A SWOT analysis – Strengths, Weaknesses, Opportunities and Threats – is a critical element of a strategic plan, if done correctly. Far from being a “silly exercise” (and I’ll admit in the early days of my career I sometimes felt that it was…) the SWOT is an important input that leads to the development of strategies. It can be a determinant of whether or not you will be able to successfully achieve your goals and objectives. But, it has to be done correctly to deliver that value. Continue reading “What’s in a SWOT? Exploring an Important Input to the Strategic Planning Process”
Tag: Strategic Planning
5 Competitive Forces That Should Be Shaping Your Strategy
Every MBA student or undergraduate in an introductory business strategy course has encountered Porter’s Five Forces. The concept, outlined by Harvard economist and professor Michael E. Porter in 1979, has been a foundation of business strategy in both academia and the business world for decades.
Professor Porter revisited the topic in a recent article in Harvard Business Review, appropriately titled “The Five Competitive Forces that Shape Strategy.”
For those unfamiliar with the five forces, they are: Continue reading “5 Competitive Forces That Should Be Shaping Your Strategy”
Why Your Strategy May Not Be Working: It May Be Just a Plan
I’m a strong proponent of the value of strategic planning but I’m also glad to acknowledge that the vast majority of strategic plans rarely drive real action or measurable results. The reasons why are numerous, but a recent article I read in Harvard Business Review made a great point about strategy.
In The Big Lie of Strategic Planning, Roger L. Martin, makes the point that, inevitably, whenever the word “strategy” is used, it’s often in conjunction with the word “plan” — those two words then become, somehow, inevitably–and inaccurately–intertwined. Continue reading “Why Your Strategy May Not Be Working: It May Be Just a Plan”
Breaking Through the B.S. (Brainstorming) – Some Tips for Better Results
Brainstorming is one of those activities that, on the surface, seems pretty simple. In reality, though, effectively using this technique can be challenging, Why? Because we all have a tendency to want to discuss/debate and comment on the brainstorming comments of others — and even our own!The key for an effective brainstorming session is to ensure that a wide range of “top of mind” inputs can be gathered — not to dissect and discuss each point that comes up.
We work with organizations on strategic planning activities regularly. One of the keys to a successful planning effort is ensuring that all inputs are gathered and that good ideas/inputs are not “shot down” or dismissed as part of the brainstorming process.
A couple of things that we have done to help ensure that the brainstorming process works as it should: Continue reading “Breaking Through the B.S. (Brainstorming) – Some Tips for Better Results”
Mission Statements: Who Needs Them?
I will admit, that in years past I was a mission statement basher. I considered mission statements to be exercises in futility and a waste of time. I’ve come to believe differently, with one big caveat: Continue reading “Mission Statements: Who Needs Them?”
New LinkedIn Product Pages – Go or No Go?
LinkedIn recently announced the introduction of product pages—the ability for brands to create pages to highlight specific products. The big question for brands is: “worth it,or a waste of time”? Call me crazy, but I’m going with the latter. In fact, as I work with and monitor my own accounts as well as client accounts I’m very cognizant of the potential to dilute brand messages by using too many channels. Continue reading “New LinkedIn Product Pages – Go or No Go?”
That “Silly” SWOT and Why You Should Spend Time to Do it Right
I used to consider SWOT analyses to be “silly exercises,” but after using them on a number of occasions during strategic planning processes with clients and, after conducting research for my book The Complete Idiot’s Guide to Strategic Planning, I’ve come to believe that (if done effectively) they can help drive better strategy development.
If done correctly, SWOT analyses should: Continue reading “That “Silly” SWOT and Why You Should Spend Time to Do it Right”
The Thing About Strategy – Why You Will Never “Get It Right”
Both the current situation in Syria and the start of my classes for this semester have me thinking about strategy. In fact, my pondering about the news reports I’ve been hearing regarding our strategy (or lack thereof) for addressing the situation in Syria helped me to frame what I believe are some important point for students in my PR Campaigns class, as well as for some clients I’m currently working with on strategic planning projects. Continue reading “The Thing About Strategy – Why You Will Never “Get It Right””
#1 Marketing Tip
- What does it take to be an effective healthcare marketer?
- What does it take to be an effective B2B marketer?
- What does it take to be an effective retail marketers?
Regardless of the audience asking, or the way the question is posed, my #1 recommendation is always a two-part recommendation and it’s one that I convey to clients and students communicating in both internal and external settings. Continue reading “#1 Marketing Tip”
What I’d Like To Do Better in 2013: New Year’s Resolutions
I love a new year. Although I realize that, technically, every day is the beginning of a new year, there’s something about the New Year that makes me both reflective and optimistic about what lies ahead. As a pretty goal-oriented person, I enjoy the process of looking back, learning, and looking forward. It’s the basis of strategic planning, after all, a personal passion of mine. Each year I spend time to commit my goals to writing and I track my progress throughout the year. I don’t achieve every goal, but I do belief that I’m more effective than I would be if I didn’t take the time to plan. I had some great successes in 2012 and a lot of very rewarding experiences–both personally and professionally. But there’s always room for improvement and, regardless of what I achieve, I always want to achieve more. So, in 2013, there are a number of things I’d like to do better: Continue reading “What I’d Like To Do Better in 2013: New Year’s Resolutions”