xii  Contents

Types of strategies  164

Michael Porter’s generic strategy  164

Generic strategy  164

Cost leadership strategy  166

Differentiation strategy  167

Focus strategy  167

Selection of the strategy  168

Strategic models  168

Michael Porter’s five forces strategy model  168

Porter’s five forces   170

Summary  172

PEST: political, economic, social and technological analysis  173

Overview  173

What are the areas assessed by PEST model?  173

What are the additional areas assessed by PESTLE model?  174

Application of PESTLE model to assess Blockchain use case  175

SWOT: strengths, weaknesses, opportunities and threats  179

Overview  179

Areas assessed by SWOT  179

Application of SWOT on a company’s blockchain use case  179

Blockchain strategy formulation  183

Set up vision and mission  183

Understand the external environment and our position  183

Understand the internal environment and our position  184

Articulate long-term objectives and goals  184

Strategy execution  184

Strategy planning  184

Communication of the objectives and goals  185

Create strategic and transformational

programmes aligned to the strategic plan  185

Define the operating model  186

Program and milestone governance  186

Realignment of human resources to strategic programmes  187

Capability uplift  189

Establish Centre of Excellence  191

Requirements for CoE  191

Steps to establish CoE  192

Benefits of CoE  193

Evaluation of strategy execution  193

Steps for strategy execution evaluation  194

Assess the Blockchain strategy  195