Strategy Blog

Ever say to yourself, “Wow, they don’t understand me at all!” That happens a lot in business, and often we ascribe negative attributes to someone who fits this description. We think: they’re not listening; they’re too busy talking; or they’re so full of themselves. But failing to pay attention is not always because the other person is not listening or a jerk. Sometimes it’s because our brains are wired so differently than our teammates that the message we are delivering confuses them....

Corporate strategy formation is poorly performed today. Recent surveys indicate only 50% of strategies have a positive impact. Many of our leading corporations like J & J, Motorola and Kodak have selected a strategic pathway, only to find success stymied. Some companies, like Blockbuster, failed to survive their strategic blunders. These mistaken strategies were not developed by stupid people. Rather, case after case shows that poor strategies were driven largely by ineffective social...

One reason many executives resist strategic activity is their concern over the activity’s wasted effort. They feel strategy setting requires the company’s most expensive employees to step away from operational activity and sit for hours reviewing fancy PowerPoint presentations developed over countless hours by analyst drones. These business executives are bombarded with so many versions of slideshow graffiti that it is difficult to discern the facts, or even stay awake. As a result, many...

In 1878, Thomas Edison began his experiments to invent the incandescent light bulb. Not until October of 1879 was he able to conduct his first successful test. Edison later commented, “I never considered my attempts as failures; I just found 10,000 ways not to make a light bulb.” While I’m sure you’ve heard this story before, have you ever wondered how Edison identified 10,000 ways? It seems to me Edison’s approach applies to business strategy formation. The answer is really quite simple....

The problem. According to a recent PriceWaterhouseCoopers report, 80% of lost company value is the result of poor strategy, not operational errors. Other studies indicate that half of all executives believe that they are implementing a poor strategy. These facts beg the question, “Why would we executives allow our company to implement a strategy that we don’t believe will benefit the company?" The solution. I believe there are three keys to improving on these statistics and developing an...

Most executives believe that by collecting data about their strategic challenge, using their own business knowledge, and applying some logic will guide development of a successful strategy. But if that is all that is required, why do so many company strategies fail? Certainly, the management teams of Blockbuster (missed Internet video rental market), General Motors (over-reliance on robotics manufacturing before the technology was effective) and Samsung (misguided entry into automobile...

From living in Australia for six years, my family and I have become fascinated with the Tasmanian Tiger. It would not be surprising if you’ve never heard of it because the “marsupial wolf” was classified as extinct before 1940. One of only two known carnivorous marsupials, it measured about 4 feet long (excluding the tail), 2.5 feet high and weighed about 50 pounds. Originally prevalent throughout Australia, by the time Europeans settled the continent this animal’s territory was restricted to...

It seems every CEO I speak with knows that company strategy is important and it is their job to ensure a successful one is in place. But developing the optimal strategy appears to be elusive for many. Sometimes this lack of success occurs because companies have not established a strategy formation process. If this sounds like your company, follow these 7 steps as a springboard to a more effective business strategy. Make sure you have defined your strategic issue. Although this may seem...

Those of us aspiring to be better leaders can learn from the animal kingdom. This is a fable about how animals evolved their traits to survive in the wild. Leaders, too, need to evolve to thrive in the corporate jungle. In the beginning all animals were equal. But lion discovered his magic first. And he decided he wanted to be king. So, he used his magic and grew a long mane about his head. This made him look bigger, bolder and more ferocious. He grew long teeth to rend and tear. His legs grew...

A recent survey by PricewaterhouseCoopers indicated that over 50% of executives feel their company’s strategy will not lead to company success.Other surveys corroborate that strategic decision-making in corporate America is poorly performed. Certainly no executive confronts a strategic problem intending to develop a sub-optimal solution. Often however, poor strategy stems from the process used by the leadership team. It does not adequately position the team for success. The question is how do...