In the book “A New Way to Think” Roger L. Martin does a distinction between the classic model of strategic thinking and an alternative for 14 different aspects of the companies.
I have summarized it in a table, so I can review from time to time.
| Classic model | Alternative model | |
| Competition | Holds that corporations compete, and a central job of the corporate level is to organize and control the levels below it. | competition happens at the front line where real customers are served, and that the job of every corporate level above the frontline level is to help the level below it to serve that customer better. |
| Stakeholders | The corporation exists to serve the shareholders and therefore shareholders come first in priority. | Put customers first is what will lead to the success of the corporation—and the enrichment of shareholders. |
| Customers | The corporation should focus on customer loyalty as the key driver of its success. | Unconscious habit is a much more powerful driver of the customer behavior that a corporation should pursue |
| Strategy | focus on asking the question: What is true? | Focus on the logic behind the choice by asking: What would have to be true? |
| Data | In order to be rigorous, one must insist on making data-based decisions. | In one domain of the world, the use of data is correct, but in another it leads to dangerously flawed choices, and there, imagination is critical. |
| Culture | Culture is so centrally important that if it is not conducive to the working of the corporation, those in charge must change culture by mandating a change and/or reorganizing to produce the desired culture change. | Culture can’t be changed by mandating it or formally reorganizing roles and responsibilities. Culture can only be changed indirectly by altering how individuals work with each other. |
| Knowledge | Organize knowledge work the way we organize physical work—on the basis of full-time jobs that are assumed to be permanently involved in performing the same set of activities. | Organize knowledge work and workers around time-bound projects. |
| Corporate functions | corporate functions are there to faithfully execute the strategies of the operating businesses, which are the only units in the corporation that should have strategies. | Corporate functions need strategies to be effective to the same extent that operating businesses do. |
| Planning | Business planning equivalent to strategy-making. | Strategy development is a process of choosing goals and risks rather than one in which you seek to control risks on your path toward a goal you haven’t really examined. |
| Execution | First you formulate or choose your strategy and then you execute or implement it. | No division line between “strategy” and “execution.” Rather, both are identically making choices under uncertainty, constraints, and competition. |
| Talent | Compensation, especially performance-based incentive compensation, is the most critical element in attracting and retaining high-end talent. | Treat each talented employee as an individual with unique needs and desires as the key to attraction and retention. |
| Innovation | Focus of attention and investment should be on creating the innovative artifact, whether product, service, business model, and so on. | The design of the intervention which enables the innovation is of equal importance as the design of the artifact itself. |
| Capital Investment | Place capital investment on the balance sheet at cost (less accumulated depreciation), calculate profitability based on that as denominator, and make decisions based on profitability thus calculated. | Treat assets as what it is worth immediately after being converted from unfettered capital to embedded capital and calculates returns based on that embedded value. |
| M&A | Corporation making the acquisition primarily to gain an attractive asset or capability from the acquired entity. | A key goal in any acquisition should be to provide more value to the acquired entity than the corporation receives from the entity. |
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