Introduction to Course

Professional v. Trade Word Games …

◦ Retail …◦ Marketing …◦ Strategy …

When we talk about “strategy” … where do most of our metaphors and role models come from?

Military and sport analogies … Imply the necessity of opponents.

◦ Strong focus on competition may lead organization to focus on short term success (e.g. “win the game”).

◦ Ignore larger questions relating to structure, mission and opportunity.

Focus on goal/objective attainment.◦ “very nature of goals implies temporary

success.”◦ Leads to view that strategy itself is about goal

achievement.

Corporate Strategy◦ “a fuzzy discipline”◦ “Scholars, execs and consultants know its

problematic to explain … which decisions are strategic choices and which are just operational options.”

We can generally agree strategy is … ◦ an elaborate and systematic plan of action.

More specifically, …◦ business strategy is … “a fundamental pattern of

present and planned objectives, resource deployments, and interactions of an organization with markets, competitors and other environmental factors.”

Hierarchy◦ Mission Goals Objectives Strategy

Strategy is the roadmap – how do we get there?

A. CorporateStrategy

C. Functional(e.g., Marketing)

Strategy

B. BusinessStrategy

AC

ABC

BC

1985 – Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.

2004 - A function (little “m”) and a set of processes (big “M”) for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Customer relationships … only?

True need or bizarre hybrid?◦ What “things” make strategy in the retail context

unique? Or, more specifically …

Old saw …