Advice and Insights From A Practitioner

Tag: Strategic management

Protected: A Recommended Format for A Strategic Marketing Plan

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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 ›

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 ›

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 ›

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.”

Strategic Planning ~ Needs and Requirements

Once everyone on the strategic planning team agrees on what the definitions are (and the differences between) strategy, an objective, a goal and a tactic, then energy can be directed towards strategic plan development.  There is a fine line between success and failure in planning and like any business endeavor there are basic needs and… Read More ›

So, What is Strategy Anyway? Here are a Few Different Perspectives

Given the relevance and timeliness of Michael Porter’s advice on strategy during tumultuous times, I began my first blog post (which was originally entitled “Strategy in Action”) with that material because it really hit home for those of us working day-to-day in one of the most distressed industries – insurance. At this juncture, I think… Read More ›

The Importance of Strategy in Tumultuous Times

The economic upheaval over the past several years has caused a few of the more successful companies from the past to lose momentum making them vulnerable to the competition. This is particularly true in the financial services sector where several of the large, “too big to fail” companies and TARP fund recipients have been over reacting in the short term by retrenching, selling off assets and in many ways stumbling forward without a very cohesive long term strategy.