GM Strategy Research Center
Why Strategy Is Important Today
The single most important challenge facing American organizationsis the development of effective strategic management. Effective strategic management includes a global external orientation, clear business segmentation, an intimate understanding of strategic marketing and competitor analysis, a focus on appropriate measuresof performance, systematic resource allocation, and a supporting organization structure and culture. The development of strategic management systems with these components will facilitate American organizations to compete effectively both domestically and internationally.
KGSM's Approach to Strategy
KGSM's approach to strategy emphasizes the importance of both strategy formulation and strategy implementation. The best developed strategies will have little impact unless there is a supporting organization structure and culture to facilitate implementation. KGSM has particular expertise in strategic marketing, competitor analysis, financial analysis, shareholder value approach to measuring performance, and implementing strategic change.
Role of the Strategy Research Center at Kellogg
The Strategy Research Center supports research that addressesboth the strategy formulation process and the strategy implementation process. In addressing the strategy formulation process, the following are examples of the kind of research questions that are addressed:
- How is the strategic decision making process initiated? How do managers identify a need to alter their strategy?
- How do organizations learn about changes in their marketsand then change their strategies?
- What are the components of the diversification process and what factors in the market trigger an organization a decision to diversify?
In examining strategy implementation, the following are examplesof research questions:
- What are the components of strategic change?
- What determines effective strategy implementation?
- What is the role of corporate culture in strategy implementation?
- What impact do incentive systems have on strategy implementation?
- How do we measure effective strategies?
Strategy research requires extensive field work given its empirical nature. Therefore, funds are needed to support faculty release time, field work expenses, and doctoral student support. A strong cadre of doctoral students is needed to support strategy research in that they are needed to help in the extensive field work.
The Center is also important in KGSM's ability to attract and retain faculty in this area. At present Columbia, Harvard, Wharton, and Minnesota, among others, have strategy centers.
The outputs from the Center contribute to both the academic community and the practitioner community. Center support leads to greater productivity that enhances KGSM's academic reputation. Center research also generates usable knowledge for the practitioner. This also enhances KGSM's reputation with the professional management community, which is crucial for a professional school.
GM Strategy Center's Working Papers