Contents

Introduction

1 Overview

Why have a strategy?

What is strategy?

The benefits of strategy

Where does strategy live?

The living company

New world, new approaches

Real life: New strategies at BP

About this book

2 The world yesterday

A little history

The value chain

Added value

Competition

Competitive advantage

Porter's five forces

Society

The big picture

Winning the battle

3 The world today

A personal perspective

What's wrong with this picture?

The trinity of transformation

New choices

Who, what and how

Customers

Market segments

Products and services

Real life: Value innovation at ING Direct

Value innovation

Co-creation

Making innovation happen

4 The business

New connections

The value net

Supplier connections

Resource power

Key resources

Managing resources

Stock and flow

Resource questions

Core competencies

Unbundling

Real life: Managing key resources at Komatsu

Alliances

Real life: Alliances and co-creation at Tesco

Committing resources

5 The people

People are the business

From value to values

Culture and strategy

What can go wrong

Purpose

Harmonising value preferences

Purpose and profit

Real life: Purpose at The Body Shop

Frames

Asking 'why?'

Motivation

6 The world tomorrow

What the future holds

Endless transformation

Questions for strategic managers

Why do we work?

Contacts