We can improve our predictions in strategic planning by predicting with leading indicators. You may have hear of the Composite Leading Indicators, a statistic used by the Federal Reserve to predict recessions. This tool is a good way to anticipate changes in a dynamic system. Choosing important leading indicators for your business may be simpler […]
Continue reading
One of the things we cannot avoid in strategic thinking is making predictions. While predictions, being assumptions, inevitably carry the risk of error, there are things we can do to make better predictions. When you can match an understanding of future trends with a clear vision, your plans are much more likely to be successful. […]
Continue readingWhen most people are traveling on a highway, stopping for fuel or food involves an interesting decision making process. We often exit the highway and look for a restaurant or gas station that will meet our needs. Naturally, a strong brand preference may cause us to choose one exit over the other, but, without a […]
Continue readingWhat we need when there is great future uncertainty Over the years, I’ve taught many concepts that are vital to good strategy. One of the key struggles many have with strategy is that our assumptions can turn out to be incorrect, rendering some of our strategies less useful. Right now, many of us are struggling […]
Continue readingContingency planning for the next few months. In my article on contingency plans for the Covid-19 Pandemic, I outlined a threat-based approach to the pandemic impact. This week, I’d like to extend that thinking into the next few months. While this may not seem strategic to some people, huge chunks of market share will be […]
Continue readingIn this third article of a series, we are going to look at Succession Planning – It’s urgency and pitfalls. Our first two articles covered the key features of Succession Planning – how to do it, etc. In Article 1, we covered the following questions. What is succession planning? What positions in your organization should […]
Continue readingTimes of great upheaval represent a great opportunity for those who would act to get ahead. The right moves to do this are strategically important for your company, and could literally make or break your business. In my last article, I summarized four key steps to hanging on through the current downturn. Survive. Protect your […]
Continue readingIt’s pretty clear by now that the economy is going to take a severe beating this quarter, and possibly the entire year. With the strategic picture in mind, how do we steer our businesses through this rocky period? The key to understanding the answers to this are the things that are truly strategic in your […]
Continue readingCovid-19 and Business – How to Build Value During the Pandemic. It’s still somewhat early to predict how the Covid-19 outbreak has changed every part of our world. It’s not too soon to pick up some early ideas that are emerging from the disruption caused by the pandemic. Smart companies will look to use the […]
Continue readingSuccession planning and competencies – mentoring and family requirements. In the first article of this series, we looked at a number of questions which should be addressed by Senior Management. When implementing succession planning, answers to those questions establish a good foundation upon which to base our work. Questions from the first article. What is […]
Continue readingStrategies in recessions – What kind of strategies work best? We’ve been using Simplified Strategic Planning for over 40 years now, and we’ve seen companies fare well through recessions many times. Those that do well use strategies that are just a bit different from most of their competitors. You should consider those differences for your […]
Continue reading