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STRATEGY(1)Session2:ProblemStructuring•Theoryofproblemstructuring•Practicalapplicationby“buildingacase”formultiplepossibleusessuchas–Aproposalyoumake–Anansweryougive–ApositionyoutakeSTRATEGY(2)Theory:StepsinProblemStructuring•First:howdidyouarriveatthispositionandwhyisitofinteresttome?Fourdistinctsub-stepshere:–Businessasusual:Thingsarenormal–Aproblemorcomplicationarises–Anobviousquestionthenarises:E.g.“Whattodoaboutit?”–Inresponsetothisquestionyoudevelopananswer(orapropositionorrecommendation)ComplicationQuestionSomethingwentwrongWhatdowedo?SomethingcouldgowrongHowcanwepreventit?SomethingchangedWhatshouldwedo?SomethingcouldchangeHowshouldwereact?Here’swhatyoumightexpecttofindinitDowefindit?Here’ssomeonewithadifferentpointofviewWhoisright?InthissituationwehavethreealternativesWhichoneshouldwetake?From:B.Minto,ThePyramidPrincipleSTRATEGY(3)StepsinProblemStructuring(2)•Second:captureattentionofreaderordevelopdepthofargument–Establishaquestion,answerit,movetothenextlevelofrefinement.Verticallinkages•PigsshouldbekeptaspetsSTRATEGY(4)StepsinProblemStructuring(3)•Third:convincethereaderordevelopsupportforargument–Inductiveordeductivelogic.Horizontallinkages•Typicalproblems–Overlaps(notmutuallyexclusive)–Gaps(notcollectivelyexhaustive)–Notcommonlyacceptedlogicofordering»Temporal(AbeforeBbeforeC)»Structural(USDivision,EuropeanDivision)»Otherbasicrelationship:»Part/wholeOppositionSimilarityImportanceSTRATEGY(5)TheproblemwithACMEBottle•“ACMEBottle”hasbeenlosingmoney.“Diversified”,ownerof49%ofACME,hasreceivedanoffertosellACMEfor$97million.YouhavebeenhiredtoadviseDiversified’sManagementonwhattodo.Outlinethereportyouwillwrite.Onasinglesheetofpaper:–DefineaccuratelyandclearlytheproblemfacingDiversified.–Breakdowntheproblemintoitscomponents–Specifyonehypothesisthatwouldhelpaddresseachcomponent–DescribethedataandanalysisthatwillconfirmordisconfirmeachhypothesisSTRATEGY(6)IsACMEworthmorethan$97million?ACMEreport:InductiveShouldDudekeepACMEandfocusonsellingvalueaddedproducts?WillasmallincreaseinprofitsbringACMEabove$97million?Doesindustryperformancesuggestthatasmallincreaseisreasonable?Doplayershavetoselleithervalue-addedorcommodityproductstobesuccessful?DoACME’sR&D&qualityresultsmatchthoseofleadingvalue-addedplayers?IsACME’stechnicallyknowledgeablesales-forceamongthemostrespectedintheindustry?ShouldACMEfocusonsellingvalueaddedproducts?AreACME’sresourcesandcapabilitiesbettersuitedtothevalue-addedsector?STRATEGY(7)ACMEreport:DeductiveIsACMEworthmorethan$97million?ShouldDudekeepACMEandfocusonsellingvalueaddedproducts?WillACMErealisegreatervalueifitfocusesoneitherhighvalue-addedorcommodityproducts?WillasmallincreaseinprofitsbringACMEabove$97million?Doesindustryperformancesuggestasmallincreaseisreasonable?Doplayershavetoselleitherhighvalue-addedorcommodityproductstobesuccessful?DoesACME’sunfocusedstrategyresultinhighercosts,lowerpricesandlowprofitability?AreACME’scostandqualitypositionsinlinewithindustryaverage?DoACME’sR&D&qualityresultsmatchthoseofleadingvalue-addedplayers?IsACME’stechnicallyknowledgeablesales-forceamongthemostrespectedintheindustry?DoesACME’sdirectsalesforceandqualityfocuscreatethehighcoststructureofavalue-addedplayer?DohighmarketshareobjectivescauseACMEsalesrepstopriceaslowascommodityplayers?ShouldACMEfocusonsellingvalueaddedproducts?AreACME’sresourcesandcapabilitiesbettersuitedtothevalue-addedsector?Dogainsfromhighpricesforvalueaddedproductsoutweighlossinsalesvolumes?STRATEGY(8)TwowaystodevelopalineofquestioningorapresentationGrouping(inductive)Governingthought•Agroupofindependentthoughtsthatsupportthesameconclusion–Allanswerthesamequestion–“what”,“how”,or“why”–Allsame“type”ofnoun–examples,actions,reasons–CombinetosupporthigherlevelofabstractionArgument(deductive)Governingthought•Alogicalprogressionofthoughts–Frompremise(statementaboutsituation)tocommenttoimplication–Governingthoughtreliesheavilyonimplication+STRATEGY(9)Howcanthisstuffbeusefultous?•Winningsupportforaninitiativeatwork•Crackingacaseataninterview•Workingasaconsultant•WritingareportatLBS•UsingthematerialinthiscourseSTRATEGY(10)Assignment:•WriteaBusinessasUsual/Complication/Questionsequence•Brainstormforanswers•Chooseoneoftheseanswersasyour“overarchinganswer”•Lumptheotheranswersinseparate“bags”•Re-lumpuntilthelogicforthesegroupingsiscleartoyou•Presentyourcasetoyourcolleagues•Isyouranswer:–Aboutstrategy?–Clear?–Simpleenoughtoanswerinthiscourse?–Doesitpassthe“SoWhat”test?Inotherwords,isitnotobviouswithoutanyfurtheranalysis?–Isyourlogicthatsupportsthisanswerclearandconvincingtoyouraudience?–Whatlikelygapsarethere?–Whatlikelyoverlapsarethere?STRATEGY(11)Whatdidwelearntoday?•Theoreticalandappliedperspectivesonhowto:–Setupaproblem–Developitssolutionindepth–DevelopitssolutioninbreadthSTRATEGY(12)Applicationexercise(30’,Taunton)•LogontotheLessonsLearnedBoard•Clickon“managemydiary”andthenon“createmydiary”•Inthe“background”fieldexplainthe“businessasusual”scenarioandthe“complication”•Inthe“question”fieldwriteyourquestionthatfollowsfromthecomplication•Inthe“