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The Secrets of a Great Strategy

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The Secrets of a Great Strategy

  1. 1. The secrets of a great strategy Rise Above with Reynolds Consulting Membership Program Webinar May 18, 2011
  2. 2. The Six Secrets <ul><ul><li>Strategy needs to drive the business; it is not optional in a high performance business </li></ul></ul>
  3. 3. The Enterprise Model (Proprietary) Culture and Leadership The Market Environment Business Processes Human Capital Knowledge/ Information Management Organizational Structure Goals and Measures Strategy Business Capabilities
  4. 4. The Secrets <ul><li>Strategy needs to drive the business; it is not optional in a high performance business </li></ul><ul><li>Great strategy is “out-side in” not “inside-out” </li></ul>
  5. 5. Outside-In Thinking- The Relevant Marketplace: Get Granular <ul><li>Market trends and growth rates </li></ul><ul><li>Share shifts </li></ul><ul><li>Segment-level analysis </li></ul><ul><li>Technology-driven changes </li></ul>
  6. 6. Key Questions: <ul><li>Who is your target customer? </li></ul><ul><li>Are you thinking like your customer? </li></ul><ul><ul><li>Do you know what they think? </li></ul></ul><ul><li>How are you different from your competitors or are you? </li></ul>
  7. 7. Where do great growth ideas come from? The power of outside-in thinking: <ul><li>Swiffer products </li></ul><ul><li>Luggage on wheels </li></ul><ul><li>The first microwave </li></ul><ul><li>Drive-through pharmacy </li></ul><ul><li>Callaway golf clubs </li></ul>What was the last great idea in your industry? _________________________________________________ What will the next one be? ___________________________
  8. 8. The Secrets <ul><li>Strategy needs to drive the business; it is not optional in a high performance business </li></ul><ul><li>Great strategy is “out-side in” not “inside-out” </li></ul><ul><li>Avoid “me-too-ism” </li></ul>
  9. 9. Me-too-ism = Matching competitive capabilities
  10. 10. Manufacturer Competitive Map Example #3 #2 #1 High Low Techn Cap Reln Product Breadth Lead Time Tech Spt Quality Raw Mat Global Price
  11. 11. <ul><li>The Math Doesn’t Work: </li></ul><ul><li>Do what competition does > Adds cost </li></ul><ul><li>Your business is equivalent > No benefit </li></ul><ul><li>You compete on price > Margin suffers </li></ul>
  12. 12. Southwest Airlines Competitive Map High Other airlines Southwest Airlines Car Low Speed Friendly Hub Connections Seating Choice Lounges Meals Price Frequency
  13. 13. The Secrets <ul><li>Strategy needs to drive the business; it is not optional in a high performance business </li></ul><ul><li>Great strategy is “out-side in” not “inside-out” </li></ul><ul><li>Avoid “me-too-ism” </li></ul><ul><li>Growth accelerates where needs overlap capabilities </li></ul>
  14. 14. Company Capabilities Customer needs that they don’t recognize Customer known needs that are undermet Growth Sweet Spot Growth “sweet spot”
  15. 15. The Secrets <ul><li>Strategy needs to drive the business; it is not optional in a high performance business </li></ul><ul><li>Great strategy is “out-side in” not “inside-out” </li></ul><ul><li>Avoid “me-too-ism” </li></ul><ul><li>Growth accelerates where needs overlap capabilities </li></ul><ul><li>Execution determines success; you must be able to implement </li></ul>
  16. 16. Defy the forces of business gravity What holds you back from accelerated growth? <ul><li>Economic influences </li></ul><ul><li>Time </li></ul><ul><li>Success </li></ul><ul><li>Habit </li></ul><ul><li>Resource allocation </li></ul><ul><li>Fear </li></ul><ul><li>What else? </li></ul>
  17. 17. The Secrets <ul><li>Strategy needs to drive the business; it is not optional in a high performance business </li></ul><ul><li>Great strategy is “out-side in” not “inside-out” </li></ul><ul><li>Avoid “me-too-ism” </li></ul><ul><li>Growth accelerates where needs overlap capabilities </li></ul><ul><li>Execution determines success; you must be able to implement </li></ul><ul><li>Resource alignment is key to successful implementation </li></ul>
  18. 18. Where the performance goes: <ul><ul><ul><ul><ul><li>Source: Turning Great Strategy Into Performance, HBR, July 2005 </li></ul></ul></ul></ul></ul>
  19. 19. 37% Performance Loss:
  20. 20. Defy the forces of business gravity What holds you back from accelerated growth? <ul><li>Economic influences </li></ul><ul><li>Time </li></ul><ul><li>Success </li></ul><ul><li>Habit </li></ul><ul><li>Resource allocation </li></ul><ul><li>Fear </li></ul><ul><li>What else? </li></ul>
  21. 21. Thank you! <ul><li>Questions? </li></ul><ul><li>Contact [email_address] </li></ul>

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