Posts Tagged "strategies"

How to prioritize for faster strategy implementation

Posted by on Feb 20, 2012

The hard choices of strategic prioritization So you know you have to finally decide  Say yes to some and let the other ones ride  There’s so many choices, not all can be tried  Yes you know you have to finally decide (With apologies to the “Lovin’ Spoonful”) In last week’s article we discussed the importance of setting a few critical strategic priorities to accelerate implementation, and the reasons why teams often neglect this important step. This week we’ll set out guidelines for prioritization to help your team become very clearly focused on the most critical...

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Are CEOs really overpaid and mostly not worth it? Part 3

Posted by on Jan 23, 2012

Recap In Parts 1 and 2 of this topic, we reviewed studies and opinions on executive pay. We found that the research shows: CEO pay has grown faster than the capitalization or profits of the companies they head, and this is most likely the result of measurement difficulties and remuneration policies that may be skewed by self-interest. This week we’ll conclude by answering the key strategic question “what should companies do about it”.  Our answer may surprise you. What the data does – and doesn’t – tell us As with nearly all population statistics, the pay received by...

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If you can’t answer this question, you may be a sitting duck!

Posted by on Jul 25, 2011

What is your business model? Lately we’ve taken to asking every prospective new client the same question in our exploratory discussion: “What is your business model?” A bit of history will help to explain why we think this question is important. When I began consulting on strategic management, I thought it strange that in the five days it typically took to create a strategic plan, very little time was spent actually discussing strategy. We devoted many hours to SWOT lists, mission statements, climate goals, objectives and action plans. Strategy was implicit in many of these discussions, but...

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Rewriting your strategic plan every few years may be costing you a lot more than you think!

Posted by on Apr 18, 2011

How often are you rewriting your strategic plan, and why? In my first decade of guiding the creation of strategic plans, I was often called to help clients re-do their plans every 3 or 4 years. At the time, neither I nor my clients were aware of any reason why organizing strategic plans in one way would be any better than another. In the absence of a reason to do otherwise, these plans were organized around strategic themes chosen by the client teams. By the time we renewed these strategies a few years later, the themes around which the original strategy was organized had often lost their...

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Still using SWOT lists? Maybe your planning process is a weakness.

Posted by on Feb 22, 2011

Are you still kicking off strategic planning with a SWOT analysis? If you are, maybe you should list “outdated and potentially dangerous strategic planning process” as your first weakness! Here’s why. The Weaknesses on your SWOT list may be worse than just a waste of time – they may actually increase your risk of failure!  The only weaknesses that matter are deficiencies in the critical success factors required for your new strategy. But you won’t know what they are until you’ve drafted the new strategy and identified the critical success factors required for that specific strategy. Even...

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