Summer brings back memories of the camp. As a kid, all my friends went to a beautiful wooded summer camp where they swim, shoot and frolic. Highly allergic to play, I was sent to a strategic training camp. One evening on wooden sticks on grilled spinach and tofu on a campfire, the camp counselor at the camp wore a tan short-sleeved shirt, plaid shorts, black socks and Cordoba wing tips to tell us this terrible story:
“A few years ago, when two managers got lost, they were hiking in these same woods. Settling down at night, they wandered aimlessly from one project to another without realizing the key drivers of the success of their business strategy. What is. Suddenly, they hear strange noises from the surrounding forest. It’s the sound of the customer’s voice, but they don’t get noticed because they don’t want to go through the hassle of updating plans.
Fearing that there is no strategic direction, the two managers are frantically stuck on their 65 slides PowerPoint deck to find a way out. However, in the pages of Eight-Point Arial Fonts and Editing Art, there is no mention of core abilities and abilities that can save their strategies from the impending doom. When they are buried with a list of strategic goals, key success factors and strategies, their screams are eventually drowned, looking good on paper but have no real impact on their long-term success. ”
Needless to say, after that horrible story, I can’t do it SWOT Analysis One week. However, it did give me a deep dive into the importance of understanding what drives our strategy. We often spend a lot of time working through market analysis, goals, goals, strategies, strategies and metrics that we can’t see exactly what will create or break our strategies. A study of 103 companies with corporate value of at least $1 billion showed that strategic mistakes are the biggest loss of shareholder value, 81% of the time.
Since strategy is “how”, we will achieve our goals, core competencies and competencies will drive our ability to successfully achieve our strategic potential. Let’s take a closer look at these two key concepts.
Core abilities
Core competence is the main area of expertise. This is your collective learning based on knowledge and skills that brings differentiated value to your customers and a competitive advantage. One of the reasons companies lack competitive advantages is because they do not have core capabilities. If core capabilities have not been identified and developed, the lack of resources focuses ensures mid-way products and services. Consider your group: What are your core abilities?
In short, the core capability is You know. Common examples of core capabilities include Honda’s engine design and development, McDonald’s food delivery system, and Canon’s optics and imaging. Remember that core competence is more than just something you know very well. It embeds a competitive important knowledge that is embedded in a group that can enable development and execution to world-class standards. Sounds tough, doesn’t it? While we may not have the core competitiveness that produces excellence at the moment, will it be effective to talk about what it might be and work on building this summit?
Problems with strategy bootcamp:
- What are the areas of knowledge and skills your group has?
- Are these areas the best in the industry at present?
- Which of these areas generates the greatest differentiated value for customers?
Function
Often, what is confused with core abilities is the one-word ability. Function refers to competitive related activities performed with key resources. They are purposefully configured to your resources through activities designed to drive policy success. In short, the function is What you do to yourself. Common examples of abilities include Walmart’s Point of sale data analysis, ebayThe alignment between software developers and marketers and Nike’s brand management. When trying to identify features, it’s easy to fall into the trap of listing a bunch of things until you have seventy-nine features. Remember that functionality is a “competitively relevant” activity that uses resources in a way that creates unique value to internal or external customers.
Problems with strategy bootcamp:
- What are the three abilities of your group?
- What evidence supports the first three capabilities?
- What are the first three features of your most dangerous competitor?
Any discussion of a strategy must begin with an honest assessment of your core competence and competence. Everyone in your group knows what are core abilities and abilities and how they contribute to their own development? If not, your group may find yourself lost in the forest without maps, flashlights and interesting rashes. It’s better to check it out.
