Category Archives: Strategy

Is SWOT enough?

Strategic Planning, Strategy

SWOT: Strengths, Weaknesses, Opportunities and Threats. A tool used in developing options when it comes to strategic planning.

But is it enough? Does it cover all of the scenarios that you could face in the time ahead? What are you reference points for asking the questions?

For there are limitations when is comes to using the SWOT tool. Are you using it simply to press home a point? In defending an already defined set of goals and objectives?

The original intent of the tool, which was developed by Albert S. Humphrey around 1970 (he was a management consultant for Stanford Research), and further strengthened by Dr Heinz Weihrich 10 years later (a management consultant associated with the University of SanFrancisco), was to diagnose why strategic planning was failing corporations.

And so, its a diagnostic tool. A method for evaluating the internal and external environment for the downside and upside.

And yes, SWOT can be enough. It can illicit important answers.

But, what are you using it for? What are the frames of reference within which you will be asking questions? Of what area are you seeking insights about?

 
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Strategic Planning is Essential for Better Performance

Cognitive Strategy, Cultural Strategy, Design Strategy, Entrepreneurial Strategy, Environmental Strategy, Planning Strategy, Positioning Strategy, Power Strategy, Strategic Planning, Strategy

Over the decades of the 70’s, 80’s and 90’s there were a mixed bag of academic studies regarding the usefulness of strategic planning. Some studies poured cold water on the notion that strategic planning could improve the performance of a firm, others were hearty in their endorsement.

But time and again in recent years, analysis has shown that indeed bringing direction to an organisation through the process of strategic planning has indeed brought benefits.

Aspects improved include:

  • sales
  • profit
  • productivity
  • returns on investments
  • employee engagement
  • even the success ratio of new product development

The long-term implication from each of these studies is that if an organisation (whether for-profit or not-for-profit) thinks about its future and puts some resources into planning its direction (where it is, where it wants to go, and how it will get there) it will not only survive but thrive.

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

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.