Every company reemerging from the lock downs must establish a new baseline. For many management teams going back to the strategy drawing board the first question is: Which consumer and business behaviors have changed for good and how should we adapt? Good strategy is always grounded in the particulars of a company and the specifics
As companies begin to reemerge from the Corona crisis, many management teams will go back to the strategy drawing board. The first impetus will defensive, but in times of crisis we tend to overestimate the speed and magnitude of change in fundamentals such as consumer needs and desires. More often, what changes is competitor capabilities
The strategy process is being democratized. More and more management teams are opening the strategy process for broader organizational involvement and input. It’s a positive trend that alleviates real deficiencies in the old top-down paradigm. First, you increase the odds of getting insights about customers, competitors and the inner workings of your company that are
The best way to predict the future is to create it. Step back and consider what your business could look like in 5-10 years.
Disciplined execution increases your capacity to seize and follow through on new opportunities and double down on existing ones. It’s a positive sum game.
As corporate stewards many of us are conditioned to play defense. Looking ahead however, playing it too safe will be the safest predictor of stagnation and decline.
In fact, the way we think and work has more in common with global macro investors and venture capitalists than with traditional management consultants.
Execution that is not guided by strategic perspective and choice is a ship without a compass.
Business is an open-ended infinite game, and best practices only transfer in finite, rule-based games like chess. Know thyself is a virtue as important and valuable for businesses as it is for individuals.
Many strategy processes suffer from a lack of preparatory thinking and alignment, but if you don’t ask and align, you’re asking for trouble.
An insightful reframing of your situation can create whole new patterns of advantages and weaknesses.