Bad strategy beware: there’s a new superhero in town. Read the first three pages of the first ever business strategy comic book, “The Secret Powers of Strategyman.” To read the entire comic book and take the “Are You Strategic?” quiz, go to “Rich Horwath’s Files” and download “Strategyman Comic Book” at… READ MORE
In an attempt to piece together a fuller picture of strategic thinking, I’ve created the following infographic. It’s designed to highlight key research findings and examples related to strategic thinking, or in some cases, a lack thereof. The data sources outside of my research have been listed after the graphic for those interested in greater detail. (Click to enlarge) Embed this image on your site: <a… READ MORE
Good people of the business world, take cover! No, it’s not a tsunami, or hurricane or even a tropical storm. It’s the new scapegoat: headwinds. In a Wall Street Journal article entitled, “Sprint Loses More Customers,” Sprint Nextel CFO Joseph Euteneuer said, “We faced a number of competitive headwinds that became more pronounced in the second quarter.” Earlier in the week, Border’s began shuttering their roughly 400 remaining… READ MORE
Are you outperforming your competition? If an avalanche of excuses is the first thing that comes to mind, then the answer is most likely no. When it comes to market share, revenue, profits, new sales, or other key metrics, at some point your level of competitiveness must be honestly assessed. A Wall Street Journal article reported cellphone maker Nokia’s quarterly profit dropped 21% from a year earlier. Chief Executive Stephen Elop… READ MORE
“We’re adding a little something to this month’s sales contest. As you all know, first prize is a Cadillac Eldorado. Anybody want to see second prize? Second prize is a set of steak knives. Third prize is you’re fired.” Alec Baldwin in the film Glengarry Glen Ross David Mamet’s Pulitzer Prize-winning play Glengarry Glen Ross is a raw account of the sales profession as Mamet experienced it in the late 1960′s. While much has changed in the… READ MORE
For the December issue of Chief Learning Officer magazine, I had the privilege of writing an article entitled “Triple-A Thinking,” which provided an overview of the three disciplines of strategic thinking: Acumen, Allocation and Action. I use the word “discipline” as it relates to strategic thinking because as Michael Porter of Harvard Business School once wrote, “Strategic thinking rarely occurs spontaneously.” In fact, it rarely occurs at all…. READ MORE
Real-time data is becoming more common in a variety of areas, which has the potential to significantly impact the way we do business. This past week, I had the opportunity to chat with Matt Egan, writer for FoxBusiness.com, on a story he wrote entitled, “NFL Tackles Real-Time Sales Data.” The article describes a new technology just implemented by the New York Jets of the National Football League. The software application provides the team with… READ MORE
British artist Damien Hirst has his fans and his critics. What can’t be argued is his ability to differentiate himself and his work through a well-conceived strategy that has jolted the business world of art. While his art works such as “The Physical Impossibility of Death in the Mind of Someone Living,” featuring a shark in a tank of formaldehyde, have caused great debate on what is or is not art, he has transformed a century-old business… READ MORE
Feel like you’re trapped in a cage with your competitors? Too close for comfort? Clawing at each other day in and day out? Inevitable? Hardly. But you’re not alone. In 1934, Moscow University professor G. F. Gause published the results of a landmark study. He placed small animals in a bottle with an ample amount of food. If the animals were of the same genus and a different species, they were able to live together peaceably. However, if the… READ MORE
Please complete the following ten sentences about your spouse, partner or significant other: The first time we met, they wore… Their favorite flavor of birthday cake is…. The name of the high school they attended is… If the vacation options were a sandy beach, a snowy mountain or visiting a foreign country, they’d prefer… When it comes to movies, if a drama, comedy, action, or horror film are the choices, they’d pick the… Their… READ MORE
