MAH 501 - Lecture 03 - Strategy

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MAH 501 –

Creative Strategies for


Marketing and HRM
Md Rezwan Al Islam

Fall 2023
Course Philosophy

Theoretical

Applied
Course Content

Creative / Creativity
Strategy
(Innovation)

Focus Areas

Marketing HRM
Additional Relevance

Business

Innovation

Design Data
Thinking Analytics
What is Creativity?
https://www.youtube.com/watch?v=MTCOExd0hDk
Innovation
Innovation is in the intersection of

•Customer Desirability

•Technical Feasibility

•Commercial Viability
What is Design?
Design is a combination of

•Form

•Function

•Execution
https://www.youtube.com/watch?v=_WI3B54m6SU
Design Thinking Mindset
1. Optimism

2. Human Centered

3. Embrace Ambiguity

4. Learn from Failures

5. Make it

6. Iterate

7. Collaboration
Tr a d i t i o n a l T h i n k i n g Design Thinking

Avoid Failures Fail Fast

Sustaining Order Taking Risk

Get it right in first time Iterate

Certainty is key Embrace Ambiguity

Thinking Doing

Facts & Number Storytelling

Logic Emotional

Standardization Humanitization
Design Thinking is 50/50 Mix
Design Thinking is combination of
Divergent and Convergent thinking process.
https://www.youtube.com/watch?v=_r0VX-aU_T8
https://www.youtube.com/watch?v=tyUw0h5i9yI
Key Aspects of Strategy

• Choices

• Long term

• Unique position

• NOT GOAL!

• Holistic – NOT one thing but a collection of items encompassing all

• CANNOT be Vague – must be SPECIFIC


A Definition of Strategy

“Strategy is a collection of specific and holistic


set of long-term choices that gives the business a

unique position allowing competitive advantage. ”


Example

“Use EV technology to create luxury high


performance vehicles, in order to attract people to

the segment and grow the size of the market. ”


Organization
Continuous Improvement
Levels of Strategy-Making in a Diversified Company

Corporate-Level Corporate
Managers Strategy

Two-Way Influence
Business-Level
Managers Business Strategies

Two-Way Influence

Functional
Managers Functional Strategies

Two-Way Influence
Operational
managers Operating Strategies

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