To generate a firm’s strategic vision, managers must understand a highly complex set of interacting factors, including the industry’s history and structure, the company’s and its competition’s core capabilities, and the various strategic segments in which the firm competes. They must also take into account the unpredictable future. What if there is a technological breakthrough? What if new markets open up? The author gives a methodology for organizing all of this information, centering on a core capabilities matrix. He shows step-by-step how to envision the possible futures and your company’s place in them. When you finish, you’ll know which of your core capabilities are most important and how to leverage them for maximum advantage.
1 Comment On: How to Link Strategic Vision to Core Capabilities
You stated:
The framework has four steps:
Generate broad scenarios of possible futures that your firm may encounter.
Conduct a competitive analysis of the industry and its strategic segments.
Analyze your company’s and your competition’s core capabilities.
Develop a strategic vision and identify your strategic options.
I believe if companies like General Motors followed this philosophy we would not need to bail them out. Instead we would be buying their cars. I employ these strategies at my health and wellness company. The core vision of my company is to deliver a great product. The engine to get me there will be in the core strategies you talked about. I want that competitive advantage. At the end of the article you referenced Apple. How prophetic as just yesterday they became the most valued company ever. Their value tops 680 billion dollars. That is successful strategic vision with a core value of excellence.