Summary Strategy Processes and Decisions

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Table of Contents

Session 1 Strategic thinking4
Cognitive activities4
Limitations in cognitive abilities5
Cognitive maps5
Paradox of logical and creative thinking6
Rational and generative reasoning perspectives6
Article 1: “the concept of corporate strategy”8
Article 2: “The mind of the strategist”8
Article 4: “decision –making, it’s not what you think”8

Lecture 2 – Organizational Purpose (read main parts of chapter 11 as well)9 General Overview9
The functions of mission and the link between mission and vision10 Stakeholder versus shareholder view11
Article: How companies define their mission13
Tips to the exam (Fred’s word):14

Lecture 3 – Values and decision- making16
Virtue ethics – corporate core values16
Deontological ethics/duty – rule-based management17
Teleological (consequential) – utility theories, management by objectives, MCDM, balanced scorecard, stakeholder theory17 Stakeholder theory18
Shareholder theory18
Immediate and expected emotions18
Generic value system19
Virtue values – core values - core values of the firm19 Duty values - standards and procedures – protected values19 Consequential values - stakeholder values – created values19 Article: Structuring organizational value statements21

Lecture 4 – Rationality22
Four dimensions of rationality22
Von Neumann-Morgenstern's axioms and utility23
The expected utility theorem23
An example of a utility function23
Measuring a utility function24
The shape of the utility function24
Insurance versus betting24
Multi criteria decision analysis24
Model structure25
Goal hierarchy25
Decision criteria25
Willingness to pay principles26

Lecture 5 – strategy development processes in organizations27 Strategy formation27
Strategy formation activities27
Strategy formation model explained28
Application of the paradox: In the formal approach the strategists are at the top like CEO and board of directors, and lower management would come in in the realizing part.29 In the emergent approach strategy is open, everyone is a strategist as strategy is something we do day to day.29 Strategy formation roles29

Deliberate strategizing advantages29
Strategy emergence: advantages29
Strategic workshops – more here?30
Paradox: Deliberateness vs. emergence30
Two perspectives on strategy formation31
Article: Escalating Indecision. Denis et al, 201132
The case32
Theory: Network of indecision32
Article – Can strategic planning make strategy more relevant and build commitment over time? The case of RACC (2008)34 The case34

Lecture 6 – Strategy Development in Knowledge-intensive contexts 135 Knowledge intensive firms35
Characteristics of a profession and professionals35
Knowledge intensive VS Professional Services Firm36
Article 1 - Introduction: Knowledge management in professional services firms. Empson, 2001.37 Article 2 – Heterogeneity in professional services firms. Malhotra, Morris, 2009.38 The nature of knowledge38

Jurisdiction – meaning extent of power!39
(The author also mentions geographical jurisdictions – read up on this if necessary) Relations with clients39 Article 3 - What is a professional services firm? Toward a theory and taxonomy of knowledge-intensive firms. Nordenflycht, 201040

Lecture 10 – Strategy as Practice42
Article 1 – A Micro Perspective (Johnson et al 2003)42
The activity-based view42
The benefits of an activity-based view42
Challenges of the activity-based view:43
Article 2 – Strategic practices as enablers and disablers of championing activity. Mantere, 2005.43 Introduction43
Strategy as practice paradigm43
Strategic champions43
Some definitions from the article43
What practices enble/disable championing?44
The three kinds of practice44
Article 3 -...
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