This is a follow up on an article to I wrote earlier this year titled Time, Speed and the Process Revolution: Why Are These Disciplines Disappearing? If my observations are correct…that process disciplines from a management viewpoint are disappearing, I would like to try one more time to raise a clarion call that this is a problem.
In Response to the Business Roundtable New Statement: A Practical Model for Growing the Valuation of For-profit Firms – Part 1
This article was in development before the week of August 19, 2019, when the Business Roundtable (BRT) announced their new statement of purpose of the corporation. Thus I think this article and others like it are even more important. The new statement by the BRT, in brief, is that shareholders are no longer the sole recipients of financial value created by publicly traded firms. Other stakeholders will be participating in that value as well.
We’ve seen recent renewed interest in how to think strategically. The offerings are good for the most part in my view. I think a focus on how ‘winning wealth creators’ think about and assess new opportunities before their investment could serve as a useful addition to any strategic plan.
A Crow’s Nest View Model for Growing the Valuation of Firms and an Approach for Sharing That Value With Your People
As I have written in this series, I think the most useful superordinate goal of the for-profit firm is growing its valuation. Superordinate is defined as “a thing that represents a superior order or category within a system of classification”.
Competitive Strategy As a Framework for Making Trade-off Decisions to Get From Now to the Future: A Discussion and Disguised Company Example
There are at least hundreds of definitions of competitive strategy for for-profit firms. In my view, the useful differences in definitions are based on changing contexts for businesses, not from someone trying to re-invent sliced bread. My favorite definition of competitive strategy from the context or lens of making strategic decisions is below. This definition has been suggested by several strategists including Donald Sull of MIT and is:
In 2019 time and speed are still important operational and strategic weapons for firms. Just look at Amazon moving to next day and now same day delivery. But the very rich disciplines of process innovation and process management seem to be disappearing in many or even most firms. This article, part of my series on what causes the valuation of the for-profit firm to increase, will in part be a community call to confirm your experience that indeed these rich disciplines are disappearing. If so, why? Is this a problem? I believe it is a problem if my recent observations are correct.
Can You Diagnose the Strategic Health of Your Business In Twenty Minutes? I Think You Can And Here Is How You Can Do It Via a Free Survey
There is an accompanying slightly more in depth article just published in LinkedIn titled “Diagnosing the Strategic Health of Your Firm At Lightning Speed: How You Can Do It”, but if you would like to go to the survey directly, here is the link https://www.surveymonkey.com/r/GKF9889.
A few weeks ago I was at a dinner party and mentioned to a CEO of a large privately held for-profit firm that I could diagnose the strategic health of his firm by using two brief surveys and get Findings and Implications to him within three weeks. He did not believe me.
What Is An “Established” Firm In Today’s World: Implications for The Health and Longevity of The Firm
I used the word “Established” in 2004 in the title of my first (and only) book The New Science of Strategy Execution: How The Established Firm Becomes a Fast, Sleek Wealth Creator. I had an idea then about what Established meant but have refined my thinking on this recently. Some writers have referred to them as “ongoing” firms, but we need a more useful view of what “established” means in this context.
In 2019 I think more mid-sized firms are shunning competitive strategy and strategic planning than in 1970, around the time of the Arab Oil Embargo when competitive strategy and strategic planning were king.
Being Or Becoming Polymorphous Kaleidoscopic: Recent Criticisms of the Chief Strategy Officer Position
Polymorphous Kaleidoscopic in this context means a “many-sided person who is made up of a complex mix of elements”. Do we really need such a person in business? I think so. Recently there have been more than a few articles criticizing the relatively new position and role of the Chief Strategy Officer (CSO). This article will explore this reality and what in my view is required for this role to add value to the management team and the organization.