what is your strategy?
DESCRIPTION
10 questions about strategy.TRANSCRIPT
What is your strategy?
Question # 1
What is your purpose?What is not your purpose?
Further inspiration
https://www.teacherspayteachers.com/Product/What-is-your-purpose-1438787https://www.teacherspayteachers.com/Product/Examples-of-purpose-2350843
Question # 2
What values do you have?What values do you not have?
Max DePree
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Leadership is a function of questions. And the first question for a leader always is:
Who do we intend to be?
Why do we do it this way?
A question to ask yourself and people you work with:
https://hbr.org/2015/09/5-strategy-questions-every-leader-should-make-time-for
Further inspiration
https://www.teacherspayteachers.com/Product/Questions-to-discover-your-values-1329394https://www.teacherspayteachers.com/Product/Human-values-1633047
Question # 3
What do you do? What do you not do?
Strategy is about1. choosing what not to do.2. combining what you do in a unique way.
https://hbr.org/1996/11/what-is-strategy
When you think about all the activities you have moved into, to what extent do they make sense together?
https://hbr.org/2015/09/5-strategy-questions-every-leader-should-make-time-for
Examples of what IKEA chooses to do
Examples of what IKEA chooses not to do
Clear displays in the stores which help people serve themselves.
Child care services. Food services at the exit
that serve, for example, Swedish meatballs.
Having many sales associates in the stores.
https://hbr.org/1996/11/what-is-strategy
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Strategic positioning means performing
different activities from rivals’ or
performing activities in different ways.
https://hbr.org/1996/11/what-is-strategy
What Southwest Airlines choosesto do andnot to do
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Seeking out the new and unusualshould be the strategist’s aim.
http://www.mckinsey.com/insights/strategy/hidden_flaws_in_strategy
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Let’s say you were starting over from scratch.
Are the tasks, you do today, the tasks you would you? If yes, why?
https://hbr.org/2011/08/key-questions-for-leaders
Industry attractiveness
Competitive strengthhttp://www.mckinsey.com/insights/strategy/enduring_ideas_the_ge_and_mckinsey_nine-box_matrix
The nature of the product is changing, with many products transcending their roles as material
possessions that people own to become services to which they buy access.
http://dupress.com/articles/future-of-manufacturing-industry/
Sourceshttp://www.mobility.chhttp://stadtrad.hamburg.de
Market share
Cash cowsInvest money in ”question marks” / new promising ideas.
Poor dogs Move out of business area. Move out of market.
Stars Growth strategy. Invest to stay innovative
and efficient.
Question marks Select ideas with the
largest potential. Invest in ideas with the
largest potential.
Market growth
Adapted from the bcg matrix.
1. What will you do?2. What will your users and/or suppliers do?
http://www.mckinsey.com/insights/strategy/enduring_ideas_the_business_system
Further inspiration
https://www.teacherspayteachers.com/Product/Stop-and-start-doing-exercise-1594003
Question # 4
What needs do users and potential users have?
Southwest Airlines defined its target market to include
regular bus travelers - people who wanted to get from point A to point B in the lowest-cost, most convenient way.
http://www.strategy-business.com/article/cs00002?pg=all
http://www.slideshare.net/IanMcCarthy/when-customers-get-clever-managerial-approaches-to-dealing-with-creative-consumers
Low cost Differentiation
Broad target Low cost strategy Differentiation strategy
Narrow target
For examplecertain peopleand/or countries
Low cost focus strategy
Example:How can we make education materials available to young people in Kenya?
Differentiation focus strategy
Further inspiration
https://www.teacherspayteachers.com/Product/Needs-that-people-have-1530997
Question # 5
Which distribution channels do you use?
Which do you not use?
Users / students / patients
Blogs and other social media / Other digital platforms / Homes of people / Stairs in apartment buildings / Streets / Event locations / Supermarkets and
other shops / Office buildings / Production facilities / Schools and universities / hospitals / Sports centers / Train stations / Airports / Buses / Trains / Trams
Suppliers
You
Digital technologies are narrowing the distance between manufacturer and
consumer, allowing manufacturers to bypass traditional intermediaries.
http://dupress.com/articles/future-of-manufacturing-industry/
Instead of building large stocks of furniture, as its competitors do, MyFab provides a catalog of potential designs.
Customers vote on them, and the most popular ones are put into production and shipped to buyers directly from the manufacturing sites - with no retail outlets, inventories, complicated distribution, or logistics networks.
http://hbr.org/2011/05/how-to-build-risk-into-your-business-model
To reduce the time it takes to distribute products to customers, Zara, Dell, and
Timbuk2 work with production facilities that are close to end customers.
http://hbr.org/2011/05/how-to-build-risk-into-your-business-model
Bottle-neck ideas / knowledge / materials / products
Non-critical ideas / inputs / materials / products
Strategic ideas / inputs / materials / products
Easily substitutable ideas / inputs /materials / products.
http://www.newpointconsulting.com/pdf/BeyondKraljic_DILF.pdf
Number of suppliers
Value that purchase has for the buyer
Dependency of supplier.Market situation.
Independent power position.
Alliance situation.Collaboration possibility.Buyer dominance
http://www.newpointconsulting.com/pdf/BeyondKraljic_DILF.pdf
Buyer power resources
Supplier power resources
Further inspiration
http://www.slideshare.net/frankcalberg/11-advantages-of-using-a-blog-for-teachinghttp://www.slideshare.net/frankcalberg/channels-to-deliver-health-services
Question # 6
In which markets do you work?In which markets do you
not work?
Question Examples
Where are users? In which countries?In which cities?In which parts of a city?
When do users need services? In the evening?
On weekends?
http://www.strategy-business.com/article/cs00002?pg=all
Examples of questions
80% of growth is explained by decisions about where to work.
http://www.mckinsey.com/insights/strategy/the_art_of_strategy
Management’s overriding goal is to position a company and its products where the market opportunity is highest.
http://ww2.cfo.com/strategy/2004/02/best-practice-doesnt-equal-best-strategy/
Make choices about where you will play,
and where you won’t.
https://hbr.org/2013/01/the-two-choices-to-make-in-str.html
Joan Magretta: Understanding Michael Porter: The essential guide to competition and strategy”, location 2550.
When you go to a foreign market, remember that you are not trying to serve the whole market.
You are looking for people who value what you do.
Question # 7
Which types of capital / assets / resources / competencies
do you have / need?Which do you not need?
Further inspiration
https://www.teacherspayteachers.com/Product/What-types-of-capital-are-you-developing-2244992
Question # 8
How are you rewarded / paid / compensated / praised /
financed / funded?How are you not rewarded?
Further inspiration
https://www.teacherspayteachers.com/Product/How-can-people-pay-2384341https://www.teacherspayteachers.com/Product/How-should-people-be-paid-1374105
Question # 9
What external changesare happening that you
need to adapt to?
2 questions for you1. What changes are lasting?2. What changes are not lasting?
http://edgeperspectives.typepad.com/edge_perspectives/2014/12/the-big-shift-in-strategy-part-1.html
Further inspiration
http://www.slideshare.net/frankcalberg/pestel
Question # 10
How will you learn and adapt to changes?
In a world of accelerating change, one of our
greatest imperatives is to unlearn - to
challenge and ultimately abandon some of our most basic beliefs about how the world works and what is required for success.
http://edgeperspectives.typepad.com/edge_perspectives/2015/01/the-big-shift-in-strategy-part-2.html
In a time of accelerating change, learningis essential to success.
Whatever we know today is depreciating in value at an increasing rate.
http://edgeperspectives.typepad.com/edge_perspectives/2015/01/the-big-shift-in-strategy-part-2.html
http://www.fastcompany.com/3043056/at-this-fake-hospital-linen-schlepping-droids-robo-patients-and-the-future-of-medicine
Kaiser Permanente is testing new ways of
curing people at a fake hospital.
Further inspiration
https://www.teacherspayteachers.com/Product/Learning-strategies-1487708
