Connie defines what business strategy is. This is part 1 of a 3-part podcast series on strategy.
The Dangers of Complacency
Complacency is self-satisfaction. It is the result of a successful track record that spurs confidence. When a business is complacent, they are exposed to the following dangers: Settle into a rut of out-dated practice—People become very good at doing the same routine the same old way. They continue to follow… [More]
Ceding the Slogan “Don’t Leave Home without It”
It was 38 years ago that American Express successfully launched the “Don’t Leave Home without It” campaign to promote its credit card. The campaign was so successful that it built a premium image for its card in consumer’s mind. Today, the slogan may be better suited for the smartphone. According… [More]
Holding Off Growth
A client once said to me, “I am not able to take on more work because I can’t find experienced people.” He didn’t want to hire junior people and train them. The fear is that they would leave for higher pay opportunities after they learn everything. This is like saying… [More]
Staying the Course
The strategy for a business defines the scope of product and market the business would pursue. They in turn determine the capabilities required for execution. The business environment is dynamic; opportunities are vast and unanticipated changes could arise any time. A business could steer off course when its strategy is… [More]
“One Microsoft” Makes Total Sense
Microsoft announced its latest corporate restructuring effort to create “One Strategy, One Microsoft.” Going forward, there will be one core strategy supported by functional groups. Instead of having disparate engineering and marketing teams to drive their specific initiatives, the new structure would effect tighter integration of work across products and… [More]
Top Reasons for an Organization’s Demise
Connie explains the three top reasons for a company’s demise. Lack of a strategy Not able to act quickly Poor management of finances
Best Ideas to Increase Your Competitive Advantage
Connie shares tips on how companies can increase their competitive advantage. 1. Build on the value proposition of your business 2. Know your competition and differentiate your offerings 3. Anticipate customer needs 4. Innovate 5. Optimize the cost structure 6. Drive operational efficiency 7. Build expertise in your employees
Do You Have a Plan B?
Upon its announcement of the departing CEO Christine Day, Lululemon’s stock price took a deep dive of 18%. The company has built a loyal customer base for its yoga wear. It has recovered nicely from an earlier kerfuffle around its ultra sheer luon yoga pants. The surprising announcement got the… [More]
Why Compensation on Performance is a Problem
Connie shares some problems that can arise from compensating strictly on performance. 1. Employees only focus on areas they are good at, and ignore those that need improvement 2. Employees are unwilling to accept measurement on work which they don’t have control 3. Employees will see this as a way… [More]
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