Helping Values-Driven Leaders With the Hard Stuff
Ultimately, the corporate strategy needs to clearly and coherently communicate a long-term vision for the corporation, the overall funding approach, the role that each business plays, and the guiding principles that enable investment decisions at the business/market level.
Corporate Strategy Read More »
There are many different types of strategies and there are significant differences between them. Starting today, I want to start looking at some of the more common types of strategies in established corporations and non-profits.
Any given organization will have one top-level strategy. This will set the direction for the entire organization, defining areas of focus and prioritizing investments.
Top Level Strategy Read More »
Although ALDI operates as two independent companies, they have both adopted and maintained the same business model.
ALDI’s generic strategy is low cost leadership. As they have launched operations around the world, and launched into very different businesses, they have maintained this strategy. That is hard to do. Even harder is the consistency with which the companies’ low-cost strategy is implemented from top to bottom within each business.
While large corporations often have a year-long strategy development process, at small organizations, the core of strategic planning can be completed in a few days and a complete strategic plan can be completed within a month.
It’s important to note that whether at a small organization or a large and complex corporation, the process will always be at least as important as the product. Surprises happen (did someone say Covid?). A rich and robust process will provide the framework to make the hard decisions as easy as they can be, even when that means that specific plans must change.
Developing Strategy: Size and Complexity Read More »
At 9:38pm on November 26, 2008, Abdul Rehman Bada and Abu Ali entered the lobby of the Taj Mahal hotel armed with AK-47s and grenades. They opened fire on anyone within sight. For the next three days, the hotel was the scene of mayhem, destruction, and murder.
How did the employees respond? How would the owner of the hotel respond?
Strategy is communicated most powerfully in the very public decisions and actions of leaders. That strategy shapes the decisions and actions of employees as they face challenges (large or small) in the heat of the moment of their work everyday.
The strategy development tools that I talk about at ClearPurpose tend to be qualitative in nature rather than quantitative. In other words, these tools deal with qualities that are difficult to measure using precise numbers. That makes many business decision makers uncomfortable.
The reality is that, while the tools I talk about most are qualitative in nature, there’s serious financial analysis happening behind the scenes in most strategic development efforts in which I’m involved.
Bottom line, when developing strategy, it’s never an either/or decision between qualitative and quantitative tools, but rather a question of how to use both in a manner that makes sense for the decision being made.
Developing Strategy: Qualitative vs. Quantitative Read More »
Strategic projects can begin either from an outside-in perspective or from an inside-out perspective. Either starting approach is perfectly valid, but eventually, the complementary perspective must also be considered.
Developing Strategy: Outside-In vs. Inside-Out Read More »
In my article on Friday, I mentioned white space opportunities. I thought it might be helpful to provide an example to give a sense for how to think about the challenges in pursuing these types of opportunities.
White Space: Sprint Enterprise Mobility Read More »
Yesterday I made the claim that no matter the situation, successful strategic planning efforts often follow a similar five-step process:
That doesn’t mean that all strategic planning efforts are the same.
Today I want to focus on one really important dimension of difference: is this an ongoing strategic planning process, or is it a one-time project?
Developing Strategy: Project vs. Process Read More »
Whether documented by research staff in excruciating detail over weeks, or collaboratively developed in “real-time” by the hands-on leaders of the organization, having a realistic perspective is a critical starting point for developing any strategic plan!
Developing Strategy: The Right Perspective is Essential Read More »