A lot of it is being at the right place at the right time.
Let's take a successful product: Pacman. Launch it in 2017 instead of 1980, the result would not be as good.
Strategy: How to Develop, Structure and Shape a Winning System
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Re: Strategy: How to Develop, Structure and Shape a Winning System
#12A lot of it is being at the right place at the right time. Let's take a successful product: Pacman. Launch it in 2017 instead of 1980, the result would not be as good.
You mean, an arcade? Like Flappy Bird?
Re: Strategy: How to Develop, Structure and Shape a Winning System
#13This is a nice and ambitious post. A few thoughts: 1. There are great insights in Clayton Christensen's The Innovator's Dilemma. The focus of that book is on Disruptive Innovation, where a new upstart with some new tech/angle crushes your business. A lot of your notes/principles here are captured in that book concisely. 2. One thing that is useful for employees to understand is how their company creates and executes…
1. Good call-out. Agree and would strongly encourage anyone in this space to read Innovator's Dilemma. 2. Could not agree more with this (and have seen a lot of first-hand pain here). One of the biggest generators of employee anxiety is simple uncertainty, and uncertainty is a product of inadequate visibility into and/or understanding of how and why things are happening. That's again one of the reasons why I feel eve…
Link to resources about V2MOM and other frameworks?
Re: Strategy: How to Develop, Structure and Shape a Winning System
#14Earlier quoted context omitted.
1. Good call-out. Agree and would strongly encourage anyone in this space to read Innovator's Dilemma. 2. Could not agree more with this (and have seen a lot of first-hand pain here). One of the biggest generators of employee anxiety is simple uncertainty, and uncertainty is a product of inadequate visibility into and/or understanding of how and why things are happening. That's again one of the reasons why I feel eve…
Link to resources about V2MOM and other frameworks?
In there too, but tl;dr:
https://www.salesforce.com/blog/2013/04/how-to-create-alignm...
Re: Strategy: How to Develop, Structure and Shape a Winning System
#15[deleted]
Re: Strategy: How to Develop, Structure and Shape a Winning System
#16A really great overview of the topic. One thought on the building blocks summary - I would add an Ideation phase after the Insights phase or somehow mention the importance of ideas. The current outline suggests strategy creation is a highly analytical process, when, in fact, it is both creative and analytical at the same time, and requires both sets of skills. As a side note, you might want to check out the work of V…
thanks Peter, appreciate the feedback. I kept ideation as part of the "Insights" phase but you're correct, it could be split into (1) research and (2) ideation. I'll check out Victor's work. best, Chris
Re: Strategy: How to Develop, Structure and Shape a Winning System
#17Wonderful read. Thanks. Few thoughts, In my opinion, leaders communicate the mission, vision and values, but never clearly communicate the strategy. The strategy for each department and team and it’s sub-teams with-in an org will be different. This has to be communicated at all levels to have the entire workforce work towards the single mission. Many Startups are successful due to this.
thanks. could agree more. communicating strategy is incredibly important and a gap that seems to happen often in companies. there's a big difference at the employee level between (a) a strategy that exists [somewhere at the executive/management level] and (b) a strategy that exists and is transparent, well-communicated and well-understood.
This is why I think a hierarchical, cascading V2MOM or OKR approach is a helpful communication vehicle to transfer strategy top-down and build consensus and participation in the strategy process bottom-up.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#18Earlier quoted context omitted.
Paul, thanks for the comment and I agree with you: luck and timing are two external factors that have significant influence on the outcome, and strategists have little if any control over either. The only "counsel" I can provide is the idea of being as iterative as possible, and try to adapt / respond to the result (test => observe => refine). If you had $10 to bet on the same probability outcomes, rather than bettin…
And in a similar vein, you could use the Kelly criterion for how to optimally allocate your time/effort/capital.
For those who, like me, didn't know what the Kelly criterion was: In probability theory and intertemporal portfolio choice, the Kelly criterion is a formula used to determine the optimal size of a series of bets.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#19Sort of conflates marketing strategy and corporate strategy, though there is overlap. The flow charts are vague enough to apply to any type of problem.
Marketing strategy covers anything related to sales/revenue, such as customers, products, channels or communications.
Corporate strategy covers long term business policies of a firm, and is best understood through an economics lens. Things like make vs. buy decisions, competitive advantage, market and industry analysis.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#20Highly recommend checking out the podcast Exponent and the blog Stratechery, both by Ben Thompson. He is a great analyst and both Exponent and Stratechery focus on the intersection of tech and business strategy.
I listened for a couple episodes, but when they started talking about machine learning it became obvious how little they understood it. With how willing they were to confidently opine on how it would change industries based on an incorrect understanding, I lost confidence in the other things they talked about.