A Dialogue Process for Choosing Value-Creating Strategies

A decision process has proven effective in three activities that are key to value creation: choosing an excellent strategy, actually bringing about change, and operating effectively with the new strategy. The dialogue is between a decision board and the strategy team as they work through six steps o...

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Bibliographic Details
Published in:Interfaces (Providence) 1999-11, Vol.29 (6), p.16-28
Main Authors: Bodily, Samuel E, Allen, Michael S
Format: Article
Language:English
Subjects:
Business strategies
Business structures
Change management
Corporate strategies
Decision analysis
Decision making
Enterprises
Health maintenance organizations
HMOs
industries
Management science
Managers
Market shares
Marketing
Medical treatment
Net present value
Operations management
Operations research
Organizational behavior
Pharmaceutical industry
Pharmaceutical preparations
pharmaceuticals
Product development
Real prices
risk
Roads & highways
Shareholder value
Special Section: Strategy Modeling and Analysis
Stockholders
Strategic management
Strategic planning
Studies
Success
Value creation
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Summary:A decision process has proven effective in three activities that are key to value creation: choosing an excellent strategy, actually bringing about change, and operating effectively with the new strategy. The dialogue is between a decision board and the strategy team as they work through six steps of a decision process. This process is focused on alternatives and implementation and is founded in decision analysis. Strategy frame-works and structuring tools are key to assessing the business situation. Risk and value trade-offs are made explicit, leading to concrete proposals to add value and reduce risk. Explicit plans for action are developed as the strategic alternative is chosen. Companies have developed strategy insights using this process, as we illustrate with examples from the pharmaceutical industry.
ISSN:0092-2102
2644-0865
1526-551X
2644-0873
DOI:10.1287/inte.29.6.16