Recall my definition of a GC is: a key valuable resource or a bundle of valuable resources and a unique capabilities set aimed at a particular opportunity or related set of opportunities in the marketplace. This approach is brand new so I have only initial experience in conducting GC audits. However, I think this audit framework works but I invite your suggestions from your experience on things I w
A growth constellation is a bundle of valuable resources and unique capability-sets aimed at a particular opportunity or related set of opportunities in the marketplace. Configured well, this allows the incumbent firm to enjoy some form of competitive advantage for a while over rivals.
This article will present a new phrase for strategy: “growth constellations” and make some important distinctions, I think, for the field of competitive strategy. I think the phrase growth constellation could be at least a complimentary, if not better way, to describe your firm’s competitive strategy in today’s world of quick change, transient competitive advantage and the need for dynamic capabilities.
Here is a quick question for you: how fast does your business to do anything? But as readers of this series of articles know, this series is about what causes a for-profit firm’s value to increase. So while we will focus on how long it takes your business to complete new strategic initiatives that have been derived from strategic planning, competitive intelligence, innovation or from other sources, this discussion will cover the speed in general of your business as well.
The management consulting industry in the United States brought in $228 billion in fees in 2017 according to IBIS World. Yes, that is $billion, not $million. The largest percentage of this figure, 38%, is from corporate strategy consulting. The next largest percentage of the $228 billion is for sales and marketing consulting at 19.5%. In 2017 there were about 707,000 consulting firms in the United States. There are twenty or thirty very large consulting firms like the Big 4 accounting firms, McKinsey, Booz Allen, etc. but most of that 707,000 are very small consulting firms with less than ten people or even sole proprietor shops with just one person.
I wrote this article in two parts five years ago. Then innovation was the hot topic among US publicly traded firms. I have edited the text with some new but conflicting data. But I also end with a question: is innovation still the (or a) hot topic or in the ensuing five years has innovation become like the quality revolution thirty-five years ago where quality became a common denominator just to stay in the competitive ball game? I think it has although some consultants are still trying to sell their version of innovation as the new miracle. In the ensuing five years, there have also been some conflicting newer studies.