In “Your Strategy Need aStrategy” a book written by the Boston Consulting Group’s Knut Haanaes, MartinReeves and Janmejaya Sinha, they talk about a proven method on how implementthe right strategy approach that fits best your company. The book opens up byidentifying, evaluate and differentiate the business environment. Once businessenvironment is classified, you need to choose the right strategic approach thatwill be most effective in a selected business environment.
Authors give replyto these inquiries through a bringing together structure: The Strategy Palette,a system that ties the business condition and strategic approach together.The authors prescribe that tochoose a vital approach, business condition should be ordered on threemeasurements: Predictability, Malleability and Harshness. These three measurementsare masterminded in five unmistakable business condition, each requiring aparticular way to deal with technique and execution.
The narrative of Novo Nordisk inChina lights up how an organization can exploit by seeking after a procedurethat flawlessly fits the environment. Danish pharmaceutical monster NovoNordisk controls 60 percent of the insulin market in China, which implies thatalmost 60 million diabetes patients are taking Novo items. Novo’s piece of thepie is twice that of its closest rival. How did Novo build up such a solid andlucrative fortress in China? As indicated by the creators, Novo was the keyplayer in forming the market. At the point when Novo came to China in the mid1990s, diabetes mindfulness was low. Novo worked with the therapeutic group,the Chinese Ministry of Health and the World Diabetes Foundation to teach thenation about diabetes. It connected with patients also, settled its firstgeneration site in China in 1995 and a R focus in China in 2002.
Novoperceived the undiscovered capability of the insulin showcase in China andworking with the major stakeholders in the nation could shape the marketfurther to its good fortune.Novo was effective and successfulbecause it was able to implement those three factors in the five businessenvironment: Classical, Adaptive, Visionary, Shaping and Renewal.The First approach for theclassical environment is “be big”. The aggressive environment is predictableand stable, The Competitive advantage is built by the organization’spositioning in the environment. The authors explain how to achieve thisadvantage by being larger in size, differentiate the product and capabilities.
It analyzes the environment, plan the best positioning strategy and takes it inaction. The second Strategy the authors talks about is the adaptive environment.In this environment, what the authors suggest is to” be fast”. Everything can change very quickly, andsuccessful companies are those who can vary their approach and have different strategicchoices, select the right one at the right time. The third is the visionaryenvironment, and the key here is to “be first”. Successful companies have thevision on what is happening in the market and what are its possibility. Theyare the first to build those possibilities and peruse in executing thosevision.