There's only 3 major strategies - Pick One!

One of the challenges of being a CEO is that you must pick and focus the strategy for your firm.  There are 3 major strategies....as much as you may want to claim all three....you can only deliver on one, to be effective.

A tool I like to use to engage in the conversation about strategy comes from a book by Michael Treacy, The Discipline of Market Leaders.  The main premise is that to be great at something.....you must pick one of these three.  The other two,  just be OK....but you can not focus on all three to differentiate your firm.

The three strategies include:

   Product or Service Innovator - someone who likes to be first in the field and have a superior benefit.  Think Apple or Nike or Microsoft as examples of this.  It is expensive to focus on innovation and most of the time....your product or service will be premium priced.

  Operational Excellence -  someone who likes to focus on being the most efficient and reliable in delivering the product or service.  While not always the lowest price....this strategy is a focus on everyday value, at a reasonable cost.  Think Wal-Mart or Southwest Airlines or Dell Computer.  You don't offer a lot of added value but the product or service applies to most people at a reasonable cost.

 Customer Intimate  -  someone who likes to customize the offering and deliver the product or service the way your customer wants it.  These are firms who want to keep the customer happy or experience the best relationship in working with you.  Think Nordstrom's or Ritz Carlton.  They will go out of their way to create satisfaction....this also demands a premium price.

To be effective, you can not focus on all three of these.  You will be trying to be all things to all people and will create a confusing message.   So which area do you focus?  Can you differentiate these?

Here is an interview where I recently described this approach.    click here to view


Hope you find it valuable.
   
    Steve Brody

Why Curious People are Destined for the C-Suite

What is one attribute that CEOs will need to succeed in turbulent times?  Some recent surveys show the answer as CURIOSITY and OPEN-MINDEDNESS.

Is this a surprise to you?  A recent article in the Harvard Business Review explains this trend and the importance of the need.  It is less about having all the answers and more about wondering and questioning.  Leading by curiosity can help generate more ideas from all areas of an organization, while helping to raise employee engagement levels.

A Leader's primary occupation must be to discover the future.  How good are you at this?
People that do this seem to have a penchant for bringing a beginner's mind to the areas of problem solving and dealing with challenges.

Maybe it is worth your consideration.  Read more of the article  here   by Warren Berger, Sept 11, 2015 HBR.org  

Hope it helps..... Steve Brody,  Brody & Associates

What only the CEO can do!!

Peter Drucker famously wrote about....what is the work of the CEO?  Do we really understand this role?
He thought actually...we do not.

Most Executives think they are the Coaches & utility infielders who are called in to solve problems as needed.  In reality...the CEO is the Link between the Inside (the Organization) and the Outside (society, economy, technology, markets, customers.)   Inside is the focus on costs.....Outside is where results are found.

He indicated there are 4 fundamental tasks of the CEO:

  1.  Defining the meaningful outside

  2.  Answering over & over again....what business are we really in & what business are we not in?

  3.  Balancing the yield in the present with investment for the future

  4.  Shaping the values & standards of the Organization  

These are simple in context and definition but much harder to actually implement.  In fact, they are critical to implement properly to lead an Organization.

Read more at this   HBR article

Hope you enjoy......   Steve Brody

People remember what you say when you paint a picture

How well do you do this?  Do you use visual words?

 Communication is really hard to do well. Given the  statistic that 70% of us are primarily visual learners, what are you doing to visually communicate with your people in order to help them to understand and to be inspired?  Do you care enough to do that?  They want you to care enough to inspire them

Read more from this  article 

Hope you enjoy.
   
      Steve Brody

4 Reasons Managers should spend more time on Coaching

4 Reasons to Coach.....if you are not coaching your team.....you may be neglecting an effective tool to develop your talent.


The reasons are:

  - they see Coaching as an essential tool to accomplish business goals

  -  they enjoy helping people develop

  - they are curious

  -  they enjoy establishing connections

Read more from this HBR   article


Hope you enjoy..... Steve Brody

A Trick to Beat Procrastination

Sometimes how we choose to define a problem can make all the difference in solving it. One writer thinks this applies to the challenge of conquering procrastination.  Is this a problem with any of your staff members?  Or yourself?

Read more about it in   this short article 

Hope you find it valuable.

    Steve Brody

The Yes/No question that nails your company culture

Here’s an easy way to learn whether an employer you’re considering joining really values the people who work there, or whether they don’t.  Tells you a lot about how they treat people or think about what is important.

Where would your company fall on this question?

Read more at:   Forbes Mar 2015


   Hope you find it valuable

       Steve Brody