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In 2001, Carlsberg became the fourth largest brewer in the world – but that world was increasingly competitive. This chapter explores how Carlsberg's top management team translated its vision into a few critical priorities, their must-win battles – and then cascaded these throughout the organization to create the alignment, energy, and motivation to realize its goals. At the core, its approach was creating not only shared priorities intellectually, but also a strong culture of cooperation. Five key factors underpin Carlsberg's significant improvements in market position and financial returns: (1) walking the talk, (2) communicating constantly on many levels, (3) maintaining a solid grip on reality, (4) embedding the agenda in the core processes of the organization, and (5) the personal commitment and ownership of the CEO.

Over a two‐month period, the editor of this review has searched worldwide for the most interesting and useful media articles on the topic of strategic management for the July/August issue of Strategy & Leadership.

In addition to his own collection of finds, the editor sorted through suggestions by a team of veteran top managers and senior academics for new strategic concepts and actions.

The result is a surprisingly diverse set of media discoveries on such topics as best‐in‐class metrics, the value of an MBA, consumer market evolution, new Internet marketing concepts, price cut traps, must win battles, Google business model innovations, the strategy/design interface.

URL links and references have been provided for the articles so that managers can easily follow up this quick scan of the media by reading the articles in full.

Provides a snapshot of what managers are reading and a guide to trends and fresh thinking.

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Five key factors underpin Carlsberg’s significant improvements in market position and financial returns: walking the talk; communicating constantly on many levels; maintaining a solid grip on reality; embedding the agenda in the core processes of the organization; and the personal commitment and ownership of the chief executive officer.

The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The purpose of this paper is to emphasize the role of talent management (TM) in strategic renewal. Furthermore, the authors extend the existing knowledge on the process of TM implementation by underlining particular activities, which are involved in this process during strategic renewal.

The authors report a qualitative study of a TM program in a Finnish–Swedish Multinational corporation undergoing major strategic renewal. The data consist of 46 semi-structured interviews and secondary data.

The role of TM in the context of strategic renewal is to provide the conditions for the self-initiation and identification of potential change agents and for the development of the talented employees to perform in their roles of change agent. In the context of strategic renewal, TM process consists of identification of key projects to address critical business opportunities and challenges, the identification of talented employees to execute them, and the identification and creation of key positions.

The authors encourage scholars to explore the empirical settings characterized by change and unpredictability in more detail, and thus examine the role of talented employees and TM in other specific contexts. Future studies are also encouraged to study other cultural settings and examine to what degree the process of TM implementation may positively influence attitudes and behaviors of talented employees and, consequently, the overall organizational performance.

This study offers practical advice for top management and HR managers. First, the process of TM implementation during strategic renewal should start with the identification of “must-win-battles” that can have a more profound impact on change. Furthermore, top management should allow and enable motivated potential talented employees to volunteer for the job of aiding company-wide changes. Next, top management should provide the talented employees with the space to come up with novel ideas and conceive new business opportunities. Finally, the importance of transparent and spot-on evaluation criteria should be emphasized.

The study contributes to advancing our understanding of TM and strategic management in practice.

John Antonakis (PhD, Walden University) is professor of Organizational Behavior at the Faculty of Management and Economics of the University of Lausanne, Switzerland. His research is centered on individual-difference antecedents of effective leadership, the measurement of leadership, and the links between context and leadership as applied to neocharismatic and transformational leadership models, and the development of leadership.

Unilever, the giant consumer goods company, needed a new strategy and a new way of executing the strategy to reverse declining sales and profits. This paper describes how the concept of “vitality” inspired a new strategy and a new way of working through the whole organization and how its disciplined implementation over three years revived the company's competitiveness.

Modern strategy execution techniques were used to align the complex global organization and deploy the strategy to every level. Strategic choices were constrained into a one‐page common strategic framework for unity and consistency.

The restriction of strategic choices proved to be popular with executives, creating a sense of common purpose while allowing local interpretation. The disciplined execution process deployed the strategy down through every leadership team, connecting ultimately with the work‐plans of all employees. The successful execution of the strategy led directly to the improvement of sales growth, productivity, margins and cultural cohesion.

The strategy execution methodology and techniques are applicable to any organization but have most relevance to large, complex businesses.

Many research studies have shown that strategy execution is an elusive management practice and that most senior executives are disappointed with their own efforts in this area. This case study shows that disciplined strategy execution can be effective and beneficial.

At any point in time, most companies have a myriad of internal development initiatives in progress, dealing with a broad spectrum of different activities with respect to time horizon, functional areas involved, and actors with different roles and interests.

This chapter sets forth to analyse how to manage this myriad of projects. Two ways of bringing several projects into a meaningful context will be presented. In the first way, a plurality of simultaneous development initiatives is organized in portfolios based on their mutual interdependencies. Four approaches to prioritizing projects in a portfolio will be discussed.

In the second way, a development program is formulated in which a strategic effort should be implemented by means of a number of different projects.

The last section will focus on company development under unpredictable and complex conditions, and we will present a framework for Agile company development.

A key question with which many senior executives struggle concerns the development of future generations of leaders throughout their organizations. Because these senior leaders realize that they cannot personally groom these next generations of leaders, they have started to explore what conditions will make the leaders of the future “emerge.” They face the challenge of creating conditions that simultaneously provide opportunities for people to demonstrate their leadership potential and that keep the current business running well. Day, in Chapter 2 of Part 1 of the book, proposed the social architecture most conducive to such leader development. His social architecture has three main pillars: low power distance, psychological safety, and a learning orientation. The two application chapters in this part of the book presented two ways of building such a social architecture for leader development.

This study of a market-leader in a turbulent hostile telecommunications market uncovers how the competitive context influences strategy-making and cultivates central control that opposes autonomous initiatives. It shows how a highly competitive industry context reduces organizational slack that inhibits autonomy and drives central actions. Strategic initiatives primarily arise as deliberate actions induced by top management. This creates an information gap between ongoing experiences gained by employees operating in the periphery of the organization and the perceptions of decision-makers at the corporate center. In this organizational setting, the authors observe maverick behavior among entrepreneurial individuals that deliberately circumvent the formal rules to turn autonomous initiatives into viable strategic ventures in the best interest of the firm. Where conventional views presume that power delegation and organizational slack are necessary for autonomous strategic initiatives to emerge, the authors find that central control can provoke autonomous rule-breaking maverick behavior among resource-deprived entrepreneurial individuals inside the organization.

The purpose of this paper is to contribute to previous research on intraorganizational power in multinational corporations (MNCs). It shows that a subsidiary manager may use language and acts of translation to resist control from headquarters and to (re)define his and his unit’s power position in a headquarters-subsidiary relationship. It also uncovers the interplay between natural languages and “company speak” as a specialized language.

The paper is based on a single case study of a European MNC undergoing strategic change. The data were drawn from company documents, personal interviews and focus group discussions.

The findings show that actors at both headquarters and in the focal subsidiary employed language and translation to exercise power over meanings; headquarters exerted control over “mindsets” and practices, while subsidiaries responded by resisting these meaning systems. The authors argue that the crossing of language boundaries offers a window onto shifting power positions and micro-politics in the MNC.

The study was limited to a single translation act in a focal headquarters-subsidiary relationship.

From the managerial perspective, any process of communication in a multilingual context needs to be sensitive to power (re)definitions associated with language and translation.

This study sheds light on translation as a political act and hidden activity in the MNC.