Untitled design (6)

INTELLIGENT COMPETITION

The most critical strategic issue for any business is its competitiveness. No one would disagree with this yet few businesses really spend time and effort to deeply understand and manage their future competitiveness.

Most executives monitor their competitiveness through market share and as we all know that indicator is historical and is in no way predictive.  Neither is historical tracking of past revenue trends.

So how do you monitor your competitiveness, identify potential new entrants, understand your existing competitors, and manage as well as identify your potential competitiveness? How do you manage the risks involved in being in a competitive market?

While generally the CEO is the one responsible for the competitive ability of any business, they are often lacking the right insights to make the best decisions.  And while most businesses have plenty of information and plenty of know-how they have very little Competitive Insights or Intelligence (CI).  One reason — there is no tie between business strategy and future competitiveness, and business systems and processes.

CI is concerned with the methods, systems and processes that a business uses to monitor its competition, any potential industry disruption, its own competitive position, and to improve its competitiveness overall.

Although most managers intuitively carry out some form of CI – generally in an ad-hoc way – the overwhelming data that is available, rapidly changing technology, and increasing global competitive pressures mean that there is an increasing need to develop more systematic ways of doing CI.

There are a number of key steps that will ensure the success of a good CI process. These are:

  1. Ask the right question

Far too often, businesses make decisions too quickly and without a strategic context — it is a case of ‘ready, fire, aim’.  The internet and social media has not helped this mindset, as the speed to market has become a more critical factor. In the end, we are left with a smoking gun, but where did the bullet go?

 Experience has shown that ‘asking the right question’ is one of the hardest steps for senior management.  Here we need to define the decision objective or purpose and to put it simply to understand what really needs to be identified.

  1. Manage information effectively

Once you have identified your objective and possible key questions, the next driver for understanding what you have and don’t have within the business needs to come from studying the forces at work on your business. These forces could include competitors, technology, clients, consumers, new entrants, industry trends and so on.

Getting solid information on the decision at hand requires a number of information sources:

Human sources: for example, people in your organisation, business networks, experts, etc.

Economic and financial sources: for example industry reports, economic analyses specialist media.

Corporate sources:  for example, customers, suppliers.

Technical sources: for example technical reports, academic papers, and product manuals.

Remember all the information needs to be put into context and subjected to interpretation to derive some meaning and value.

  1. Analyse for insight and intelligence

The major focus in the CI process is the method of analysis used to turn the information collected into intelligence or insights for the decision maker. It is only through analysis that intelligence or insight is created.

The value of insight is early awareness, as it enables you to recognise and monitor the future as it unfolds, thereby reducing risk and minimising mistakes. Today, executives are faced with many pressures — they may sometimes seek only short-term gains — but costly mistakes from executives making uninformed decisions are no longer an option.  The risks are too high.

 It is important to note that the purpose of CI is not to predict the future, but to enable management to make better decisions about the future.

In a VUCA world, CI is becoming an integral part of making business decisions. The data and information gathering and evaluating process can identify and project strategies that current or emerging customers and competitors might pursue, and provides an assessment of the implication of these strategies on your company’s future competitiveness.

We need to realise that we have exciting new ways to protect margins, to fight the competition, to achieve breakthroughs. We need to realise the positives will far outweigh the negatives – but only if we change.

Forced change is always second prize. The secret lies in putting together a strategy for the future based on sound intelligence.

How to do SWOT Analysis the right way!

SWOT – The most abused analytical technique in management

As most business people would know SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats.

Traditional SWOT analysis is possibly the most widely known and among the most utilized means of situation analysis.  A SWOT analysis is used to assess the fit between a company’s internal resources and capabilities (its strengths and weaknesses) and external possibilities (its opportunities and threats).

The technique can be applied to many areas of a company, including products, divisions, and services. The simplicity and ease of using this model have made it a popular technique, particularly for determining a company’s ability to deal with its environment.

However, it is also arguably the most misused, misapplied, abused and poorly understood analysis method in management today.

Have a look at the diagram below.

Most people undertake the first SWOT that, to be honest, provides executives with little insight and no options as to their competitive abilities. It is so easy to fill in four boxes and persuade yourself you have done analysis!

The real SWOT (as originally developed by Harvard Professor Ken Andrews) will always deliver insights and options for good decision making. It is a little harder to do however every client I have worked with using this “proper” SWOT has uncovered invaluable insights and options as to its competitive ability.

SWOT Analysis

So how can you improve your use of SWOT Analysis?

Step 1: The first step in utilizing a SWOT analysis to understand each of the elements.

a. Strengths: Strengths are those factors that make an organization more competitive than its marketplace peers. In other words, those factors that differentiate you from your competitors. It is where the company has a distinctive advantage at doing or what resources it has which are superior to the competition. Listing what you believe are your strengths is simply an exercise in patting yourself on the back! Strengths are what differentiates you from your competitors. Your customers, suppliers and third parties know your strengths well compared to your competitors.

b. Weaknesses: A weakness is a limitation, fault or defect within the company that can prevent it from achieving its objectives. They occur when the company performs poorly or has inferior capabilities or resources compared to the competition. Again, your customers, suppliers, and other third parties would be aware of your real weaknesses.

c. Opportunities: Opportunities include any favorable current or prospective situation in a company’s environment such as a trend, change or overlooked need, which supports the demand for a product or service and permits a company to enhance its competitive position. Opportunities are equally valid for all players in your industry – not just you!

d. Threats: A threat includes any unfavorable situation, trend or impending change in a company’s environment that is currently or potentially damaging or threatening to its ability to compete. It may be a barrier, constraint, or anything that might inflict problems, damages, harm or injury to the organization. Again, these threats are equally valid for all the players in your industry.

Once you have completed your list in each of the four boxes, the hard work now begins.

Step 2: You now need to match each of the boxes with possible strategies you could undertake –

a. Matching your Strengths and market/industry Opportunities – what are some activities/strategies you could develop?

b. Matching your Weaknesses and market/industry Opportunities – what are some activities/strategies you could develop?

c. Matching your Strengths and market/industry Threats – what are some activities/strategies you could develop?

d. Matching your Weaknesses and market/industry Threats – what are some activities/strategies you could develop?

This is not easy to do and requires thinking.

Below is an example of a completed SWOT.

Once you have completed your SWOT, you will notice some common themes in the activities/strategies you have available. These common themes become what I call your strategic imperatives. You should address these in the coming 12 months as they will provide you with a competitive ability based on your current market fit.

Each year, business executives need to repeat this process as your fit will no longer be the same – and neither will your marketplace!

______________________________________________________________

EXAMPLE:   SWOT Analysis for Cannondale Bicycle Corporation

Personal Planner

What’s your personal plan for 2018?

Most of us have a personal plan – of some kind. It might be a list of things that you’re ‘hoping’ to achieve… and sometimes you might have it ‘written down somewhere’.

After working with successful people for over 20 years as a business advisor and coach I know from experience that for a plan to be achievable it must be explicit and ‘alive’. Having a plan in your head just isn’t going to cut it.

By articulating and writing it out, you will become clearer on the outcomes that you want to achieve. Are you looking to develop your career, inject more fun and enjoyment into your days, enhance relationships, or get on top of your finances or health?

Having a written plan is the first step…

Here are some tips to get your personal plan started:

1. Pick a future point in time (maybe the end of the year, or in 3 – 5 years) and imagine your ideal life. What does it look like? What are you doing that is different from today?

Action: Download our wheel of life to help you with this process – and reflect on how you have addressed each area of your life at the point in time you have selected.

2. For each area of your life, write down what are you good at, what makes you happy, and what you could improve? Make a list of your strengths and the areas you need to address.

3. Choose one area to focus on. (If you try to focus on too many areas at once you may end up giving up.) Write down what your ultimate objective is – and the steps you need to take to achieve the ideal scenario you’ve described. How will you know if you have achieved your goal? Like any objective you need to make sure it’s measurable.

4. Get a support person or coach to keep you focused and accountable. As I often say, it is hard to keep focus when you are up to your armpit in alligators!

5. Once you feel you are moving forward in one area, you can begin to look at other parts of your life. Remember to set some clear milestones so you know that you are moving in the right direction.

Most people think that planning is confined to the office, and limited to finance and budgets. However to create the life that you want – you must plan for it. While there may be a budget somewhere in your plan, a major part of the process will involve taking the time to think, articulate and measure where you are now – where you want to go – and how and when you’re going to get there.

You create your life.

After all, you are the leader of your life.

Ready Fire Aim

Ready – Fire – Aim, Australia’s Smoking Gun

Far too often, we come across organisations where decisions are made too quickly and without a strategic context. The old rule of “ready, fire, aim” is still prevalent in corporate Australia. The internet has not helped this thinking as the speed to market becomes a critical factor. In the end we are left with a smoking gun but where did the bullet go?

While information is more abundant than ever before, managers are intelligent information starved!

Competitive Intelligence (CI) has grown as a management discipline around the world as companies face tougher and faster competition. Competitive Intelligence in large successful multinational organisations is becoming a “must have” rather than a “nice to have”. In fact recent studies from the USA indicate that budgets for CI now range up to and over US$4 million per annum and that rates of return can be as high as 4000%.

In the past, Australian businesses have been slow to practise effective Competitive Intelligence. One reason we believe, is because they think it is something else, another buzzword, another soft option, another ‘be seen to do’ activity which consumes time and profit. Today, some are beginning to realise it is the opposite, a strict discipline that selects and delivers the right intelligence to support key decision-makers, a discipline focused on optimising time and profit. An example is one client who measures the value of business intelligence simply in dollars – an identified new market worth to them at around A$100 million.

Another reason why companies have been slow to pick it up, is that many Australian companies think they are already practising Competitive Intelligence. CI is not paper shuffling, having the most expensive database or the most efficient data distribution. CI is also not market research or strategic planning. It is an approach which focuses these and all marketing, analytical and planning functions on one outcome, maximising the company’s competitiveness.

So what is this CI discipline that helps you be “aim” first? Competitive Intelligence is concerned with the methods organisations use to monitor their competition, their own competitive position, and to improve their competitiveness. It is about the techniques used to select and filter information, to interpret and analyse it, to communicate it to the right people, and to use it effectively. Although all managers intuitively carry out some form of CI, the information explosion, changing technology, and increasing global competitive pressures mean that there is an increasing need to develop more systematic ways of using CI.

The major focus in the process is not just the identification of sources of information but what method of analysis will be used to turn the information into intelligence. There are over 170 methods of analysis in business and picking the appropriate methodology is critical to delivering value at the end. It is through analysis that intelligence is created.

The intelligence process works best however within a strategic framework where individuals and organisations can look ahead with all the means at their disposal, interpret what they find and integrate these understandings into a continuous cycle or process of competitive ability. The keys to the future are not found through extrapolations, predictions or media gurus, but through patient, careful strategic work. You need to be ready and take careful aim at the specific target before you fire.

A strategic plan that doesn’t include insight about the near future is next to useless. Yesterday’s information and methods are increasingly ineffective for making today’s decisions – and even less effective for identifying tomorrow’s opportunities, problems, and unknown competitors. The purpose is not to predict the future, but to make better decisions about the future.

The value of foresight is early awareness. This reality check enables you to recognize and monitor the future as it unfolds, thereby reducing risk and minimizing mistakes. Costly mistakes by managers firing from the hip, is no longer an option. The issue is often that managers today faced with so many pressures are unsure of the specific target sometimes seeking only short-term gains.

The systems for identifying these warning signs is totally different than yesterday’s methodology. For example, business respects and relies on traditional information. Statistics, facts, concrete data. This hard or secondary information is retrospective and most useful for quantifying what has occurred. But it is increasingly unreliable and inaccurate for revealing the future in a rapidly changing environment.

Another problem is that of asking the right questions. Experience has shown this to be one of the hardest steps for senior management.  The key is to ensure there is understanding of what the “intelligence customer” really wants, where they are coming from, and how the intelligence will be directly related to a management decision or course of action.

Too many times, intelligence projects fall over because of the poor identification and understanding of the key issue and its relationship to the business. If managers can’t identify the target, how can they be prepared to take aim and be successful?

Success comes from hard work and careful planning, and it does not come overnight. The realities of making this work means we need to understand the competitive landscape before we fire, and incorporate this understanding and insight for competitive management. How your organisation prepares its competitive gun, in essence, will provide you with either a strategic advantage — or kindle the demise of your organisation.

Today, Competitive Intelligence is not negotiable. Can you afford to fire first?

The Heart of Entrepreneurship

So you want your business to be more entrepreneurial and your employees more innovative and productive? But what does that really mean to you? I suspect that you want your employees to still provide the service and quality on which you have and are building your reputation but with the added ability to add value to your business without you having to be there all the time to tell them how.

So how do you go about creating a more innovative and entrepreneurial environment?

Firstly we need to understand what entrepreneurship means. The press often define the term as starting and operating a new business. Managers on the other hand describe entrepreneurship in such terms as innovative, flexible, dynamic, risk taking, creative and growth oriented and these views are often used to describe the success of organisations such as Apple Computer, Google and General Electric.

However none of these definitions are precise enough for managers wishing a more entrepreneurial organisation. For every successful company there are thousands of new restaurants, clothing stores, and consulting firms who have tried to be innovative, creative and growth oriented – yet have failed.

So how can you be different? How can you make innovation, flexibility and creativity operational? To help answer these questions, we need to look at entrepreneurial behaviour.

Numerous writers on the topic suggest that the best approach is to view managerial behaviour in terms of extremes. At one extreme you have the entrepreneur who feels confident of his or her ability to seize opportunities, expecting surprises and the need to adjust to changes, with the ability to make the most of these changes and to make things happen. At the other extreme, you have the administrator who is fearful of change and the unknown and whose inclination is to bring things back to the way they were.

Most of us exist between these two extremes and research has shown that there is a close relationship between opportunity and individual needs. Companies of all sizes have difficulty in encouraging entrepreneurship when the individual’s needs and the company’s interest do not coincide. It is not an easy task.

The pressures that push a company to either end of the scale are often determined by factors of timing and resources coupled with personal, organisational and competitive forces.

However, the difference in approaches becomes apparent in response to the following questions.

Where is the opportunity for my business?

The first step to identify an opportunity requires a market or external approach rather than an internal or resource approach. It is important to remember here that most readily available information is generalised and intended to inform in a general way. Rarely is generalised information, which just about anyone can access, tailored enough to support business decision making, which has to occur in the context of a particular company’s situation.

The entrepreneur however is attuned to environmental changes, constantly scanning information, which may provide a favourable opportunity, while the administrator seeks to preserve resources and reacts defensively to possible threats.

Administratively oriented companies approach new opportunities more cautiously, while successful market oriented businesses are aware that change is inevitable and therefore keep their organisations learning.

Entrepreneurs are however not just opportunistic gamblers. They are also creative and innovative. They many not necessarily break new ground but perhaps may mix old ideas in such a way as to provide new services or applications. Some new software companies for example are simply altering slightly existing technology or repackaging it to accommodate new perceived market segments.

What resources do I have and how do I control them?

Necessity is the mother of invention and many people who start a business make imaginative use of their limited resources. An engineer may discover selling skills which she or he never knew they possessed or a restaurant owner may quickly adjust to waiting on tables. Most of the risk in entrepreneurial management lies in the effort to pursue opportunities with inadequate or inappropriate resources.

The only control that an entrepreneur needs from a resource is the ability to use it while an administrator believes that resources are inadequately controlled unless they are owned or on the payroll. Using external resources as required is in itself an opportunity to maintain costs while providing a service equal to or better than larger competitors. Entrepreneurs learn to use other people’s resources well while keeping the option open on bringing them in-house.

A small publishing company may hire a free lance to make editorial improvements, or contract with a typesetting company or binding company and even contract with a public relations firm to sell the book to stores. There is no need therefore to control all the resources necessary.

It should be remembered however that apart from the effective allocation of scarce resources, successful entrepreneurs seek plateaux of success where they can consolidate their gains before moving to pursue further opportunities. It is important, when possible, to pause to give both employees and internal systems time to adjust. This may not always be possible however as booming markets often don’t allow growing companies the luxury of a pause.

What structure is best?

In organising business, there is a distinct difference between the entrepreneur and the administrator. The entrepreneur tries to “feel” the way events are unfolding. The administrator on the other hand views organisational relationships more formally ie rights, responsibilities and authority.

Power and status, expressed in a hierarchy and financial rewards, push companies towards the administrative end with the control of the resources also influencing the approach to a business operation.

Businesses that use or rent resources by necessity develop informal networks both internally and externally from which new opportunities may be gleaned.

It is up to individual companies to allow favourable conditions for entrepreneurship to flourish. That means encouraging the pursuit of opportunity, the most appropriate commitment and use of resources and the breakdown of hierarchy. These goals are not that easy to reach particularly if your company needs to be turned around.

It is much easier and safer for companies to stay with the familiar than to explore the unknown. Only by encouraging change and experimentation can companies of all sizes adapt and grow in the midst of uncertainty.

 

The One Constant In Our Life Is Change

“Human beings are works in progress that mistakenly think they’re finished.” Dan Gilbert shares recent research on a phenomenon he calls the “end of history illusion,” where we somehow imagine that the person we are right now is the person we’ll be for the rest of time. Hint: that’s not the case. WATCH THIS VIDEO BELOW!

 

The New Supercompetitors

Since the mid-1990, the source of competitive advantage has been shifting.  Leading companies used to be diverse conglomerates that based their competitive strategy on assets, positions, and economies of scale. Today’s market leaders, by contrast, are more focused enterprises. If you aspire to become a supercompetitor, WATCH THE VIDEO BELOW:

If you haven’t done your analysis, maybe you might want to look at some techniques in my book here

Competing with free

While some may only grudgingly admit it, competition is good for business. The presence of competitors means that there are plenty of paying customers around. Also, by creating choice, competition forces you to compete for your customers’ attention and money, which, in turn, improves your focus on what it is that makes your business and its products unique and valuable to your customers.

Equally, competition results in better business practices. By watching what your competitors do, you can learn about their business and, in turn, learn how to make your business more efficient. Having competitors in the market means you must continually stay one step ahead, which has a very positive impact on innovation and consumer demand.

But not all competition is good – or, at least, certain types of competition can be very bad for business.

The most dangerous competitor is one whose primary competitive tool appears to be aggressive price competition, either rapidly moving prices down or, worse, selling products or services below cost, in an apparent effort to win sales volume.

How can your business compete with an ‘irrational’ competitor who offers equivalent products or service below cost or for free?

The first step is to return to the basics of competitive strategy, which is defining your business goals and objectives. As Michael Porter has observed:

“Economic value is created when customers are willing to pay a price for a product or service that exceeds the cost of producing it. When goals are defined in terms of volume or market share leadership, with profits assumed to follow, poor strategies often result.”

Smart businesses shoot for margin, not sales volumes and market share. While huge top-line numbers might appear more impressive, Year 9 maths belies the myth of market share: it is just as profitable to sell 1,000 widgets for $50 with a $5 margin as it is to sell 5000 widgets for $20 with a $1 margin.

Where you face intense (even irrational) price competition from one or more competitors, it is important to refocus your efforts on developing a value proposition that delivers a benefit, or set of benefits, that is different from that of your competitors and that creates unique value for a key set of customers.

Refocusing your efforts to target consumer segments for which you are able to create unique value, or which fall outside those segments targeted by price-driven competitors, will require strict discipline.

Usually it will involve making a series of trade-offs, such as ceasing development of certain product features, or abandoning certain market activities. The end objective is redefining your value proposition to avoid head-to-head competition with price-oriented competitors, and shifting your focus to those customers’ needs for which you have a competitive advantage in addressing.

It is also important to understand the underlying cause of the competitor’s apparent ‘irrationality’. It may be that the competitor is merely responding to competitive moves by other businesses – including, perhaps, yours.

You should review your recent market initiatives to determine whether they triggered the problematic response. You should also review how you are communicating your business’s strategy to the broader market.

Very few business leaders are, in fact, irrational, and if your competitors are able to mark out a discrete section of the market to play in, without going into head-to-head competition, they usually will.

Adapted from ” Competing with Free” by Mark Neely.

 

The Paradox Of Choice

Psychologist Barry Schwartz takes aim at a central tenet of western societies: freedom of choice. In Schwartz’s estimation, choice has made us not freer but more paralyzed, not happier but more dissatisfied. This is a wonderful video on the power of choice, watch it now.

 

 

                                                                                                                                                                                 

Understanding Millenials In The Worplace

Do you work with Millenials? This is one of the most insightful video we, at MindShifts®,  have seen on this topic. We had to share it with you.

 

INSTEAD OF RESOLUTIONS

Here are 8 thought provoking questions as you start the new year:

1. What am I doing when I feel most beautiful, or when I have been at my best?

2.  What is something you believe that almost nobody agrees with you on? (This is very tough question as originality is deceptively hard).

3. What are your superpowers? (tip – understand your strengths!)

4. What are you willing to try now that is new or different?

5. Say 10-30 years from now and looking back on your career, what do you want to say you have accomplished?

6. What would you include on your list of hoped for achievements?

7. In the next couple of years, what would you have eliminated off your bucket list?

8. What is your sentence?

Adapted from: Berger, W., “Find Your Passion with these 8 Thought-provoking Questions”, www.fastcompany.com, April 14, 2014

Better Conversations

10 Ways To Have Better Conversation

When your job hinges on how well you talk to people, you learn a lot about how to have good conversations. Celeste Headlee has worked as a radio host for decades, and she knows the ingredients of a great conversation: Honesty, brevity, clarity and a healthy amount of listening. In this insightful talk, she shares 10 useful rules for having better conversations. “Go out, talk to people, listen to people,” she says. “And, most importantly, be prepared to be amazed.” Watch this delightful video below and I hope you have better conversations.

Top Three Barriers To Growth

Top 3 Barriers To Growth

When I came across the results of this survey I did not know whether to cry or laugh. Instead I remembered a saying my father used to say: “the more things change, the more they stay the same.” And stay the same they have. These results are similar to survey results I had over 20 years ago. What am I talking about?

Held in conjunction with ‘AccountantsDaily’ earlier this year, My Business surveyed over 647 SMEs across Australia to get their take on what they saw as growth barriers to their businesses. Most (58%) said that they have been operating their businesses for 11+ years. We can say then that these businesses have been around a while.

So what were the top three barriers?

 1. Attracting new Customers – 34.2%

2. Availability of skilled staff or experienced managers – 14.9%

3. Competition – 10.5%

Each of these relates to the market or competitive environment. None of these are internal issues. If nearly 60% of your growth barriers are external why is it that business executives are so internally focused?

What does this say about the quality of strategic planning, marketplace knowledge and competitive thinking? Want to lower your barriers to growth? Then take the time to understand your competitive environment. Or you could give us a call.

 

 

 

Coping With Ambiguity

A wonderful article about Competitive Intelligence by my friend and colleague Ben Gilad & Magnus Hoppe was published recently in the Harvard Business Review. Here is a brief overview of the article.

While mistakes allow individuals to learn and grow, they can also be very costly to any company. You may recall the Maggi’s Noodle Crisis in 2015 in India, which resulted in a loss of $277 million in sales, a five-month ban on Maggi and a cost of $70 million in the recall. The damage to the brand name was even larger – half a billion dollars. Paul Buckle, Nestle’s CEO, was quoted by Fortune as saying, “This is the case where you can be so right and yet so wrong… We live in an ambiguous world. We have to be able to cope with that.”

Nestle was not able to cope with that – but a competitor was.

Baba Ramdev, owner of the fastest growing local consumer goods company in India, took advantage of Nestle’s mistake by launching a product advertised as ‘healthier’ and at a lower price point than Maggi.

The really frustrating thing about the story above, is that so few companies learn from such mistakes.

So what can you do to avoid similar mistakes in the future?

According to Gilad and Hoppe, “we must start to think differently about how business, management, and strategic intelligence works. What companies today need isn’t meticulous plans, but to constantly reassess the business and its markets and competitors.“

How often do you reassess your business environment? How can different areas of management work together on creating insights that have real competitive implications?

Below are four radical changes that will get the ball rolling for you:

 

  1. Manage talent differently – recruit different mindsets. Self-hiring is indeed most dangerous in an ambiguous world.
  2. Use competitive intelligence differently – think of it as a process for organisational thinking to outsmart competitors in an ambiguous world.
  3. Work together – with decision makers for better outcomes
  4. Study personal use of intelligence – understand how intelligence is used to enhance organizational learning

Want to read the full article: https://hbr.org/2016/06/the-right-way-to-use-analytics-isnt-for-planning

How are you coping with ambiguity?

Sebastian Wernicke Collecting Data

Does collecting more data lead to better decision-making?

Competitive, data-savvy companies like Amazon, Google and Netflix have learned that data analysis alone doesn’t always produce optimum results. In this talk, data scientist Sebastian Wernicke breaks down what goes wrong when we make decisions based purely on data — and suggests a brainier way to use it. This wonderful video addresses the difference between successful decision-making and unsuccessful decision-making —  with data. I highly recommend this video.

Simplify Your Strategy

Understanding Strategy

Strategy is the domain of leaders and getting everyone on board is a critical element for strategic success. However for a strategy to influence action, it must be remembered. To be remembered, it must be understood, To be understood a strategy must be simple. This wonderful video addresses how to simply strategy.

Donald Dull from Harvard  poses three questions to break down complex strategies in actionable steps. I highly recommend this video.