Understanding Emergent Strategy and Strategic Drift in Business
Explore the concept of emergent strategy, which emphasizes adapting to uncertain futures by recognizing unintended patterns. Learn about Henry Mintzberg's perspective and the risks of strategic drift when a company's strategy becomes disconnected from its environment. Delve into case studies of innovative brands like Ceylinco General Insurance and the transformation of traditional one-day cricket to 20/20 cricket for entertainment.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
An emergent view Emphasize the uncertainty of the future and suggest that setting out identify purpose and a single strategy and then develop a complete strategic plan may be fruitless task
What is emergent perspective to strategy A set of certain consistent actions that form an unintended pattern that was not initially anticipated or intended in the initial planning phase. For example, although unintended, adopting an emergent strategy might help a business adapt more flexibly to the practicalities of changing market conditions. Strategy Emerged outside the formal plan /Unintended pattern recognizing the changing conditions More planned approached/ Intended strategy
Strategic drift Strategic happens when organization strategy is no longer relevant to the external environment facing it Intended strategy through Deliberate planning process Environment forces ????? Strategic drift
What if you don t redefine your business purpose Strategic drift
Slow response to the market led to strategic drift
CASE STUDY 01- Ceylinco General Insurance Most admired motor insurance brand Most Innovative Motor Insurance solution- 2006 Brand Finance Ranking 2018 Conventional claim settlement process- CSLT I MONTH Brand proposition Hazel free Motor Insurance solution CONSUMER INSIGHTS Life style changes of the target consumer BRAND IMPACT 48% Market Share CUSTOMER PAIN POINTS
CASE STUDY 02- Redefining one day cricket Traditional ONE day cricket 8 hours, 100 overs Consumer Insight Redefine as a game of entertainment Brand proposition 20 /20 cricket International cricketers represent teams Bollywood stars as brand icons Cheer girls Brand Impact IPL Brand value USD 5.3 billon
CASE STUDY 03- Redefining traditional taxi service Traditional taxi service was not changed in last 45 years Consumer Insight Convenience taxi service Brand proposition Mobile taxi App What is next???
Question 01 March 2017 Perspective and emergent strategy can be contrasted by adapting Mintzberg s analogy. Explain the perspective approach to strategy formulation vs emergent approach to strategy formulation. What is the applicability of perspective rational approach over emergent view? Examine the applicability of the emergent approach to strategy formulation in today business context. ( 10 marks) Organization growth can be accelerated either organically or inorganically way. Explain the organization strategic directions as discussed by Igo Ansoff (1965) and expansion policy matrix. (10 Marks)
