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1. How do we link strategic and operational change?
Answer: Hambrick and Cannella present a 5-step approach:
1. obtain broad inputs at the formulation stage
2. assess obstacles at the formulation stage
3. make early attempts at making small changes using the full array of levers including: resource commitments; policies and programme; structure; people and rewards
4. sell the strategy vigorously to everyone who matters - throughout the organisation
5. fine tune, adjust and respond to unfolding events
Forecasts for groups of items tend to be less accurate than forecasts for individual items because forecasts for individual items don't include as many influencing factors.
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What is a capacity cushion and why would a firm have one?
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