is a buzzword in contemporary organization studies, but few organizations have a clear understanding of what strategy really means: in this article, Hambrick and Fredrickson (2005) develop a framework for strategy design that includes five basic elements. According to Hambrick and Fredrickson (2005), researchers have developed abundance of various strategic analysis frameworks, but all these frameworks ignore the fundamental question of what strategy is and how it works. As a result, it is not clear how these strategic frameworks should be applied and how they can benefit organizations. In this situation, strategic managers and business owners create confusion and reduce their professional credibility (Hambrick & Fredrickson 2005). This is why the authors of this article propose their vision of strategy and its elements. Based on the article, the main elements of strategy include Arenas, Vehicles, Differentiators, Staging, and Economic Logic. For each element, Hambrick and Fredrickson (2005) provide a question every company should ask in the process of formulating its strategy. For example, in terms of the Arenas element, executives should first decide where exactly, in what arenas, their business will operate (Hambrick & Fredrickson 2005). The substance of any strategy is made of arenas, vehicles, and differentiators, which also require that executives define the main stages of strategy implementation and develop a clear idea of how exactly they want to generate profits (Hambrick & Fredrickson 2005). To support their claims, the authors provide a number of case studies. These case studies illustrate the strengths of the proposed strategy framework. Finally, Hambrick and Fredrickson (2005) conclude that strategy is not about planning but about informed and well-integrated choices and the proposed framework can well serve the basis for the development of the major strategic initiatives. Hambrick, DC & Fredrickson, JW 2005, ‘Are you sure you have a strategy?’, Academy of Management Executive, vol.19, no.4, pp.51-62. The Irrational Side of Change Management In this article, the authors identify and discuss nine insights into the way human nature becomes a barrier to implementing the four conditions of behavioral change and fostering positive organizational shifts. Also, the authors show how different companies have succeeded in overcoming these obstacles, ...Download file to see next pagesRead More
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