Joseph Lampel, the recently appointed Eddie Davies Professor of Enterprise and Innovation Management at Manchester Business School, delivered his inaugural lecture in front of guests from across the world including Eddie Davies CBE.
Professor Lampel tackled the evolving academic discipline of strategy for his address, posing the simple – yet ultimately complex – question of exactly how you form a strategy and best achieve your goals.
He framed his lecture around the ongoing debate between two schools of thought, one that states that businesses should come up with a strong plan and stick with it, and the other that companies need to be far more flexible and accept that strategies can emerge out of different circumstances. “Is strategy successful if the realized strategy is different to the deliberate strategy?” he asked.
Lampel cited the example of Honda’s drive into the US motorcycle market in the 1970s, and how ultimately the company developed a successful strategy by solving problems along the way. He also discussed the significance of creativity in the whole field of strategy, assessing the extent to which one should use off-the-shelf generic solutions or more creative solutions.
After the lecture he was joined on stage for a panel discussion by Adam Scott, Director of Studies at the UK’s Competition Appeal Tribunal, and Commodore Steven Jermy, an offshore renewable energy strategist.