1. Six strategic questions
- What is our core business, and can we lead in that business? If we can’t, how can we create a path to sustainable, profitable growth?
- What are the biggest threats to our core business over the next decade, and what can we do now to start responding to these threats?
- How can we manage the complexity of execution? What is the set of repeatable business models that will help us win in our core markets?
- How can we compete not only on scale, but also on speed? How can we rediscover our sense of “founder’s mentality”?
- How can we get better and faster at business building? How can we nurture the various communities in our organisation that will help us create new businesses?
- What leadership qualities do I need in my executive team and top leaders to respond quickly in times of uncertainty, to create the required pull from the front line and to act like scale insurgents – the companies that compete and win on the basis of scale and speed?
2. Five strategic tensions
Every business strategy is about navigating and balancing five core tensions. They are:
- delivering the core business versus developing new businesses
- competing through scale versus speed
- launching horizontal initiatives versus vertical initiatives
- discovering your business definition during the strategy process versus shaping and influencing your business definition to gain competitive advantage
- developing your business strategy as a map versus a compass that guides you through alternative futures.
Do you need help putting these principles into practice in your own business? For further guidance, email me or call me on 020 7099 2621.