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A Dialogue Process for Choosing Value-Creating Strategies

Author

Listed:
  • Samuel E. Bodily

    (Darden Graduate Business School, University of Virginia, Box 6550, Charlottesville, Virginia 22906-6550)

  • Michael S. Allen

    (Strategic Decisions Group, 2440 Sand Hill Road, Menlo Park, California 94025-6900)

Abstract

A decision process has proven effective in three activities that are key to value creation: choosing an excellent strategy, actually bringing about change, and operating effectively with the new strategy. The dialogue is between a decision board and the strategy team as they work through six steps of a decision process. This process is focused on alternatives and implementation and is founded in decision analysis. Strategy frame-works and structuring tools are key to assessing the business situation. Risk and value trade-offs are made explicit, leading to concrete proposals to add value and reduce risk. Explicit plans for action are developed as the strategic alternative is chosen. Companies have developed strategy insights using this process, as we illustrate with examples from the pharmaceutical industry.

Suggested Citation

  • Samuel E. Bodily & Michael S. Allen, 1999. "A Dialogue Process for Choosing Value-Creating Strategies," Interfaces, INFORMS, vol. 29(6), pages 16-28, December.
    • Handle: RePEc:inm:orinte:v:29:y:1999:i:6:p:16-28
    DOI: 10.1287/inte.29.6.16
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    Citations

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    Cited by:

    1. Daniel Owen, 2015. "Collaborative Decision Making," Decision Analysis, INFORMS, vol. 12(1), pages 29-45, March.
    2. Robert F. Bordley, 2023. "Lessons for Decision-Analysis Practice from the Automotive Industry," Interfaces, INFORMS, vol. 53(3), pages 240-246, May.
    3. Donald L. Keefer & Craig W. Kirkwood & James L. Corner, 2004. "Perspective on Decision Analysis Applications, 1990–2001," Decision Analysis, INFORMS, vol. 1(1), pages 4-22, March.
    4. Jeffrey S. Stonebraker, 2013. "Product-Generation Transition Decision Making for Bayer's Hemophilia Drugs: Global Capacity Expansion Under Uncertainty with Supply-Demand Imbalances," Operations Research, INFORMS, vol. 61(5), pages 1119-1133, October.
    5. Jeffrey S. Stonebraker, 2002. "How Bayer Makes Decisions to Develop New Drugs," Interfaces, INFORMS, vol. 32(6), pages 77-90, December.
    6. Jeffrey S. Stonebraker & Donald L. Keefer, 2009. "OR Practice---Modeling Potential Demand for Supply-Constrained Drugs: A New Hemophilia Drug at Bayer Biological Products," Operations Research, INFORMS, vol. 57(1), pages 19-31, February.
    7. Jeffrey S. Stonebraker, 2023. "Case Article—Bayer New Drug Development Decision Making," INFORMS Transactions on Education, INFORMS, vol. 23(3), pages 154-158, May.
    8. A Morton & D Bird & A Jones & M White, 2011. "Decision conferencing for science prioritisation in the UK public sector: a dual case study," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 62(1), pages 50-59, January.

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