Corporate Strategy in Europe (Fach) / Corporate Parenting (Lektion)
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- CONCEPT 31: THE CORPORATE STRUCTURE TRADE-OFF Global/integrated l Synergies Scale => bargaining power Sharing => Coordination Control Changing => learning Local/fragmented l Responsiveness Complexity => slow Incentives => incongruence Transaction Cost + Governance costs => make or buy decision Inertia
- CONCEPT 34: ORGANIZATIONAL CHALLENGES 1920 Functional structure FORD 1950 Divisionalization = > decentralization GM 1960 Diversification = > growth/resources 1970 Portfolio Planning = > prioritization GE 1980 Restructuring: focus on perceived shareholder value => market forces/information 1990 Core business: focus on core competence/people FORTIS 2000 Innovation: build capabilities to react to environmental changes => opportunities 2010 Sustainability : how to maintain/boost “licences to operate” = planet L'ORÈAL
- CONCEPT 32: DRIVERS OF INNOVATION CULTURE => Organizational Preparedness for Corporate Entrepreneurship Leadership/vision (Strategy and Style – clear priorities, capabilities, involvement, risk aversion... => management support Formal policies and standards (open innovation, IP rules, knowledge and idea management, resources and rewards ...) Formal decision making process and responsibilities => Structure; layers, centralization, work discretion People => Staff and Skills; education and training, communication performance measurements and incentives Informal characteristics => shared values; climate, culture, networks External pressures => reputation, competition, time availability, resources
- CONCEPT 32: ORGANIZATIONAL CULTURE The way we do things here Pattern of shared basic assumptions the group learned as it solved its problems of external adaptation and internal integration that has worked well enough to be considered valid taught to new members as the correct way to perceive, think, and feel in relation to those problems ( “rules of conduct”, vocabulary, methods, rituals, myths, ...). ⇒ Trust => collective responsibility vs. competition ⇒ Risk taking => learning from mistakes ⇒ Accessibility and interactions with management
- CONCEPT 31: LEVELS OF CENTRALIZATION l Decentralized federation Strategic approach : Multinational Key strategic capability :National responsiveness Configuration :Decentralized Role of foreign businesses :Capturing local opportunities Knowledge management :Local Example: Carrefour, Europe
- CONCEPT 33: CORPORATE CENTER VALUE ADD The architect: Corporate development Current business + Market opportunities Value of new business within organization > stand-alone value Tools: BCG, GE Matrix 2.The coach: Corporate Suppoer 1. Management support: GE - CoE & Business Partner Talent (insights, culture, experience, vision) Budget Business strategy reviews Investments decisions 2. Shared services: LVMH (Design is regional but Marketing global) SSC: CEO, Human resources, Finance, Legal, R+D, IT 3. Corporate coordination Aligned resources l tangible resources + intangible resources (Replication) Consistent positioning l value propsitions Integrated activities l value chain => GSK worldwide centres of competence in RS, Internal Training Goldman Sachs
- CONCEPT 34: CO-EVOLUTION Co-evolution: When changes in at least two species' genetic compositions reciprocally affect each other’s evolution, coevolution has occurred Alfred Chandler: Structure Follows Strategy (Dupond, GM) => M-Form emerged and co-evolved with the development of the transportation and communication industries => creating the opportunity to manage across time and space => new organizational forms are no more than a derivative of strategy Changes in: Competitive environment Internal capabilities and style Regulation Technology Evolving corporate strategies requires evolving corporate centers - but change itself has limited value Examples: Same business, different cost Estée Lauder > L'Oréal Pepsi > Coca-Cola Carlsberg > Heineken Procter&Gamble >Unilever