There is a fifth dimension beyond that which is known to most managers. It is a dimension as vast as space and as timeless as infinity. It is the middle ground between art and science, between the qualitative and quantitative and it lies between the pit of a manager’s fears and the summit of their knowledge. That’s the signpost up ahead–your next stop, the Strategylight Zone. The time: 5:30 pm. The place: a company, any company, maybe… READ MORE
Here’s a quick quiz you can share with folks in your group to see how strategic people are (answers follow the quiz): 1. At the heart of business strategy is: A. The intelligent allocation of limited resources. B. Distributing resources across all potential growth opportunities. C. Working to be better and faster than the competition. 2. Successful business strategy is about: A. Being better than the competition. B…. READ MORE
The two terms “strategy” and “tactics” are misused, confused and abused in many different ways. The difference between strategy and tactics is often described as “strategy is long-term and tactics are short-term.” While the two terms may adopt these characteristics at certain times, this is an inaccurate and incomplete way of explaining their meanings. Strategy and tactics are both how you will achieve your goals and objectives. Strategy is… READ MORE
A feature on many of today’s automobiles is the voice navigation system. Here’s what it might sound like if the voice navigation system (VNS) were applied to a business: VNS (alluring female voice): Please enter a destination. Manager: I’d like to grow market share and increase shareholder value. VNS: Please enter a valid destination. Manager: I’ve already told you I want to grow market share and increase shareholder value. Oh yeah,… READ MORE
Take a close look at your organization’s strategy. Is it truly a strategy? Or is it a goal masquerading as a strategy? When Yahoo and Microsoft announced their web-search deal, Yahoo CEO Carol Bartz said, “Our strategy as a company is growing audience and enhancing our display-advertising business. That is what really makes sense.” What really doesn’t make sense is that Ms. Bartz identified their goals as their strategy. To help… READ MORE
