Category Archives: Strategic Planning

The Big 3 V’s of Strategy

Planning Strategy, Strategic Planning, Strategy

Velocity, Volume and Variety.

Its the latest set of words that describe the environment we are living in and the business environment that we are operating in.

Yes, the terms come from the “Big Data” perspective of information management. But they are useful terms for describing what we are experiencing. Velocity, obviously, has to do with speed and the rate of change. Volume is about the quantum of information that we are dealing with, the ever increasing amount of data. And variety is about the spread, is about the different types of information.

And how do you deal with it? What strategies do you set for handling the volume, velocity and variety?. Well, there are three:

  1. is to ignore it and hope it goes away. We know that in the long run that that won’t work
  2. is to build bigger machines to handle it. To, if you will, meet the onrushing force with overwhelming power
  3. is to react like that whitewater kayaker. To read the flow and make your own path through it

What is your approach?
For more, visit Dellium Advisory, follow on Twitter, connect using LinkedIn, or review my IT-centric blog.

Strategic Planning: Who are your customers?

Strategic Planning, Strategy

When you study strategy, strategic management and other aspects of forward view of the organization you come across a lot of models and frameworks.

You have Porter’s “Five Forces”, the Boston Consulting Group’s “Growth-Share matrix, the Balanced Scorecard, the innovation funnel, the Harman Fan, and more besides. You no doubt have favourites, have perhaps massaged some of them to fit your circumstance, even seeing one or two as meaningless.

Well, Derek Abell’s perspectives on customers stands out to me.

Derek taught and performed research at Harvard Business School, and the same in Europe. From 2003 he was establishing business schools throughout Eastern Europe and Russia as well as consulting to many international organisations.

His theory, which has been established in practice, is basically when looking at your customers, there are three components:

  • Customer needs
  • Customer groups
  • Distinct competencies that you have in meeting these needs

So, who are your customers, what are their needs & what do you bring to the table?

For more, visit Dellium Advisory, follow on Twitter, connect using LinkedIn, or review my IT-centric blog.

Strategic Planning: What is your vision?

Strategic Planning, Strategy, Vision

The vision statement indicates the characteristics of your organisation in the future and can help answer many questions about what it does.

Now, it is important that a vision statement be able to stand the test of time and provide guidance to decision makers as they determine the direction of the organisation into the future. It’s vital that your vision statement is a reflection of your intent.

Most vision statements include some aspects of three important elements:

  • a core ideology
  • an envisioned future
  • recognition of service to stakeholders

The core ideology of the vision statement contains a statement about the firm’s values and “reason for being.” The envisioned future is a statement that describes what the organisation will be like if it achieves its most important goals. What does success look like. Whilst the final part of the vision statement is the recognition of how the organisation serves its stakeholders, including owners/creditors, employees and customers, as well as the community and society.

 

 
For more, visit Dellium Advisory, follow on Twitter, connect using LinkedIn, or review my IT-centric blog.