Open Strategy: Mastering Disruption from Outside the C-Suite

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Description

How smart companies are opening up strategic initiatives to involve front-line employees, experts, suppliers, customers, entrepreneurs, and even competitors. Why are some of the world's most successful companies able to stay ahead of disruption, adopting and implementing innovative strategies, while others struggle It's not because they hire a new CEO or expensive consultants but rather because these pioneering companies have adopted a new way of strategizing. Instead of keeping strategic deliberations within the C-Suite, they open up strategic initiatives to a diverse group of stakeholders-front-line employees, experts, suppliers, customers, entrepreneurs, and even competitors. Open Strategy presents a new philosophy, key tools, step-by-step advice, and fascinating case studies-from companies that range from Barclays to Adidas-to guide business leaders in this groundbreaking approach to strategy. The authors-business-strategy experts from both academia and management consulting-introduce tools for each of the three stages of strategy-making- idea generation, plan formulation, and implementation. These are digital tools (including strategy contests), which allow the widest participation; hybrid digital/in-person tools (including a "nightmare competitor challenge"); a workshop tool that gamifies the business model development process; and tools that help companies implement and sustain open strategy efforts. Open strategy has an astonishing track record- a survey of 200 business leaders shows that although open-strategy techniques were deployed for only 30 percent of their initiatives, those same initiatives generated 50 percent of their revenues and profits. This book offers a roadmap for this kind of success.

Reviews

Shortlisted for the Thinkers50 2021 Strategy Award Shortlist

Included in the Best Business Books of 2021 by the Globe & Mail

A Financial Times Best Business Book of the Month

Strategy + Business Best Business Books 2021, Strategy


[A]substantive and eloquent book...Open strategy is more than a set of tactics or tweaks to an existing strategy. The authors set out the approach with such granularity and clarity that it is immediately actionable.
Strategy + Business

"A useful blueprint."
Financial Times

"Strategy is usually a closed, top-down affair, as a small group defines a new approach and, too often, it flops. The four professors share a different approach, opening key aspects of strategy-making up to front-line workers, others in the ranks, and even outsiders, tapping into differing perspectives and building enthusiasm for implementation."
The Globe & Mail

". . . fascinating examples and evidence with step-by-step frameworks and tools for crowdsourcing, strategy jams, contests and competitions all designed to garner wide perspectives and diverse thought in service of innovation."
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Author Bio

Christian Stadler is Professor of Strategic Management at Warwick Business School at Warwick University. Julia Hautz is Professor of Strategic Management at the University of Innsbruck. Kurt Matzler is Professor of Strategic Management at the University of Innsbruck, Academic Director of the Executive MBA program at MCI in Innsbruck, and Partner at the international management consulting firm IMP. Stephan Friedrich von den Eichen is Managing Partner at IMP and Professor of Business Model Innovation at the University of Bremen.