2015-06-11 Let's Talk Strategy
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The document discusses strategy and strategic planning. It defines strategy as a handful of decisions that drive most actions, are difficult to change, and have the greatest impact on objectives. Strategic planning develops frameworks rather than blueprints, and strategy must involve ongoing management and action. Effective strategy considers different levels (tactical, operational, enterprise) and starts from the current situation or an aspirational vision. Execution is also key to making strategy real.
2015-06-11 Let's Talk Strategy
- 1. 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM Thrive. Grow. Achieve. Lets Talk Strategy: Learning the Strategy Language Tara Rethore, CEO, M Beacon Enterprises, LLC June 11, 2015
- 2. Lets Talk Strategy!TM #Strategy www.MBeaconEnterprises.com +1 703 625 9124 Info@MBeaconEnterprises.com
- 3. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. 2 Lets Talk Strategy!TM
- 4. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Articulate the challenge 3 Lets Talk Strategy!TM
- 5. Mission Vision Values Strategy 4 Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved.
- 6. 5 Its kind of like moving a pyramid. 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 7. 6 So, what is strategy? 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 8. Helpful to frame strategy as decisions. 7 *Kevin P. Coyne and Somu Subramaniam, Bringing Discipline to Strategy, The McKinsey Quarterly, 1996 Number 4. Much earlier, Henry Mintzberg framed strategy in a similar way as summarized in the article, Crafting Strategy, HBR, July-August 1987. Strategy is a handful of decisions that: Drive or shape most of a companys subsequent actions Are not easily changed once made Have the greatest impact on whether a company meets its strategic objectives* 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 9. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Identify the decisions you need 8 Lets Talk Strategy!TM
- 10. 9 Strategic Planning Whats the difference? 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 11. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. 10 Lets Talk Strategy!TM So what?
- 12. 11 Strategy is about trade-offs. 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 13. 12 Strategy is about trade-offs. Thus, strategy development is about frameworks (not blueprints). 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 14. 13 Strategy is about trade-offs. Thus, strategy development is about frameworks (not blueprints). To be effective, it must be about action and ongoing management. 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 15. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Two ways to make strategy real. 1. Know your vantage point 2. Choose where to start Lets Talk Strategy!TM 14
- 16. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Two ways to make strategy real. 1. Know your vantage point 2. Choose where to start Lets Talk Strategy!TM 15
- 17. 3 vantage points make strategy real. Tactical Operational Enterprise 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM 16
- 18. 3 vantage points make strategy real. Tactical Operational Enterprise Think: for the benefit of the Enterprise Incorporate: How does my expertise contribute? Specify: How do we get this done together? 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM 17
- 19. Execution: Playing chess on 3 levels 息 M. Beacon Enterprises, LLC. All rights reserved. 18
- 20. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. 19 Lets Talk Strategy!TM How does that play out in real life?
- 21. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Two ways to make strategy real. 1. Know your vantage point 2. Choose where to start Lets Talk Strategy!TM 20
- 22. Aspirational starts with what could be. Conditional starts with what is. Both are needed. See also: Arthur D. Littles Ambition Driven Strategy, 1999. Lets Talk Strategy!TM 21 息 M. Beacon Enterprises, LLC. All rights reserved.
- 23. 22 Rule #1: Where you start matters. 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM
- 24. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. 23 Lets Talk Strategy!TM How does that play out in real life?
- 25. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Rule #2: Strategy is not linear. Stuff happens. Your world shifts. Dealing with that requires agility and active management. Sometimes you revisit the middle. Sometimes you start over. 24 Lets Talk Strategy!TM
- 26. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. Rule #3: Its all about execution. Having a plan is one thing. Executing is another. Image courtesy Disney via Bing Images 25 Lets Talk Strategy!TM
- 27. Throughout address 2 questions. 26 息 M. Beacon Enterprises, LLC. All rights reserved. Lets Talk Strategy!TM To what end? So what?
- 28. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. 27 息 M. Beacon Enterprises, LLC. All rights reserved. How will you move that pyramid? Lets Talk Strategy!TM
- 29. Lets Talk Strategy!TM 息 M. Beacon Enterprises, LLC. All rights reserved. For more information Contact: Tara Rethore Chief Executive Officer, M. Beacon Enterprises +1 703.625.9124 Follow: @TRethore Subscribe: Strategy for RealTM Newsletter M. Beacon Enterprises LLC is a strategy development and execution consulting firm founded in 2007. We work collaboratively with individuals and organizations to ensure that the results solve problems in a way that makes sense for each business. We call this approach Strategy for real TM. 28 Lets Talk Strategy!TM