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Hotline:4006-026-018Q&AEmail:ServiceEmail:FollowusonFindusonWeChat:JoinusonQQFormoreinformationaboutplesevisithttp://微信电话：4006026018地址：北京市海淀区北三环西32号恒润国际大厦1202Revision1.LevelsofRevision1.Levelsofstrategy-(a)Corporate(b)Business(c)Functional12.Strategydevelopmentprocess–Deliberatestrategyisalso2.Strategydevelopmentprocess–Deliberatestrategyisalsocalledrationally-plannedstrategy.Itistheoutcomefromaformalstrategicplanningprocess.Thebusinessplanisreviewedregularly,andamendedifnecessary.Emergentstrategyisstrategythatisnotformallyplanned,butwhichemergesinresponsetounforeseendevelopmentsandopportunities.Ideasforanemergentstrategymightcomefromemployeesorfairlyjuniormanagers,ratherthanseniormanagement.However,onceanewstrategyhasemerged,theentityappliesthestrategyconsistently.Incrementalstrategyisstrategythatisdevelopedslowlyovertime,bymakingsmallchangestoexistingstrategy.Changestostrategyarenotlargeorfar-reaching,becausethemanagementoftheentitycannotseetheneedforanysubstantialchanges.3.Strategylenses–Design.Thisistheviewthatstrategyformulationisarational,logicalprocesswhereinformationiscarefullyconsideredandpredictionsmade.Strategicchoicesaremadeandimplementationtakesplace.Experience.Thisistheviewthatfuturestrategiesarebasedonexperiencesgainedfrompaststrategies.Thereisstronginfluencefromthereceivedwisdomandculturewithinanorganizationabouthowthingsshouldbedone.Ideas.Thisistheviewthatinnovationandnewideasarefrequentlynotthoughtupbyseniormanagersatthecorporateplanninglevel.Rather,newideaswilloftenbecreatedthroughoutadiverseorganisationaspeopletrytocarry.2Ideally,managersshouldtrytolookatstrategyIdeally,managersshouldtrytolookatstrategythroughallinthreelensesturn.4.PESTELanalysis–PESTELanalysisisastructuredapproachtoanalysingtheExternal/Macroenvironmentofanentity.Theinfluences(currentinfluencesandpossiblefutureinfluences)ofenvironmentontheentityaregroupedintocategories.Thereenvironmentalinfluence:aresixPoliticalenvironmentconsistsofpoliticalfactorsthatcanhavebusinessentitiesandotherorganisations.Investmentdecisionsinfluencedbyfactorssuchas:a.stabilityofthepoliticalsysteminparticularastronginfluencebycompaniesb.threatofgovernmentactiontonationaliseindustryandseizeownershipfromprivatec.warsandcivilunrestd.threatofterroristactivity3EconomicenvironmentconsistsofeconomicEconomicenvironmentconsistsofeconomicinfluencesonanentityandeffectofpossiblechangesineconomicfactorsonfuturebusinessprospects.Factorsintheeconomicenvironmentinclude:a.therateofgrowthintheeconomyb.therateofinflationc.thelevelofinterestrates,andwhetherinterestratesmaygouporfalld.foreignexchangerates,andwhetherparticularcurrenciesarelikelytogetweakerorstrongere.unemploymentlevelsandtheavailabilityofskilledorunskilledworkersernmenttaxratesandgovernmentsubsidiestoindustryg.theexistenceornon-existenceoffreetradebetweencountries,andwhethertradebarriersmayberemovedh.theexistenceoftradingblocsofcountries,suchastheEuropeanSocialandculturalenvironment:Anentityisaffectedbysocialandculturalinfluencesinthecountriesorregionsinwhichitoperates,andbysocialcustomsandattitudes.Someinfluencesaremoresignificantthanothers.Factorsinsocialandculturalenvironmentincludethefollowing:a.Thevalues,attitudesandbeliefsofcustomers,employeesandthegeneralpublic.b.Patternsofworkandleisure,suchasthelengthoftheworkingweekandpopularviewsaboutwhattododuringleisuretimec.Theethnicstructureofd.Theinfluenceofreligionandreligiousattitudesinsocietye.Therelativeproportionsofdifferentagegroupsinsociety.4Technologicalenvironmentconsistsofscienceandtechnologyavailabletoanorganisation(anditscompetitors),andchangesanddevelopmentsinscienceandtechnology.Someaspectsoftechnologyandtechnologicalchangeaffectvirtuallyallorganisations.DevelopmentsinITandcomputertechnology,includingtheInternet,arethemostobviousexample.BusinessentitiesthatdonotrespondtochangesinITandcomputerisationrisklosingtheirshareofthemarkettocompetitors.ItmightalsoaffectparticularTechnologicalenvironmentconsistsofscienceandtechnologyavailabletoanorganisation(anditscompetitors),andchangesanddevelopmentsinscienceandtechnology.Someaspectsoftechnologyandtechnologicalchangeaffectvirtuallyallorganisations.DevelopmentsinITandcomputertechnology,includingtheInternet,arethemostobviousexample.BusinessentitiesthatdonotrespondtochangesinITandcomputerisationrisklosingtheirshareofthemarkettocompetitors.Itmightalsoaffectparticularindustries.Scientificdevelopmentsinfoodanddrugs,forexample,arehavingacontinualimpactoncompaniesintheseindustries.Forstrategicplanning,companiesneedtobeawareofcurrenttechnologicalchangesandthepossiblenatureofchangesinthefuture.Technologycouldhaveanimportantinfluenceoninvestmentdecisionsinresearchanddevelopment,andinvestmentinnewtechnology.EcologicalForbusinessentitiesinsomeindustries,environmentalfactorshaveanimportantinfluenceonstrategicplanninganddecision-making.Theyareparticularlyimportantforindustriesthatare:a.subjecttostrictenvironmentallegislation,ortheriskofstricterlegislationinthefuture(forexample,legislationtocutlevelsofatmosphericpollution)b.facedwiththeriskthattheirsourcesofrawmaterialswillbeusedup(forexample,partsofthefishingindustryandtimberproductionindustry)c.attheleadingoftechnologicalresearch,suchasproducersgeneticallymodified5LegalenvironmentconsistsofthelawsandregulationsaffectingLegalenvironmentconsistsofthelawsandregulationsaffectinganentity,andthepossibilityofmajornewlawsorregulationsinthefuture.Lawsandregulationsvarybetweendifferentcountries,althoughinternationalregulationisacceptedincertainareasofcommercialactivity,suchasbanking.Strategicdecisionsbyanentitymightbeaffectedbylegalconsiderations.Fora.aninternationalcompanymightlocatesomeoperations,fortaxreasons,inacountrywithafavourabletaxsystemb.decisionstorelocateoperationsfromonecountrytoanothercouldbeaffectedbythedifferencesinemploymentlawinthetwocountries,orbynewemploymentc.inmanyindustries,companiesarefacedwithenvironmentallegislationorandsafetylegislation,affectingthewaysdesignoftheproductstheymakeandsell5.Porter’sDiamond–6Factor‘Factors’aretheeconomicfactorsofproduction–land,Factor‘Factors’aretheeconomicfactorsofproduction–land,labour,(equipment)andrawmaterials.‘Factorconditions’areconditionsmarketwithregardtooneormoreofthesefactorsofproduction.aFactorconditionsinacountrycanbedividedintotwobasicfactorsadvancedAcountry’sindustryismademorecomparedcountries,whenthereisstrongcompetitionandinnovationinrelatedandsupportingindustries.Whensupportingindustriesarehighlycompetitive,costsarereducedandinnovationoccurscontinually.Someofthebenefitsoflowercostsandinnovationinasupportingindustry(orrelatedindustry)arepassedontobusinessentitiesinindustriesthatthesupportingindustryserves.7DemandconditionsinthehomePorterarguedthatstrongdemandinlocalmarkets,particularlywhenthisdemandisDemandconditionsinthehomePorterarguedthatstrongdemandinlocalmarkets,particularlywhenthisdemandissophisticatedanddiscerningcanhelptomakelocalfirmsmorecompetitiveinglobalmarkets.a.Whenlocaldemandisstrong,localfirmswillgivemoreattentionthantheirforeigncompetitorstotheneedsofthelocalcustomers.b.Thiswillhelptomakelocalfirmsmoreinnovativeandcompetitive.c.Whenlocalfirmsselltheirproductsinglobalmarkets,theinnovationandcompetitivenesscreatedinlocalmarketswillhelpthemtosucceedd.Innovationinlocalmarketswillhelplocalfirmstoanticipatechangesinglobaldemand.Strategy:FirmsandtheirownersmighthavedifferentideasaboutinvestmentInfrastructure:Insomecountries,themanagementstructureinlargercompaniesisformalandhierarchical.Inothercountries,manycompaniesarefamily-runbusinesses.Thismightgivecompaniesinsomecountriesacompetitiveadvantageinsomeindustriesbutnotothers.Rivalrybetweenlocalfirmsisalsoanimportantfactorinmaintainingnationalorregionalcompetitiveadvantage.Thisisbecauserivalryforcesproductstoinnovate,andtokeeponlookingforwaysofmeetingcustomerneedsbetterthattheir8Porterarguedthatthefourelementsinthediamondareallimportantforcreatingnationalcompetitiveadvantage,becausePorterarguedthatthefourelementsinthediamondareallimportantforcreatingnationalcompetitiveadvantage,becausetheycreatetheconditionsthatresultincompetitiveadvantage:theavailabilityofsuitableresourcesandinformationthatfirmscanusetodecidehowtoinvesttheresourcesandskillsthatareavailabletothemgoalsofindividualsandpressureoncompaniestoinnovateand competitivea.Theycancreateaneducationandtrainingappropriatelabourskillsandknowledge.systemthatb.Theycanhelpcompaniestoraisetheirperformancelevelsbyenforcingstrictproductstandards.c.Theycancreateearlydemandfornewandpurchasingtheproductsthemselves.d.Theycanstimulaterivalrybetweenlocalfirmstrustlegislation.advancedproductsbyenforcingstrict9LinearLineara.Processesinvolvedprovideandanalyserelevantinformation.b.Emphasisesthevariables.c.Betterthand.Usefulwhereitisimportanttotakealong-termviewofstrategy,wheretherearealimitednumberofkeyfactorsinfluencingthesuccessofastrategyandahighuncertaintyaboutsuchinfluences.a.Rarelyaccurateinpredictingultimateb.Useofstatistical/mathematicaltechniquesmayimplyunachievablec.Inherentlimitationsoftechniques7.TheFiveForces–7.TheFiveForces–NewcompetitorswillenterthemarketandaddtothecompetitionoftheNewentrantsmightbeattractedbythehighprofitsearnedbycompetitorsintothemarket,orbythepotentialformakinghighprofits.BarrierstoEconomiesofCapitalinvestmentAccesstodistributionTimetobecomeSwitchingGovernmentThereisathreatfromsubstituteproductswhencustomerscanswitchfairlyThereisathreatfromsubstituteproductswhencustomerscanswitchfairlyeasilytobuyingalternativeproducts(substituteproducts).Thethreatfromsubstitutesvariesbetweenmarketsandindustries.Whentherearesubstituteproductsthatcustomersmightbuy,firmsmustmaketheirproductsmoreattractivethanthesubstitutes.Competitionwithinamarketorindustrywillthereforebehigherwhenthethreatfromsubstituteproductsishigh.Supplierscanexertbargainingpoweroverparticipantsinanindustrybythreateningtoraisepricesorreducethequalityofpurchasedgoodsorservices.Powerfulsupplierscantherebysqueezeprofitabilityoutofanindustryunabletorecovercostincreasesinitsownprices.’Bargainingpowerofsuppliersmightbestronginthefollowingsituations:a.whenthereareonlyasmallnumberofsupplierstothemarketb.whentherearenosubstitutesfortheproductsthataresuppliedc.whenproductsofasupplieraredifferentiatedd.whensupplier’sproductisanimportantcomponentintheend-productsofcustomere.whentheindustrysuppliedisnotanimportantcustomerf.whenthesupplierscouldeasilyintegrateforwardBuyerscanreducetheprofitabilityofanindustrywhentheyhaveconsiderablebuyingpower.Powerfulbuyersareabletodemandlowerprices,orimprovedproductspecifications,asaconditionofbuying.TheyalsoBuyerscanreducetheprofitabilityofanindustrywhentheyhaveconsiderablebuyingpower.Powerfulbuyersareabletodemandlowerprices,orimprovedproductspecifications,asaconditionofbuying.Theyalsomakerivalfirmscompetetosupplythemwiththeirproducts.Buyersmightbeparticularlypowerfulinthefollowingsituations:a.whenthepurchasesvolumeishighrelativetothesizeofthesupplier c.whenthecostsofswitchingfromonesuppliertoanotherarelowd.whenthebuyer’sproductisnotaffectedsignificantlybythequalitygoodsthatitbuyse.whenthebuyerhasfullinformationaboutsuppliersandCompetitiveCompetitionwithinanindustryisobviouslyalsodeterminedbytherivalrybetweenthecompetitors.Strongcompetitionforcesrivalfirmstooffertheirproductstocustomersatalowprice(relativetotheproductquality)andthiskeepsprofitabilityfairlylow.Portersuggestedthatcompetitorrivalrymightbestronginanyofthefollowinga.whentherivalfirmsareofroughlythesamesizeandeconomicstrengthb.whentherearemanycompetitorsc.whentheproductsofrivalfirmsarelargelythesame(‘undifferentiated’)d.whenthecostsofwithdrawingfromtheindustryarehigh,sothatevenunprofitablecompaniesarereluctanttoleavethemarket.8.Productlifecycle–A‘lifecycle’istheperiodfrombirthorcreationofanitemtotheendofitslife.Products,companiesandindustriesallhavelifecycles.Aproductlifecyclebeginswithitsinitialdevelopmentandendsatthetimethatitiseventuallywithdrawnfromthemarketattheendofitslife.The‘classical’lifecycle8.Productlifecycle–A‘lifecycle’istheperiodfrombirthorcreationofanitemtotheendofitslife.Products,companiesandindustriesallhavelifecycles.Aproductlifecyclebeginswithitsinitialdevelopmentandendsatthetimethatitiseventuallywithdrawnfromthemarketattheendofitslife.The‘classical’lifecycleforaproduct,stagesorphases:Introductionphase.Duringthisstageofaproductlifecycle,thereissomesalesdemandbuttotalsalesarelow.Firmsthatmakeandselltheproductincurinvestmentcosts,andstart-upcostsandrunningcostsarehigh.Theproductisnotyetprofitable.Growthphase.Duringthegrowthphase,totalsalesdemandinthemarketgrowsatafasterrate.Newentrantsareattractedintothemarketbytheprospectofhighsalesandprofits.AtanearlyIntroductionphase.Duringthisstageofaproductlifecycle,thereissomesalesdemandbuttotalsalesarelow.Firmsthatmakeandselltheproductincurinvestmentcosts,andstart-upcostsandrunningcostsarehigh.Theproductisnotyetprofitable.Growthphase.Duringthegrowthphase,totalsalesdemandinthemarketgrowsatafasterrate.Newentrantsareattractedintothemarketbytheprospectofhighsalesandprofits.Atanearlystageduringthegrowthphase,companiesinthemarketbegintoearnprofits.Theopportunityformoregrowthnolongerexists,althoughthelifeoftheproductmightbeextended,throughproductupdates.Morecompaniesmightseektoimproveprofitsbydifferentiatingtheirproductsmorefromthoseofcompetitors,andsellingtoa‘niche’marketsegment.Declinephase.Eventually,totalannualsalesinthemarketwillstarttofall.Assalesfall,sodoprofits.Companiesgraduallyleavethemarket.Atsomepointintime,itisnolongerpossibletoproduceandselltheproductataprofit,andtheproductisthereforediscontinuedbythelastofthecompaniesthatmakesit.9.Strategicspace–10.Methodsofsegmentingthemarket–10.Methodsofsegmentingthemarket–Therearevariouswaysofsegmentingthemarket,andidentifyingdifferentgroupsofcustomers.Methodsofsegmentingthemarketincludesegmentationa.Geographicalareab.Qualityandperformanced.Typeofcustomer:forexample,consumersandcommercialcustomerse.Socialstatusorsocialgroupf.g.Life11.SWOTanalysis(TOWSanalysis)–SWOTanalysisisananalysisofstrengths,weaknesses,opportunitiesandthreats.Itisasimplebutusefultechniqueforanalysingstrategicposition.a.S-Strengthsareinternalstrengthsthatcomefromtheresourcesoftheb.W-Weaknessesareinternalweaknessesintheresourcesofthec.O-Opportunitiesarefactorsintheexternalenvironmentthatmightbeexploited,totheentity’sstrategicadvantage.d.T-Threatsarefactorsintheexternalenvironmentthatcreateanadverseriskfortheentity’sfutureStrengthsandweaknessesareconcernedwiththeinternalcapabilitiesandcorecompetenciesofanThreatsandopportunitiesareconcernedwithfactorsanddevelopmentsintheexternal12.Marketingmix12.Marketingmix–Themarketingapproachistoidentifycustomerneedsandtrytomeetcustomerneedsmoresuccessfullythancompetitors.The4Psare:ProductreferstothedesignfeaturesoftheProductreferstothedesignfeaturesoftheproduct,andtheproductquality.Inadditiontotheproductitself,featuressuchasshortleadtimefordeliveryandreliabledeliverycouldbeimportant.Productfeaturesalsoincludeafter-salesserviceandwarranties.Forservices,thequalityofservicemightdependpartlyonthetechnicalskillsandinter-personalskillsoftheserviceprovider.Priceisthesellingpricefortheproduct:somecustomersmightbepersuadedtopurchasebyalowpriceorbytheofferofanattractivediscount.Placereferstothewayinwhichthecustomerobtainstheproductorservice,orthe‘channelofdistribution’.Productsmightbeboughtinashoporsupermarket,fromaPromotionreferstothewayinwhichproductisadvertisedandpromoted.Itincludesdirectsellingbyasalesforce(includingtelesales).Itisimportantinstrategicanalysistounderstandwhatcustomerswillwanttobuy,andwhysomeproductsorserviceswillbemoresuccessfulthanothers.MarketingBySellingSalesPublicComfortandUsefulLifeandWarrantiesandUniqueness–BrandAfterDistributionRetailOutletsHomeB2B–Convenience(EvenathigherE-Commerce(Doesn’tworkallGenerallycustomerbuymoreofproductthelowertheCanalsobeameansofCreditMoneyBackandFinanceCSFsarefactorsthatCSFsarefactorsthatareessentialtothestrategicsuccessofabusinessentity.Theyhavebeendefinedas:‘thosecomponentsofstrategyinwhichtheorganisationmustexceltoout-performcompetition’(JohnsonandScholes).Whenmanagementareanalysingamarketandcustomersinthemarket,theyshouldtrytounderstandwhichfactorsareessentialtosucceedinbusinessinthemarket,andwhichfactorsarenotsoimportant.StrategicsuccessisachievedbyidentifyingtheCSFsandsettingtargetsforperformancelinkedtothosecriticalKPIsaremeasuredtargetsfor14.Six-stepapproachtousingCSFs–15.Benchmarking–Benchmarkingisaprocessofcomparingyour15.Benchmarking–Benchmarkingisaprocessofcomparingyourownperformanceagainsttheperformanceofsomeoneelse,preferablytheperformanceof‘thebest’.Thepurposeofbenchmarkingistoidentifydifferencesbetweenyourperformanceandtheperformanceoftheselectedbenchmark.Wherethesedifferencesaresignificant,methodsofclosingthegapandraisingperformancecanbeconsidered.Onewayofimprovingperformancemightbetocopythepracticesofthe‘ideal’orbenchmark.Instrategicpositionanalysis,benchmarkingisusefulbecauseitprovidesanassessmentofhowwellorbadlyanentityisperformingincomparisonwithcompetitors.MethodsofInternalbenchmarking.Anentitymightcomparetheperformanceofunitswithintheorganisationwiththebest-performingunit.Operationalbenchmarking.Anentitymightcomparetheperformanceofaparticularoperationwiththeperformanceofasimilaroperationinadifferentbusinessentityinadifferentindustry.Operationalbenchmarkingarrangementsmightbenegotiatedwithanotherbusinessentity.c.Competitivebenchmarking.Anentitymightcompareitsownperformanceanditsownproductswiththoseofitsmostsuccessfulcompetitors.Unlikeinternalbenchmarkingandoperationalbenchmarking,competitivebenchmarkingmustbecarriedoutwithouttheknowledgeandco-operationoftheselectedbenchmark.d.Customerbenchmarking.Thebenchmarkisaspecificationofwhatcustomersexpect.Anentitycomparesitsperformanceagainstwhatitscustomersexpecttheperformancetobe.16.Valuechain16.Valuechain–Primaryvalue(a)Inboundlogistics:activitiesconcernedwithreceivingandhandlingpurchasedmaterialsandcomponents,andstoringthemuntilneededPrimaryvalue(a)Inboundlogistics:activitiesconcernedwithreceivingandhandlingpurchasedmaterialsandcomponents,andstoringthemuntilneeded(b)Operations:activitiesconcernedwithconvertingthepurchasedmaterialsintoanitemthatcustomerswillbuyOutboundlogistics:activitiesconcernedwiththestorageoffinishedgoodsbeforesale,andthedistributionanddeliveryofgoods(orservices)tothecustomers.Forservices,outboundlogisticsrelatetothedeliveryofaserviceatthecustomer’sownpremises.Marketingandsales:activitiessuchasadvertisement,promotionetc.(e)Service:activitiesthatoccurafterthepointofsale,suchasinstallation,warranties,repairsandmaintenance,providingtrainingtotheemployeesofcustomersandafter-salesservice.a.Procurement:activitiesconcernedwithbuyingtheresourcesfortheentity–materials,plant,equipmentandotherassets.b.Technologydevelopment:activitiesrelatedtoanydevelopmentinthetechnologicalsystemsoftheentity,suchasproductdesign(researchanddevelopment)andITsystems.c.Humanresourcesmanagement:activitiesconcernedwithrecruiting,training,developingandrewardingpeopleintheorganisation.d.Corporateinfrastructure.Thisrelatestotheorganisationstructureanditsmanagementsystems,includingplanningandfinancemanagement,qualitymanagementandinformationsystemsmanagement.a.Procurement:a.Procurement:activitiesconcernedwithbuyingtheresourcesfortheentity–materials,plant,equipmentandotherassets.b.Technologydevelopment:activitiesrelatedtoanydevelopmentinthetechnologicalsystemsoftheentity,suchasproductdesign(researchanddevelopment)andITsystems.c.Humanresourcesmanagement:activitiesconcernedwithrecruiting,training,developingandrewardingpeopleintheorganisation.d.Corporateinfrastructure.Thisrelatestotheorganisationstructureanditsmanagementsystems,includingplanningandfinancemanagement,qualitymanagementandinformationsystemsmanagement.17.Valuenetwork–18.Strategiccapability–18.Strategiccapability–19.Resources–6Msa.Humanresources.Thesearetheleaders,managersandotheremployeesofanentity,andtheirskills.Physicalresources.Thesearethetangibleassetsofanentity,andincludeproperty,plantandequipment,andalsoaccesstosourcesofrawmaterials.additionalfinanceifthisisrequired.Intellectualcapital.Thisincludesresourcessuchaspatents,trademarks,brandnamesandcopyrights.Italsoincludestheacquiredknowledgeand‘know-how’oftheentity.20.Waysofachievingcostefficiency20.Waysofachievingcostefficiency–(a)Economiesofscale:refertowaysinwhichtheaveragecostsofproductioncanbereducedbyproducingoroperatingatahighervolumeofoutput.Insimplifiedterms,operatingatahighervolumeofoutputenablesafirmtospreaditsfixedcostsoveralargervolumeofoutputunits,sotheaveragecostperunitfalls.(b)Economiesofscope:reductionsincostsmightbeachievedbyproducingtwoormoreproducts,sothatanentitythatmakesalltheproductsachieveslowercostsperunitthancompetitorsthatproduceonlyoneoftheproducts.21.Mission,GoalsandObjectives–Amissionisthepurposeofanorganisationandthereasonforitsexistence.Manyentitiesgiveaformalexpressiontotheirmissioninamissionstatement.‘Amissiondescribestheorganisation’sbasicfunctioninsociety,intermsoftheproductsandservicesitproducesforitscustomers’(Mintzberg).Goalsareaimsfortheentitytoachieve,expressedinnarrativeterms.Theyarebroadintentions.Forexample,anentitymighthavethegoalofmaximisingthewealthofitsshareholders,orthegoalofbeingtheworld’sleadingbusinessentityinoneormoremarkets.Objectivesarederivedfromthegoalsofanentity,andareaimsexpressedinaformthatcanbemeasured,andthereshouldbeaspecifictimebywhichtheobjectivesshouldbeachieved.22.Stakeholdermapping22.Stakeholdermapping–Keyplayers:stakeholderswhohaveKeyplayers:stakeholderswhohavehighpowerandhighinterestareknownaskeyplayers.Managementreallyneedstokeepthosepeoplehappy.Theyhavethepowerandtheyhavethewillingnesstodosomethingaboutitiftheyareupset.Keepsatisfied:somestakeholdershavehighpowerbuttheyareunlikelytotakeactionevenifmanagementdoessomethingwhichtheydislike.TheymaybeunwillingtotakeactionbecauseofprofessionalKeepinformed:peoplewithlowpowerbuthighinteresthavetobekeptinformed.Theycan’tdomuchaboutitthemselvesbuttheymightbeabletoinfluencekeyplayerstotakeactionontheirbehalf.Minimaleffort:thesestakeholdershavelowpowerandlowinterest.Managementcanalmostignorethesepeople.Afterall,whataretheygoingtodoiftheydon’tlikewhat’s23.Culturalweb–(a)Routinesand•Routinesare‘theways(a)Routinesand•Routinesare‘thewaysthingsaredonearoundhere’.Individualsgetusedtotheestablishedwaysofdoingthings,andbehavetowardseachotherandtowards‘outsiders’inaparticularway.Ritualsarespecialeventsinthe‘life’oftheorganisation,whichareanexpressionofwhatisconsideredimportant.•(b)Storiesand•Storiesandmythsareusedtodescribethehistoryofanorganisation,andtosuggesttheimportanceofcertainindividualsorevents.Theyhelptocreateanimpressionofhowtheorganisationgottowhereitis,anditcanbedifficulttochallengeestablishedmythsandconsideraneedforachangeofdirectioninthe(c)•Symbolscanbecomearepresentationofthenatureoftheorganisation.Examplesofsymbolsmightbeacompanycarorhelicopter,anofficeorbuilding,alogoorastyleoflanguageandthecommonwordsandphrases(‘jargon’)thatemployeesuse.(d)PowerTheindividualswhoareinapositionofpowerinfluenceorganisations.Inmanybusinessorganisations,powerisobtainedfrommanagementposition.However,powercanalsocomefrompersonalinfluence,orexperienceandexpertise.Themostpowerfulgroupswithinanorganizationaremostcloselyassociatedwiththecorebeliefsandassumptionsinitsculture.(e)OrganisationThecultureofanorganisationisaffectedbyitsorganisationandmanagementstructure.Organisationstructureindicatestheimportantrelationshipsandsoemphasiseswhoandwhatisthemostimportantpartsofit.Hierarchicalandbureaucraticorganisationsmightfinditparticularlydifficulttoadapttochange.(f)ControlPerformancemeasurementandrewardsystemswithinanorganisationestablishtheviewsaboutwhatisimportantandwhatisnotsoimportant.Individualswillfocusonperformancethatearnsrewards.24.Threerationalesforaddingvalue–Therearethreedifferentwaysofarguingthataparentcompanycanaddvaluetoagroup.Eachdifferentargumentisbasedonadifferentviewofthe24.Threerationalesforaddingvalue–Therearethreedifferentwaysofarguingthataparentcompanycanaddvaluetoagroup.Eachdifferentargumentisbasedonadifferentviewoftheroleoftheparentcompany.Aparentcompanycanperformanyoneofthefollowingrolesforthegroup