Friday, May 13, 2005
Jack Welch on Strategy
Really simple:
Here's a very good summary by David Rowley, VP BD @ Macrovision,
"In his most recent book, Winning, retired chairman and CEO of GE Jack Welch provides a chapter on a simple, no-nonsense 5-slide framework for making sure your strategy is grounded in some sense of reality."
- Execution is harder than Strategy
- A simple strategy is difficult to execute
- A complex strategy is very difficult to execute
- Therefore, keep the strategy simple and focus on execution
Here's a very good summary by David Rowley, VP BD @ Macrovision,
"In his most recent book, Winning, retired chairman and CEO of GE Jack Welch provides a chapter on a simple, no-nonsense 5-slide framework for making sure your strategy is grounded in some sense of reality."
The Current Playing Field
- Who are the competitors in this business, large and small, new and old?
- Who has what share, globally and in each market? Where do we fit in?
- What are the characteristics of this business? Is it commodity or high value or somewhere in between? Is it long cycle or short? Where is it on the growth curve? What are the drivers of profitability?
- What are the strengths and weaknesses of each competitor? How good are their products? How much does each one spend on R&D? How big is each sales force? How performance-driven is each culture?
- Who are this business's main customers and how do they buy?
Competition
- What has each competitor done in the past year to change the playing field?
- Has anyone introduced game-changing new products, new technologies, or a new distribution channel?
- Are there any new entrants, and what have they been up to in the past year? Who is behind them?
What You've Been Up To
- What have you done in the past year to change the competitive playing field?
- Have you bought a company, introduced a new product, stolen a competitor's key salesperson, or licensed a new technology from a start-up?
- Have you lost any competitive advantages that you once had - a great salesperson, a special product, a proprietary technology or patent?
What's Around The Corner?
- What scares you most in the year ahead? What could competitors do to nail you?
- What new products/technologies could your competitors launch that might change the game?
- What M&A deals would knock you off your feet?
What's Your Winning Move?
- What can you do to change the playing field - is it an acquisition, a new product, globalization?
- What can you do to make customers stick to you more than ever before and more than to anyone else?
Comments:
<< Home
The problem with most strategy development is that most strategies are not properly designed to be aligned to the current situation at hand.
In the case of strategy execution, most teams do not understand what the planned goal is and what specific objectives are.
Sometimes, individual team implementers is not given proper directions on how their actions connect to other milestones.
@ the same time, if they do not believe in their mission as a team.
The project will fail.
Take the 1990's Standish report where only 30% of all projects succeed on time, under budget, and the agreed # of features.
Most of those successful projects works only if there are experienced professional who has a successful performance record, that can work as a team. ... This is quite rare. ...
Professionally, one can outsource cheap talent that works in a team. It is rarely one can get world class talent that can works as a world class team. ... Each one of us has seen groups of professionals fail because they cannot work as a team.
This action of poor teamwork has occurred everywhere from high tech industry to professional sports.
Based on current trends, this is how the world is. ...
Bottom line: Current process of strategy development and implementation can be declared as flawed.
Professionally, it's time for an better "strategy" idea whose time have come.
Agree!? ...
Post a Comment
In the case of strategy execution, most teams do not understand what the planned goal is and what specific objectives are.
Sometimes, individual team implementers is not given proper directions on how their actions connect to other milestones.
@ the same time, if they do not believe in their mission as a team.
The project will fail.
Take the 1990's Standish report where only 30% of all projects succeed on time, under budget, and the agreed # of features.
Most of those successful projects works only if there are experienced professional who has a successful performance record, that can work as a team. ... This is quite rare. ...
Professionally, one can outsource cheap talent that works in a team. It is rarely one can get world class talent that can works as a world class team. ... Each one of us has seen groups of professionals fail because they cannot work as a team.
This action of poor teamwork has occurred everywhere from high tech industry to professional sports.
Based on current trends, this is how the world is. ...
Bottom line: Current process of strategy development and implementation can be declared as flawed.
Professionally, it's time for an better "strategy" idea whose time have come.
Agree!? ...
<< Home
