strategic management companies case study

Top 40 Most Popular Case Studies of 2017

We generated a list of the 40 most popular Yale School of Management case studies in 2017 by combining data from our publishers, Google analytics, and other measures of interest and adoption. In compiling the list, we gave additional weight to usage outside Yale

We generated a list of the 40 most popular Yale School of Management case studies in 2017 by combining data from our publishers, Google analytics, and other measures of interest and adoption. In compiling the list, we gave additional weight to usage outside Yale.

Case topics represented on the list vary widely, but a number are drawn from the case team’s focus on healthcare, asset management, and sustainability. The cases also draw on Yale’s continued emphasis on corporate governance, ethics, and the role of business in state and society. Of note, nearly half of the most popular cases feature a woman as either the main protagonist or, in the case of raw cases where multiple characters take the place of a single protagonist, a major leader within the focal organization. While nearly a fourth of the cases were written in the past year, some of the most popular, including Cadbury and Design at Mayo, date from the early years of our program over a decade ago. Nearly two-thirds of the most popular cases were “raw” cases - Yale’s novel, web-based template which allows for a combination of text, documents, spreadsheets, and videos in a single case website.

Read on to learn more about the top 10 most popular cases followed by a complete list of the top 40 cases of 2017.  A selection of the top 40 cases are available for purchase through our online store . 

#1 - Coffee 2016

Faculty Supervision: Todd Cort

Coffee 2016 asks students to consider the coffee supply chain and generate ideas for what can be done to equalize returns across various stakeholders. The case draws a parallel between coffee and wine. Both beverages encourage connoisseurship, but only wine growers reap a premium for their efforts to ensure quality.  The case describes the history of coffee production across the world, the rise of the “third wave” of coffee consumption in the developed world, the efforts of the Illy Company to help coffee growers, and the differences between “fair” trade and direct trade. Faculty have found the case provides a wide canvas to discuss supply chain issues, examine marketing practices, and encourage creative solutions to business problems. 

#2 - AXA: Creating New Corporate Responsibility Metrics

Faculty Supervision: Todd Cort and David Bach

The case describes AXA’s corporate responsibility (CR) function. The company, a global leader in insurance and asset management, had distinguished itself in CR since formally establishing a CR unit in 2008. As the case opens, AXA’s CR unit is being moved from the marketing function to the strategy group occasioning a thorough review as to how CR should fit into AXA’s operations and strategy. Students are asked to identify CR issues of particular concern to the company, examine how addressing these issues would add value to the company, and then create metrics that would capture a business unit’s success or failure in addressing the concerns.

#3 - IBM Corporate Service Corps

Faculty Supervision: David Bach in cooperation with University of Ghana Business School and EGADE

The case considers IBM’s Corporate Service Corps (CSC), a program that had become the largest pro bono consulting program in the world. The case describes the program’s triple-benefit: leadership training to the brightest young IBMers, brand recognition for IBM in emerging markets, and community improvement in the areas served by IBM’s host organizations. As the program entered its second decade in 2016, students are asked to consider how the program can be improved. The case allows faculty to lead a discussion about training, marketing in emerging economies, and various ways of providing social benefit. The case highlights the synergies as well as trade-offs between pursuing these triple benefits.

#4 - Cadbury: An Ethical Company Struggles to Insure the Integrity of Its Supply Chain

Faculty Supervision: Ira Millstein

The case describes revelations that the production of cocoa in the Côte d’Ivoire involved child slave labor. These stories hit Cadbury especially hard. Cadbury's culture had been deeply rooted in the religious traditions of the company's founders, and the organization had paid close attention to the welfare of its workers and its sourcing practices. The US Congress was considering legislation that would allow chocolate grown on certified plantations to be labeled “slave labor free,” painting the rest of the industry in a bad light. Chocolate producers had asked for time to rectify the situation, but the extension they negotiated was running out. Students are asked whether Cadbury should join with the industry to lobby for more time?  What else could Cadbury do to ensure its supply chain was ethically managed?

#5 - 360 State Real Options

Faculty Supervision: Matthew Spiegel

In 2010 developer Bruce Becker (SOM ‘85) completed 360 State Street, a major new construction project in downtown New Haven. Just west of the apartment building, a 6,000-square-foot pocket of land from the original parcel remained undeveloped. Becker had a number of alternatives to consider in regards to the site. He also had no obligation to build. He could bide his time. But Becker worried about losing out on rents should he wait too long. Students are asked under what set of circumstances and at what time would it be most advantageous to proceed?

#6 - Design at Mayo

Faculty Supervision: Rodrigo Canales and William Drentell

The case describes how the Mayo Clinic, one of the most prominent hospitals in the world, engaged designers and built a research institute, the Center for Innovation (CFI), to study the processes of healthcare provision. The case documents the many incremental innovations the designers were able to implement and the way designers learned to interact with physicians and vice-versa.

In 2010 there were questions about how the CFI would achieve its stated aspiration of “transformational change” in the healthcare field. Students are asked what would a major change in health care delivery look like? How should the CFI's impact be measured? Were the center's structure and processes appropriate for transformational change? Faculty have found this a great case to discuss institutional obstacles to innovation, the importance of culture in organizational change efforts, and the differences in types of innovation.

This case is freely available to the public.

#7 - Ant Financial

Faculty Supervision: K. Sudhir in cooperation with Renmin University of China School of Business

In 2015, Ant Financial’s MYbank (an offshoot of Jack Ma’s Alibaba company) was looking to extend services to rural areas in China by providing small loans to farmers. Microloans have always been costly for financial institutions to offer to the unbanked (though important in development) but MYbank believed that fintech innovations such as using the internet to communicate with loan applicants and judge their credit worthiness would make the program sustainable. Students are asked whether MYbank could operate the program at scale? Would its big data and technical analysis provide an accurate measure of credit risk for loans to small customers? Could MYbank rely on its new credit-scoring system to reduce operating costs to make the program sustainable?

#8 - Business Leadership in South Africa’s 1994 Reforms

Faculty Supervision: Ian Shapiro

This case examines the role of business in South Africa's historic transition away from apartheid to popular sovereignty. The case provides a previously untold oral history of this key moment in world history, presenting extensive video interviews with business leaders who spearheaded behind-the-scenes negotiations between the African National Congress and the government. Faculty teaching the case have used the material to push students to consider business’s role in a divided society and ask: What factors led business leaders to act to push the country's future away from isolation toward a "high road" of participating in an increasingly globalized economy? What techniques and narratives did they use to keep the two sides talking and resolve the political impasse? And, if business leadership played an important role in the events in South Africa, could they take a similar role elsewhere?

#9 - Shake Shack IPO

Faculty Supervision: Jake Thomas and Geert Rouwenhorst

From an art project in a New York City park, Shake Shack developed a devoted fan base that greeted new Shake Shack locations with cheers and long lines. When Shake Shack went public on January 30, 2015, investors displayed a similar enthusiasm. Opening day investors bid up the $21 per share offering price by 118% to reach $45.90 at closing bell. By the end of May, investors were paying $92.86 per share. Students are asked if this price represented a realistic valuation of the enterprise and if not, what was Shake Shack truly worth? The case provides extensive information on Shake Shack’s marketing, competitors, operations and financials, allowing instructors to weave a wide variety of factors into a valuation of the company.

#10 - Searching for a Search Fund Structure

Faculty Supervision: AJ Wasserstein

This case considers how young entrepreneurs structure search funds to find businesses to take over. The case describes an MBA student who meets with a number of successful search fund entrepreneurs who have taken alternative routes to raising funds. The case considers the issues of partnering, soliciting funds vs. self-funding a search, and joining an incubator. The case provides a platform from which to discuss the pros and cons of various search fund structures.

40 Most Popular Case Studies of 2017

Click on the case title to learn more about the dilemma. A selection of our most popular cases are available for purchase via our online store .

Thinking strategically

In the late 1970s, Fred Gluck led an effort to revitalize McKinsey’s thinking on strategy while, in parallel, Tom Peters and Robert Waterman were leading a similar effort to reinvent the Firm’s thinking on organization. The first published product of Gluck’s strategy initiative was a 1978 staff paper, "The evolution of strategic management."

The ostensible purpose of Gluck’s article was to throw light on the then-popular but ill-defined term "strategic management," using data from a recent McKinsey study of formal strategic planning in corporations. The authors concluded that such planning routinely evolves through four distinct phases of development, rising in sophistication from simple year-to-year budgeting to strategic management, in which strategic planning and everyday management are inextricably intertwined.

But the power of the article comes from the authors’ insights into the true nature of strategy and what constitutes high-quality strategic thinking. The article is also noteworthy for setting forth McKinsey’s original definition of strategy as "an integrated set of actions designed to create a sustainable advantage over competitors" and includes a description of the well-known "nine-box" matrix that formed the basis of McKinsey’s approach to business portfolio analysis.

Ten years later, a team from the Firm’s Australian office took portfolio analysis a step further. Rather than basing portfolio strategy only on metrics of a business unit’s absolute attractiveness, as suggested by the nine-box matrix, John Stuckey and Ken McLeod recommended adding a key new decision variable: how well-suited is the parent company to run the business unit as compared with other possible owners? If the parent is best suited to extract value from a unit, it often makes no sense to sell, even if that unit doesn’t compete in a particularly profitable industry. Conversely, if a parent company determines that it is not the best possible owner of a business unit, the parent maximizes value by selling it to the most appropriate owner, even if the unit happens to be in a business that is fundamentally attractive. In short, the "market-activated corporate strategy framework" prompts managers to view their portfolios with an investor’s value-maximizing eye.

The evolution of strategic management

Frederick W. Gluck, Stephen P. Kaufman, and A. Steven Walleck

A minor but pervasive frustration that seems to be unique to management as a profession is the rapid obsolescence of its jargon. As soon as a new management concept emerges, it becomes popularized as a buzzword, generalized, overused, and misused until its underlying substance has been blunted past recognition. The same fate could easily befall one of the brightest new concepts to come along lately: strategic management.

In seeking to understand what strategic management is, we have conducted a major study of the planning systems at large corporations. This study is unique in that it attempts to pass judgment on the quality of the business plans produced rather than only on the planning process.

We found that planning routinely progresses through four discrete phases of development. The first phase, financial planning, is the most basic and can be found at all companies. It is simply the process of setting annual budgets and using them to monitor progress. As financial planners extend their time horizons beyond the current year, they often cross into forecast-based planning, which is the second phase. A few companies have advanced beyond forecast-based planning by entering the third phase, which entails a profound leap forward in the effectiveness of strategic planning. We call this phase externally oriented planning, since it derives many of its advantages from more thorough and creative analyses of market trends, customers, and the competition. Only phase four—which is really a systematic, company-wide embodiment of externally oriented planning—earns the appellation strategic management, and its practitioners are very few indeed.

It doesn’t appear possible to skip a step in the process, because at each phase a company adopts attitudes and gains capabilities needed in the phases to come. Many companies have enjoyed considerable success without advancing beyond the rudimentary levels of strategic development. Some large, successful enterprises, for instance, are still firmly embedded in the forecast-based planning phase. You might well ask, are these companies somehow slipping behind, or are they simply responding appropriately to an environment that changes more slowly? The answer must be determined on a case-by-case basis.

Phase one: Financial planning

Financial planning, as we have said, is nothing more than the familiar annual budgeting process. Managers forecast revenue, costs, and capital needs a year in advance and use these numbers to benchmark performance. In well over half of the companies McKinsey studied—including some highly successful ones—formal planning was still at this most basic phase.

Note the word formal. Many firms that lack a sophisticated formal planning process make up for it with an informal "implicit strategy" worked out by the chief executive officer and a few top managers. Formal strategic planning, in fact, is just one of the possible sources of sound strategy development. There are at least two others: strategic thinking and opportunistic strategic decision making (Exhibit 1). All three routes can result in an effective strategy, which we define as "an integrated set of actions designed to create a sustainable advantage over competitors."

Phase-one companies, then, do have strategies, even though such companies often lack a formal system for planning them. The quality of the strategy of such a company depends largely on the entrepreneurial vigor of its CEO and other top executives. Do they have a good feel for the competition? Do they know their own cost structures? If the answer to such questions is yes, there may be little advantage to formal strategic planning. Ad-hoc studies by task forces and systematic communication of the essence of the strategy to those who need to know may suffice.

Phase two: Forecast-based planning

Still, most large enterprises are too complex to be managed with only an implicit strategy. Companies usually learn the shortcomings of phase-one planning as their treasurers struggle to estimate capital needs and make trade-offs among various financing plans, based on no more than a one-year budget. Ultimately, the burden becomes unbearable, and the company evolves toward phase two. At first, phase-two planning differs little from annual budgeting except that it covers a longer period of time. Very soon, however, planners become frustrated because the real world does not behave as their extrapolations predict. Their first response is usually to develop more sophisticated forecasting tools: trend analysis, regression models, and, finally, simulation models.

This initial response brings some improvement, but sooner or later all extrapolative models fail. At this point, a creative spark stirs the imaginations of the planners. They suddenly realize that their responsibility is not to chart the future—which is, in fact, impossible—but, rather, to lay out for managers the key issues facing the company. We call this spark "issue orientation."

The tough strategic issue that most often triggers the move to issue orientation is the problem of resource allocation: how to set up a flow of capital and other resources among the business units of a diversified company. The technique most commonly applied to this problem is portfolio analysis, a means of depicting a diversified company’s business units in a way that suggests which units should be kept and which sold off and how financial resources should be allocated among them. McKinsey’s standard portfolio analysis tool is the nine-box matrix (Exhibit 2), in which each business unit is plotted along two dimensions: the attractiveness of the relevant industry and the unit’s competitive strength within that industry. Units below the diagonal of the matrix are sold, liquidated, or run purely for cash, and they are allowed to consume little in the way of new capital. Those on the diagonal—marked "Selectivity, earnings"—can be candidates for selective investment. And business units above the diagonal, as the label suggests, should pursue strategies of either selective or aggressive investment and growth.

Phase three: Externally oriented planning

Once planners see their main role as identifying issues, they shift their attention from the details of their companies’ activities to the outside world, where the most profound issues reside. The planners’ in-depth analyses, previously reserved for inwardly focused financial projections, are now turned outward, to customers, potential customers, competitors, suppliers, and others. This outward focus is the chief characteristic of phase three: externally oriented planning.

The process can be time-consuming and rigorous—scrutinizing the outside world is a much larger undertaking than studying the operations of a single company—but it can also pay off dramatically. Take the example of a heavy-equipment maker that spent nine person-months reverse engineering its competitor’s product, reconstructing that competitor’s manufacturing facilities on paper, and estimating its production costs. The result: the company decided that no achievable level of cost reduction could meet the competition and that it therefore made no sense to seek a competitive advantage on price.

Phase-three plans can sometimes achieve this kind of dramatic impact because they are very different from the kind of static, deterministic, sterile plans that result from phase-two efforts. In particular, they share the following features:

Phase-three resource allocation is dynamic rather than static. The planner looks for opportunities to "shift the dot" of a business into a more attractive region of the portfolio matrix. This can be done by creating new capabilities that will help the company meet the most important prerequisite for success within a market, by redefining the market itself, or by changing the customers’ buying criteria to correspond to the company’s strengths.

Phase-three plans are adaptive rather than deterministic. They do not work from a standard strategy, such as "invest for growth." Instead, they continually aim to uncover new ways of defining and satisfying customer needs, new ways of competing more effectively, and new products or services.

Phase-three strategies are often surprise strategies. The competition often does not even recognize them as a threat until after they have taken effect.

Phase-three plans often recommend not one course of action but several, acknowledging the trade-offs among them. This multitude of possibilities is precisely what makes phase three very uncomfortable for top managers. As in-depth dynamic planning spreads through the organization, top managers realize that they cannot control every important decision. Of course, lower-level staff members often make key decisions under phase-one and phase-two regimes, but because phase three makes this process explicit, it is more unsettling for top managers and spurs them to invest even more in the strategic-planning process.

Phase Four: Strategic management

When this investment is successful, the result is strategic management: the melding of strategic planning and everyday management into a single, seamless process. In phase four, it is not that planning techniques have become more sophisticated than they were in phase three but that they have become inseparable from the process of management itself. No longer is planning a yearly, or even quarterly, activity. Instead, it is woven into the fabric of operational decision making.

No more than a few of the world’s companies—mainly diversified multinationals that manufacture electrical and electronic products—have reached this fourth phase. Perhaps the need to plan for hundreds of fast-evolving businesses serving thousands of product markets in dozens of nations has accelerated evolution at these companies. Observing them can teach executives much about strategic management.

The key factor that distinguishes strategically managed companies from their counterparts in phase three is not the sophistication of their planning techniques but rather the care and thoroughness with which they link strategic planning to operational decision making. This often boils down to the following five attributes:

A well-understood conceptual framework that sorts out the many interrelated types of strategic issues. This framework is defined by tomorrow’s strategic issues rather than by today’s organizational structure. Strategic issues are hung on the framework like ornaments on a Christmas tree. Top management supervises the process and decides which issues it must address and which should be assigned to operating managers.

Strategic thinking capabilities that are widespread throughout the company, not limited to the top echelons.

A process for negotiating trade-offs among competing objectives that involves a series of feedback loops rather than a sequence of planning submissions. A well-conceived strategy plans for the resources required and, where resources are constrained, seeks alternatives.

A performance review system that focuses the attention of top managers on key problem and opportunity areas, without forcing those managers to struggle through an in-depth review of each business unit’s strategy every year.

A motivational system and management values that reward and promote the exercise of strategic thinking.

Although it is not possible to make everyone at a company into a brilliant strategic thinker, it is possible to achieve widespread recognition of what strategic thinking is. This understanding is based on some relatively simple rules.

Strategic thinking seeks hard, fact-based, logical information. Strategists are acutely uncomfortable with vague concepts like "synergy." They do not accept generalized theories of economic behavior but look for underlying market mechanisms and action plans that will accomplish the end they seek.

Strategic thinking questions everyone’s unquestioned assumptions. Most business executives, for example, regard government regulation as a bothersome interference in their affairs. But a few companies appear to have revised that assumption and may be trying to participate actively in the formation of regulatory policies to gain a competitive edge.

Strategic thinking is characterized by an all-pervasive unwillingness to expend resources. A strategist is always looking for opportunities to win at low or, better yet, no cost.

Strategic thinking is usually indirect and unexpected rather than head-on and predictable. Basil Henry Liddell Hart, probably the foremost thinker on military strategy in the 20th century, has written, "To move along the line of natural expectation consolidates the opponent’s balance and thus his resisting power." "In strategy," says Liddell Hart, "the longest way around is often the shortest way home." 1 1. See B. H. Liddell Hart, Strategy , second edition, Columbus, Ohio: Meridian Books, 1991.

It appears likely that strategic management will improve a company’s long-term business success. Top executives in strategically managed companies point with pride to many effective business strategies supported by coherent functional plans. In every case, they can identify individual successes that have repaid many times over the company’s increased investment in planning.

About the Authors

Frederick Gluck  was the managing director of McKinsey from 1988 to 1994;  Stephen Kaufman  and Steven Walleck  are alumni of McKinsey’s Cleveland office. This article is adapted from a McKinsey staff paper dated October 1978.

MACS: The market-activated corporate strategy framework

Ken McLeod and John Stuckey

McKinsey’s nine-box strategy matrix, prevalent in the 1970s, plotted the attractiveness of a given industry along one axis and the competitive position of a particular business unit in that industry along the other. Thus, the matrix could reduce the value-creation potential of a company’s many business units to a single, digestible chart.

However, the nine-box matrix applied only to product markets: those in which companies sell goods and services to customers. Because a comprehensive strategy must also help a parent company win in the market for corporate control—where business units themselves are bought, sold, spun off, and taken private—we have developed an analytical tool called the market-activated corporate strategy (MACS) framework.

MACS represents much of McKinsey’s most recent thinking in strategy and finance. Like the old nine-box matrix, MACS includes a measure of each business unit’s stand-alone value within the corporation, but it adds a measure of a business unit’s fitness for sale to other companies. This new measure is what makes MACS especially useful.

The key insight of MACS is that a corporation’s ability to extract value from a business unit relative to other potential owners should determine whether the corporation ought to hold onto the unit in question. In particular, this issue should not be decided by the value of the business unit viewed in isolation. Thus, decisions about whether to sell off a business unit may have less to do with how unattractive it really is (the main concern of the nine-box matrix) and more to do with whether a company is, for whatever reason, particularly well suited to run it.

In the MACS matrix, the axes from the old nine-box framework measuring the industry’s attractiveness and the business unit’s ability to compete have been collapsed into a single horizontal axis, representing a business unit’s potential for creating value as a stand-alone enterprise (Exhibit 3). The vertical axis in MACS represents a parent company’s ability, relative to other potential owners, to extract value from a business unit. And it is this second measure that makes MACS unique.

Managers can use MACS just as they used the nine-box tool, by representing each business unit as a bubble whose radius is proportional to the sales, the funds employed, or the value added by that unit. The resulting chart can be used to plan acquisitions or divestitures and to identify the sorts of institutional skill-building efforts that the parent corporation should be engaged in.

The horizontal dimension: The potential to create value

The horizontal dimension of a MACS matrix shows a business unit’s potential value as an optimally managed stand-alone enterprise. Sometimes, this measure can be qualitative. When precision is needed, though, you can calculate the maximum potential net present value (NPV) of the business unit and then scale that NPV by some factor—such as sales, value added, or funds employed—to make it comparable to the values of the other business units. If the business unit might be better run under different managers, its value is appraised as if they already do manage it, since the goal is to estimate optimal, not actual, value.

That optimal value depends on three basic factors:

Industry attractiveness is a function of the structure of an industry and the conduct of its players, both of which can be assessed using the structure-conduct-performance (SCP) model. Start by considering the external forces impinging on an industry, such as new technologies, government policies, and lifestyle changes. Then consider the industry’s structure, including the economics of supply, demand, and the industry chain. Finally, look at the conduct and the financial performance of the industry’s players. The feedback loops shown in Exhibit 4 interact over time to determine the attractiveness of the industry at any given moment. 

The position of your business unit within its industry depends on its ability to sustain higher prices or lower costs than the competition does. Assess this ability by considering the business unit as a value delivery system, where "value" means benefits to buyers minus price. 2 2. See Michael J. Lanning and Edward G. Michaels, 'A business is a value delivery system,' on page 53 of this anthology.

Chances to improve the attractiveness of the industry or the business unit’s competitive position within it come in two forms: opportunities to do a better job of managing internally and possible ways of shaping the structure of the industry or the conduct of its participants.

The vertical dimension: The ability to extract value

The vertical axis of the MACS matrix measures a corporation’s relative ability to extract value from each business unit in its portfolio. The parent can be classified as "in the pack," if it is no better suited than other companies to extract value from a particular business unit, or as a "natural owner," if it is uniquely suited for the job. The strength of this vertical dimension is that it makes explicit the true requirement for corporate performance: extracting more value from assets than anyone else can.

Many qualities can make a corporation the natural owner of a certain business unit. The parent corporation may be able to envision the future shape of the industry—and therefore to buy, sell, and manipulate assets in a way that anticipates a new equilibrium. It may excel at internal control: cutting costs, squeezing suppliers, and so on. It may have other businesses that can share resources with the new unit or transfer intermediate products or services to and from it. (In our experience, corporations tend to overvalue synergies that fall into this latter category. Believing that the internal transfer of goods and services is always a good thing, these companies never consider the advantages of arm’s-length market transactions.) Finally, there may be financial or technical factors that determine, to one extent or other, the natural owner of a business unit. These can include taxation, owners’ incentives, imperfect information, and differing valuation techniques.

Using the framework

Once a company’s business units have been located on the MACS matrix, the chart can be used to plan preliminary strategies for each of them. The main principle guiding this process should be the primary one behind MACS itself: the decision about whether a unit ought to be part of a company’s portfolio hangs more on that company’s relative ability to extract value from the unit than on its intrinsic value viewed in isolation.

The matrix itself can suggest some powerful strategic prescriptions—for example:

Divest structurally attractive businesses if they are worth more to someone else.

Retain structurally mediocre (or even poor) businesses if you can coax more value out of them than other owners could.

Give top priority to business units that lie toward the far left of the matrix—either by developing them internally if you are their natural owner or by selling them as soon as possible if someone else is.

Consider improving a business unit and selling it to its natural owner if you are well equipped to increase the value of the business unit through internal improvements but not in the best position to run it once it is in top shape.

Of course, the MACS matrix is just a snapshot. Sometimes, a parent company can change the way it extracts value, and in so doing it can become the natural owner of a business even if it wasn’t previously. But such a change will come at a cost to the parent and to other units in its portfolio. The manager’s objective is to find the combination of corporate capabilities and business units that provides the best overall scope for creating value.

MACS, a descendent of the old nine-box matrix, packages much of McKinsey’s thinking on strategy and finance. We have found that it serves well as a means of assessing strategy along the critical dimensions of value creation potential and relative ability to extract value.

Ken McLeod  is an alumnus of McKinsey’s Melbourne office, and  John Stuckey  is a director in the Sydney office. This article is adapted from a McKinsey staff paper dated July 1989. Copyright © 1989, 2000 McKinsey & Company. All rights reserved.

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Strategy Case Studies

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Case Studies in Strategic Management

How Executive Input Enables Students’ Development

• Gunther Friedl 0 ,
• Andreas Biagosch 1

TUM School of Management, Technical University of Munich, Munich, Germany

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• Merges theoretical knowledge, strategic thinking and specific analysis with practical business decisions
• Presents a new approach to case studies applied at the TUM School of Management
• Includes two case studies that won the international case writing competition at EFMD

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Table of contents (4 chapters)

Front matter, case: the renewed case seminar.

• Andreas Biagosch

Supporting Companies and Participating Managers in Case Study Presentations

Case: unu gmbh: sharing is caring—a suitable business model for e-scooter in germany.

• Franziska Beck, Michael Krauß, Frieder Weidenbach

Case: UBS—Acquisition of Commerzbank AG as a Possible Growth Strategy

• Fahrudin Abazi, Philipp Deisler, Michael Eisenlauer

Back Matter

• Case Method
• Executive Education
• Business School
• Commerzbank AG

Gunther Friedl, Andreas Biagosch

Andreas Biagosch worked for McKinsey & Company for more than 30 years. He is now member of several supervisory boards of large family firms and lectures at the Technical University of Munich.

Gunther Friedl is a Professor of Management Accounting at the Technical University of Munich and Dean of its Business School TUM School of Management.

Book Title : Case Studies in Strategic Management

Book Subtitle : How Executive Input Enables Students’ Development

Editors : Gunther Friedl, Andreas Biagosch

Series Title : Management for Professionals

DOI : https://doi.org/10.1007/978-3-319-95555-1

Publisher : Springer Cham

eBook Packages : Business and Management , Business and Management (R0)

Copyright Information : Springer International Publishing AG, part of Springer Nature 2019

Hardcover ISBN : 978-3-319-95554-4 Published: 22 September 2018

Softcover ISBN : 978-3-030-07057-1 Published: 08 February 2019

eBook ISBN : 978-3-319-95555-1 Published: 08 September 2018

Series ISSN : 2192-8096

Series E-ISSN : 2192-810X

Edition Number : 1

Number of Pages : XX, 91

Number of Illustrations : 21 b/w illustrations, 45 illustrations in colour

Topics : Accounting/Auditing , Management Education , Innovation/Technology Management , Start-Ups/Venture Capital , Financial Accounting

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Examples of Strategic Management: Learn from Industry Leaders

Welcome to the world of strategic management, where businesses navigate the complex landscape of competition, innovation, and growth. In this comprehensive guide, we'll delve into the fascinating realm of strategic management by exploring real-world examples of how some of the most successful companies and organizations have used strategic thinking to achieve remarkable results.

Strategic management is the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its long-term objectives. It's a critical aspect of business leadership, driving sustainable success and ensuring that companies not only survive but thrive in dynamic markets.

Our journey will take us through various sectors, from technology giants and automotive pioneers to startups, nonprofits, and government entities. By examining both successes and failures, you'll gain valuable insights into the principles and practices of strategic management, allowing you to apply these lessons to your professional endeavors.

So, without further ado, let's embark on this enlightening exploration of strategic management through the lens of remarkable examples from the business world.

Strategy Management

Strategy management is the systematic process of formulating, implementing, and evaluating strategies to achieve organizational goals and sustain a competitive advantage.

Understanding Strategic Management

Before we dive into the captivating examples of strategic management, let's establish a solid understanding of what strategic management entails.

Strategic management is the comprehensive process of defining an organization's direction, making decisions on allocating its resources to pursue this direction and guiding the implementation of these decisions.

It's not a one-time task but rather an ongoing, dynamic process that aligns an organization's internal capabilities with the demands of its external environment.

Key Components of Strategic Management

• Setting Clear Objectives: Strategic management begins with establishing clear, specific, and measurable objectives. These objectives provide a sense of purpose and direction for the entire organization.
• Environmental Analysis: Understanding the business environment is crucial. This includes analyzing industry trends, competitive forces, market dynamics, and potential risks and opportunities.
• Strategy Formulation: Once the organization's objectives are defined and the external environment is assessed, the next step is developing a strategy. This involves determining how the organization will achieve its objectives, often considering factors like differentiation, cost leadership, or niche focus.
• Strategy Implementation: Formulating a strategy is only the first step; implementing it is equally important. This phase involves aligning the organization's structure, processes, people, and culture with the chosen strategy.
• Evaluation and Control: Continuous evaluation and control mechanisms are necessary to ensure that the chosen strategy is producing the desired results. If not, adjustments may be required.

Now that we have a solid foundation in place, let's explore how these principles are put into action with real-world examples of strategic management across diverse industries.

Strategic Management Frameworks and Tools

Strategic management involves the use of various frameworks and tools to analyze, plan, and execute strategies effectively. Understanding these tools is essential for any business professional.

Here are some of the most commonly used ones:

1. SWOT Analysis: A framework that helps organizations identify their Strengths, Weaknesses, Opportunities, and Threats. It's a fundamental tool for strategic planning.

2. PESTEL Analysis: This tool evaluates the Political, Economic, Sociocultural, Technological, Environmental, and Legal factors that can impact an organization.

3. Porter's Five Forces: Developed by Michael Porter, this framework assesses the competitive forces within an industry, helping organizations determine their competitive position.

4. BCG Matrix: It's a portfolio analysis tool that helps organizations assess their product offerings and allocate resources effectively. Products are categorized as Stars, Cash Cows, Question Marks, or Dogs.

5. Balanced Scorecard: This performance measurement framework considers financial and non-financial factors, allowing organizations to track progress toward their strategic goals.

6. Scenario Planning: In an uncertain environment, scenario planning involves creating multiple future scenarios to prepare for various outcomes.

7. Key Performance Indicators (KPIs): These are specific metrics that organizations track to measure progress toward strategic objectives.

The 5 Phases of the Strategic Management Process

Strategic management is a comprehensive and iterative process that guides organizations in making informed decisions, formulating strategies, implementing them effectively, and evaluating their outcomes.

Understanding the various phases of the strategic management process is essential for achieving strategic objectives.

Let's delve into each phase:

Examples of Strategic Management in Action

In this section, we'll delve into captivating examples of strategic management from various sectors. These case studies offer valuable insights into how organizations leverage strategic thinking to thrive in competitive markets, innovate, and adapt to changing circumstances.

Stay tuned as we explore the strategic moves and decisions made by industry leaders that have shaped their success.

1. Strategic Management at Apple Inc.

Our first stop on this tour of strategic management excellence is none other than Apple Inc. Founded in 1976, Apple has become a household name synonymous with innovation and cutting-edge technology.

Apple's Strategic Vision: Apple's co-founder, Steve Jobs, was known for his visionary approach to product development. He famously said, "Innovation distinguishes between a leader and a follower."

Apple's strategic management has been deeply rooted in this philosophy, focusing on creating products that are not just technologically advanced but also beautifully designed and user-friendly.

Key Strategic Moves:

• Product Diversification: Apple started as a computer company, but it didn't stop there. The introduction of the iPod, iPhone, iPad, and Apple Watch showcased Apple's ability to diversify its product portfolio strategically.
• Ecosystem Integration: Apple's ecosystem is a prime example of strategic management. The seamless integration between devices, software (iOS, macOS), and services (Apple Music, iCloud) fosters customer loyalty and increases brand stickiness.
• Retail Strategy: Apple's retail stores are strategically positioned in high-traffic locations, offering not just products but experiences. The design of Apple Stores, along with well-trained staff, creates a unique customer journey.
• Supply Chain Mastery: Efficient supply chain management allows Apple to deliver products to customers promptly. The company's ability to source components globally and assemble them on time is a strategic advantage.
• Brand Image: Apple has meticulously cultivated its brand image as an innovator that challenges the status quo. This strategic positioning has helped Apple command premium prices for its products.

Takeaway: Apple's strategic management demonstrates the importance of a clear vision, innovation, diversification, and a relentless focus on the customer experience.

2. Toyota: Pioneering Operational Excellence

Our next example hails from the automotive industry, and it's none other than Toyota. Toyota's approach to strategic management has revolutionized manufacturing processes and set new standards for operational efficiency.

Toyota's Strategic Vision: Toyota's vision revolves around "delivering better products and better services." Its strategic management is grounded in the philosophy of "continuous improvement" or Kaizen.

• Lean Manufacturing: Toyota pioneered the concept of lean manufacturing, aiming to reduce waste, increase efficiency, and improve quality. The Toyota Production System (TPS) is a renowned example of strategic management focused on operational excellence.
• Global Expansion: Toyota strategically expanded its operations globally, becoming one of the largest automakers in the world. Its diverse product range caters to different markets and customer segments.
• Innovation in Hybrid Technology: Toyota's introduction of the Prius, the world's first mass-produced hybrid car, showcased its strategic commitment to sustainability and innovation.
• Quality Control: Toyota's relentless pursuit of quality and its "stop the line" policy emphasizes its commitment to delivering exceptional products.
• Supply Chain Resilience: Toyota's strategic management includes building a resilient supply chain. This was evident when the company navigated supply chain disruptions caused by Japan's 2011 earthquake and tsunami.

Takeaway: Toyota's strategic management teaches us the importance of operational excellence, continuous improvement, and a long-term commitment to quality and sustainability.

3. Airbnb: Disrupting the Hospitality Industry

Our final example brings us to the world of sharing economy and disruptive innovation—Airbnb.

Airbnb's Strategic Vision: Founded in 2008, Airbnb's strategic vision is to "create a world where anyone can belong anywhere." It disrupted the traditional hospitality industry by leveraging technology to connect travelers with hosts offering unique accommodations.

• Platform-Based Model: Airbnb's strategic management centers on its platform-based business model. It doesn't own properties but provides a marketplace for hosts and guests to transact.
• Global Expansion: Airbnb strategically expanded its presence to become a global platform with listings in nearly every country. This expansion was supported by localization efforts and strategic partnerships.
• User-Centric Design: Airbnb's focus on user experience and design thinking has been a strategic advantage. The platform is user-friendly, with features like reviews, secure payments, and personalized recommendations.
• Community Building: Airbnb strategically built a sense of community among hosts and guests through its branding and initiatives like host meetups and the "Airbnb Community Center."
• Diversification: Over time, Airbnb strategically diversified its offerings beyond accommodations to include experiences and adventures, further enhancing its value proposition.

Takeaway: Airbnb's strategic management illustrates the power of disruptive innovation, platform-based models, user-centric design, and the importance of building a strong community.

4. Amazon: Mastering Customer-Centricity

Amazon, the e-commerce giant founded by Jeff Bezos, epitomizes strategic management in the digital age. Its relentless focus on customer-centricity has propelled it to the forefront of the global retail industry.

Amazon's Strategic Vision: Amazon's vision is "to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online." Their strategic management revolves around leveraging technology to enhance customer experience.

• eCommerce Dominance: Amazon strategically disrupted the retail industry by pioneering e-commerce. They focused on providing customers with vast product selections, competitive prices, and convenient delivery options.
• Amazon Prime: The introduction of Amazon Prime, a subscription service offering free shipping and access to streaming services, was a strategic move that boosted customer loyalty and retention.
• Innovation Hub: Amazon's strategic management includes heavy investments in innovation. They introduced the Kindle e-reader, Amazon Web Services (AWS), and Amazon Echo, expanding their reach into various tech sectors.
• Marketplace Model: Amazon's strategic decision to allow third-party sellers on its platform broadened its product offerings and created a win-win situation for sellers and customers.
• Supply Chain Optimization: Amazon's strategic brilliance extends to supply chain management, allowing them to fulfill orders efficiently. This includes investments in robotics and a vast distribution network.

Takeaway: Amazon's strategic success highlights the significance of customer-centricity, innovation, and adaptability in today's dynamic business landscape.

5. Coca-Cola: Branding Mastery

Coca-Cola, a global beverage giant, is renowned for its strategic management in brand building and marketing. It's a classic example of how a company can turn a product into an iconic global brand.

Coca-Cola's Strategic Vision: Coca-Cola's vision is "to refresh the world in mind, body, and spirit." Their strategic management revolves around creating an emotional connection with consumers through their brands.

• Brand Portfolio: Coca-Cola strategically expanded its brand portfolio beyond Coca-Cola to include a variety of beverages such as Diet Coke, Fanta, and Sprite, catering to diverse consumer preferences.
• Global Reach: Coca-Cola's strategic global expansion made its products available in over 200 countries. This extensive reach bolsters its brand recognition and market presence.
• Marketing and Advertising: Coca-Cola's iconic marketing campaigns, including the "Share a Coke" campaign and memorable Super Bowl ads, showcase its strategic emphasis on advertising and brand promotion.
• Sponsorships and Partnerships: Coca-Cola's strategic partnerships with major sporting events like the FIFA World Cup and the Olympics demonstrate their commitment to associating their brand with positive experiences.
• Product Diversification: Recognizing evolving consumer preferences, Coca-Cola has strategically diversified its product offerings to include healthier options and reduced-sugar beverages.

Takeaway: Coca-Cola's strategic management illustrates the power of branding, marketing, and diversification in building a globally recognized and cherished brand.

6. Netflix: Pioneering Digital Streaming

Netflix, the global streaming giant, is a prime example of a company that strategically disrupted the entertainment industry by transitioning from DVD rentals to digital streaming.

Netflix's Strategic Vision: Netflix's vision is "to become the best global entertainment distribution service, licensing entertainment content around the world." Their strategic management focuses on providing high-quality content to subscribers.

• Content Creation: Netflix strategically shifted from being a content distributor to a content creator. Their original content, like "House of Cards" and "Stranger Things," has garnered critical acclaim and subscriber loyalty.
• Global Expansion: Netflix strategically expanded globally, making its streaming service available in over 190 countries. This global reach is a testament to their strategic vision of becoming a global entertainment powerhouse.
• Data-Driven Personalization: Netflix's strategic use of data analytics enables it to personalize content recommendations for each user, enhancing the viewing experience and subscriber retention.
• Subscription Model: Netflix's strategic decision to adopt a subscription-based model allows it to generate steady revenue and invest heavily in content creation.
• Technology Investment: Netflix's strategic investment in streaming technology ensures a seamless and high-quality streaming experience for subscribers.

Takeaway: Netflix's strategic management highlights the significance of content creation, global expansion, data-driven personalization, and subscription-based revenue models in the digital entertainment industry.

7. Google: Dominating Online Search and Advertising

Google, led by Larry Page and Sergey Brin, is a strategic management powerhouse that transformed online search and digital advertising.

Google's Strategic Vision: Google's vision is "to provide access to the world's information in one click." Their strategic management revolves around organizing information and making it universally accessible and useful.

• Search Engine Dominance: Google's strategic focus on delivering highly relevant search results and a user-friendly interface made it the world's leading search engine.
• Advertising Model: Google's strategic monetization through pay-per-click advertising, primarily through Google Ads (formerly AdWords), revolutionized digital advertising.
• Android Ecosystem: Google strategically developed the Android operating system, powering a significant portion of the world's smartphones and expanding its ecosystem.
• Cloud Services: Google Cloud, part of Alphabet Inc. (Google's parent company), is strategically positioned to compete in the cloud computing market.
• Innovation Ventures: Google's strategic approach to innovation includes projects like Google X, focusing on moonshot technologies like self-driving cars, and Project Loon for internet connectivity in remote areas.

Takeaway: Google's strategic management highlights the importance of search engine dominance, advertising revenue models, ecosystem development, and moonshot innovation.

8. Facebook (Meta Platforms): Connecting the World

Meta Platforms, formerly Facebook, under Mark Zuckerberg's leadership, is a strategic management example that transformed social networking and digital communication.

Meta Platforms' Strategic Vision: Meta's vision is "to give people the power to build community and bring the world closer together." Their strategic management centers on connecting people globally.

• User Base Expansion: Meta strategically expanded its user base by acquiring platforms like Instagram and WhatsApp, diversifying its social media portfolio.
• Advertising Monetization: Meta's strategic monetization primarily relies on targeted advertising, offering advertisers extensive user data for precise targeting.
• Virtual Reality (VR) and Augmented Reality (AR): Meta is strategically investing in VR and AR technologies, envisioning a future of interconnected virtual experiences.
• Metaverse: The strategic focus on building the metaverse, a collective virtual shared space, aims to redefine digital interactions and experiences.
• Data Centers and Connectivity: Meta's strategic investments in data centers and internet connectivity infrastructure support its global operations.

Takeaway: Meta Platforms' strategic management emphasizes user engagement, advertising-driven revenue models, innovation in VR and AR, and the vision of a metaverse future.

9. Nike: Mastering Branding and Innovation

Nike, led by visionary figures like Phil Knight and Mark Parker, showcases strategic brand management and innovation in the sportswear industry.

Nike's Strategic Vision: Nike's vision is "to bring inspiration and innovation to every athlete in the world." Their strategic management revolves around innovation, athlete endorsements, and brand identity.

• Iconic Branding: Nike's strategic branding includes the creation of the famous "Swoosh" logo, making it one of the world's most recognizable brands.
• Endorsement Deals: Nike's strategic partnerships with athletes like Michael Jordan, LeBron James, and Serena Williams bolster brand recognition and aspiration.
• Innovation in Footwear: Nike's strategic focus on footwear innovation, such as Air Max and Flyknit technologies, sets industry standards.
• Marketing Campaigns: Nike's strategic marketing campaigns, like "Just Do It," resonate with consumers and reinforce the brand's message.
• Sustainability Initiatives: Nike's strategic commitment to sustainability includes efforts like "Reuse-A-Shoe," recycling old athletic shoes into sports surfaces.

Takeaway: Nike's strategic management underscores the power of iconic branding, athlete endorsements, product innovation, emotionally resonant marketing, and sustainability in the sportswear sector.

10. Tesla: Revolutionizing Electric Vehicles

Tesla, spearheaded by visionary entrepreneur Elon Musk, represents a paradigm shift in the automotive industry and strategic management.

Tesla's Strategic Vision: Tesla's vision is "to create the most compelling car company of the 21st century by driving the world's transition to electric vehicles." Their strategic management revolves around sustainability, innovation, and disruption.

• Electric Vehicle (EV) Leadership: Tesla's strategic focus on electric vehicles disrupted the automotive industry and accelerated the transition to sustainable transportation.
• Autonomous Driving: Tesla's strategic integration of autonomous driving features, such as Autopilot, showcases a commitment to innovation and safety.
• Gigafactories: Tesla's strategic establishment of Gigafactories globally ensures efficient EV production and battery technology development.
• Direct-to-Consumer Sales: Tesla's strategic approach of selling directly to consumers disrupted traditional dealership models.
• Energy Solutions: Tesla's strategic diversification into solar energy and energy storage with products like Solar Roof and Powerwall demonstrates a broader vision beyond EVs.

Takeaway: Tesla's strategic management exemplifies the transformative power of innovation, sustainability, direct sales models, and diversification into complementary industries.

Examples of Strategic Failures

1. nokia: missed opportunities in the smartphone era.

Nokia, once an undisputed leader in mobile phones, serves as a notable example of strategic failure. While they had a strong market presence, Nokia failed to adapt to the smartphone revolution effectively.

Strategic Missteps:

• Lack of Innovation: Nokia was slow to innovate and adapt to changing consumer preferences. They stuck to their traditional mobile phone models while competitors were developing smartphones.
• Ignoring the Ecosystem: Nokia underestimated the importance of a robust app ecosystem, an area where Apple's iOS and Google's Android thrived.
• Ineffective Leadership: Frequent changes in leadership and organizational restructuring led to a lack of focus and direction.

Takeaway: Nokia's downfall underscores the importance of innovation, adaptability, and staying attuned to market trends, even for industry leaders.

2. Blockbuster: Failing to Embrace Digital Streaming

Blockbuster, a giant in the video rental industry, faced a catastrophic strategic failure due to its inability to embrace digital streaming.

• Lagging Technology: Blockbuster was slow to adopt digital streaming technology and underestimated its potential.
• Failure to Adapt: While Netflix was disrupting the industry with its subscription-based streaming service, Blockbuster clung to its brick-and-mortar rental model.
• Missed Opportunities: Blockbuster had the chance to acquire Netflix early on but declined, which proved to be a costly decision.

Takeaway: Blockbuster's demise highlights the critical importance of staying ahead of technological trends and being open to strategic partnerships.

3. Kodak: Missed the Digital Photography Wave

Kodak, a pioneer in photography, failed to adapt to the digital photography revolution, leading to a decline in its market presence.

• Overreliance on Film: Kodak was heavily reliant on film-based photography and underestimated the shift toward digital photography.
• Failure to Innovate: While they did develop digital camera technology, Kodak didn't effectively commercialize it due to concerns about cannibalizing their film business.
• Lack of Vision: The company failed to envision a future where digital photography would dominate.

Takeaway: Kodak's story emphasizes the importance of continuously innovating and not being afraid to disrupt your business model when necessary.

4. Blackberry: Ignoring the Smartphone Revolution

Blackberry, once synonymous with secure mobile communication, faltered when it failed to adapt to the rise of touchscreen smartphones.

• Innovation Gap: Blackberry's failure to innovate and transition to touchscreen devices left it behind competitors like Apple and Samsung.
• Inadequate App Ecosystem: Blackberry's app ecosystem couldn't compete with the iOS App Store and Google Play Store.
• Complacency: Blackberry's leadership was slow to recognize the competitive threat posed by touchscreen smartphones.

Takeaway: Blackberry's decline underscores the need for established companies to remain agile and innovative in the face of evolving technologies and consumer preferences.

5. Xiaomi: Expanding Too Quickly

Xiaomi, a Chinese smartphone manufacturer, experienced a strategic setback when it expanded too rapidly into international markets.

• Overseas Expansion: Xiaomi aggressively expanded into markets outside China, including India and Europe, which stretched its resources.
• Supply Chain Issues: Rapid expansion led to supply chain challenges, including shortages of products in key markets.
• Brand Awareness: Xiaomi faced challenges in building brand awareness and trust outside China.

Takeaway: Xiaomi's experience emphasizes the importance of measured, sustainable international expansion and the need for strong supply chain management.

These examples of strategic failures serve as cautionary tales, illustrating the significance of adaptability, innovation, foresight, and market awareness in the world of strategic management.

Lessons Learned from Strategic Management Examples

1. innovation is a game-changer.

• Key Lesson: Innovating in products, services, or business models can disrupt industries and create new market leaders.
• Examples: Apple's continuous innovation in consumer electronics, Tesla's pioneering electric vehicles, and Dollar Shave Club's subscription-based razor service.

2. Customer-Centric Approach Pays Off

• Key Lesson: Prioritizing customer needs and preferences can lead to strong brand loyalty and business growth.

Examples: Amazon's customer-centric e-commerce, Airbnb's focus on user reviews and trust, and Warby Parker's "Home Try-On" program.

3. Adaptability is Crucial

• Key Lesson: Being adaptable to changing market conditions and consumer trends is essential for long-term success.
• Examples: Netflix's shift from DVD rentals to streaming, Slack's evolution as a workplace collaboration platform, and Airbnb's expansion into experiences.

4. Effective Marketing Matters

• Key Lesson: Creative and effective marketing strategies can generate significant attention and customer acquisition.

Examples: Dollar Shave Club's viral marketing video, Airbnb's storytelling approach, and Apple's iconic advertising campaigns.

5. Ecosystem Development Drives Growth

• Key Lesson: Building an ecosystem of products, services, or partnerships can enhance value for customers and drive business growth.

Examples: Apple's ecosystem of devices and services, Slack's third-party integrations, and Tesla's Supercharger network.

6. Sustainability is a Competitive Advantage

• Key Lesson: Incorporating sustainability and environmental responsibility into business strategies can attract socially conscious consumers and enhance brand reputation.

Examples: Tesla's commitment to sustainable transportation, Airbnb's Green Hosting program, and Patagonia's eco-friendly practices.

7. Digital Transformation is Inevitable

• Key Lesson: Embracing digital technologies and online platforms is crucial in today's business landscape.

Examples: Amazon's digital retail dominance, Netflix's streaming platform, and Tesla's over-the-air software updates.

8. Diversification Reduces Risk

• Key Lesson: Diversifying product or service offerings can mitigate risk and expand revenue streams.

Examples: Tesla's expansion into solar energy and energy storage, Amazon Web Services (AWS), and Apple's ecosystem diversification.

9. Trust and Transparency Build Loyalty

• Key Lesson: Establishing trust through transparent practices and customer reviews can foster loyalty and credibility.

Examples: Airbnb's user review system, Tesla's commitment to safety and quality, and Amazon's customer feedback-driven improvements.

10. Long-Term Vision is Essential

• Key Lesson: Maintaining a clear and ambitious long-term vision guides strategic decisions and sustains business growth.
• Examples: Amazon's focus on long-term value over short-term profits, Tesla's mission to accelerate the world's transition to sustainable energy, and Apple's dedication to innovation.

These lessons illustrate the diverse strategies and approaches employed by successful companies across various industries.

By studying these examples and applying the core principles to your own business, you can develop more effective strategic management practices and enhance your organization's competitiveness and growth prospects.

In this comprehensive exploration of strategic management, we've dissected a multitude of examples, both successes and failures, from diverse industries. Through these cases, we've unearthed invaluable lessons that can guide businesses towards prosperity and sustainability.

Key takeaways include the paramount importance of innovation, adaptability, customer-centricity, and sustainability.

It's not enough to merely acknowledge these lessons. To thrive in today's competitive landscape, businesses must actively apply strategic management principles. Whether you're a startup seeking growth, a corporate giant aiming to stay agile, or an organization striving for a brighter, more sustainable future, strategic management offers the compass to navigate these endeavors.

Lastly, it's crucial to understand that strategic management is not static; it evolves alongside technology, market trends, and consumer behaviors. The examples we've examined serve as beacons of innovation and adaptation.

As we move forward, new case studies will emerge, reshaping our understanding of effective strategic management. Stay vigilant, stay adaptable, and continue learning from the ever-changing landscape of strategic management.

Tumisang Bogwasi

2X Award-Winning Entrepreneur | Empowering Brands to Generate Leads, Grow Revenue with Business Strategy and Digital Marketing | Founder, CEO of Fine Group

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Nike Strategic Management: The Case Study Essay

Introduction, marketing environment and success strategy, drivers to superior performance, strategic management tools, marketing strategy and international markets, competitive advantage and value creation.

Nike Inc. is an international company based in the United States, which deals with sportswear and other apparels. The company is ranked as the top seller of sports shoe and clothing. Nike was started in 1964 by Bill Bowerman and was originally called Blue Ribbon Sports, but was later changed to Nike in 1978. During that time, its main goal was to produce low cost, high quality shoes for Americans to break Germans control over domestic trade (Nike, Inc., 2009).

Today, Nike not only distributes its products domestically, but also all around the globe. It has market regions in continents such as Asia, Europe, and United States. Besides, Nike has produced many brands such as Nike Skateboarding and Nike Pro. This paper focuses on the Nike Company and the strategic methods and tools that have led to its superior performance.

According to Peters (2009), Nike produces a wide range of products, which are categorized according to their relevant sports. Nike’s first products were track shoes, which were meant for running: the company has managed to design and produce shoes for different games such as baseball, hockey, football, basketball and Cricket.

This is due to the ever-increasing number of customers favoring the company’s products. The latest product that has been produced is the Cricket shoe named as air zoom Yorker (Nike, Inc., 2009). Air Zoom Yorker is better because it is 30% lighter as compared to the one designed by Reebok. Another new product is air Jordan XX3, which is meant for basketball.

Additionally, as a company that relies on collaborative marketing, Nike together with Apple Inc. has designed a product that is able to check runner’s performance through a radio device, which is placed inside the shoe and is connected with the iPod nano. Nike has also produced shoes that contain flywire and lunarlite foam meant to make the shoe lighter.

The Nike+sports brand records the mileage, lost calories, and time used. According to Mintzberg, Ahlstrand, and Lampel (2005), product differentiation and market segmentation form the basis for strategic management in marketing. In this light, meeting customers’ demands has been the strategic objective in Nike’s plan.

Dess and Alan (2006) affirm that the marketing strategy used by Nike is an essential element for its success. It has enticed its customers through advertising with a slogan ‘Just Do It’. Nike has also teamed up with athlete celebrities through sponsorship agreements. It has many elements of advertising such as advertising through television.

The first advert was created by Wieden and Kennedy at New York marathons. Similarly, Nike has also won Emmy Awards for commercial advert. The advert that won the award was based on what an athlete could face if there was Y2K realization on 1 January 2000.

The second commercial advert was called ‘move’, which marked the famous athletes. In product promotions, Nike pays players to wear their products such as t-shirts, shoes and shorts in order to advertise them. Such players include Michael Jordan, and through him, the promotion has boosted Nike’s publicity and sales. It also sponsors many football clubs in Brazil, Netherlands and United States.

Golf players like Tiger Woods and Michelle Wie have also benefited from the sponsorships. Nike also sponsors high school basketball and has developed websites for various sports such as nikerunning.com (Johnson & Scholes, 2008).

However, Nike has faced a tough competition in the market with companies such as Reebok and Adidas, which sell the same products as it does. Reebok has many female consumers, but has a weakness of poor marketing as compared to Nike. It does not always advertise its products on Televisions as compared to other Companies. Nike has tried to capture a big market share of female customers by sponsoring Women’s world cup football, which was held in 1999.

Nike has used the five forces model of competition that determines the industry structure. This model has helped it to deal with external forces such as, new entrants in the market, alternative products or services, bargaining influence of suppliers and buyers and competition and enmity among other competitors (Berman & Evans, 2006).

Onkvisit and Shaw (2004) argues that the risk of new entrants has been a threat to Nike since there are other firms in the clothing and shoe industry that have a potential to produce sportswear shoes and clothes if given a choice. Entry of new entrants has affected the prices because Nike has lowered some of its product costs.

However, the threat has been minimized by government regulations and brand loyalty. Further, Nike avoids extreme rivalry among other competitors because it is a risk to profitability rates. Nike, Inc. considers the bargaining power of the buyers as a threat because strong buyers have the power to lower the products prices and hence raise costs. The buyers are capable of buying in huge quantities and therefore getting a lot of profit while the firm suffers loss (Lynch, 2006).

The company has balanced its products productions and costs to minimize the bargaining power of buyers. Nike has also been able to cope with the bargaining power of suppliers, which poses a threat because the suppliers have power to increase the prices on raw materials. Nike has reliable suppliers who inform the management first upon the increase of costs of raw materials.

Nike has common drivers that produce superior performance. These drivers include people management, which entails realization of the potential of the employees either in groups or in an individual level. The company has come up with a strategy of upholding fairness among the employees, communication and caring for employees (Nike, Inc. 2009).

Through communication, the company ensures that there is a flow of information between the top, middle and higher levels to ensure that every employee’s contribution is taken into consideration. Nike, Inc. also motivates the employees by giving them incentives and rewards to build commitment to promote the organization.

People development enables employees to utilize their potentials and fully contribute to the organization’s goal realization. Rewards and recognitions motivate employees to give their best performance and strive to excel through continuous improvement (Berman & Evans, 2006). Furthermore, Nike has authorized the customer liaison manager to replace customer’s products in case of a complaint. The manager can make decisions without consulting the management.

Johnson and Scholes (2008) assert that leadership is another driver to superior performance, and it entails transforming the organizations direction and instigating others to follow. Leadership is paramount in Nike’s strategic management. Leaders have a stake in realization of the vision, mission and objectives of an organization because they ensure that other employees follow the organizations values. Leadership is developed at top, middle and lower levels in the organization.

Continuous improvement is another driver, which is activated by both customers and employees. In this case, there is feedback from the customers and from the employees and hence customer’s needs are met. Organizations’ processes are improved because customers provide their needs and the employees act and produce products according to customer’s specifications – all the stakeholders gain improvement benefits (Joshi, 2005).

Similarly, customer focus is a driver where a relationship with customers is an important issue. This entails assessing customer’s perceptions about products and acting on their response as soon as they raise an issue of concern about a product. Close relationships with customers benefits all the stakeholders involved. Nike has also employed process focus as a driver for performance improvement. The system performance has to meet the set objectives since it is a key technique (Nike, Inc., 2009).

Another important driver to performance is collaborating with suppliers. This entails relationships between the organization and the suppliers (Lynch, 2006). Nike has recognized suppliers as key for the organization to achieve shared goals while also sharing expertise and knowledge.

Improving on processes allows working with suppliers to share resources and improve performance. Nike applies various communication strategies within all its stakeholders to encourage openness and reliance. When communication flows through all the levels in the organization, it makes it easy for the employee’s ideas to be taken into consideration.

Stimulating innovation and creativity is another driver that has supported Nike to build up competitive products and services. This has been achieved by modifying the organization structure and being involved with product improvement activities. Nike has also managed its assets and resources to improve the effectiveness and efficiency of the organization. Protection of its properties maximizes customer’s value (Mark, 2000).

Onkvisit and Shaw (2004) concurs that measuring performance and benchmarking is another driver that Nike uses for superior performance. By utilizing a balanced score card, it has been able to measure process improvements alongside with the organizations objectives.

The company also monitors performance in other organizations and collect information from existing and future stakeholders. It uses the information to plan for the future, set targets to be achieved within a certain period, and get unique ideas on improvements from other organizations.

Furthermore, Nike employs corporate social responsibility as a driver to superior performance as well as interacting with the society representative. A good example of this is boosting children’s games in the community by sponsoring their sports and provision of uniforms that has Nike’s logo (Nike, Inc., 2009).

Strategic management is a technique that Nike, Inc. has been able to apply to determine how it is performing in its current position and how its future should be. This has greatly helped the managers to lay a plan for the organization and take it where they want it to be. The management employs strategic management components such as vision, environmental analysis, strategy creation, strategy implementation, and strategy assessment (Nike, Inc., 2009).

Nike has set business plans through strategic management in order to assess its business areas. It is a process which managers build strategies to get better results in performance. This involves studying the competitors’ techniques, both in the current and future. The Company has utilized strategic management tools which have supported it to examine itself in the present and perceive how its future will be. Strategic management acts as a road map to show managers the best direction to follow for the organization to be where it is supposed to be (Lynch, 2006). The tools employed for strategic management include mission statement, SWOT analysis, SMART goals and benchmarking.

Mission statements help to make clear how the organization is observed and how it will be perceived in the future. The organization reflects on how it will be different from other competitors like Reebok in the market place. SWOT analysis has been applied to find out the organizations strengths, weaknesses, prospects and risks.

Berman and Evans (2006) affirm that this has supported the organization to take advantage of its strengths and reduce the impact of its weaknesses. SWOT analysis has assisted the management to consider other external factors such as new openings and risks to be avoided.

SMART goals ensure that the goals and objectives laid down are specific, assessable, achievable, appropriate, and timely. SMART goals are essential for Nike’s management because they have enabled the company to get rid of frustrations due to unrealistic goals. The management has been specific to establish whether the set goals have been met.

Measuring enables the management team to gauge whether they are about to reach their goals and if not close to the goals, how much time and work is remaining in order to get there (Mintzberg, Ahlstrand, & Lampel, 2005).

Benchmarking is another tool that is employed to scrutinize and adapt to the best processes from other organizations around the globe. As explained earlier, managers have been able to improve the organizations performance to meet its goals and to be at the competitive edge over its competitors.

Other techniques that have been used in project management include program evaluations; this helps the company to evaluate a project from start to end. This has supported the management to ascertain the time left to for the completion of the projects. Nike utilizes these projects and programs to reach its goals and achieve its objectives.

The Company uses break even analysis technique to decide on the number of products to sell to break even and grow to be profitable. Lynch (2006) says that game theory is applied in the market to conclude how the customers will react and it does this either through increase in prices or introduction of new products.

Financial control techniques like budgets, audits, and financial breakdown are efficient in controlling and balancing the cost of business. Budgets are employed to manage the organizations income and expenditure as well as allocation of resources to different activities and projects.

Nike has many strategic management techniques organized in steps to achieve the laid down goals and objectives. First, environmental scanning is a process that the company employs to collect information from both internal and external environments that has power to influence the organization. This is meant for improving the processes through analyzing competitors, employees, products, and suppliers (Mark, 2000).

After analyzing the environment, strategy formulation is the next step where Nike management takes the best plan among many to accomplish organizational goals and objectives. Through this stage the managers set strategies for business and functional policies. Strategy implementation is taking the best plan and implementing it (Berman & Evans, 2006). Organization structure is devised in this step together with the allocation of resources, hiring of human resource and coming up with a clear decision making process.

Strategy evaluation is the last step where the strategy implemented is assessed to determine whether it is performing well and if it has deviated, and that the best corrective actions are taken. The purpose for the evaluation is to make sure that that the organization goals are met.

In light of this, Nike has been on the global market and has gained competitive advantage on the market. Its marketing managers keep on analyzing the global industries and how competition keeps changing. Trade is increasingly becoming global because of improvement in transport and communication. Nike’s consumers have been able to have access to a wide range of products in their countries. Nike started exporting its products in small amounts, but later increased and reached the export stage. It got more and more foreign orders until it was able to export its products all over the world (Nike, Inc., 2009).

Nike has stayed at international market for a long time and it applies many techniques such as adding new brands. Nike keeps on adding new products such as sports shoe and clothes. The information about the new product is posted on the website (nike.com) where consumers can read. Joshi (2005) asserts that through advertising of the new product, Nike gains an increase in sales because this has brought in new customers who have never bought the current products.

The existing customers have had a variety of the products to choose. Nike combines the new brand and the old ones into an exceptional package as an offer. Nike has also become a valuable resource to its customers by giving them free information about the products. They have assisted their customers to easily get services, fast deliveries, and at low costs.

The company is unique since it produces exclusive and best quality products. They have also promoted the end result of products by telling the consumers about the benefits they will get when they choose to use the products. Nike keeps on changing its marketing strategies due to other aggressive and innovative rivals like Puma, Reebok, and Adidas (Peters, 2009).

Nike’s brands have turn out to be to be very strong as compared to others such as Reebok and Puma. Their secret is brand management because despite selling their products at a higher price, consumers are still willing to pay more money for its brands which are believed to be of high quality with different styles. Due to the strong brand competitive advantage, Nike has been able to increase its market share all over the globe. Its prices are a bit high as compared to other competitors but it has made many sales than those of its competitors.

Nike, Inc. has gained a competitive advantage over its rivals. This is achieved through giving consumers a greater value and offering high quality products. The company has devised superior value over other competitors. Nike, Inc. uses Michael Porters strategies for competitive advantage such as cost leadership, focus, and differentiation (Johnson & Scholes, 2008).

The reason why Nike, Inc. has gained a competitive advantage over other companies is that it undertakes an evaluation process, which involves evaluation of resources, clarification of goals, defining customers and examining competitors.

In evaluation of resources, the company relies on the resources available and plans on how to use them through product offering and resources. In goals clarification, Nike plans on how to achieve its goals and objectives. Defining customer’s strategy entails looking at the products and services that the plans to develop, and is not provided by the other competitors.

This assists Nike, Inc. to determine and communicate to its customers in order to understand their needs and get additional suggestions from them. Examination of competitors helps to identify other ventures targeting a particular market. Through this, Nike compares its strengths and weaknesses with the other competitors (Nike, Inc., 2009).

In this regard, there are many techniques used to achieve a competitive advantage. These techniques include product differentiation, service differentiation, people differentiation, image differentiation, quality differentiation, and innovation differentiation (Lynch, 2006). Product differentiation implies that Nike has a wide range of products. Other competitors have tried to imitate its products but it remains upfront due to its quality and the products are different in styles and consistency.

Peters (2009) argues that in service differentiation, Nike, Inc. offers additional services such as delivery and product return services. This extra service is the one that consumers are after. Information and other instructions about the products are also extra services that attract customers.

People differentiation entails hiring result oriented employees who are better than those in other rival companies. Because employees are intangibles, it is difficult to imitate them as in the case of tangibles. Training employees and paying attention to their needs gives Nike Inc. a competitive advantage.

Employees such as production staff produce quality products, and it is hard for the competitor to know that the competitive advantage is due to employees’ improvement. The competitor may think that the competitive advantage is due to equipments and materials. People differentiation is essential when customers are directly served by the employees. The way employees handle a customer at first time determines whether he will return another time (Berman & Evans, 2006).

Image differentiation is another technique that has been applied by Nike to differentiate its brand image from other competitors. A negative image can destroy the company’s image within a short time. As Nike undertakes many activities, it supports its image because the “Nike” mark symbolizes good, and it is easy to identify. In quality differentiation, Nike sells high quality products to its customers. Innovation differentiation entails process innovation.

Process innovations reduce the costs of production and the competitors may take time to discover what the company is doing to gain competitive advantage (Nike, Inc., 2009). Nike strives to sustain its competitive advantage because it is not long lasting. This sustainability is achieved through giving value to customers, creation of non-imitable products, which may not be copied by its rivals, and production of products that cannot customers cannot substitute easily.

In selecting a competitive advantage, Nike, Inc. selects ways of making products that competitors cannot imitate easily because the management understands what its customers needs are.

The company has realized that variety is totally different from differentiation. Nike has strived to stay at the competitive edge because of its efforts and strategies. It has faced many challenges since other competitors have tried to copy it through successful advantages for their business in the dynamic market place. Thus, establishing the market edge is important as well as maintaining it (Mark, 2000).

There are many ways that Nike has attracted its customers for value creation. Customer incentive programs are one of the successful programs within the organisation (Nike, Inc., 2009). Nike offers give away to customers, tickets, sales, sponsorships and discounts. Nike sponsors many players in different sports.

Such players who have benefited from sponsorships include; James Blake and Roger Federer. It also sponsored Indian cricket team for a period of five years and national soccer clubs in countries like India, Netherlands and Malaysia. Top golfers like Tiger woods and Lucas Glover has also benefited from Nike’s sponsorships.

Moreover, Nike has retained both traditional and non-traditional methods of distribution in over 100 companies, but it focuses more on its primary market regions. Apart from product diversification, Nike has diversified supply chain and manufacturing due to international economic crises and other risks. It has many contracted suppliers outside the United States, including Vietnam and Thailand. There are other contractors who manufacture its products in over 35 countries.

In the year 2003, China manufactured 38%, Indonesia 27%, Vietnam 18% and Thailand 16%, while the rest was manufactured by other countries. This has enabled Nike to make large amount of sales. Supplier diversity has also increased its competitiveness in the market and it continues to contract more suppliers in many countries because it believes that supplier relationship is vital.

Nike Inc has also employed value creation as a management goal. Creating value for consumers has increased sales as well as the shareholders through the increase in stock price. Value creation is characterized by brands, people and innovation (Mintzberg, Ahlstrand, & Lampel, 2005). Nike, Inc. has prioritized value creation in its decision-making. This has helped the managers to know where and how to build the companies capability to attain profitable and lasting growth.

Mark (2000) agrees that through value creation, the company has been able to understand the basis and drivers of value creation in the business and market place. They have realized that the consumers value high quality and timely delivery of products and so the processes that lead to the delivery of high quality products are greatly valued. Some of the customers have valued innovation and so the processes involved in creation of new products are also highly valued.

Value creation also entails product and process innovation as well as knowing the consumers needs. Nike, Inc. has also realized that value for employees is essential since they feel motivated and work hard to produce better results. Therefore, proper treatment of the employees and involving them in decision-making creates value.

Nike has awarded and promoted managers who have defeated the other competitors like Puma in value creation. In this case the managers have positioned capital better than the other competitors. Nike has gained an advantage in developing the organizations ability to get more profits and future growth.

Other companies that have achieved the benefits of value creation are Coca-Cola and the Lloyds banks. These companies applied value creation as a technique and have realized growth and increase in their profitability. In acquisitions, Nike has acquired Upscale Footwear Company, surf apparel company, Hurley international and converse Inc. It has sold some of its subsidiaries such as Bauer Hockey and Starter (Nike, Inc., 2009).

Nike, Inc. has achieved its superior performance, mostly through competitive positioning and value creation. This has been achieved through advertising, brand name recognition, product innovation, and striving to be at the competitive edge despite having a stiff competition.

Nike employs many strategies and techniques such as strategic management tools and models, product differentiation, and proper distribution channels. Many consumers have realized the uniqueness of their products and recognize them through the trade name ‘Just Do it’ and Swoosh Logo. They have maintained customers because of their high quality products and unique marketing strategies.

Berman, B. and Evans, J. (2006), Retail Management, A strategic Approach , London: Prentice Hall.

Dess, G. L. and Alan, B. E. (2006), Strategic Management: Text and Cases. Boston: McGraw-Hill Irwin.

Johnson, G. and Scholes, K, (2008), Exploring Corporate Strategy , (8th edn), London: Prentice Hall.

Joshi, R. M. (2005), International Marketing , New York: Oxford University Press

Lynch, R. (2006), Corporate Strategy , (4 th edn) London: Prentice Hall.

Mark, M. H. (2000), Creating Public Value: Strategic Management in Government, Cambridge: Harvard University Press.

Mintzberg, H., Ahlstrand, B. and Lampel, J. (2005), Strategy Safari: A Guided Tour Through the Wilds of Strategic Management , London: Prentice Hall 11.

Nike, Inc. (2009), Annual Report on Form 10-K , [pdf]. Available at: < http://media.corporate-ir.net/media_files/irol/10/100529/AnnualReport/nike-sh09-rev2/docs/Nike_2009_10-K.pdf > .

Onkvisit, S. and Shaw, J. (2004), Process International Marketing. International Marketing: analysis and strategy , (4 th edn), OH: South-Western College Publishing.

Peters, J.W. (2009), The Birth of ‘Just Do It’ and Other Magic Words. August 19. The New York Times .

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IvyPanda. (2022, July 31). Nike Strategic Management: The Case Study Essay. https://ivypanda.com/essays/strategic-management-the-case-of-nike-inc/

"Nike Strategic Management: The Case Study Essay." IvyPanda , 31 July 2022, ivypanda.com/essays/strategic-management-the-case-of-nike-inc/.

IvyPanda . (2022) 'Nike Strategic Management: The Case Study Essay'. 31 July.

IvyPanda . 2022. "Nike Strategic Management: The Case Study Essay." July 31, 2022. https://ivypanda.com/essays/strategic-management-the-case-of-nike-inc/.

1. IvyPanda . "Nike Strategic Management: The Case Study Essay." July 31, 2022. https://ivypanda.com/essays/strategic-management-the-case-of-nike-inc/.

Bibliography

IvyPanda . "Nike Strategic Management: The Case Study Essay." July 31, 2022. https://ivypanda.com/essays/strategic-management-the-case-of-nike-inc/.

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