StrategyDriven » Strategic Analysis

How to Stress-Test Your Strategy

StrategyDriven — Thu, 10 Mar 2011 11:05:43 +0000

Robert Simons, the Charles M. Williams Professor of Business Administration at the Harvard Business School, explains why management teams must ask themselves tough strategy questions. During this interview, Robert covers:

obstacles business leaders face when executing their business strategy
why companies need to focus on one primary customer
the importance in choosing which among shareholders, customers, or employees are most important to the company’s success
how executives should decide which few metrics to focus on
key approaches to effectively making tough priority selection decisions

Robert Simons on the StrategyDriven Podcast

Last month, we were privileged to talk with Robert about his new book, Seven Strategy Questions, on the StrategyDriven Podcast. Listen as we explore the seven strategy questions that can help an organization’s leaders identify gaps within their strategy and its execution.

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StrategyDriven Podcast Special Edition 57 – An Interview with Robert Simons, author of Seven Strategy Questions

StrategyDriven — Thu, 24 Feb 2011 11:28:10 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Special Edition 57 – An Interview with Robert Simons, author of Seven Strategy Questions explores the seven strategy questions that can help an organization’s leaders identify gaps within their strategy and its execution. By asking and effectively answering these questions, executives and managers gain the insight necessary to better align their organization’s day-to-day operations to the optimal achievement of mission goals; thereby enhancing overall bottom line results. During our discussion, Robert Simons, author of Seven Strategy Questions: A Simple Approach for Better Execution, shares with us his insights regarding:

the benefits of routinely asking the right strategy questions
the key Seven Strategy Questions and what makes them so important
how leaders can formally incorporate the Seven Strategy Questions into their business processes
actions executives should take to develop rising managers so that they instinctively ask the Seven Strategy Questions as a part of their internal thought process and the way they interact with their staffs

Additional Information

In addition to the outstanding insights Robert shares in Seven Strategy Questions and this special edition podcast are the resources accessible from his Harvard Business School Working Knowledge website. Robert’s book, Seven Strategy Questions, can be purchased by clicking here.

Final Request…

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About the Author

Robert Simons, author of Seven Strategy Questions, is the Charles M. Williams Professor of Business Administration at the Harvard Business School. For twenty-five years, he has taught accounting, management control, and strategy implementation courses in the Harvard MBA and Executive Education programs. Robert’s research has been published in the Harvard Business Review and the Strategic Management Journal, among others. To read Robert’s complete biography, click here.

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StrategyDriven Podcast Special Edition 38 – An Interview with Robert Morison, co-author of Analytics at Work

StrategyDriven — Thu, 24 Jun 2010 11:27:47 +0000

Special Edition 38 – An Interview with Robert Morison, co-author of Analytics at Work explores how to leverage analytics to make better business decisions that ultimately lead to superior business results. During our discussion, Robert Morison, co-author of Analytics at Work: Smarter Decisions, Better Results shares with us his insights and illustrative examples regarding:

the tangible benefits leaders realize as a result of incorporating analytics in their decision-making process
balancing the art and science of decision-making and recognizing when the process is out-of-balance
types of questions analytics can help answer
the five stages of analytical maturity
the five key analytics DELTA components: Data, Enterprise, Leadership, Targets, and Analysts

Additional Information

In addition to the invaluable insights Robert shares in Analytics at Work and this special edition podcast are the resources accessible from his website, www.AnalyticsAtWorkBook.com. Robert’s book, Analytics at Work, can be purchased by clicking here.

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About the Author

Robert Morison is co-author of Analytics at Work. For the past twenty years, Robert has led breakthrough research at the intersection of business, technology, and human asset management. He has written or overseen more than 130 research and management reports on topics ranging from business reengineering to electronic business to workforce demographics. Robert is co-author of three Harvard Business Review articles and Workforce Crisis: How to Beat the Coming Shortage of Skills And Talent. To read Robert’s complete biography, click here.

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Strategic Analysis Best Practice 9 – Comparing Organizational Goals to Resource Assignments

StrategyDriven — Tue, 13 Jan 2009 14:13:35 +0000

Want to know what the organization is focused on; what it values? Simply follow the money.

The purpose of every organization is to maximize value creation as defined by its mission goals. To do so, executives and managers must employ the organization’s resources such that they are focused on the activities most directly supporting achievement of the organization’s mission goals. One method of assessing the degree of goal focus is to evaluate the alignment between organizational goals and resource assignment.

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StrategyDriven Podcast Episode 22 – Identify the Hidden Drivers, part 3 of 3

StrategyDriven — Wed, 17 Sep 2008 02:09:40 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve better results. These podcasts elaborate on the best practice and warning flag posts on the StrategyDriven Podcasts website.

Episode 22 – Identify the Hidden Drivers, part 3 of 3 elaborates on Strategic Analysis Best Practice 3 – Identify the Hidden Drivers and Strategic Analysis Best Practice 3 – Identify the Hidden Drivers (Continued). This discussion:

identifies ten questions to explore when seeking to identify both documented and undocumented hidden performance drivers
recaps the key concepts presented in the hidden drivers trilogy

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StrategyDriven Podcast Episode 21 – Identify the Hidden Drivers, part 2 of 3

StrategyDriven — Wed, 10 Sep 2008 02:11:06 +0000

Episode 21 – Identify the Hidden Drivers, part 2 of 3 elaborates on Strategic Analysis Best Practice 3 – Identify the Hidden Drivers and Strategic Analysis Best Practice 3 – Identify the Hidden Drivers (Continued). This discussion explores examples of undocumented hidden drivers and their frequent relationship to an organization’s culture and history as well as the personal ambitions of its employees.

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StrategyDriven Podcast Episode 20 – Identify the Hidden Drivers, part 1 of 3

StrategyDriven — Tue, 26 Aug 2008 18:20:58 +0000

Episode 20 – Identify the Hidden Drivers, part 1 of 3 elaborates on Strategic Analysis Best Practice 3 – Identify the Hidden Drivers and Strategic Analysis Best Practice 3 – Identify the Hidden Drivers (Continued). This discussion:

identifies what hidden performance drivers are
examines the often unintended impact of hidden drivers on an organization
explores examples of documented hidden drivers

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StrategyDriven Podcast Episode 19 – Validate the Extremes

Karen Juliano — Wed, 18 Jun 2008 01:06:07 +0000

Episode 19 – Validate the Extremes elaborates on Strategic Analysis Best Practice 8 – Validate the Extremes. This discussion:

examines why and under what circumstances models generate less than accurate results
provides an example illustrating the kind of model output which could lead decision-makers to take inappropriate action
recommends questions analysts should ask to prevent being misled by erroneous model output

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Strategic Analysis Best Practice 8 – Validate the Extremes

StrategyDriven — Fri, 06 Jun 2008 00:33:44 +0000

Performance studies of today’s intricate, technology-driven organizations and the fast paced business environments in which they operate yield unprecedented amounts of data. Analysts often employ complex algorithms and visual models to synthesize and process this data into meaningful information organization leaders use to formulate their company’s direction.

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StrategyDriven Podcast Episode 18 – Diverse Models

StrategyDriven — Wed, 28 May 2008 01:11:23 +0000

Episode 18 – Diverse Models elaborates on Strategic Analysis Best Practice 7 – Diverse Models. This discussion:

identifies why a diverse set of models should be employed during performance of a strategic analysis
describes the steps used to select the appropriate models for an evaluation
explores the risks of using models and what to do if a situation arises where an appropriate model is not available to support the evaluation

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StrategyDriven Podcast Episode 17 – The Use of Models

StrategyDriven — Wed, 14 May 2008 02:47:47 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Episode 17 – The Use of Models elaborates on Strategic Analysis Best Practice 5 – The Use of Models. This discussion:

elaborates on why models should be used during a strategic analysis
identifies the specific benefits and risks of using models
describes what to do if a situation arises where an appropriate model is not available to support an evaluation

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Strategic Analysis Best Practice 7 – Diverse Models

StrategyDriven — Fri, 09 May 2008 02:00:16 +0000

Solutions addressing today’s multifaceted business challenges and opportunities can be extremely difficult to recognize; the ever increasing pace of change within the business environment further complicating this problem. In order to successfully deal with this challenge, decision-makers need the support of people and tools to help them distill large quantities of data, recognize important business trends, discount temporary fads, and translate their findings into meaningful organizational activities. Because no one analysis perspective will adequately account for all of the important nuances associated with a complex problem, multidiscipline teams and diverse tools should be employed to establish a complete picture organizational performance and environmental conditions. Use of a diverse set of models during the strategic analysis process helps create this needed picture.*

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StrategyDriven Podcast Episode 16 – Strategic Analysis Multidiscipline Teams

StrategyDriven — Wed, 30 Apr 2008 00:41:24 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Episode 16 – Strategic Analysis Multidiscipline Teams elaborates on Strategic Analysis Best Practice 6 – Multidiscipline Teams. This discussion:

defines what a multidiscipline team is
identifies why multidiscipline teams are needed to support strategic analysis
lists the steps needed to form a multidiscipline team that collectively possesses the knowledge and skills to effectively perform a strategic analysis

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Strategic Analysis Best Practice 6 – Multidiscipline Teams

StrategyDriven — Fri, 25 Apr 2008 02:32:45 +0000

Today’s businesses operate in complex, multidimensional environments and often execute highly dynamic and interrelated processes. Evaluating these circumstances collectively requires a breadth and depth of knowledge not likely to be possessed by a single individual. In order to apply the range of knowledge and experience necessary to perform a complete strategic analysis subsequently requires the use of a multidiscipline team.

Multidiscipline teams help ensure the full range of needed knowledge and experience resources are brought to bear when evaluating, in aggregate, the interrelationships and interactions of the complex business environment with the execution of the organization’s programs, processes, and procedures. Having enough knowledge and experience resources occurs when the strategic analysis team includes individuals that together possess the background necessary to recognize significant beneficial and adverse performance drivers given the business’s operating situation. Unlike a focused self assessment, the broad range of business environments and operations covered by a strategic analysis typically necessitates that all functional disciplines be represented.

Additional Information

Additional information regarding the performance of strategic analysis can be found in the strategic planning whitepaper, Analysis. StrategyDriven whitepapers are available to Registered Members and registration is FREE! If you have not already done so, please click here to register and join the conversation.

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StrategyDriven Podcast Episode 15 – Independent Assessors

StrategyDriven — Wed, 16 Apr 2008 01:29:18 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Episode 15 – Independent Assessors elaborates on Strategic Analysis Best Practice 4 – Independent Assessors. This discussion:

examines the benefits of using independent assessors
identifies sources of impartial evaluators
describes the critical characteristics independent assessors should possess to maximize their effectiveness

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StrategyDriven Podcast Episode 14 – The Devil’s Advocate

StrategyDriven — Tue, 01 Apr 2008 11:04:44 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Episode 14 – The Devil’s Advocate elaborates on Strategic Analysis Best Practice 2 – advocatus diaboli, The Devil’s Advocate. This discussion:

defines what a Devil’s Advocate is
explains how the contrarian helps prevent group think
describes the critical qualities, responsibilities, and actions of the Devil’s Advocate

Final Request…

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StrategyDriven Podcast Episode 13 – Introduction to Strategic Analysis

StrategyDriven — Tue, 11 Mar 2008 10:53:23 +0000

StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.

Episode 13 – Introduction to Strategic Analysis serves as a foundation for the upcoming series of podcasts focused on the best practices associated with strategic analysis. This discussion:

defines what a strategic analysis is
describes the components of this in-depth examination of the organization and its business environment
identifies how strategic analysis helps an organization become more strategy driven

Final Request…

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Strategic Analysis Best Practice 5 – The Use of Models

StrategyDriven — Fri, 29 Feb 2008 02:55:24 +0000

In today’s data rich world, it is often difficult to identify the meaningful patterns and relationships that yield information decision-makers need to set the direction of their organizations. Additionally, complex market environments create a multitude of data analysis options; preventing any one person from seeing every possibility. Deriving compelling information from this sea of data and presenting it in simplistic, understandable, and actionable manner thus becomes the challenge of every business analyst. Helping solve this dilemma is the business model.

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Strategic Planning Whitepaper Introduction – Analysis

Karen Juliano — Sun, 11 Nov 2007 06:21:11 +0000

StrategyDriven contributors are pleased to introduce the strategic planning whitepaper: Analysis. This whitepaper outlines and describes the major steps taken to assess the organization’s internal performance and external environment in support of long range activity planning.

Strategic analysis is a critical component of the strategic planning process. An integral part of a company’s evaluation and control program, it provides executives and managers with a comprehensive assessment of the organization’s capabilities and market factors; revealing growth opportunities and vulnerabilities. Armed with this information, managers can more effectively chose from among today’s strategic alternatives to create the greatest future reward potential.

StrategyDriven whitepapers are available to Registered Members and registration is FREE! If you have not already done so, please click here to register and join the conversation.

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Strategic Analysis Best Practice 3 – Identify the Hidden Drivers (Continued)

StrategyDriven — Fri, 09 Nov 2007 00:01:17 +0000

Simply put, people tend to behave in the manner for which they receive reinforcement. There often exists both documented and undocumented performance drivers that exert unintended pressure on individuals to act in ways counter to achieving the organization’s mission goals. As a continuation of Strategic Analysis Best Practice 3 – Identify the Hidden Drivers, this post expounds on several common hidden performance drivers and how they may adversely impact mission achievement.

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Strategic Analysis Best Practice 4 – Independent Assessors

StrategyDriven — Wed, 24 Oct 2007 01:17:19 +0000

An individual’s perception of circumstances and events is largely shaped by his/her knowledge and experience, beliefs, values, and biases. In the organizational setting, this perception is influenced by the organization’s shared history, its culture, and the individual’s relationships with seniors, peers, and subordinates. Additionally, event perception is often limited by the individual’s finite, relevant knowledge and experience, as well as his/her employment impact concerns and desire for self-promotion. To be effective, a strategic analysis must be free of the impairments and limitations individuals within the organization have when assessing internal events and impactful external circumstances.

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Strategic Analysis Best Practice 3 – Identify the Hidden Drivers

StrategyDriven — Wed, 12 Sep 2007 02:54:49 +0000

Organizational alignment to common goals suggests executive, manager, and employee motivation is largely driven by its strategic plan. However, there are likely some additional, hidden performance drivers unintentionally created by the organization’s processes or embedded as an integral component of the organizations’ history and culture.

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Strategic Analysis Best Practice 2 – advocatus diaboli, The Devil’s Advocate

StrategyDriven — Tue, 07 Aug 2007 23:34:31 +0000

Shared experience, organizational pride, and/or conflict avoidance can diminish the criticality of data and conclusion assessment; leading to exaggerated optimism and resulting in an organizational pursuit of unrealistic goals. Inflated expectations may drive investment in projects well outside of the organization’s risk tolerance. In today’s aggressive marketplace and under intense shareholder scrutiny, missteps like these can be disastrous for a company and its executive team.

Employing a Devil’s Advocate throughout the assessment and decision-making processes helps prevent the unintended consequences of group-think. As a contrarian, the Devil’s Advocate deliberately assumes a position opposed to the consensus viewpoint. He or she actively seeks opportunities to discredit supporting information and challenge seemingly logical conclusions. By attacking the group’s position, the Devil’s Advocate demands a rigorous defense be presented by the evaluating group; ultimately strengthening the final decision.

The Devil’s Advocate is itself a challenging position to fill. Some organization’s have one or more individuals who naturally assume this role. For those not having a resident skeptic, the position of Devil’s Advocate can be assigned on a rotational basis in order to share the wealth. In either case, the contrarian qualities of critical thinking and questioning attitude are worthy of development in all managers and executives.

Additional Information

Additional information regarding strategic analysis can be found in the StrategyDriven whitepaper series Strategic Planning.

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Strategic Analysis Best Practice 1 – Integrity Without Excuses

StrategyDriven — Fri, 27 Jul 2007 02:02:51 +0000

For any strategic analysis to be effective, it must be done with an open, honest assessment of the facts. Organizations acting with integrity without excuses seek to identify and eliminate instances where fact-based assessment conclusions are diluted by unrelated factors or opinion-based influences. This mitigation often seeks to justify action perceived as desirable when the fact-based evidence would suggest another course. Justification is frequently based on business factors that are not specifically value related or biases lacking a relevant performance basis.

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Strategic Analysis – Introduction

StrategyDriven — Thu, 19 Jul 2007 23:43:09 +0000

Strategic analysis is a critical component of the strategic planning process. An integral part of a company’s evaluation and control program, it provides managers with a comprehensive assessment of the organization’s capabilities and market factors; revealing growth opportunities and vulnerabilities. Armed with this information, managers can more effectively choose from among today’s strategic alternatives to create the greatest future reward potential.

Strategic analysis combines in-depth information from a number of internal and external sources to create a picture of the subject company’s current health and future viability. A multi-phased approach to data acquisition and analysis includes:

Strategic Posture and Performance Analysis
Internal Capabilities Assessment
External Environment Assessment
Analysis of Strategic Factors
Strategic Alternatives and Recommended Actions

Execution of these iterative processes takes place throughout the year with a frequency dictated by the pace of both internal and external environmental change.

Focus of the Strategic Analysis Topic

Articles in this topic area are dedicated to discussing the leading practices of companies that successfully execute strategic analysis processes to support the ongoing strategic planning process. The following articles, podcasts, documents, and resources cover those topics critical to a superior strategic analysis program.

Articles

Best Practices

Best Practice – Integrity Without Excuses [StrategyDriven Premium Content]
Best Practice – advocatus diaboli – The Devil’s Advocate [StrategyDriven Premium Content]
Best Practice – Identify the Hidden Drivers [StrategyDriven Premium Content]
Best Practice – Identify the Hidden Drivers (Continued) [StrategyDriven Premium Content]
Best Practice – Independent Assessors [StrategyDriven Premium Content]
Best Practice – The Use of Models [StrategyDriven Premium Content]
Best Practice – Multidiscipline Teams [StrategyDriven Premium Content]
Best Practice – Diverse Models [StrategyDriven Premium Content]
Best Practice – Validate the Extremes [StrategyDriven Premium Content]
Best Practice – Compare Organizational Goals to Resource Assignments [StrategyDriven Premium Content]

StrategyDriven Podcasts

StrategyDriven Podcast

StrategyDriven Podcast – Special Edition

Documents

Whitepapers

Analysis [StrategyDriven Premium Content]

Resources

Books

Essentials of Strategic Management by J. David Hunger and Thomas L. Wheelen

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Recommended Resource – Essentials of Strategic Management

StrategyDriven — Sun, 15 Jul 2007 22:55:22 +0000

Essentials of Strategic Management (4th Edition)
by J. David Hunger and Thomas L. Wheelen

About the Reference

The Essentials of Strategic Management (4th Edition) by J. David Hunger and Thomas L. Wheelen focuses on the founding principles and methods employed in both strategic planning and execution. Topics include strategy formulation, implementation, and control.

Benefits of Using this Reference

StrategyDriven contributors like this reference because its presentation is concise and direct while at the same time providing the detail needed to give the reader a fundamental understanding of strategic planning and execution. This book provides a full array of easy to follow tools and instructions that are ready for use by organizations of any size.

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