8 Tough Questions to Ask About Your Company’s Strategy
Companies often fail to address the tough questions about strategy and execution: Are we really clear, as a leadership team, about how we choose to create value in the marketplace? Can we articulate the few things the organization needs to do better than anyone else in order to deliver on that value proposition? Are we investing in those areas, and do they fit with most of the products and services we sell?
^ADJ: People that know me, know that I am not one to shy away from the tough questions or the elephant in the room. It has been interesting last 6 weeks as companies adapt, "pivot" and manage through this crisis.
A few comments on living the strategy:
"are we investing in the capabilities" - show me how the budget aligns with the strategy, both in a monetary sense and allocation of time from senior people. Which then begs the question what are they going to give up, how are they going to grow middle management capability?
"does our org structure support and leverage" - let's talk about how easy it is to do business, what are the processes that make a difference, how solid are they - how do we even know?
"are our decisions coherent" - are we building a system that re-enforces and builds a moat, or have we got objectives that play against each other.
Are we taking the opportunity to reimagine how the business could look, and not be shackled to the past in terms of norms, standards and previous business models - in my view those that are suceeding are taking the best from the past, and combining it into new ways of thinking and operating.
From surviving to thriving: Business after coronavirus
For many, the toughest leadership test is now looming: how to bring a business back in an environment where a vaccine has yet to be found and economies are still reeling.
The More Senior Your Job Title, the More You Need to Keep a Journal
For leaders assuming the CEO title for the first time, taking time to learn and think translates into early successes. But the problem is there’s little time to do either. Information comes at them more quickly, more people than ever before demand their time, and they’re told that the myriad decisions piled in front of them are all important.
A Crisis Playbook for Family Businesses
Almost every family business that we have spoken to in recent weeks is being disrupted by the COVID-19 pandemic. The preliminary results of a survey we launched indicate that nearly 90% have seen some negative impact on their business. Some are fighting to stay alive or deal with a major decline in revenue. Others are dealing with greater demand and stressed supply chains. Most are feeling isolated as they make decisions that will shape their future.
Why Startups that Survive are “Learning Organizations”
Speed is your one advantage as a startup. During a market downturn, this is even more true. While your competitors can become slow or fearful when markets drop, downturns open a clear pathway for you to gain ground and come out stronger. But this requires upping your game — and one of the critical ways to do so is to become a faster learner.
Our weird behavior during the pandemic is messing with AI models
But they have also affected artificial intelligence, causing hiccups for the algorithms that run behind the scenes in inventory management, fraud detection, marketing, and more. Machine-learning models trained on normal human behavior are now finding that normal has changed, and some are no longer working as they should.