The Strategic Management of Execution

David J. Collis

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Working Paper | HBS Working Paper Series | 2019

The Strategic Management of Execution

by David J. Collis

Abstract

“Tell me David, is it better to have a great strategy poorly executed or a so-so strategy really well executed?” The age-old question suggests there is a fundamental tradeoff between strategy and execution. The tone in which it is asked typically flags that the questioner already knows the answer—the superiority of execution over strategy. But is this really true? Does, to borrow a phrase, execution eat strategy for lunch?

Keywords: strategy execution; Strategy; Management;

Language: English

Format: Print

10 pages

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Citation:

Collis, David J. "The Strategic Management of Execution." Harvard Business School Working Paper, No. 20-026, September 2019.

About the Author

David J. Collis

Adjunct Professor

Strategy

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Working Paper | HBS Working Paper Series | 2018

The Limitations of Dynamic Capabilities

David J. Collis and Bharat Anand

The concept of dynamic capabilities draws its theoretical basis from two classic traditions within the strategy field—the resource-based view of the firm (RBV) (Wernerfelt, 1984) and market positioning (Porter, 1996). A dynamic capability qualifies as a source of sustained heterogeneous firm performance within the RBV framework because it arises from embedded organizational routines that accumulate in a path dependent process—the “stock” explanation of durable advantage (Barney, 1991). Because such a dynamic capability allows a firm to continually reposition itself in product market space, it satisfies the “flow” explanation of current competitive advantage by ensuring that the firm always maintains a wider gap between willingness to pay and cost than competitors (Brandenburger and Stuart, 1996). Indeed, dynamic capabilities seem to give rise to the enviable ability to “always have a competitive advantage in an attractive industry” and so continually deliver superior financial performance regardless of external circumstances.

Keywords: dynamic capabilities; Business Ventures; Performance; Competitive Advantage;

Citation:
Collis, David J., and Bharat Anand. "The Limitations of Dynamic Capabilities." Harvard Business School Working Paper, No. 20-029, September 2019. View Details

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Working Paper | HBS Working Paper Series | 2019

The Value Potential of New Business Models

David J. Collis

One attempt to regain the ground that strategy has recently lost, which was described in the first article, has been the introduction of “business models” as the precursor to competitive positioning within an industry. Understanding a business model provides a shorthand description of how value is created—although the business model, by itself, does not determine how profitable it will be for any firm: for that we need to examine the complete strategy landscape.

Keywords: Business Model; Value Creation;

Citation:
Collis, David J. "The Value Potential of New Business Models." Harvard Business School Working Paper, No. 20-028, September 2019. View Details

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Working Paper | HBS Working Paper Series | 2019

Why Has Strategy Become Irrelevant? Understanding the Complete Strategy Landscape

David J. Collis

Developing the firm’s strategy was once seen as the most important task facing a CEO. Yet in the last 20 years, the practice of strategy has been relegated to a routinized function—part of the annual planning process, like performance management and succession planning reviews—necessary and useful, but neither vitally important nor the focus of CEO attention. Why has strategy lost its primacy and relevance? And can it recover its exalted position in C-suite discussions?

Keywords: Strategy; Value Creation; Organizational Change and Adaptation;

Citation:
Collis, David J. "Why Has Strategy Become Irrelevant? Understanding the Complete Strategy Landscape." Harvard Business School Working Paper, No. 20-026, September 2019. View Details

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The Strategic Management of Execution

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