Book

Elements of Strategy

A Pocket Guide to the Essence of Successful Business Strategy

Mark Daniell

Palgrave Macmillan, 2006

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Although far too many strategic plans end up in back rooms collecting dust, strategic planning should not be an ivory-tower exercise. Indeed, to have a viable, competitive future, your company must set corresponding goals and make realistic plans to achieve them. Mark Daniell’s knowledge-packed, brief (a scant 100 pages) book on strategy is a valuable guide for corporate planners who are developing strategic blueprints to achieve long-term goals. getAbstract recognizes the inherent value of well-planned pocket guides that efficiently summarize vital, complex business topics in a digestible format, complete with handy checklists and other easily accessible data. Daniell’s superbly organized book is exactly this kind of worthwhile guide.

Summary

The 27 Elements of Strategy

Every organization needs a well-conceived, goal-oriented, structured strategy that it can implement realistically. Your strategy should align the objectives of each department or endeavor. A comprehensive strategy covers 27 basic elements, in these areas:

Learning from History

The process of strategic planning has changed over time.

“Missing elements of traditional strategy” – Good strategy must be comprehensive, flexible, creative and appropriately aligned. It should fully engage and motivate your workforce, and reflect your sense of corporate responsibility. Replace old, impractical strategies with useable approaches that offer a measurable impact.
“Traditional models of strategy” – Look beyond formerly popular but nevertheless limited or flawed models to develop your company’s strategic plans.
“The 7S's Model” – This McKinsey standard is still a worthy checklist:

Strategy – Decisions taken to gain corporate advantage.
Structure – The overall plan to identify primary tasks and duties.
Systems – Processes and procedures...

About the Author

Mark Daniell is an attorney and corporate strategy consultant who appears regularly on CNN, CNBC and the BBC. He has held leadership jobs in investing, international banking and consulting.

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v. k. 7 years ago

excellent summary