Open Strategy

<b>How smart companies are opening up strategic initiatives to involve front-line employees experts suppliers customers entrepreneurs and even competitors.</b><br><br>Why are some of the world&#146;s most successful companies able to stay ahead of disruption adopting and implementing innovative strategies while others struggle? It&#146;s not because they hire a new CEO or expensive consultants but rather because these pioneering companies have adopted a new way of strategizing. Instead of keeping strategic deliberations within the C-Suite they open up strategic initiatives to a diverse group of stakeholders&#151;front-line employees experts suppliers customers entrepreneurs and even competitors. <i>Open Strategy</i> presents a new philosophy key tools step-by-step advice and fascinating case studies&#151;from companies that range from Barclays to Adidas&#151;to guide business leaders in this groundbreaking approach to strategy.<u></u><br>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The authors&#151;business-strategy experts from both academia and management consulting&#151;introduce tools for each of the three stages of strategy-making: idea generation plan formulation and implementation. These are digital tools (including strategy contests) which allow the widest participation; hybrid digital/in-person tools (including a &#147;nightmare competitor challenge&#148;); a workshop tool that gamifies the business model development process; and tools that help companies implement and sustain open strategy efforts.<br> Open strategy has an astonishing track record: a survey of 200 business leaders shows that although open-strategy techniques were deployed for only 30 percent of their initiatives those same initiatives generated 50 percent of their revenues and profits. This book offers a roadmap for this kind of success.