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Dear ,
Welcome to the May issue of the Society's newsletter.
There are some who may say creative strategy is an oxymoron and at best the preserve of the advertising agency. But this would be to overlook the fundamental role of strategy, which is to provide a framework for an organisation to think, to manage and, ultimately to lead.
For a firm to achieve its ambition, its vision, its intent or its aspiration requires change or, at the very least, stretch in the way it does things. This is why strategy and innovation are so closely linked. So, creativity is essential to effective strategic thinking.
This month we have already honoured creativity in corporate reporting. Now you can pursue creativity in the discussion threads in the SPS LinkedIn community. Or, you can just reflect on other people's prognosis of creative strategy in Strategy Magazine. Whatever your choice, have a creative month!
Ian McDonald Wood, Chairman
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SPS News
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2010 Strategic Value Awards winners announced
On 28 April the SPS hosted the 2010 Strategic Value in Corporate Reporting Awards - an annual event celebrating those FTSE100 and FTSE250 companies that demonstrate the highest standards of strategy disclosure and commentary in their annual corporate reporting.
Over 120 assembled guests were there to congratulate this year's winners and network with the best in the field of corporate reporting. The event built on the success of previous years, and was bigger and more successful than ever before. You can view photographs from the awards here.
For more details on what made the winners stand out, and what particularly impressed the judges about their corporate reporting, visit the SPS website.
Stephen Haddrill says reporting is clear for communicating strategy
We were delighted that the 2010 Strategic Value in Corporate Reporting Awards were presented by Stephen Haddrill, chief executive of the Financial Reporting Council.
During his speech, Haddrill said: "More and more information does not necessarily mean better and better disclosure - clarity is essential. It is fundamentally important that good reporting gives investors and the public an understanding of what the business is trying to achieve, and that its business model and strategy is clear. The narrative plays a central part in achieving this." Listen to his keynote speech in full
What is the most innovative research methodology you have heard of or used?
Social media mining techniques, a group mindmap, a 'wisdom of crowds' method of evaluating potential new products, a 'brand personality type indicator' and an outcome driven innovation (ODI) approach have all been suggested as possible answers to the question that has been attracting most attention on the LinkedIn Group discussion board this month. What's the most interesting new idea you have come across? Join the debate
Other big questions under discussion include How do you train yourself to start thinking strategically? What is the difference between strategy execution and strategic performance management? And what is the point of accountability?
Join the debate with over 1,400 strategists in the SPS Group on LinkedIn »
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Research and Insight
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The secrets of creative strategy
A tougher funding environment and demands for greater accountability mean that all organisations have to think harder about how to raise working capital. The ease with which best practice and technology can be copied and reverse engineered, and the ubiquity of an internet delivering options from beyond traditional geographic boundaries, means a greater emphasis will be placed on originality and clever targeting of particular markets.
In the latest issue of Strategy Magazine, Chris Bilton and Stephen Cummings argue that good creativity and good strategy stem from closely related approaches. All effective creativity is strategic; and all organisations can be creative. The key is building an organisation in which strategic innovation can flourish.
Read the full article »
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SPS members receive Strategy Magazine every three months
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How do firms make use of open source communities?
Authors Linus Dahlander and Mats Magnusson explore how software firms, operating in a for-profit context, manage their relationships with the external knowledge developed in the very different framework of the free open source software movement and its communities. They use four case studies to trace the ways in which the firms had to adapt the structure of their business plans.
Read the full executive summary »
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SPS members receive Long Range Planning six times a year (worth GBP120 pa). Non-members can buy and download individual articles at Science Direct.
SPS members enjoy access to the online library, with downloadable versions of over 250 articles published in Strategy Magazine and more than 100 executive summaries from Long Range Planning. Find more information on SPS membership benefits.
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Big trouble still ahead?
We are not necessarily out of the woods yet. While the gloom of last year has lessened, and economic indicators are improving there are still plenty of potential pitfalls in the road to real economic recovery. Companies need to keep track, develop contingencies and remain agile.
More information about Shaping Tomorrow »
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SPS members enjoy free access to Shaping Tomorrow (worth GBP95 pa) - an organised database of over 25,000 future, strategy and change management resources, plus a weekly newsletter highlighting ten new trends.
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Events and Workshops
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The Business Performance Summit 2010
The summit is taking place 14-15 June 2010 at the Radisson BLU Scandinavia Hotel, Dusseldorf, Germany.
It showcases the latest strategies and operating tools through a two-day programme, offering performance improvement case studies, including: business performance in converging businesses at Sony Ericsson; the continuing 'Beyond Budgeting' journey at Statoil; and capitalising on 'operational excellence DNA' at GE.
For details of the programme, visit visit the website, email Laurence Allen or call +44 (0)20 7202 7690.
Ashridge Open Programmes
SPS members are entitled to a 10% discount on any of Ashridge's open strategy programmes.
Ashridge has a wide variety of short, residential programmes to help individuals and organisations to achieve their development needs. These programmes focus on blending the practical experience of their faculty with leading-edge business thinking, to inspire and challenge you.
In addition, learning in small classes – typically between 12 and 30 participants – promotes collaboration on your own issues and ensures individual support, enabling all participants to return, better able to transfer learning, to the workplace.
For more details, visit Ashridge. Please quote your SPS membership number when booking.
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