Key Strategy Tools
The 80+ Tools for Every Manager to Build a Winning Strategy
“A fabulous compendium of tools, woven into a no-nonsense strategy process. An enormously helpful book, invaluable to novices and experts alike.”
Marcus Alexander, Professor of Strategy and Enterprise at London Business School
“A really practical guide to strategy development. All the relevant tools are explained in detail, but highlighting the essential ones is a master stroke that will save essential hours!”
Adrian Beecroft, Chairman, Dawn Capital
The strategy tools you need for your business to succeed
Let Key Strategy Tools be your guide to developing a winning strategy for your firm. Cherry-pick the most useful approaches for your business and create a robust strategy that withstands investor scrutiny and becomes your roadmap to success.
Covering 88 tools – approaches, models, schools and techniques – framed within an innovative strategy development process, the strategy pyramid, this user-friendly manual takes you through each step of the process. Whether analysing your market, building competitive advantage or addressing risk and opportunity, you’ll find the strategic thinking tools you need at every stage.
Following in the footsteps of the hugely successful Key Management Models and Key Performance Indicators, this book delivers professional-level information in the practical and accessible framework synonymous with the Key series.
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Vaughan Evans has been a strategy consultant since the mid-1980s, working with a broad range of corporate clients, from small firms to global giants, and with over 50 financier clients, both structured lenders and private equity. For the last ten years he has been independent, specialising in business strategy, business planning and strategic due diligence. Vaughan is a graduate of Downing College, Cambridge and a Sloan Fellow with distinction of London Business School. He has written four previous books including the bestseller The Financial Times Essential Guide to Writing a Business Plan.
I wish I had thought of the idea for this book. Or could have done it so well! The selection of topics is excellent, the commentary astute, and the explanations simple and engaging.
Richard Koch, entrepreneur, co-founder L.E.K. Consulting, author of The 80/20 Principle
This is a new, very practical and delightfully pithy approach to strategy making. It offers a fabulous compendium of the major strategy tools, woven into a no-nonsense, step-by-step strategy process. An enormously refreshing and
helpful book, invaluable to novices and strategy experts alike.
Marcus Alexander, Professor of Strategy and Enterprise, London Business School
A really practical guide to strategy development. All the relevant tools are explained in detail, but highlighting the essential ones is a master stroke that will save endless hours!
Adrian Beecroft, Chairman, Dawn Capital and former Senior Managing Partner, Apax Partners
A comprehensive inventory of the tools and analytical frameworks of strategy. The key value of this book is the guidance it offers on how to apply these tools – and this is rooted in Vaughan Evans’ deep experience of working with them.
Robert M. Grant, ENI Professor of Strategic Management, Bocconi University, Milan
This is an interesting and usable book. Evans helps you navigate through the myriad of theories and toolkits on business strategy with a highly practical approach. Whether your business is a start-up, an SME or a multi-national, use it to help you devise a coherent strategy.
Anthony Karibian, CEO, Bonline Ltd and co-founder, Euroffice Ltd and XLN Telecom Ltd (both exited)
Everything you need from a tool kit, comprehensive, practical and high added value.
Mike Garland, Partner and Head of Portfolio Group, Permira Advisers LLP
This book really works. I hope it becomes a standard for every management team seeking private equity; it would certainly make my life much easier.
David Williamson, Managing Director, Nova Capital Management
A broad yet accessible explanation of the range of strategy tools actually used by businesses. Whether you are an experienced strategy specialist or newer to the field, you will find this an invaluable guide.
Robert Samuelson, Executive Director Group Strategy, Virgin Media
Strategy is at the heart of a successful business – with this excellent book, Vaughan Evans has provided an extremely clear roadmap to achieving that success.
James Courtenay, Global Head, Advisory & Infrastructure Finance, Standard Chartered Bank
A very satisfying read. This is a guide to strategy which covers all the necessary ground in a very straightforward and no nonsense way, employing a number of good real life examples of strategy in practice. It is written by a true
expert and will prove an invaluable tool for anybody involved in the running of a business.
Vince O’Brien, Director, Montagu Private Equity and Past Chairman of the British Venture Capital Association
It can be difficult to keep up to date with all the latest developments in the world of strategy, let alone how one guru’s work blends with those of his predecessors. Vaughan Evans has done it for us. He gives us a thorough refresher course, with each leading strategy theory, model or matrix presented as a tool in the manager’s toolkit – and carefully placed in each step of the strategy process. Each tool is described in a lucid and vivid style seldom found in a business manual. Refreshing and invaluable for a DIY strategist.
Christine Harvey, former Director of Business Analysis and Planning, GlaxoSmithKline R&D
A practical approach, easy to read and understand, on how to build your business strategy, the steering direction that any business, large or small, needs to succeed.
Jose-Maria Maldonado, Partner, Bridgepoint Capital, Madrid
The Strategy Pyramid
How to use this book
Business vs corporate strategy
Section 1: Knowing Your Business
1. Identifying key segments
2. Issue Analysis (Minto)
Example: British Aerospace’s super segment
3. The 80/20 Principle (Pareto)
4. The Segmentation Mincer (Koch)
5. 5C Situation Analysis
6. SWOT Analysis
Section 2: Setting Goals and Objectives
7. Setting long-term goals
8. Setting SMART objectives
9. Maximising shareholder value
10. Balancing stakeholder interests
Example: Which goals count for RBS?
11. Creating Shared Value (Porter & Kramer)
12. Economic Value Added (Stern Stewart)
13. Balanced Scorecard and Strategy Map (Kaplan & Norton)
14. Core Ideology (Collins & Porras)
15. Business as a Community (Handy)
Section 3: Forecasting Market Demand
16. Sizing the market and Marketcrafting (Evans)
17. The HOOF Approach to Demand Forecasting (Evans)
Example: Galileo’s Hiccup in Market Demand
18. Smoothing through moving averages
19. The Income Elasticity of Demand
20. Survey methods of demand forecasting
a. Survey of customers’ intentions
b. Salesforce estimation method
c. The Delphi method
d. Pilot test marketing
21. Statistical methods of demand forecasting
a. Trend projection
b. Regression analysis
c. Barometric method (NBER)
Section 4: Gauging Industry Competition
22. The Five Forces (Porter)
23. Assessing customer purchasing criteria
24. Deriving key success factors
Example: Woolworths succumbs to the five forces
25. Weighing economies of scale
26. Corporate environment as a sixth force
27. Complements as a sixth force (Brandenburger & Nalebuff)
28. PESTEL analysis
Section 5: Tracking Competitive Advantage
29. Rating competitive position
30. The Resource and Capability Strengths/Importance Matrix (Grant)
Example: Cobra Beer’s clever competitive advantage
31. The Value Chain (Porter)
32. The Product/Market Matrix (Ansoff)
33. Cross,Spider and Comb Charts
35. Structured interviewing
Section 6: Targeting the Strategic Gap
36. The Attractiveness/Advantage Matrix (GE/McKinsey)
37. The Growth/Share Matrix (BCG)
38. Profiling the ideal player
39. Identifying the capability gap
Example: Komatsu targets the cat
40. The Strategic Condition Matrix (Arthur D Little)
41. The 7S Framework (McKinsey)
42. The Opportunity/Vulnerability Matrix (Bain/LEK)
44. Scenario planning
Section 7: Bridging the Gap: Business Strategy
45. Three Generic Strategies (Porter)
46. The Experience Curve (BCG)
47. Strategic repositioning and shaping profit growth options
48. Making the strategic investment decision
49. BlueOceanStrategy (Kim & Mauborgne)
Example: Could Facebook be undone the way it undid MySpace?
50. The Tipping Point (Gladwell)
51. The Price Elasticity of Demand (Marshall)
53. The 4Ps Marketing Mix (McCarthy)
54. Product Quality and Satisfaction (Kano)
55. The Hierarchy of Needs (Maslow)
56. The Bottom of the Pyramid (Prahalad & Leiberthal)
57. Business Process Redesign (Hammer and Champy)
Section 8: Bridging the Gap: Corporate Strategy
59. Optimising the Corporate Portfolio
60. Creating Value from Mergers, Acquisitions and Alliances
61. The Corporate Restructuring Pentagon (McKinsey)
62. Creating Parenting Value (Goold, Campbell & Alexander)
63. Core Competences (Hamel & Prahalad)
64. Strategically Valuable Resources (Collis & Montgomery)
Example: Virrce-based strategy
65. Strategically Distinctive Resources (Barney)
66. Distinctive Capabilities (Kay)
67. Distinctive Competences (Snow & Hrebiniak)
68. Dynamic Capabilities (Teece, Pisano & Shuen)
69. Deliberate and Emergent Strategy (Mintzberg)
70. Stick to the Knitting (Peters & Waterman)
71. Profit from the Core (Zook)
72. The Market-Driven Organisation (Day)
73. Value Disciplines (Treacy & Wiersema)
74. Disruptive Technologies (Christensen)
75. Coopetition (Brandenburger & Nalebuff)
76. Growth and Crisis (Greiner)
77. Good Strategy, Bad Strategy (Rumelt)
78. Innovation Hot Spots (Gratton)
79. Strategy as Orientation or Animation (Cummings & Wilson)
80. The Knowledge Spiral (Nonaka & Takeuchi)
81. The Eight Phases of Change (Kotter)
Section 9: Addressing Risk and Opportunity
82. Strategic Due Diligence and Market Contextual Plan Review (Evans)
83. The Suns & Clouds Chart (Evans)
Example: Were the Beatles worth the risk?
84. The Composite Risk Index and the 5x5 Risk Matrix
85. The Risk Management Matrix
86. Expected Value and Sensitivity Analysis
87. Black Swans (Taleb)
88. Strategy Bets (Burgleman & Grove)
References and Further Reading