Tag Archives: Strategy

Where are you Headed? Get Clear!

BUSINESS STRATEGY QUESTIONS SET #007

The four questions to ask before you get ready to scale-up!

  1. Are you attracting and retaining the right people?
  2. Do you have a distinct sustainable strategy?
  3. Are all processes running smoothly and driving superior profitability?
  4. Are you managing your cash flow effectively?

Answering these questions can prepare you to scale-up fast.

Read more at Book Summary – Scaling Up: How a Few Companies Make It…and Why the Rest Don’t.

BUSINESS STRATEGY QUESTIONS SET #006

Where and how does one begin the innovation process? Autodesk’s Innovation Strategist, Bill O’Connor, offers 7 questions:

  1. What could we look at in a new way?
  2. What could we use in a new way, or for the first time?
  3. What could we move, changing its position in space or time?
  4. What could we interconnect, for the first time or in a new way?
  5. What could we alter, in terms of design and performance?
  6. What can we make that is truly new?
  7. What can we imagine that would create a great experience for someone?

Source: https://labs.blogs.com/its_alive_in_the_lab/2016/08/the-autodesk-innovation-genome-is-part-of-a-process.html

BUSINESS STRATEGY QUESTIONS SET #005

How to create an integrated view of strategy? According to Kevin J. Boudreau, the most essential questions to address are:

  1. What Value Are You Intending to Create, and for Whom?
  2. How Do You Plan to Deliver That Value?
  3. What Is Your Competitive Advantage — Your Sources of Uniqueness?

Read more at

(1) https://hbr.org/2017/10/a-short-guide-to-strategy-for-entrepreneurs

(2) Designing Your Company: Creating, Delivering, and Capturing Value, Harvard Business School Strategy Unit Working Paper No. 16-131

BUSINESS STRATEGY QUESTIONS SET #003

What do you do better than others?

Is your entire organization aligned to do everything with this thinking?

If yes, then you are a “coherent” company. Paul Leinwand and Cesare Mainardi suggest taking a “Coherence Test” as illustrated in the image below.

Based on this, Paul Leinwand and Matthias Bäumler have listed the following 8 tough strategy questions.

References: (1) https://hbr.org/2017/11/8-tough-questions-to-ask-about-your-companys-strategy (2) https://hbr.org/2010/06/the-coherence-premium

BUSINESS STRATEGY QUESTIONS SET #002

How effectively are you implementing your business strategy?

The seven questions designed by Harvard professor Robert Simons could help answer that question:

1 – Who is your primary customer?
2 – How do you prioritize the needs of shareholders, employees, and customers with your core values?
3 – What critical performance variables are you tracking?
4 – What strategic boundaries have you set?
5 – How are you generating creative tension?
6 – How committed are your employees to helping each other?
7 – What strategic uncertainties keep you awake at night?

See more details at http://www.free-management-ebooks.com/news/simons-seven-strategy-questions/

Invitation to PEERSTRAT at High Tea on Saturday May 17, 2014, New Delhi

Business Strategy: Peer-Review workout session for entrepreneurs and business professionals

Click here to book your seat at Meraevents

Invitation to PEERSTRAT: Peer Strategy Review workout at High Tea on Saturday May 17, 2014, New Delhi
Invitation to PEERSTRAT

Dear Business Folks,

We are delighted to extend an invitation to you for a Peer Strategy Review workout (PEERSTRAT) session conducted by Omnizient Labs:

Date: Saturday, 17th May, 2014
Timings: 3:30 to 6:30
Location: Samavar, B-36A, Pamposh Enclave, GK-1, New Delhi – 110048

The PEERSTRAT sessions enable you explore ways to make your business get bigger, grow faster and be the very best in your industry.

All participants are invited to share the challenges and opportunities they are facing in their business as per following Five Step PEERSTRAT Agenda:

#1 Build Unique Business – Eliminate Competition!
#2 Recreate Brand – Tell a Compelling Story!
#3 Maximize Revenues – Penetrate Newer Markets!
#4 Maximize Profits – Transform Business Processes with Standard Operating Procedures (SOPs)!
#5 Track Success – Identify Critical Success Measures – What Gets Measured Gets Done!

Who will benefit from this event

Independent Professionals, Entrepreneurs, Senior Business Managers, Business Heads, CXOs, Directors @ Companies, Partners of family owned business, Proprietors, Middle Management

Participation

Participation fees are nominal INR 1000 to cover basic cost of the event. Tea and Snacks would be served during the session. Please confirm your participation by marking an email to raj @ bizvidya.com.

Click here to book your seat at Meraevents

Contact Details:
Raju Moza: raj @ Bizvidya.com,  +91-9818-662-001

BizVidya Guide: The Ten Question Tool

Use this TEN QUESTION TOOL to Clarify Goals and Get Laser Sharp Focus in Achieving Timely Results

We had advised earlier to Clarify Your Goals in a previous post here. But then, temporary clarity using a few smart technology tools is not good enough in these “interesting times”.

Especially when you are in a critical business situation and decisions need to be made among a series of contradictions.

Often, we find ourselves overwhelmed with a large number of exciting options, immense possibilities, conflicting opinions, changing priorities, shifting bottlenecks, fluctuating market scenarios and unpredictable customers!

Test your situation with this TEN-QUESTION-TOOL to re-engineer and transform your situation into a workable strategy and a clear-cut plan!

1. What am I exactly doing?

List the tasks and intended results: List immediate desires, intentions and goals.

2. Why am I here?

My need or motivation: What is my intention? More revenues? More profits? More productivity? Better Lifestyle?

3. Where am I coming from?

Recent relevant past: What is my sponsoring thought for this? Am I launching this product because sales are declining? Or, because customers are complaining? Or, I need a higher margin product?

4. Why am I doing this?

Ask multiple nested Whys: Use the Five Why Tool recursively to break down answers to #1 , #2 and #3 above. Launching this product for more revenues or larger customer-base?  For new market segments? More customers in current market segments?

5. Where have I reached now?

What is working and what is not working: What are the good points, workable areas, benefits and strengths of the current situation? What are the threats and weaknesses?

6. Where do I wish to go from here?

Long-Term Results I would really like to create: Where would this ultimately lead too? Bigger Business? Best in the market? Most expensive in the market? Cheapest in the market? What is the long-term Brand Image desired?

7. How can I reach there?

Possible paths: What are the possible routes to success – Should I resort to cannibalizing? Should I explore a Blue Ocean? Should I spend on Research and Development? Should I use the Fail-Fast strategy on a series of products?

8. How would I know I have reached there?

Visualized Goal and Measurable Results: Convert goals into specific numbers and timelines.

9. What are the barriers?

What or Who is stopping me?: Put on the Black Hat and list all possible obstacles, barriers and whatever makes the project look difficult.

10. What is that One Thing that would make a dramatic impact on this area?

Who or What help can make a big difference?: Finally the juiciest part: What is that one big thing that can make this a big success – One Big Customer? Large Capital? Large Customer Base? Large User Base? Many Small Customers?

Decipher that (we are there to help) and Do That One Thing By Doing Which Everything Else Will Get Done!

 

Samsung Techonology@Home: Story of a Brand

Kishore Bhargava
Kishore Bhargava

Event: Samsung India (LED and LCD TV) organized a unique workshop on future technology & aesthetics – Technology@Home. Date: Saturday, Jan 09, 2010. Location: Chocó La in Khan Market, New Delhi.

I remember a German colleague being amused on seeing a lubricant being sold with the byline “superior German technology”  at a petrol pump in Delhi! Whenever we see a label like “Made in German” or “Made in China” immediately our mind throws up stereotypes! So, what is YOUR image about the Brand “Korea” and more specifically “Samsung”? Any pre-conceived notions? Do send in your comments!

There has been a pereception about Koreans being clutter-oriented and going for overkill in design.

But, my experience has been different. If fact, there is an interesting 500 year old story on how Koreans designed their own alphabet to carve a unique identity (Branding Strategy?) seperate from Chinese (and later with Japanese).

In 1414, Sejong the Great initiated a project to create the unique Korean Script (till then they were using Chinese characters with special symbols). It took about 2 years to design the script, but the resulting system is a LESSON in simplicty.  The script, now  known as Hangul (or Hangeul or Hankul), has been variously applauded as “remarkable,” “the most perfect phonetic system devised,” and “brilliant, so deliberately does it fit the language like a glove”.

For example, visually, Hangul scripts starts off with ㄱ ㄴ ㄷ ㄹ ㅁ- How simpler can you get!  There are other interesting elements like shapes of consonants matching shape of the mouth when you make the sound! (A personal tidbit: I enjoyed learning the Korean alphabet when I was associated with QuarkXpress Korean team in India – but, no comments in Korean language please, that was long ago!).

Fast forward to the last decade when Samsung was a low-end consumer electronics company and they decided to accelerate up the “Value-Chain” and give “Samsung TV” a central role in overall Branding strategy. As Businessweek reported:

Most people carry their mobile phones with them everywhere, while their TV is the center of the family room. “We wanted the brand in users’ presence 24/7,” says Peter Weedfald, head of Samsung’s North American marketing and consumer electronics unit.

Jez Frampton shares how the Samsung mamagement transformed their “attitude, behavior, and business strategy” by making brand value a key performance indicator (KPI) for its top executives:

It (KPI) enabled the team to focus on the activities, messages, and business areas (not to mention a focus on design and experience) – all of which we knew would lead to the greatest increase in brand value. This affects budget-setting, allocation and, of course, provides a simple metric for success: “Did we create brand value?”

History reveals that this was a clever move. Samsung witnessed a significant increase in both brand and shareholder value. They soon outgrew Sony, the original challenge that Samsung’s executives had set for themselves before the KPI program was initiated.

Interbrand, the international Brand Consultancy, has played a role in this process as they have helped Samsung raise its brand value to US $16.8 billion. Interbrand’s Best Global Brands 2009 lists Samsung at 19th position (up 2 from 21), but a 1% dip in overall Brand value.

So, what are some of the Branding lessons here? Let us list a few:

  • First, send a clear and consistent message INTERNALLY across all teams
  • Second, have a long-term branding building strategy – you cannot keep shuffling on short-term trends
  • Third, sweat the small stuff – if “innovation” is your brand recall message then you need put in more effort in research than anyone else

Coming to Chocó La event, Technology consultant & Open Source Wizard Kishore Bhargava gave a captivating presentation on how one can create a centralized set-up to integrate all your Audio-Visual needs at home – movies, music, images and games.

Next, Interior Designer and columnist Rekha Nambiar  gave a fluent talk on the challenges of the Indian Home (“loose wiring”, et al) with some handy tips on lighting & acoustics.

Later, Abhishek Rajan, Senior Product Executive and Prateek Seal, Senior Manager, Marketing, shared interesting facts and stories about LCD & LED technology (including how salesmen of some brands make you feel the “Liquid” in an LCD to indicate better quality!).

The event was organized by Blogworks: Rajesh Lalwani, Rajika Talwar, Manpreet, Amita and everyone else did a nice job in making eveyone comfortable and ensure good participation.

Disclosure: Received this Twitter T-Shirt like everyone else present. But, did NOT receive the LCD TV which was bagged by Hardik in a quiz contest:-))

Twitter Shirt for @amarsrivastava
Twitter Shirt for @amarsrivastava

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