Trust, fights, and child care. When I’m advising start-up teams nowadays, I ask a lot of questions around those three areas. Which makes it sounds more like a marriage counselor’s office, rather than a boardroom, right? Quite often, the teams I’m talking with think culture is some woo-woo stuff that doesn’t make any difference in [...]
Tag Archives | Decision making
It was said of Abbot Agatho that for three years he carried a stone in his mouth until he learned to be silent. I was thinking about that story by Thomas Merton during a recent board meeting. The CEO and CFO were marching through their 112-slide presentation. Recent market updates, a technical deconstruction of various [...]
That big-ass problem that’s been keeping you up from 2-4:00 am? It hasn’t been solved for a while right? Perhaps it’s been a month, a year, or seemingly forever … Have you really thought about it? (And no, those adult witching hours of 2:00 am to 4:00 don’t count; they just torment.) It is easy [...]
Okay, I admit it. I give a shit about people. And so do you. Sometimes you think you really only care about outcomes like stock prices and liquidity moves, and exit strategies and all that. But you also know that if you engage people early, you’ll get that elusive thing of “buy-in” in such [...]
When you go slow, it could be you’re being thoughtful or considered, but more often than not, you are waiting for some one else to make a decision. In the case of Toyota’s recent and public failure, it took years for this issue to come to bear and get decided. The company knew the problem [...]
I’ve watched strategy being developed within companies like Adobe, Apple, Autodesk, and Nokia. I’ve seen strategy created by individuals. I’ve seen the big suits of Bain and McKinsey at work. I’ve seen it done well, and occasionally I’ve seen it done poorly. Having read more than 100 books that define the best thinking on strategy, I’ve noticed that following the existing methods often doesn’t yield success.
It’s not just the methodology. Here are five reasons strategy fails in businesses:
Strategy has 5 Structural Elements – power distribution, decision-making, idea generation, ideas, process and people. Miss tuning one and you’ll fail. Add items that don’t blend and you’ll fail. Decision-Making The way decisions are made in organizations determines how ideas are generated, and which ideas get considered. The way decisions are made also influences how [...]
Before a company can be ready for growth, it must take stock of the current business situation–and make those decisions that will prompt sales expansion in the future. Making the decisions for what to cut, what to keep and what needs further investment is a key part of strategy development. This approach can be applied to your product lines, market segments, and resource allocation.