A practitioner-focused approach to strategy and real-world strategic thinking

This 3rd edition has been revised and updated throughout to reflect the current thinking in strategy in view of the current economic and business climate. It questions how we are thinking differently about strategy now, in light of emerging from the global economic crisis. It includes new and updated case illustrations throughout, plus a new chapter on Strategy Execution and Performance Appraisal. Rigorously founded on current thinking and theoretical concepts in the field of strategic management, Strategy in Practice:

• Provides the strategy practitioner with a systematic and insight-driven approach to strategic thinking
• Establishes and translates the relevance of strategy theory to its application in the practice field
• Leads you through the strategic thinking process, beginning with the formulation of compelling and clearly articulated strategic questions that set the scene for practical issues
• Provides tools of strategic analysis in combination with informed intuition to understand the strategic landscape
• Has additional online resources available for instructors

George Tovstiga (Henley, UK) is Professor of Strategy and Innovation Management at Henley Business School, University of Reading and is Director of the Henley Executive Strategy Programme.
Professor Tovstiga teaches, researches and consults in the areas of strategy and innovation management. He has extensive international experience as management educator, industry practitioner, author and consultant. Prior to joining Henley, George consulted for Arthur D. Little (Switzerland) Ltd's Strategic Growth and Innovation Practice. He has also worked with Xerox Research, Bayer Ag and ABB as an industry practitioner.
His professional experience is in a diverse range of international assignments in the field of strategic management in both industry and academia. He is a consultant to a number of multinationals in the area of strategy.

Preface to the First Edition vii

Preface to the Second Edition xv

Preface to the Third Edition xix

About the Author xxiii

1 Introduction to Strategy in Practice 1

2 Strategic Thinking 31

3 Sense Making and Strategic Insight 55

4 Insight-Driven Strategic Analysis 87

5 High-Level, “Big-Picture” Strategic Analysis 119

6 Supporting-Level Strategic Analysis 175

7 Strategy Formation and Evaluation of Strategic Options 219

8 Strategy Execution and Performance Appraisal 255

9 Insight-Driven Strategy in Perspective 293

Appendices: Putting Strategy to Practice 317

Appendix A: Probing the Strategic Boundaries of the Firm’s Unique Competing Space 319

Appendix B: Strategy Mapping and Narrative (based on Analysis of the Relevant

Strategy Building Blocks) 331

Index 341