BMGT 495 Lecture Notes - Lecture 1: Henry Mintzberg, Complex Interdependence, Ikea

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 495
• Professor: Protiti Dastidar

Document Summary

Low cost provider, global, customer service, innovation, regional acquisitions, first mover. None of these are strategies, they"re all actually tactics, goals, and objectives. Goals and strategy are often confused being that strategy is a company buzz word that makes mission statements sound more impressive: strategy is derived from stategos the art of the general. The art of war is the great masterpiece of strategy. Hannibal"s strategy is to bring hidden strengths against the weaknesses of the enemy at the point of attack to achieve his goal, not beat rome that"s the goal. General is responsible to work with multiple units to achieve that goal through high level orchestration and vision. Think about the whole and coordinate/sacrifice the necessary pieces. Must develop a set of complex tactics and activities that lead to a victory: 4 questions of strategy that require clear and compelling answers. How do we sustain unique value: ikea strategy.