UNSPECIFIED (2004) The future shape of strategy: Lemmings or chimeras? ACADEMY OF MANAGEMENT EXECUTIVE, 18 (2). pp. 21-36. ISSN 0896-3789

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Abstract

Despite revolutionary claims about the changing shape of organizations and strategy, the predispositions of executives are often framed and limited by the structures assumed by strategy's foundational works of the 1960s. These works emphasize top-down planning, generic linear processes, simple either/or choices, and singular outcomes. We argue that there is a need to evolve these mental frames to better enable executives to appreciate how today's firms can compete more effectively through individualized approaches that seek both economies of scale and unique identities in the marketplace. This evolution necessitates a new framework that can handle complex, multi-dimensional processes. Such a generic framework would conceptualize the need to simultaneously customize products and services for individual consumers while trying to reduce costs through efficient production and service provision. In working with executives in Europe and Australasia, we have drawn upon the chimera, a creature with a single body and different formidable heads operating on many fronts, as an analogy for the firm confronting numerous, quite different, and often paradoxical challenges. The chimera has inspired us to create a new framework: the Value Chimera-a multi-faceted. multidimensional means of assessing how firms can manage their value-adding processes to target multiple customer groups in complex business environments.

Item Type:	Journal Article
Subjects:	H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Journal or Publication Title:	ACADEMY OF MANAGEMENT EXECUTIVE
Publisher:	ACAD MANAGEMENT
ISSN:	0896-3789
Date:	May 2004
Volume:	18
Number:	2
Number of Pages:	16
Page Range:	pp. 21-36
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/8258

Data sourced from Thomson Reuters' Web of Knowledge

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