Nice article.
I just want to add that with regard to definitions of the term strategy, , one could do worse than follow Jack Welch:
"The evolution of a central plan through a continually changing set of circumstances"
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
#22Nice article. I just want to add that with regard to definitions of the term strategy, , one could do worse than follow Jack Welch: "The evolution of a central plan through a continually changing set of circumstances"
thanks, glad you enjoyed. spot on quote: Jack certainly knew what he was talking about.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#23Highly 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.
True. They did the same in other technical subjects(UberPool and travelling salesman), so this is probably a repeating theme for them. And in the same episode, they didn't even do a survey of similar startups solving the same problem(which carries big implications on market structure), so it's not just a matter of technical subjects.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#24Re: Strategy: How to Develop, Structure and Shape a Winning System
#25Earlier quoted context omitted.
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.
True. They did the same in other technical subjects(UberPool and travelling salesman), so this is probably a repeating theme for them. And in the same episode, they didn't even do a survey of similar startups solving the same problem(which carries big implications on market structure), so it's not just a matter of technical subjects.
What startups would be worthy of inclusion in that discussion? I'm not familiar with any that'd have any implications on market structure.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#26Interesting article.
The money quote is the part about insight:
The best strategies are built on top of great insights. Generally, I'd consider a strategic insight to be an understanding of “the true nature of something” (a customer need, market dynamic, or future trend) and/or its relationship to other important environmental factors. There's also a forecasting component to insights. Strategic insights commonly identify opportunity gaps in time — such as the difference between the current state of something and its anticipated future state.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#27Earlier quoted context omitted.
True. They did the same in other technical subjects(UberPool and travelling salesman), so this is probably a repeating theme for them. And in the same episode, they didn't even do a survey of similar startups solving the same problem(which carries big implications on market structure), so it's not just a matter of technical subjects.
What startups would be worthy of inclusion in that discussion? I'm not familiar with any that'd have any implications on market structure.
via((@ridewithvia) manage to do true ride sharing very well. they fill 8 seater vans. they don't use freelancers, but employees, and they license their software(and practically their model) to cities and other organizations.
Market structure: i can see workplaces(or maybe big events) licensing via, keeping control of the user, and offering free ride services from home/work to the cheapest transportation bidder, for example. Thus workplaces will keep all the "network effect" and market power.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#28Sort 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,…
The belief that corporate strategy somehow exists separately or independently from marketing/sales/go-to-market strategy is not a good baseline assumption to operate from.
Re: Strategy: How to Develop, Structure and Shape a Winning System
#29Interesting article. The money quote is the part about insight: The best strategies are built on top of great insights. Generally, I'd consider a strategic insight to be an understanding of “the true nature of something” (a customer need, market dynamic, or future trend) and/or its relationship to other important environmental factors. There's also a forecasting component to insights. Strategic insights commonly iden…
thanks sah2ed
Re: Strategy: How to Develop, Structure and Shape a Winning System
#30okay I have a system and structure..why am I not as successful as Henry Ford or Russell Simmons or Bruce D. Henderson. Luck plays a huge role, imho. The survivorship bias is huge. It's easy to review the winners and then work backwards to derive a 'theory', after the fact, as for why they were successful...it's like an interpolation polynomial.
> okay I have a system and structure..why am I not as successful as Henry Ford or Russell Simmons or Bruce D. Henderson.
Because your system and structure is not good as theirs were. It is not luck, it is competence. Not survivorship bias, but you overestimating yourself.