High Performance Companies
Successful Strategies from the World's Top Achievers
Published on 25. August 2011
210 pages
978-0-470-83012-3 (ISBN)
Description
The easy-to-adopt strategies that make companies from Coca-Colato Starbucks perennial over-performers and that you can use,too
High Performance Companies complements the frameworks forstrategy making detailed in many existing books, proposing a numberof rules of thumb (or principles) that companies can consider whenmaking their day-to-day decisions which, in turn, will determinetheir actual strategies. These principles traverse a wide range ofscenarios, such as strategic changes implemented by companies,resource allocation decisions--especially towards buildingdurable assets--and resource acquisition through inorganicmeans.
The book adopts a reader-friendly approach by teasing out thelessons to be found in detailed cases studies from interestingcompanies. The writing minimizes jargon while maintaining rigor,especially with regard to the applicability and relevance of thestrategic principles to different business contexts.
* Cites extensive evidence in support of the proposed arguments,without sacrificing readability
* Combines both short and long case studies within each chapterto demonstrate the general applicability of the principlespresented
* Uses a variety of examples ranging from well-known companiessuch as Coca-Cola, Singapore Airlines, and Starbucks to relativelylesser known companies such as Illinois Tool Work, SAS Institute,and Heng Long Leather to show that the principles presented areapplicable everywhere
Providing valuable new insight into what makes a businesssuccessful and how to replicate this in a company of any size,High Performance Companies is an essential addition to thelibrary of any manager or student of business.
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Person
Since obtaining a PhD degree in Strategic Management from theUniversity of Michigan, Nitin Pangarkar has spent more than15 years teaching Strategic Management in business schools aroundthe world. In addition to his teaching in degree programs, he hasalso addressed several managerial conferences and conductedtraining sessions for blue-chip companies based in the US, Europeand Asia.
Nitin has authored dozens of cases, scores of research articlesin academic journals, articles in newspapers and two books thathave been translated into Mandarin. He serves on the EditorialReview Board of Strategic Management Journal, the mostprestigious journal in the strategic management area.
Content
Foreword xi
Preface xiii
Acknowledgments xv
1 My Motivations 1
Introduction and Positioning 1
Seven Concerns Raised by the Content and Approach of OtherBooks 6
A Book on Strategic Principles: The Idea 11
Approach of the Book 11
Organization of the Book 13
The Final Word 15
2 Discover Diamonds among Coals 19
Resources, Firm Strategy, and Performance 19
Acquisitions Fitting the"Discover-Diamonds-among-Coals" Adage 22
Mittal Steel: Discovering Diamonds amongCoals--Consistently! 25
Building a Global Empire through Acquisitions 27
The Recipe for Success 29
How Mittal Polishes Raw Diamonds 34
The Final Word 37
3 Build Durable Assets 45
Durable Assets and Performance 45
Tiger Balm: Durable Assets Withstand Twenty Years of Neglect52
Pawning the Family Heirloom 55
Restoring the Tiger Balm's Roar through Investments inDurable Assets 56
The Recipe for Success 58
The Tiger Balm Case and Its Implications for a Strategy Based onDurable Assets 59
The Final Word 61
4 Focus on Small Wins 69
Big Hits, Big Flops, and Their Performance Implications 69
Small Wins: An Alternative Route to Superior Performance?72
YKK's Small Wins Lead to Market Dominance 73
The Lincoln Electric Company's Small- Wins- BasedStrategy 76
Illinois Tool Works: Scoring Big with Numerous Small Wins 80
The Four Cornerstones of ITW's Strategy 81
The Final Word 89
5 Integrate to Innovate 97
The Importance of Innovation 97
Innovation Strategies 99
Innovation through Integration 101
SAS Institute: The Consummate "Integrator" 102
Fanuc: Industry Dominance through Integration and Innovation107
Integration of External Knowledge at Fanuc 110
Internal Integration at Fanuc 113
The Final Word 114
6 Advance (Strategically and Competitively) During a Crisis121
Crises as Common Events 121
Top Managers and Crises 123
The Tylenol Crisis and Johnson & Johnson 124
Toyota Fumbles 127
Singapore Airlines (SIA): Proactive Management of Crises 133
SIA's Response to the East Asian Economic Crisis133
The SQ 006 Crash in Taiwan and SIA's Response135
The Final Word 140
7 Beware of the Incremental (Strategic Change)! 149
Importance of Strategic Change and Its Performance Implications149
Mixed Performance Outcomes of Strategic Changes at Starbucks andMcDonald's 151
Strategic Changes and Their Performance Implications atTupperware 156
Tupperware's Social Impact and Performance 156
The Beginnings 158
The Growth Years 159
Innovative Business Model 159
Strategic Changes 161
Putting the Strategic Changes and Their Performance Impactsin Perspective 165
The Final Word 166
8 Strategic Principles in a Nutshell 173
Strategic Principles and Their Relevance 173
Simple yet Powerful 173
Applicability Beyond Large Companies 175
Applicability Across Geographies 177
Some Common Themes (and Factors) Across the Examples 179
CEOs and Top Managers Set the Correct Example 179
A Clearly Conceived Strategy That Often Defies
Conventional Wisdom 180
Long View 181
Managing Risks 182
Careful Attention to Execution or Implementation Issues andManagement of People Resources 183
In Conclusion 184
Index 189
