top-rated free essay

Components of Strategy

By oovoone Sep 01, 2014 283 Words
Components of strategy
Professor Richard P. Rumelt described strategy as a type of problem solving in 2011. He wrote that good strategy has an underlying structure he called a kernel. The kernel has three parts: 1) A diagnosis that defines or explains the nature of the challenge; 2) A guiding policy for dealing with the challenge; and 3) Coherent actions designed to carry out the guiding policy.[6] President Kennedy illustrated these three elements of strategy in his Cuban Missile Crisis Address to the Nation of 22 October 1962:

1. Diagnosis: “This Government, as promised, has maintained the closest surveillance of the Soviet military buildup on the island of Cuba. Within the past week, unmistakable evidence has established the fact that a series of offensive missile sites is now in preparation on that imprisoned island. The purpose of these bases can be none other than to provide a nuclear strike capability against the Western Hemisphere.” 2. Guiding Policy: “Our unswerving objective, therefore, must be to prevent the use of these missiles against this or any other country, and to secure their withdrawal or elimination from the Western Hemisphere.”

3. Action Plans: First among seven numbered steps was the following: “To halt this offensive buildup a strict quarantine on all offensive military equipment under shipment to Cuba is being initiated. All ships of any kind bound for Cuba from whatever nation or port will, if found to contain cargoes of offensive weapons, be turned back.” [7]

Rumelt wrote in 2011 that three important aspects of strategy include "premeditation, the anticipation of others' behavior, and the purposeful design of coordinated actions." He described strategy as solving a design problem, with trade-offs among various elements that must be arranged, adjusted and coordinated, rather than a plan or choice.[6]

Cite This Document

Related Documents

  • Health Components

    ...Task 1 To help you improve your overall physical fitness, produce an information sheet that describes one method of assessing the main components of fitness i.e. flexibility, strength, BMI, speed, power and aerobic and muscular endurance. P1 Flexibility- The range of movement possible at joints The sit and reach test i...

    Read More
  • Component of Computer

    ...A computer system consists of mainly four basic units; namely input unit, storage unit, central processing unit and output unit. Central Processing unit further includes Arithmetic logic unit and control unit, as shown in the figure:. A computer performs five major operations or functions irrespective of its size and make. These are • it a...

    Read More
  • Strategy

    ...Whirlpool’s Success11 “Low-Cost” or “Low-Price” Strategy?12 Thompson and Strickland’s Low-cost Provider Strategy14 Internal Orientation of Cost Leadership Strategy14 DIFFERENTIATION STRATEGY15 Superiority of Differentiation over Cost Leadership Strategy16 Porter: Differentiation and High Market Share Incompatible17 Differentiation Co...

    Read More
  • Different Components of Strategy Management the road map that will take the company there. 2. Explain the concept of Porter’s generic strategies. Discuss cost leadership strategy, differentiation strategy and focus strategy with examples. According to Porter, there are three generic strategies to build sustainable competitive Advantage and they are: These three generic strategie...

    Read More
  • Porsche Strategy

    ...Executive Summary: Porsche is a reputable global manufacturer of economical sports car and is planning in expanding its operations in to SUV market. The strategy of Porsche has been the fine balance between externalizing the manufacturing of 75% of its components via contracts with suppliers, while maintaining core competencies in design, inter...

    Read More
  • business strategy

    ...Subject: Business Strategy written case study Student Name: Yani Li Topic: Q7, Constellation is one of Foster’s major competitors in the world alcoholic beverages market, what do you see as the relative strengths and weaknesses of these 2 major competitors? Introduction: Strength and weakness are the two major components which attached t...

    Read More
  • Strategy Formulation

    ...Strategy Formulation Objectives: Define strategy formulation Define the word strategy and formula and its purpose Understand the SWOT analysis and its relation to strategy formulation Learn the step by step strategy formulation Appreciate the importance of strategy formulation Define strategy formulation Strategy formulation:...

    Read More
  • Nonmarket Strategies

    ...Universidad de los Andes Business Faculty Strategy Session Considerations After reading carefully the article written by Martin (2010) and published in the Harvard Business review, we can appreciate than in the past decades, and throw real examples of success in the business world, it has become popular the idea that execution is more import...

    Read More

Discover the Best Free Essays on StudyMode

Conquer writer's block once and for all.

High Quality Essays

Our library contains thousands of carefully selected free research papers and essays.

Popular Topics

No matter the topic you're researching, chances are we have it covered.