When To Change Strategy
The Strategic Executive Show
The ability to modify strategy at the right time can literally save or destroy a business. This week, we hear from our special dead guest, Rod Serling, and his narration of The Strategy Light Zone. We talk about a checklist of five moments when it's critical to reevaluate your strategy, how to look for evolution and customer needs, the distinction between strategy and tactics, and what we can learn from Chipotle on increasing the perceived value of a product or brand. You’ll also learn about the five steps to a solid strategy process. What You’ll Hear In this Episode: ...
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Decide, Delegate and Dominate
The Strategic Executive Show
This episode, it’s all about decision-making and delegation, with an appearance from the dastardly Decision Demon and special dead guest Napoleon Bonaparte, one of the greatest strategic minds in history on how he makes decisions. You’ll learn tips and techniques to clarify decision rights, identify the causes of faulty decision-making, and maximize your time through better delegation. What You’ll Hear In this Episode: Resource allocation requires us to make trade-offs. The nine causes of faulty decision making - which one of these does your team fall into most...
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Innovation: Creating New Value
The Strategic Executive Show
When is the last time that you and your team truly created new value for your customers? Today, I share three ways that you can take the concept of innovation and apply an innovative thinking mindset to your daily activities. I welcome dead guest, Leonardo da Vinci, to talk about the importance of observation while innovating, and using a technique called domain jumping to turbo charge your business and escape the mental ruts. You will also learn how to apply the Value Mining Matrix to your business to create new value by exploring customers and their needs in unique ways. What...
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A Strategic Approach To Planning
The Strategic Executive Show
A survey of two thousand executives by McKinsey and Company showed that only 19% of companies have a definite and distinct process for developing strategy. That means for the majority of organizations, strategy development is a random and crisis driven event…if it even happens at all. Today, I’m excited to share with you a proven process for developing strategy. First, I welcome one of the greatest strategic minds in history, Carl von Clausewitz, to share his planning approach, and you’ll also learn how to distill your entire strategic plan into 1-2 pages. Then, I welcome the *almost*...
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How To Think, Plan, & Act Strategically…Every Day.
The Strategic Executive Show
It’s a jam-packed episode as we dive into a proven framework to create a strategic team, and help your team set clear and compelling strategic direction. First, I discuss ways to maximize your strategic leadership potential by reviewing the 3A Strategic Thinking framework. Here you’ll learn to apply several new strategic tools to your business to create more insights, make strategic trade-offs and better align your priorities with your time. I’ll then chat with our dead guest, Dr. Igor Ansoff, considered by many to be the father of strategic management. Finally, I share Dr....
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What is Strategy?
The Strategic Executive Show
Welcome to the Strategic Executive Show. I’m your host Rich Horwath, founder of The Strategic Thinking Institute. In this series, I’ll share tools, tips and techniques to enhance your strategic thinking and planning capabilities to set direction, create advantage and achieve your goals. This week, it’s all about digging into what strategy is at its core, and how to understand and reconnect with its true purpose and meaning. First, I’ll chat with a special guest–Chinese General, philosopher, and author of, The Art of War, Sun Tzu–and by the way, he’s dead–to...
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Trailer
The Strategic Executive Show
Are you strategic? New York Times bestselling author on strategy Rich Horwath shares tools, tips, and techniques to enhance your strategic thinking and planning skills to set direction, create advantage, and achieve your goals. Sometimes he has live guests, and sometimes he has dead guests…tune in to find out who he’s talking about strategy with this episode.
info_outlineThe ability to modify strategy at the right time can literally save or destroy a business. This week, we hear from our special dead guest, Rod Serling, and his narration of The Strategy Light Zone. We talk about a checklist of five moments when it's critical to reevaluate your strategy, how to look for evolution and customer needs, the distinction between strategy and tactics, and what we can learn from Chipotle on increasing the perceived value of a product or brand. You’ll also learn about the five steps to a solid strategy process.
What You’ll Hear In this Episode:
- Research published in the Harvard Business Review showed that 43% of managers couldn't state their own strategy and 67% of managers believe their organization is bad at developing strategy. Both of these dismal numbers may be in part due to the fact that only 19% of managers say their companies have a distinct process for developing strategy.
- A checklist of five moments when it's critical to reevaluate your strategy.
- Goals are what you are trying to achieve and strategy is how you're going to get there.
- As you accomplish goals and new goals are established, changes in resource allocation are often required to meet them.
- How to look for evolution and customer needs.
- The distinction between strategy and tactics was articulated even as far back as 2500 years ago by Chinese general and philosopher Sun Tzu.
- Expertise in any domain is the result of deliberate practice, not natural born talent.
- How the contextual radar tool helps us determine when to change strategy.
Quotes/Tweetables:
“Goals are what you are trying to achieve and strategy is how you're going to get there.”
“ The end game of business strategy is to serve customers' needs in a more profitable way than the competition.”
“When determining whether or not to change strategy, it falls under your own roof.”
Connect with Us!
Rich Horwath’s YouTube Channel
Elevate: The Three Disciplines of Advanced Strategic Thinking by Rich Horwath
Strategy for You: Building a Bridge to the Life You Want
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