Chapter 13 Summary
CHAPTER 13 SUMMARY
“Analyzing Strategic Management Cases” The best way for strategic managers and business leaders to do their jobs in a more efficient manner is by reading cases. These cases simulate real world experiences that these leaders will have to inevitably face one day. Case Analysis covers complex strategic management concepts – such as environmental analysis, process of decision making, and implementing strategic actions—by putting managers in middle of a scenario and challenging them to figure out what to do. Analyzing these cases will give the managers the ability to evaluate business situations critically. Chapter 13 shows how these three skills – differentiate, speculate and integrate - will be key to successfully analyzing the cases presented. Good managers will develop and actually use the following tools for future complex business problems. To Differentiate a problem means that there will be many different elements of a situation and they will need to be evaluated all at once. Make sure to distinguish between bad and good information as well as understanding that problems are often complex and multilayered. To Speculate a problems means that strategic managers need to be able to imagine different scenarios or contemplate the outcome of a decision. This will aid the analysis and deal with the uncertainty matter since many cases provided insufficient information. To Integrate a problem means that the managers need to comprehend how all the factors that influence an organization will interact. By simultaneously making distinctions, envisioning the whole and staying focused in the present will make strategic managers very effective. Strategic managers also need to get the most from their case analysis, even small cases. This will indeed expand their horizons beyond concepts and seek insights from their own reservoir of knowledge. They must keep and open mind and avoid letting emotional responses to another person’s style or opinion keep
“Analyzing Strategic Management Cases” The best way for strategic managers and business leaders to do their jobs in a more efficient manner is by reading cases. These cases simulate real world experiences that these leaders will have to inevitably face one day. Case Analysis covers complex strategic management concepts – such as environmental analysis, process of decision making, and implementing strategic actions—by putting managers in middle of a scenario and challenging them to figure out what to do. Analyzing these cases will give the managers the ability to evaluate business situations critically. Chapter 13 shows how these three skills – differentiate, speculate and integrate - will be key to successfully analyzing the cases presented. Good managers will develop and actually use the following tools for future complex business problems. To Differentiate a problem means that there will be many different elements of a situation and they will need to be evaluated all at once. Make sure to distinguish between bad and good information as well as understanding that problems are often complex and multilayered. To Speculate a problems means that strategic managers need to be able to imagine different scenarios or contemplate the outcome of a decision. This will aid the analysis and deal with the uncertainty matter since many cases provided insufficient information. To Integrate a problem means that the managers need to comprehend how all the factors that influence an organization will interact. By simultaneously making distinctions, envisioning the whole and staying focused in the present will make strategic managers very effective. Strategic managers also need to get the most from their case analysis, even small cases. This will indeed expand their horizons beyond concepts and seek insights from their own reservoir of knowledge. They must keep and open mind and avoid letting emotional responses to another person’s style or opinion keep