Open Strategy Mastering Disruption from Outside the C-Suite
by Stadler, Christian; Hautz, Julia; Matzler, Kurt; von den Eichen, Stephan Friedrich; Hamel, GaryWe're Sorry
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Summary
Why are some of the world’s most successful companies able to stay ahead of disruption, adopting and implementing innovative strategies, while others struggle? It’s not because they hire a new CEO or expensive consultants but rather because these pioneering companies have adopted a new way of strategizing. Instead of keeping strategic deliberations within the C-Suite, they open up strategic initiatives to a diverse group of stakeholders—front-line employees, experts, suppliers, customers, entrepreneurs, and even competitors. Open Strategy presents a new philosophy, key tools, step-by-step advice, and fascinating case studies—from companies that range from Barclays to Adidas—to guide business leaders in this groundbreaking approach to strategy.
The authors—business-strategy experts from both academia and management consulting—introduce tools for each of the three stages of strategy-making: idea generation, plan formulation, and implementation. These are digital tools (including strategy contests), which allow the widest participation; hybrid digital/in-person tools (including a “nightmare competitor challenge”); a workshop tool that gamifies the business model development process; and tools that help companies implement and sustain open strategy efforts.
Open strategy has an astonishing track record: a survey of 200 business leaders shows that although open-strategy techniques were deployed for only 30 percent of their initiatives, those same initiatives generated 50 percent of their revenues and profits. This book offers a roadmap for this kind of success.
Author Biography
Table of Contents
Series Foreword xvii
Introduction: Win with Open Strategy xix
1 Traditional Strategy Come Undone 1
2 Are You Truly Ready to Open Up? 21
3 Design Your Open Strategy Process 41
4 Tweak Your Open Strategy Initiative to Allow for Secrecy 59
5 Harness the Wisdom of Crowds 75
6 Peer into the Future 97
7 Disrupt Yourself before Others Do 121
8 Develop Killer Business Models 145
9 Use the Crowd to Choose Better Strategies 163
10 Execute Better 185
Epilogue 205
Appendix A: Recommended Reading 211
Appendix B: The IMP Story 213
Notes 215
Index 251
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