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What is Strategic Thinking?
As you may know from Simplified Strategic Planning, strategy is the course or direction of an enterprise. In business, this revolves around three basic questions: What do we sell? To whom do we sell it? How do we beat – or better yet, avoid – competition? Strategic thinking is a specific approach to thinking that […]
Continue readingMade the “Nifty Fifty” New Product List and Fought to Make a Dime – Lessons Learned in Protecting Intellectual Property and Partnerships
By Denise Harrison, Executive Vice President & COO Your new product makes the “nifty fifty” list of innovative new product introductions; you envision your picture on the cover of Fortune magazine; and then….you end up in legal battles and with little money. Here are some lessons learned from one company as it tried to capitalize […]
Continue readingWatching Trends: Ebbs and Flows
Watching companies respond to massive changes in the current strategic environment, I am struck by how much we tend to overemphasize the present when planning for the future. In strategic planning, it is vital that you do the best job you can to anticipate future trends that will shape the strategic environment of your industry. […]
Continue readingBe the Threat For Your Competition
Are changes in your industry right now or possible changes in the near future threatening your company? This can be a bad thing – but you might be able to turn the strategic threat into an opportunity, as well. The most strategic threats occur because something in your value stream is undergoing a fundamental change. […]
Continue readingLessons Learned: Japan’s Earthquake and Tsunami Teach Important Lessons
By Denise Harrison, Executive Vice President and COO The location and severity of any specific natural disaster are difficult to predict – so you need to prepare for a disruption in your supply chain, given that a natural disaster could impact your business at some point in time. Even Toyota, known for its superior management […]
Continue readingKnow What is Going to Kill or Transform Your Industry – Part II
How are industries disrupted? We have already identified the three most common causes: technology, business practices, and law. But if we want to do a good job anticipating disruption, we need to know exactly what kinds of changes are likely to lead to disruption. As a general rule, disruption occurs because customer behavior changes radically […]
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