Company Plan Networks: Making The Right Selection

In establishing a strategic direction and a set of priorities that will guide decision-makers, few techniques are as powerful as scenario thinking (also known as scenario planning). Scenarios are perspectives on potential events and their consequences, providing a context in which managers can make decisions. By contemplating a range of possible futures, decisions are better informed, and a strategy based on this deeper insight is more likely to succeed.
To fundamentally shift your strategy, you must begin by reorienting your strategic focus from competitors to alternatives, and from customers to noncustomers of the industry. To pursue both value and low cost, you should resist the old logic of benchmarking competitors in the existing field and choosing between differentiation and cost leadership.
The power of the customer is a source of competition. The issues that need consideration are how dependent the business is on individual customers, the ease with which customers can move to another supplier, the customer’s knowledge of the business’s competitors and the conditions (price, quality, overall offer) that are prevailing.
The strategies that relate to a particular business are known as business-level strategies. It is developed by the general managers, who convert mission and vision into concrete strategies. It is like a blueprint of the entire business.

Competitive Advantage

Competitive pressures, both for individuals and organisations, are driving the need to excel in new ways. Our ambition leads us to believe, correctly in most instances, that we can benefit from doing things in ways that seem contradictory to the ways things have traditionally been done.
Benchmarking is the art and science of setting a standard of performance by looking at what others in your industry do. It’s straightforward and, when properly focused, highlights the important tasks that operations must accomplish. However, benchmarking doesn’t automatically set the right goals.
Your business strategy must account for where you’re competing, the customers you are targeting, what you aim to offer, and what your people need to succeed. And it must be communicated in a way that ensures buy-in from stakeholders—especially your employees. Otherwise, execution may fall flat.
Organisations must create the conditions for effective information use. Information management is the responsibility of every manager and information responsibility means that managers have to discover what information they need, how that information should be provided, and who will supply it and when.

Securing An Advantageous Position

Cash is essential for organic growth, preferably cash generated from within the business being used to develop other parts, or cash provided as a loan or in return for an equity stake in the business. Cash is needed to pay for expansion and new developments, either by taking on new staff, buying in new resources (such as IT systems), developing and producing new products or undertaking marketing initiatives.
To boost performance, well integrated companies don’t have to change their culture; they have to recognize its value and use it to reinforce the way they coalesce across their strategy and execution. These cultures make it easier, not harder, for people to work together across internal boundaries (like those of functions and business units). They have a climate of grand aspiration, drawing people to contribute and excel, and to bring more of themselves to work. The interplay between capabilities and culture becomes a defining feature of the enterprise.
Agility is not a strategy. It is a capability, a very valuable one that has immediate operational benefits but that cannot permanently affect a firm’s competitive position unless there is a strategist making the right decisions about where to direct that capability. And the seeming absence of a plan doesn’t mean that successful startups don’t have strategies.
A good strategy will help you make good investment decisions, like how and where you would like to spend money. It also helps to provide guidance on project prioritization and other activities within your organization. Allocate and optimize resources, and make profits that generate above-average returns.

Creating Higher Demand

In predictable classical environments, strategy formulation can be separated from execution. But in adaptive environments, it cannot, since strategy continually emergences from amplifying the results of success experiments, i.e., execution.
The simple discipline of defining a capability gives you a much clearer view of what you are trying to build, and why it matters. For solution selling, the stated definition was: “To build long-term strategic relationships.” They would communicate directly with the automakers’ technical specialists, instead of just the purchasing staff, and build their own financial models of the products, so they understood the costs and potential revenues, before signing the contract.
Two equally skillful chess players sit waiting for the game to begin—which one has the advantage? Two identical armies meet on a featureless plain—which one has the advantage? The answers to these questions is “neither,” because advantage is rooted in differences — in the asymmetries among rivals. In real rivalry, there are an uncountable number of asymmetries. It is the leader’s job to identify which asymmetries are critical—which can be turned into important advantages.
One of the most important characteristics of a superior workforce is that all employees remain employable. This means that you employ only those people whom your competitors would want to hire if they could. It should be a goal of your human resource planning to seek state-of-theart employees. Employees should know that you expect excellence from them and that they probably will need to invest in themselves through outside training to keep their end of this bargain.

Profit From The Core

There are meaningful distinctions between strategy, implementation, and execution that are helpful to running a company or business in the real world. Ignoring, blurring, or getting them wrong creates sloppy thinking, deciding, and doing at all levels of an organization.
Evaluating top priorities side by side to make mutually exclusive, now-or-later distinctions will encourage your team to use comparative learning. If your team puts launching next generation product line on the wait list, but leaves enhance quality of existing products on the list of near-term priorities, that contrast makes an invaluable distinction.
Untapped value is often hidden in complementary products and services. The key is to define the total solution buyers seek when they choose a product or service. A simple way to do so is to think about what happens before, during, and after your product is used.
Creating a new product for an unknown customer set is a risky path. You are creating a new product for a new customer set. You have no experience or knowledge on which to build; you are starting with a clean slate. It’s not impossible to succeed if you hit on the right problem.

Gaining Command Over The Situation

If you can’t shape your future, then you run the risk of falling behind competitors that do, or worse, being disrupted by them. In many industries, supercompetitors are emerging. They are continually improving their capabilities, anticipating customer needs, and staking out a clear part of the market to control. You might lose the opportunity to become one of them and thereafter be dependent on larger, coherent players in your industry.
Integration is not always a good idea. When a company can buy perfectly good products and services from outside suppliers, it is usually wasteful to go through the expense and trouble of mastering a new set of business operations. However, when the core of a business strategy requires the mutual adjustment of multiple elements, and especially when there is important learning to be captured about interactions across business elements, then it may be vital to own and control these elements of the business mix.
Periodically review and update your strategy to ensure that it's valid at all times and meets your company’s objectives and market needs. Test it out in small phases. It's better to fail fast when it is less expensive and recover from mistakes.
Blueprinting, building, and scaling capabilities may seem like familiar work, something that all companies manage to do all the time. But a great deal of innovation, attention, discipline, and creativity is needed to bring distinctive capabilities to life. Because they are closely aligned with your value proposition, there is no gap between strategy and execution in this process; the process of developing strategy is intimately connected to the process of building the relevant capabilities.

Blueprinting The Capabilities System

Companies have long been encouraged to build purpose into what they do. But usually it’s talked about as an add-on — a way to create shared value, improve employee morale and commitment, give back to the community, and help the environment.
A business strategy outlines the specific ways in which an organisation plans to position itself, achieve its short-term and long-term goals, and grow over a period of time. It draws on other important business resources, such as the organisation’s mission, its vision, and its values, to help chart its direction forward and deliver on its objectives.
Extending a competitive advantage requires looking away from products, buyers, and competitors and looking instead at the special skills and resources that underlie a competitive advantage. In other words, Build on your strengths.
Ratios of the market share of each product, or the product as a percentage of turnover, can be compared between periods to see how markets and product groups are developing. This highlights strengths and weaknesses in a product portfolio and can be used to gauge a product’s position in its life cycle. If it is declining, it is important to decide if it is a long-term and irreversible trend or a short-term blip that you can take action to reverse.

Know When To Stop

A company is an organism, and if you try to optimize the parts you will suboptimize the whole. You don’t want a strategy for digital, IT, finance, HR, or anything else—just a strategy for the entire business. So don’t imagine you can develop a strategy for the digital part of your business and leave the rest alone.
Strategy is visible as coordinated action imposed on a system. When I say strategy is “imposed,” I mean just that. It is an exercise in centralized power, used to overcome the natural workings of a system. This coordination is unnatural in the sense that it would not occur without the hand of strategy.
Growth is difficult to manage and it depends on having the necessary cash. Because of the lag between the time investments are made and when they start repaying, it is crucial to maintain the support of financial backers, keeping them informed.
The strategic move, and not the company or the industry, is the right unit of analysis for explaining sustained high performance. A strategic move is the set of managerial actions and decisions involved in making a major market-creating business offering.

Defeat The Competition

The concept of positioning relates to how a product is perceived by customers relative to its competitors. It originated in the advertising industry as a way of identifying those attributes of a product that should be placed in the buyer’s consciousness. For example, a product may be positioned as inexpensive, innovative, old fashioned, prestigious, high quality or any of a multitude of other attributes. Positioning influences attitudes to and perceptions of a product or company brand, rather than changing the product itself. The value of positioning decisions is that they increase awareness of a company’s or product’s capabilities.
Worrying too much from the start about what is acceptable and achievable may lead to compromises being made too easily. Always have a clear view of the ideal decision, and then test it. If compromise is necessary, make sure it is made positively, with a clear focus on what needs to be achieved.
An Integrated Cost Leadership/Differentiation Strategy involves producing low-cost products with differentiated features. This strategy is about simultaneously focusing on two drivers of competitive advantage: cost and differentiation. This type of strategy is often called a hybrid strategy.
Your approach to building capabilities will be your own approach: bespoke to your company. You will not benchmark or copy it from anyone else — at most, you will borrow details and practices and convert them to your own way of doing things. This approach may also be unfamiliar. For all their experience in functional excellence, most companies have rarely built truly distinctive cross-functional capabilities in their own way. They follow a program created with generic business in mind. They end up with functional activity similar to every other company’s functional activity.

Assessment Of Competition

When another person speaks you hear both less and more than they mean. Less because none of us can express the full extent of our understanding, and more because what another says is constantly mixing and interacting with your own knowledge and puzzlements.
Some of the most common values espoused by companies are integrity, quality, customer service, innovation, entrepreneurship, and profitability, among others. Ask yourself: What are your company values? Do you value quality? Do you believe in product or service excellence? Do you believe in taking care of people? Do you believe in market leadership or innovation?
Many companies, especially those with multiple product/service lines, use return/profit as their driving force. They will purchase or start a company or enter into any market where they can earn excellent profits.
To arrive at a business strategy that everyone in the business supports you will need to have a lot of discussion and debate within your business and amongst your senior team about where the business is now, where you want it to go and how you are going to get there. By getting to an agreed strategy as a team this will align everyone on the same track and wavelength giving you more chance of success.

Comments

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