Part 1 of this series concluded that operational effectiveness is not strategic innovation. Nonetheless, this does not diminish the role and importance of operational effectiveness, as it remains essential to superior performance; instead, it highlights the risks associated with mislabeling operational effectiveness as strategy. “The danger of confusing between strategy and operational effectiveness is that […]
It was Peter Drucker (1988, p.76), renowned management consultant, who suggested that “the single most important thing to remember about any enterprise is that there are no results inside its walls. The result of a business is a satisfied customer… results exist only on the outside.” When evaluated from a global perspective, including the continued […]
I previously worked for a company whose unofficial strategic vision consisted of the phrase ‘it is what it is’. This mantra was repeated to such an extent that complacency set in and the company nearly failed. Competitive advantages were lost, future product development lagged, and customers began to question what the company focus truly was. […]
As any corporate manager can attest, growing a business is a complex and challenging process. The average company fails 75% of the time in launching new initiatives; however, organizations that have discovered a repeatable formula have much higher success rates while some even drive their success rates up to 80% or above (Zook & Allen, […]
Diversification gone bad! When seeking growth, companies sometimes marry themselves with a similar organization of complementary strengths. A synergistic relationship with a final outcome greater than the sum of its parts is the ultimate goal. There are, however, cases in which perceived synergies simply did not materialize or excessive excitement proved disastrous for the merged […]