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 […]
Former GE CEO, Jack Welch (2001, p.390) commented that “business success is less a function of grandiose predictions than it is a result of being able to respond rapidly to real changes as they occur.” In order to facilitate this, strategic innovation must be more than dynamic, it must be anticipatory. However, in order for […]
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. […]