Strategy Book Reviews and Five Product Strategy Plans

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Strategy Book Reviews and Five Product Strategy Plans The goal of this paper is to provide key insights and concepts from three strategy books and then begin the strategy planning process for five different products. The three books shy away from advocating old school Porter’s concepts and instead recommend strategic innovation since modern market environments are dynamic. Book 1: Thinkers 50 Strategy Crainer and Dearlove (2014) discuss the evolution of strategy concepts from early military strategists (Sun Tzu) to more recent influential works such as Michael Porter’s ‘Five Forces’, Gary Hamel and C.K. Prahalad’s resource-based ‘Harmonic Strategy’, Richard D’Aveni’s new 7-S framework for hypercompetition, W. Chan Kim and Renée Mauborgne’s ‘Value Innovation’ and ‘Blue Ocean Strategy’, David P. Baron’s ‘Integrated Strategy’ that includes nonmarket strategy and Pankaj Ghemawat’s ‘World 3.0’ for global strategy. Rita McGrath underscores the need for newer strategy techniques: “Today we’re seeing industries competing with industries, different arenas where competition manifests itself. Strategy, entrepreneurship, and innovation are all bleeding into each other” (cited in Crainer and Dearlove, 2014, chapter 1, last para.). Book 2: Strategy in Practice Tovstiga’s (2013) book requests readers to focus on practical strategic thinking rather than only relying on classical strategy theory. Tovstiga (2013) provides three simple high-level frameworks for strategy analysis, ‘value proposition,’ ‘unique competing space’ and ‘opportunity-response’, to answer the pertinent questions of business strategy – where, how, why, what and when (chapter 5). Further, Tovstiga (2013) reviews externally-focused supporting frameworks for strategi... ... middle of paper ... ...kid=54106. MarketsAndMarkets. (2014, April). Patient Monitoring Device / Equipment / System Market… Retrieved on June 5, 2014 from http://www.marketsandmarkets.com/Market-Reports/patient-healthcare-monitoring-systems-devices-market-678.html. Teucrium Trading, LLC (2014). CORN Disclosure. Retrieved on June 5, 2014 from http://teucriumcornfund.com/component/content/article/81. Tovstiga, G. (2013). Strategy in practice: A practitioner's guide to strategic thinking, second edition. Chichester, West Sussex: John Wiley & Sons Ltd. [Books24x7 version] Available from http://common.books24x7.com.ezp-01.lirn.net/toc.aspx?bookid=52875. Wikipedia (2014). Google Glass article. Retrieved on June 4, 2014 from http://en.wikipedia.org/wiki/Google_Glass. Wikipedia (2014). Remote patient monitoring. Retrieved on June 5, 2014 from http://en.wikipedia.org/wiki/Remote_patient_monitoring.

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