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Strategic Renewal: Becoming a High-Performance Organization - Softcover

 
9780130219190: Strategic Renewal: Becoming a High-Performance Organization
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This book focuses on the critical aspects and qualities that high performance companies share, irrespective of industry, and examines how these qualities can be used as a basis for strategic renewal, revitalization, and high performance. Strategic Renewal is an excellent reference on crafting strategy and organizational change for high performance. Defining High Performance and Strategic Renewal. Globalization. Workforce Diversification Mobility. Information Technology. Innovation. Strategic Leadership. Operational Excellence. Business Integration. For corporate managers in all industries.

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From the Inside Flap:
Preface INTRODUCTION TO STRATEGIC RENEWAL

What makes a company great? Is there a formula or a standard model for creating a high-performance organization? What separates the high-performance companies from the also-rans? Can high-performance be acquired, or is it developed, and if acquired or developed, what are the best ways of doing so? These are some of the ageless questions that managers and leaders must always try to answer.

There is something both substantive and elusive about extraordinary business performance that transcends ordinary measurements such as financial results. Great companies such as Merck, DaimlerChrysler, Disney, Federal Express, Southwest Airlines, General Electric, Intel, Microsoft, and NEC did not become the dominant forces in business by just having good products and using slick marketing campaigns. Obviously, products and marketing are essential to success; one cannot be in business without a product or the ability to sell it. But products can be and are easily imitated by competitors. Similarly, there is nothing strategic about pricing or quality that cannot be matched and bettered by a competitor. No, the great performing companies have something more in common; they have qualities and behaviors that distinguish them from the others.

Visit any Disney theme park and you will find it to be an immaculately clean and safe place: it's the Magic Kingdom. Buy a GE product and you will find it impeccably built. Call GE for service and be prepared for a rapid response and high-quality work, the first time. The next time you are flying at 0.7 times the speed of sound at 35,000 feet on a Boeing aircraft, chances are GE made the engines or a large percentage of the componentry. Ask Federal Express where your parcel is, and they will tell you where it is, who has it, when it was delivered, and who received the package. Finally, how is it that Mercedes-Benz and BMW were able to come roaring back and put the Japanese on their heels in the luxury car market, and what did Chrysler and Harley-Davidson do that enabled them to beat the long odds of surviving?

The hunt for the secret to high performance has been on for many years. In Built to Last, authors James Collins and Jerry Porras construct a persuasive argument for core values. According to them, core values are pervasive prerequisites for enduring success. It is clear that they are. No high-performance organization, winning sports team, or extraordinary individual can achieve that status without conviction and dedication to a set of values along with the competencies and resources to advance them. Nichols Imparato and Oren Harai in Jumping the Curve argue that it is innovation that can make a company great. History proves that innovation is essential to survival. A company must be in a constant state of innovating its process and products and reinventing itself as well as its markets if it is to remain competitive.

In Value Migration, Adrian Slywotzky argues that it is the anticipation and recognition of where the "value" of an industry is migrating that can lead to greatness. Dr. Slywotzky is correct, but as the "Great One," NHL Hall of Fame member Wayne Gretzky is fond of saying about hockey, "It's not where the puck has been, it is where the puck is going to be." Foreseeing or anticipating where the value is going is fundamental to high performance. Nor does it matter how many products or SKUs a company may have or sell, or whether it has won the Baldrige or Deming Awards and is ISO certified. Those are interesting factors and, under certain conditions, prerequisites for doing certain types of transactions and business, but they are not the decisive elements of high performance and strategic dominance. A small company in a slow- or low-performing industry can be a high performer in the same significant way as, for example, a huge company such as Intel is in the fast and wild high-technology industry.

The focus of this work is on the critical aspects and qualities that great performing companies share irrespective of their industries. The following chapters will explore how those common qualities can be used as a basis for strategic renewal, revitalization, and high performance. In developing this work, over 40 different companies in very different industries were studied, and over 24 senior leaders and CEOs were interviewed and surveyed. In a sense, these great companies helped to define the term high performance and contributed to five significant conclusions about the relationship between high performance, strategy formulation, and strategic renewal:

The high performers share five common strategic traits and qualities, regardless of industry, age, or size. These attributes, or strategic pillars, include information technology, innovation, leadership, knowledge, and operational excellence and agility. If a company has integrated strategies for these five pillars, great products, profits, and market position will follow. The great performers understand that enormous leverage comes from the selective integration of the five pillars of strategic renewal and high performance. All five pillars are important and are continuously cultivated by the high performers. The high performers deliberately architect their strategies and organizations for leverage, high performance, and success. They strive for organizational and operational integration and collaboration with selected partners and, at times, competitors. The dynamics of competing is changing at unpredictable and unprecedented rates. The high performers understand that the traditional methods of strategic planning that stress industry structural analysis are no longer as effective as they once were. Today, suppliers are partners, competitors are collaborators, customers are vocal and engaged, and employees have options. The high performers recognize that size and presence are important but that the sources of competitive advantage, which have traditionally included size, industry positioning, leverage with suppliers and customers, and geographical location, have yielded to new sources driven by agility and the convergence of innovation, knowledge, and technology.

In the subsequent chapters of this book, we explore these in greater detail and also examine three major forces that are shaping the competitive arena of the future: globalization, information technology, and workforce diversification and mobility. OPTIMIZING YOUR USE OF STRATEGIC RENEWAL

The objective of Strategic Renewal is to explore the dynamics of strategy formulation and organizational change with the goal of creating high performance and revitalizing the organization. Unlike more traditional approaches, the intent of Strategic Renewal is not to provide a formula for strategy or prescriptive process for strategy development. The reality is that there is nothing strategic about prescriptive frameworks or the canned strategy models that are offered by management consultants. Rather, Strategic Renewal presents a "point of view" and a general blueprint with deep and contemplative insights into the process and thinking of what it means to craft a strategy for high performance and strategic revitalization.

The structure and design of this book has been developed to serve as either primary or supplemental reading material in advanced elective courses on strategy, reengineering, and organizational change. Strategic Renewal can be used not only in the academic study of strategy, but it has practical applications in the business world in leading organizations to higher levels of performance. Additionally, it can serve as a reference manual, a general management guide, as well as a primary book on crafting strategy and organizational change for high performance. The resulting product is a book that will help leaders, researchers, and students of strategy in understanding what it takes to be a high-performing company and how to craft strategies for high performance, economic dominance, and a successful strategic change.

Strategic Renewal is written for the student and professional practitioner of strategic planning and organizational performance and change. Let's consider some of the ways that you might optimize your use of this work. Specifically:

If you are a student or a teacher of management and strategy, you will find this work to be a different type of a textbook. The ideas and observations presented in Strategic Renewal are offered as an alternative and in contrast to the traditional academic thinking and approach to strategy. Strategic Renewal seeks to establish a broader, more complete treatment of strategy and change based on the experiences of high-performing companies. Ultimately, the emphasis is on the common characteristics of high performance as shared by different companies, irrespective of their industries. The result is a pragmatic and effective contrast designed to stimulate thought and discussion in the classroom. If you are a student of management and strategy, this work will advance and complement your understanding of strategy formulation and change. If you are an executive running a business or a manager aspiring to lofty positions of leadership in a business organization, you can use this book to enhance your own thinking, test your own organization, and apply its insights and lessons to elevate your organization's performance. The concepts and principles described in this text present valuable insights for interpreting market forces, assessing opportunities, forming strategic policy, and establishing a renewal strategy for your organization. If you are responsible for a governmental service or a not-for-profit organization, you will benefit from adapting the key thoughts and concepts in this book for your own uses and constituents.

There are many other applications and uses for Strategic Renewal. I invite you to experiment, learn, and adapt it for use in the classroom, for formal training in private and public sectors, and for formulating innovative and effective ways of generating and sustaining high performance and strategic renewal.

Strategic Renewal includes 10 chapters, exhibits, an Acknowledgment, and References. Each chapter provides a comprehensive discussion of the subject matter, numerous quotes from business and thought leaders, case examples, extensive anecdotal matter, critical thinking and discussion questions, and a summary of key points. In this work, you will find over 40 criteria to use in assessing organizational behavior for high performance. The critical thinking and discussion questions are designed to help guide and stimulate your own thoughts and debate on these fascinating and important subjects. The Reference section contains a comprehensive bibliography with citations not only from books and periodicals but also selected URL addresses.

The challenge of understanding what it takes to be a high-performing company and to establish high performance and strategic renewal as strategic doctrines has been addressed. Companies that continually identify and understand such imperatives and how the five pillars of strategy can be used will achieve superior performance and outstanding competitive advantage; those that do not are destined to become footnotes in business cases.

Michael A. Mische
Los Angeles, California
2000

About the Author:

MICHAEL A. MISCHE, a member of the faculty at the University of Southern California's Marshall School of Business where he teaches Strategic Renewal and IT Strategy in the MBA program, Michael Mische has over 20 years of experience in consulting and preparing MBA students to be next generation leaders. As president of the Synergy Consulting Group, Inc. and a former principal of KPMG and A.T. Kearney, Professor Mische has consulted to prominent management consulting firms and to CEOs and COOs in global companies. He has also testified as an expert witness before legislative and judicial bodies. He is the author of four books, including The 21st Century Organization: Reinventing Through Reengineering, with Warren Bennis. In addition he is a consulting editor for a series of books on Systems Integration and has recently completed three major research projects on Strategic Leadership, Knowledge Management, and Innovation. He holds degrees from New York University's Stern School of Business, where he graduated with honors, and Golden Gate University in San Francisco. He can be reached via electronic mail at mamische@aol.com

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  • PublisherPrentice Hall
  • Publication date2000
  • ISBN 10 0130219193
  • ISBN 13 9780130219190
  • BindingPaperback
  • Edition number1
  • Number of pages300

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