Player FM 앱으로 오프라인으로 전환하세요!
Hard Work Can’t Outpace Bad Strategy: Q&A with Marty and Em
Manage episode 425621605 series 2942304
Episode #304 // There are many things that can go wrong between when we utter the words, “Let’s develop our corporate strategy” and the words, “How did we perform last year?”
I get a lot of questions about the strategy process, and one thing has become really obvious to me — very few people realize how many moving parts there are… not just in developing a sound strategy, but also in setting up the environment for successful execution of that strategy.
One of the biggest problems with strategy is that we tend to see it as a process — an annual ritual to be conducted, rather than a culture and mindset that requires senior leadership focus, 24 x 7 x 365.
Without this continuing focus, leadership teams can easily fall into the more obvious traps for young players… like investing to grow a product that doesn’t earn sufficient returns to cover its cost of capital.
But there are many more potential problems that conspire to derail your strategy well after the board has signed off on it. Problems like:
- Not using a zero base to develop your work program;
- Not truly understanding the drivers that deliver the greatest value; and
- Allowing people to simply continue the activity that they’re most comfortable with.
In this episode, I explain why — as important as it is to understand — the theory of strategy is necessary, but not sufficient. As a bonus, I also reveal a new concept that I haven’t spoken about before: the productivity v efficiency multiplier!
————————
Be one of the first to take our brand new Strategy Beyond the Theory program, coming in November 2024!
Join the waitlist here to be part of the very first cohort of this intimate and personalised program.
————————
You can connect with me at:
Website: https://www.yourceomentor.com
Facebook: https://www.facebook.com/yourceomentor
Instagram: https://www.instagram.com/yourceomentor
Linkedin: https://www.linkedin.com/in/martin-moore-075b001/
Youtube: https://www.youtube.com/@YourCEOMentor
————————
Our mission here at Your CEO Mentor is to improve the quality of leaders, globally.
Hosted on Acast. See acast.com/privacy for more information.
379 에피소드
Manage episode 425621605 series 2942304
Episode #304 // There are many things that can go wrong between when we utter the words, “Let’s develop our corporate strategy” and the words, “How did we perform last year?”
I get a lot of questions about the strategy process, and one thing has become really obvious to me — very few people realize how many moving parts there are… not just in developing a sound strategy, but also in setting up the environment for successful execution of that strategy.
One of the biggest problems with strategy is that we tend to see it as a process — an annual ritual to be conducted, rather than a culture and mindset that requires senior leadership focus, 24 x 7 x 365.
Without this continuing focus, leadership teams can easily fall into the more obvious traps for young players… like investing to grow a product that doesn’t earn sufficient returns to cover its cost of capital.
But there are many more potential problems that conspire to derail your strategy well after the board has signed off on it. Problems like:
- Not using a zero base to develop your work program;
- Not truly understanding the drivers that deliver the greatest value; and
- Allowing people to simply continue the activity that they’re most comfortable with.
In this episode, I explain why — as important as it is to understand — the theory of strategy is necessary, but not sufficient. As a bonus, I also reveal a new concept that I haven’t spoken about before: the productivity v efficiency multiplier!
————————
Be one of the first to take our brand new Strategy Beyond the Theory program, coming in November 2024!
Join the waitlist here to be part of the very first cohort of this intimate and personalised program.
————————
You can connect with me at:
Website: https://www.yourceomentor.com
Facebook: https://www.facebook.com/yourceomentor
Instagram: https://www.instagram.com/yourceomentor
Linkedin: https://www.linkedin.com/in/martin-moore-075b001/
Youtube: https://www.youtube.com/@YourCEOMentor
————————
Our mission here at Your CEO Mentor is to improve the quality of leaders, globally.
Hosted on Acast. See acast.com/privacy for more information.
379 에피소드
ทุกตอน
×플레이어 FM에 오신것을 환영합니다!
플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.