Early Warning: Using Competitive Intelligence to Anticipate Market Shifts, Control Risk, and Create Powerful Strategies by Ben Gilad, 2004 AMACOM
Chapter 5: Identifying Risk (and Opportunities) - pp 67 to 87
- If a company waits until everyone is certain about the direction of change in its environment and its effect, it is a sure dissonance failure's.
- Forces affecting a company and its industry must be monitored continuously to identify early signs of risk.
- This involves piecing together bits and pieces of intelligence data.
- Steps involve as below:
- Identify "Change Drivers" (technology/science, govt action, social change & competitors' move)
- Identify "Industry's uncertainties" - what will the future look like?
- Identify "Possible divergence from company's assumptions"
- Identify "Dissonance with company's strategy" (functional policies and pattern of actions)
- Identify "Strategic risk" - which future is most damaging? (expected loss; impact matrix; competitors' relative posture toward event; effect on the industry structure)
- After identifying the above steps, then generate "scenarios"
- Explore "strategic implications, options, and decisions
- Implement monitoring and contigencies
Unlearn
Reinforce previous learning in Strategic Planning & Implementation Module.
Relearn
In preparation for the SALP (group project), review certain chapters in enhancing my knowledge on strategic planning for Pfizer's 5 years plan (2009-2013). This is critical, as important analysis and risk identification need to be carried out before generating any scenarios and options in our project plan.
1 comment:
Very good effort.
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