Advice and Insights From A Practitioner

Tag: Business

Protected: A Recommended Format for A Strategic Marketing Plan

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Building Robust Distribution to Support Strategy – Updated October 2012

Introduction During the past year and a half, I have been working with a variety of different client companies to develop and improve their distribution networks. Distribution really matters when you consider that, on average, half of the price of the product is absorbed by activities related to getting that product from producer to the… Read More ›

Harnessing Multichannel Marketing for Strategic Advantage

“Sustainable competitive advantage no longer arises exclusively from position, scale, and first-order capabilities in producing or delivering an offering. All those are essentially static. So where does it come from? Increasingly, managers are finding that it stems from the “second-order” organizational capabilities that foster rapid adaptation. Instead of being really good at doing some particular… Read More ›

Strategic Risks – Threats and Opportunities

Figure 1: This is the logo of the new Consumer Financial Protection Bureau of the US Department of Treasury. Introduction My last post entitled: “A Prescription for Change” was about tackling change, one of the many strategic risks an organization faces. As every practitioner of strategy knows, strategic planning is a risky business so it… Read More ›

A Prescription for Change

You Can Keep the Change…Say What? One of the tough things to swallow in business is the lip service paid by some executives towards change initiatives. It goes something like this: “Yeah, we know have to change but, we are too busy struggling to keep our clients happy while at the same time trying to… Read More ›

Accountability: The X-Factor in Your Organization?

In this context, “the X-Factor” means a hard-to-describe force, influence or quality that has a positive impact on an organization’s performance. I believe that when an organization possesses and promotes the concept of accountability appropriately, the effect can be the X-Factor for the organization, and thus, result in a key competitive advantage. Going From Accounting… Read More ›

Why Does Your Organization Need A Mission Statement?

Well, first of all, a mission statement can be pretty effective at establishing guidelines for people to follow in an effort to achieve a certain loftier, longer term mission.  In fact, mission statements have been used throughout history and many have indeed withstood the pressures and tests of time. Think religion and the book of… Read More ›

Making Critical Decisions the R.A.P.I.D. Way

I believe it is increasingly important, no matter what the size and complexity of your organization is, to have a defined decision-making process.  Having been a leader of extensive global and regional underwriting and marketing business units that require many fast and accurate decisions, my teams had no choice but to establish formal decision-making roles and responsibilities.  In retrospect,… Read More ›

Using the Balanced Scorecard Approach for Better Strategy Execution

Back in the early 1990s, when I worked at CIGNA International and just returned from an assignment in Hong Kong, I learned that a new strategic initiative was underway in the domestic Property and Casualty division.  In fact, this was the first time I had ever heard of the Balanced Scorecard approach and was about… Read More ›

Innovation and Growth: Where do we go from here?

“So, the point here is that the innovation and growth of a company, line of business or strategic business unit doesn’t happen casually or by chance…it must be organized, follow a few simple guidelines and be part and partial of any company’s offensive strategy.”