2015-06-11 let's talk strategy
TRANSCRIPT
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
Thrive. Grow. Achieve.
Let’s Talk Strategy: Learning the Strategy Language
Tara Rethore, CEO, M Beacon Enterprises, LLC
June 11, 2015
Let’s Talk Strategy!TM
#Strategy
www.MBeaconEnterprises.com +1 703 625 9124
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
2
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
Articulate the challenge
3
Let’s Talk Strategy!TM
Mission
Vision
Values
Strategy…
4
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
5
It’s kind of like moving a pyramid.
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
6
So, what is strategy?
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
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 company’s subsequent actions
• Are not easily changed once made
• Have the greatest impact on whether a company meets its strategic objectives*
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
Identify the decisions you need
8
Let’s Talk Strategy!TM
9
Strategic Planning
What’s the difference?
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
10
Let’s Talk Strategy!TM
So what?
11
• Strategy is about trade-offs.
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
12
• Strategy is about trade-offs.
• Thus, strategy development is about frameworks (not blueprints).
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
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.
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
Two ways to make strategy real.
1. Know your vantage point
2. Choose where to start
Let’s Talk Strategy!TM
14
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
Two ways to make strategy real.
1. Know your vantage point
2. Choose where to start
Let’s Talk Strategy!TM
15
3 vantage points make strategy real.
Tactical
Operational
Enterprise
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
16
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?”
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
17
Execution: Playing chess on 3 levels
© M. Beacon Enterprises, LLC. All rights reserved. 18
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
19
Let’s Talk Strategy!TM
How does that play out in
real life?
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
Two ways to make strategy real.
1. Know your vantage point
2. Choose where to start
Let’s Talk Strategy!TM
20
Aspirational starts with what could be.
Conditional starts with what is.
Both are needed.
See also: Arthur D. Little’s “Ambition Driven Strategy”, 1999.
Let’s Talk Strategy!TM
21 © M. Beacon Enterprises, LLC. All rights reserved.
22
Rule #1: Where you start matters.
© M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
23
Let’s Talk Strategy!TM
How does that play out in
real life?
Let’s Talk Strategy!TM
© 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
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
Rule #3: It’s all about execution.
Having a plan is one thing. Executing is another.
Image courtesy Disney via Bing Images
25
Let’s Talk Strategy!TM
Throughout – address 2 questions.
26 © M. Beacon Enterprises, LLC. All rights reserved.
Let’s Talk Strategy!TM
To what end?
So what?
Let’s Talk Strategy!TM
© M. Beacon Enterprises, LLC. All rights reserved.
27 © M. Beacon Enterprises, LLC. All rights reserved.
How will you move that pyramid?
Let’s Talk Strategy!TM
Let’s Talk Strategy!TM
© 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
Let’s Talk Strategy!TM