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The 2nd edition of Strategy in Practice presents a practitioner focused approach to strategy. It is increasingly recognised that the ability to adapt classic formulas to changing circumstances and develop fast, sound strategic thinking is what differentiates the successful corporate leader.
Developed from experience in industry this successful text will include an instructor site with PowerPoint slides, extra examples and exercises, and links highlighting changing business practice.
While rigorously founded on current thinking and theoretical concepts in the field of strategic management it aims to:
• provide the strategy practitioner with a systematic and insight-driven approach to strategic thinking
• establish and translate the relevance of strategy theory to its application in the practice field
• lead the reader through the strategic thinking process, beginning with the formulation of compelling and clearly articulated strategic questions that set the scene for practical issues
• provide tools of strategic analysis in combination with informed intuition to understand the strategic landscape.
- Sales Rank: #2577768 in Books
- Brand: Brand: Wiley
- Published on: 2013-03-11
- Released on: 2013-03-04
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x .60" w x 6.00" l, .90 pounds
- Binding: Paperback
- 288 pages
- Used Book in Good Condition
From the Back Cover
This is a revised and updated edition of the successful executive guide to strategic thinking and practice. Developed from the author’s experience in industry and packaged in a concise, accessible format, the text is ideal in training strategic managers.
More than ever, firms are seeking new ways to approach their strategy, if not to achieve strategic growth, then to counter threats with more effective defensive strategies. This revised edition offers students and executives further help in developing insight or ‘getting the big picture’ through new frameworks.
The text provides the strategy practitioner with a systematic and insight-driven approach to strategic thinking.
“George Tovstiga achieves a rare balance with Strategy in Practice. It is a strategy guide that is clear enough, researched enough yet pragmatic enough to work in complex, international, multilingual contexts and in emerging economies. Moreover it is original and helpful – focusing on creating value, not plans.� Essential reading.”—Professor Jon Foster-Pedley, Dean and Director of Henley Business School in South Africa (Johannesburg)
“The 2nd edition of Strategy in Practice provides new insight into the strategy process and explores how strategic thinking contributes to the creation of a differentiated value offering. George Tovstiga examines the role of sense making from spatial and process perspectives based on both high- and supporting-levels of strategic analysis. Strategy in practice case examples provide insightful illustration of how this occurs in the practice field. This book is highly recommended for both managers and students studying strategic management in various countries and across all industries.”—Professor Andrey G. Medvedev, Graduate School of Management (GSOM), St. Petersburg University, Russia
“This book is excellent, for several reasons. It stresses how strategy can be much more practiced, more tangible. It puts heavy emphasis on the people that make effective strategies happen. A must for practitioners, students and academics alike.”—Professor Peter Lorange, Lorange Institute of Business, Zurich, Switzerland
“Executives charged with the critical task of formulating a strategy for their business can be overwhelmed by the current profusion of tools and techniques that aspire to offer advice and insight into that process. Rather than mastering all of these, managers can now look to this book as a clever integration of the best of those ideas into a coherent and pragmatic approach to the development of strategy in any organization. It should become a vital tool for all strategists in the future.”—Professor David J. Collis, Harvard Business School, Cambridge, USA
About the Author
George Tovstiga is Professor of Strategy and Innovation Management at Henley Business School, University of Reading (UK), where he is Director of the Henley Executive Strategy Programme.
Most helpful customer reviews
0 of 0 people found the following review helpful.
Good ideas, thoughtful and logical, but a very difficult read
By Gregory D. Githens
There is a lot to like in this book, and I give it 4 stars on the basis of content. However, despite the subtitle ("A Practitioners Guide to Strategic Thinking), few practitioners will have the patience to read through it. I really had to discipline myself. I would read a few pages and get tired, but force myself to come back to it.
Finally, on page 221 the book finds a reader-friendly voice. The author describes the experiences of CEO Andy Grove at Intel as they grapple with the move out of memories in the mid-1980s and into a leadership position in microprocessors. Tovstiga develops the example, and explains its relevance and significance to his model of strategy.
The book's title of "Strategy in Practice" seems to be important to the author, but I found the author's discussion tedious. Who cares about the distinction of strategy AS practice contrasted to strategy IN practice? The answer to that question appears to be academics, rather than the practitioner audience stated in the subtitle. So what is this book really about?
This book is really about strategic analysis in the context of business competition. Tovstiga lays the book out logically, starting with Figure 1.1 illustrating these key activities: articulating the problem, framing the issues, sense making & strategic insight, reconstructing reality, strategy formulation, and strategic response. The chapters align with the illustrated model. Strategy is a messy undertaking, and it seems to me that Tovstiga has found a reasonable balance between showing the complexity without oversimplifying.
A few words on why I bought this book are in order. I coach & train individuals and small groups in the art and practice of thinking strategically; these are busy people who want a personal capacity for strategic thinking. All of my clients are business people, but I also provide this pro bono for selected non-profits charitable organizations. It is valuable for me to know the relevant literature and there is always something to learn. It is my view that strategic thinking is a style of thinking, and that a strategist is person who competently applies certain thinking skills. In my view, the real value of strategic thinking is that it produces insights, and those insights are subsequently used to create powerful and effective strategies.
Given my interest in strategic thinking and insight creation, I was especially interested in the book's discussion on sense-making a creator of insights. Chapter 3 is titled "Sense Making and Strategic Insight" and Chapter 4 is titled "Insight-Driven Strategic Analysis." Having read those two chapters several times, underlining key ideas and making margin notes, I have to say that my assessment is that the topics were treated adequately but not brilliantly.
Which brings me back to my overall evaluation of the book: It is just tough to read. It has a professorial tone; for example, academic journal articles are frequently cited where the "Smith argues that" and "Jones argues that." There are several ultra-long sentences in the book: 57 words and 84 words to cite just two examples. (The three sentences that you just read total 58 words.) For readability, I give it 1 star.
For practitioners under pressure to analyze situations and develop strategy, I suggest that you jump right to the two appendices. Appendix A provides a worksheet/template for examining competition, customer needs, and internal resources. It's straightforward, and should stimulate some insights. Tovstiga spends considerable time in the book developing the idea of a firm's unique competing space, which is a conceptual space where the firm is meeting customers' needs in a way that is differentiated from competitors' offerings.
Appendix B takes the notion of the unique competitive space, and provides the reader a set of guiding questions about external context, the firm's competitive edge, customer needs, the firm's strengths and weakness. It then asks the reader to pull it all together into a nutshell statement of "our uniquely differentiated strategy" that can be developed into a concise narrative statement. This is practical, and any person who does this is more likely to have a useful strategy than a person who doesn't do the exercise.
I do think there are some real gems in this book, and I am sure that I will be returning to the book to reflect on many of the ideas. However, I am going to have to discover my own real-world examples to understand the relevance of the many abstract concepts.
0 of 0 people found the following review helpful.
Good read
By Anthony Skeepers
It makes a lot of sense, practical. It makes the strategic process simple. It does however have an academic flavour to it.
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