Friday is almost in the rear-view mirror. How much time did you spend talking about strategic issues this week? Research published in the Harvard Business Review showed that 85% of executive leadership teams spend less than one hour per month discussing strategy, with 50% spending no time at all. Contrast that with Amazon.com. Amazon’s CEO Jeff … Continue reading Time: Are You Spending or Investing?
After a determination has been made where resources should be allocated to provide the greatest differentiated value to customers, a plan for leading and monitoring the execution is needed. An article published in the Wall Street Journal yesterday entitled “Strategic Plans Lose Favor,” discussed how the traditional strategic plan is becoming obsolete. Any strategic plan … Continue reading “What’s the Plan, Stan?”: Step 4 in Resource Allocation
We’ve determined where we’re currently investing our resources and what’s happening relative to the context of our business in the four areas of market, customers, competitors and company. Now it’s time to identify the differentiated value we provide to customers and allocate resources accordingly. A great deal of resource allocation goes like this: “Here’s what … Continue reading “Differentiate or Destruct”: Step 3 in Resource Allocation
Once we’ve determined where we’re currently investing our resources (time, talent and budget), the next step is to think through the context of the business to understand “What’s happening?” Before a pilot takes the plane up, he reviews a pre-flight checklist to determine what’s happening in the current location and along the way to the … Continue reading “What’s Happening?”: Step 2 in Resource Allocation
In a recent article on local government in Chicago entitled, “Your Town’s Toughest Challenge,” the predominant challenge listed was resource allocation. Specifically, how do leaders decide where to focus their time, energy and budget dollars to grow their communities? Whether it’s in business, government or the not-for-profit sector, resource allocation is an age-old challenge. But … Continue reading “You Are Here”: Step 1 In Resource Allocation
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