Strategic Change and Transformation: Managing Renewal in Organisations

Description

Strategic change and transformation are words used very commonly in business parlance but rarely defined. Besides, change and transformations are often used interchangeably. Thus the correct perspective of viewing change and transformations is missing from management literature. How is change different from transformation? Do all changes lead to renewal? What are the characteristics of strategic changes? This re-addresses some of our current assumptions and understanding of change and transformation when viewed through both academic and business lenses. It is a balanced and well-rounded perspective on how strategic change and transformation can be brought about successfully in organizations specifically with the perspective from an emerging economy like India. Cover Half Title Series Information Title Page Copyright Page Table of contents List of illustrations Preface Acknowledgments 1 Introduction to Strategic Change and Transformation 1.1 How organizations cope with changing environments 1.2 Change versus transformation 1.3 Dealing with the paradoxes References 2 Strategic renewal in organizations 2.1 Strategic change and renewal 2.2 What constitutes strategic renewal 2.3 Characteristics and types of renewal Characteristics Types of strategic renewal 2.4 How organizations can stay ahead by periodic strategic renewal 2.5 Avenues for strategic renewal References 3 Building ambidexterity in organizations 3.1 Organizational ambidexterity 3.2 Exploitation and exploration 3.3 Types of ambidexterity 3.4 Ambidextrous managers and organizations: the challenge 3.5 Patterns of organization evolution Organizational architectures Multiple cultures within the same organization 3.6 The scope of the ambidextrous organization Appendix Effects of metaroutines on multilevel ambidexterity: The case of new product introduction... Findings The new product introduction metaroutine process The concept development stage Engineering development The validation and production testing Start of sales and a final review Structure Tailoring References 4 Dynamic capabilities and renewal 4.1 Evolution of strategic thinking Introduction 4.2 Capabilities and dynamic capabilities References 5 Achieving successful strategic transformation 5.1 Identifying change needs and preparing the organization for change 5.2 The role of leadership 5.3 Tools and techniques for designing and implementing strategic change Seven steps to a new core business How industries change References 6 Cases of companies undergoing transformation Case 1: The strategic shift at L&T—from an engineering and construction company... Introduction Background.note L&T toward the end of the twentieth century L&T at the beginning of the twenty-first century The engineering and construction industry overview L&T’s product portfolio Competitive positioning Strengths Market leadership Diverse range of products and services Unmatched project management skills and technical expertise Focus on learning through partnering Cost control Weaknesses Dependence on domestic operations Leadership.vacuum Substantial amount of debt Competitors and L&T The strategic shift Phases of transformation Moving to high-tech business Phase 1: 2000–2005 Phase 2: 2005–2010 Phase 3: 2010–2015 How L&T preempts its competitors The capability build up journey Domestic opportunities How L&T nurtures alliances Acquiring dynamic capabilities: Promoting ambidexterity The transformation Outlook Notes References Case 2: Eveready Industries: the magic lamp that changed the fortunes Introduction Background note The dry cell battery—industry size and structure Usage Kerosene lamps Kerosene lamp efficiency Performance review (2006–2008) The idea behind the experiment Necessity: The mother of invention The magic lamp: Business model innovation? The.launch Initial response The potential market The product portfolio The challenges Notes References Author index Subject index