In our last blog NFL Winning Formula – Rhythm we discussed the value or routine in building a successful business model and how this mirrors successful sports team formulas.
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David Sokol, Warren Buffet’s Mr. Fix it, indicated his team meets to work on a five to ten year plan each year. Many companies overlook the need to do long term planning, and in fact long term planning can seem passé as technology and the pace of change render forecasting to be so difficult.
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Topics: Strategic Discipline, strategy, Strategic Planning, top priorities
Verne Harnish’s focus on the first day of the Growth Summit Strategy provided some insightful ideas about strategy. Here’s the one that I thought was most thought provoking. Is your strategy a plastic cup or a fine wine glass? This question asks you to make a gut reaction to your strategy. That’s a good way to say do you feel solid about it or not? If you tapped your glass with a spoon would it get knocked over or would it hold up and ring true?
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Topics: strategy, Brand Promise, X Factor, One Phrase Strategy
Jim Collins in Built to Last and Good to Great discussed the importance of creating your BHAG. In the real world my guess is that very few businesses discover their BHAG either because they've never heard of it, or don't understand the value it can have in growing their business.
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Topics: strategy, BHAG, strategy decisions, Strategy Decision
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