Praise forDynamic Strategy-Making

"An astonishingly timely, hopeful, and important book that recasts and freshly imagines strategy-making and integrates theory with practice in the field of strategic management. A must-read for all those who want to learn more about the future of strategy practice and become more skillful at it."—WARREN BENNIS, Distinguished Professor of Business, University of Southern California; and coauthor,Transparency

"This is one of the most valuable resources ever created for strategists and leaders in organizations. It uniquely combines concepts of leadership and organization with strategy content and implementation in a pragmatic and integrated approach that makes tremendous sense for our times. With concrete cases, it provides a clear road map for those who want and need to do a better job of formulating and implementing strategy."—DAVID A. NADLER, vice chairman, Marsh& McLennan Companies; senior partner, Oliver Wyman-Delta Organization and Leadership; and author,Building Better Boards andCompeting By Design

"The authors correctly focus on the new dynamic of 24/7 competition and change and the need for organizations to be fast, fluid, and flexible. It is a must-read for managers of tomorrow and offers a number of practical insights and lessons on how to proceed with strategy execution that can be readily adopted in any organization. It is a call to action that few can afford to ignore."—MANJIT SINGH, chairman, Sony Entertainment Television, India; and former CEO, Compete Inc., High Circle, Future Step, and Korn/Ferry International

Larry E. Greiner Larry E. Greiner is professor of management and organization at the Marshall School of Business at the University of Southern California.

Thomas G. Cummings is professor and chair of the Department of Management and Organization at the University of Southern California.

Preface vii

The Authors xi

1. Demise of Strategic Planning and Its Dynamic Replacement 1

2. Lessons from Experience 17

3. Lessons from Strategy Knowledge 31

4. Building a Strategic System 43

5. Making a Strategic Assessment 57

6. Crafting a Strategic Statement 67

7. Using Guided Involvement 97

8. Leading, Changing, and Following-Up in Real Time 119

9. Facilitating Real-Time Strategy: A New Role for Consultants 137

10. Real-Time Issues FAQ 153

11. Last Words on Underlying Themes 163

Appendix A: Coast Yellow PagesA Research Case Study 169

Appendix B: Gamma BankA Research Case Study 185

Appendix C: Petrofuels EnergyA Research Case Study 193

Appendix D: Johnson& Johnson Statement of Strategic Direction 211

References 213

Index 221