strategy (97)

Data Min(e)dset

There are data miners and then there is data mindset. The former are the people and/or their tools that do the digging through the numbers. The latter is about a whole lot more. 

Last week I blogged about how to help people believe the numbers. This week I am going a big step further talking about four different types of data mindsets and the implications for decision making in an organisation (see figure).   

            8028276887?profile=original                                                                     Data Mi

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Helping them believe the numbers

8028275682?profile=originalDecisions are all about emotion, however, numbers are so very important. At the end of the day if the bank balance is zero, no amount of emotion is going to change that. 
When it comes to numbers and decision making there are essentially three positions people take. 

Believers 

These people believe numbers enhance decisions. In fact, decisions should be based on the numbers. The effort must be put in to find and assess the numbers. 
The problem for these people is that if they can’t find any numbe

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When numbers hurt most

8028280301?profile=originalOne of the most soul-destroying events that can happen to a company is for a bean counter to be appointed as CEO with a vision that involves cost cutting and not much else. While I am one of the first to hold true to “In God we trust, all others bring data”, I have seen too many companies damaged from a CEO overly focused on cost cutting. A CEO that is dumped within a few years. 

Don’t get me wrong. A focus on costs is important and sometimes dramatic cost cutting is essential, however, as with a

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Spending vs Investing

8028278660?profile=originalA strategy is of itself a hypothesis. Something that is proved true or false over time.  For more on this, read one of my most popular blogs here: A strategy is but a hypothesis.

In proving your hypothesis, you eventually find out if you are spending on a failed strategy or if you are investing in a successful one.

The key to shifting from spending to investing is to set up your strategy, from the start, so you can measure your spend and your return on your investment each step of the way. This al

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From Trust to Trust with Data

8028277875?profile=originalWe need data we can trust so that we can build trust using data. However, it is not as easy as it sounds. 

A study of over 1,400 marketing campaigns by the Institute of Practitioners in Advertising in the UK found that campaigns selling on emotion only were 32% effective. Worse still, campaigns selling on logic only were 16% effective. Blah! 

More strikingly, campaigns combining logic and emotion were 26% effective. The use of logic brought the effectiveness down. 

Emotion in decision making is a v

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8028276073?profile=originalIn recent blogs I have been urging you to stand in the shoes of those you wish to influence. Recently I read a blog by futurist Gihan Perera that gave another reason to urge you on. In his blog There’s an ‘I’ in Team he reminds us that the young new entrants to our workforce have a very different WIIFM (What’s in it for me?) than new entrants of past decades. Gihan talks about their wishes including the need for identity and personal development. 

So they won’t care what you think unless you can

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Acceptance of mediocrity

8028272058?profile=originalIn my first book, DECIDE: How to manage the risk in your decision making, I made the statement “…in my experience, an acceptance of mediocrity and an acceptance that projects (and decision making) are difficult are the norm in the vast majority of organisations.”

In the simplest terms, when you are advising you are influencing a decision. Every one of us has been frustrated when someone has chosen not to take our advice. Whether we are a parent, a salesperson or an internal adviser to a business

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The Strategic Management Frameworks and the Delta Model: Putting Customers Before Products

The Dangers of the Conventional Definition of Strategy

Strategy as Rivalry

Enrique R. Suarez

suarezenrique@yahoo.com

suarezenrique@post.harvard.edu

Until now, the prevailing view – shared by most practicing managers and academics – has been to define the goal of strategy as achieving sustainable competitive advantage.

Most, if not all, of the most respected and popular frameworks that guide the strategy developme

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Board of the Wrong Questions

8028269687?profile=originalLast week my blog was about the need to tap into board experience. Today I write about how boards need to be asked the right questions to provide their experience, to lead. Executive teams should ask their boards quite explicitly:

  • About Risk – What risks do they see with the strategy? What emerging risks to the organisation do they see from their experience outside of the boardroom.
  • About Opportunity – What opportunities do they see to improve the strategy? What opportunities do they see that the
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Challenges to the Not-for-Profit Organizations: Lessons from the Delta Model.

Singapore's Case-study

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Click on the link below to see the entire PP presentations:

Part 1: The Delta Model as Applied to Not-for-Profit Organizations

DeltaModel_NonProfit_1.pdf

Part 2: Singapore Fundamentals and the Role of the Economic Development Board (EDB) in Making Singapore one of the most Advanced Economies in the world

Singapore_EDB_64.pdf

Upon request, I will send you the complete training program (electronic and non

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Did you know that according to research every year 2 million individuals enter leadership positions and 60% fail?

According to Dr. Ted Marra, most often the root cause is a failure to think strategically.

Research says most executive development is disconnected from the real needs of the organization and those who must lead it. 

Learn what it takes to transform yourself to become a Strategic Leader.

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1. What are the certain actions performed by Level 5 leaders which separate them from the rest o

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Join Global Risk Community for a webinar on How To Identify And Measure Your Strategy Execution Risk

What sank the Titanic and is sinking some of our great companies? What will separate future winners from losers?

50% of the Fortune 500 companies in the year 2000 do not longer exist because they were not able to measure and predict their strategy execution risk and link their decisions to the results of their decisions.

By the end of the webinar you will be in a better position to identify the ri

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Dear Global Risk Community member,


Time is running out if you want to secure your spot on the Cultivating Your Strategic And Creative Thinking Program. 

http://globalriskacademy.com/p/strategic-thinking/

Starting 7th November, it runs for 3 months and you can fit your study around your work and home life, setting the pace yourself.

(Only 8 spots left for the upcoming program starting November 7)

As an executive taking on greater leadership responsibilities, you need to learn how to think mo

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From Asset Allocation to Risk Allocation

It has been my pleasure to work with William G. Ferrell, CIO of Ferrell Capital Management to produce a new online course "From Asset Allocation to Risk Allocation".  This course provides valuable insights into a new paradigm for managing investments - based on dynamically monitoring statistics related to Risk, rather than simply creating a diversified portfolio and hoping for the best.  Bill uses the analogy that this is like using Doppler Radar rather than the Farmer's Almanac to predict the w

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In his book, “The Wisdom Chronicles: Competing to Win”, Dr. Ted Marra made the point that the success of virtually all organizations comes down to the relentless focus on a vital few factors. The unfortunate truth is that most senior executives are clueless about what they are.

Dr. Marra agreed to offer his book 'The Wisdom Chronicles: Competing to Win' for complimentary download for members of Global Risk Community (it is a short book) via the following link: https://mediaexplorers.lpages.co/co

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For those readers of Part I and possibly some new readers as well, I hope that this article continues to add value and provide a different perspective – one through the eyes of a frontline employee.

I believe it is worth noting some of the activities which I have found senior executives need to engage in beyond those already stated in Part I which can contribute to making this change process successful.

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If you want to learn more, join my new online program:  Becoming a Strategic Leader in 6

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I can already sense what you’re thinking! The last thing we need is another article on cultural or organisational change! Please, give us a break! Certainly I know all too well the number of consulting organisations out there like Senn-Delaney and all the other ‘big’ and ‘small players’ as well as independent consultants who believe they have the unique edge or insight into this issue.  I have a good friend and colleague, John Childress who is head of Principia Group in London who just recently

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How do we maximize Customer Satisfaction?

So, you have a robust product roadmap. It's got all the product features you need, from the most basic to the most innovative. Now, how did you prioritize these features?

And, are you sure you prioritized things correctly?

With limited resources, all organizations strive to prioritize those activities that drive the most value. This is particularly true in product development. Focusing on the right or wrong set of features can make or break your product (or even company).

The Kano Customer Satisfac

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Who is attending OpEx Insurance 2016?

The response from the market to this timely meeting has been exceptional, with a number of the most senior Opex insurance professionals confirmed to attend.

If you’d like to see the full list of attendees please download here.

This is the only conference that takes a deep dive into the operational challenges facing the Insurance Industry. With new entrants and changing customer expectations on one side, and decreasing investment returns on the other, Insurers must make a choice: innovate or fall b

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First, let’s define Value Proposition.  Here’s what Wikipedia has to say:

A value proposition is a promise of value to be delivered and acknowledged.  Creating a value proposition is a part of business strategy. Kaplan and Norton say “Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation.”

Why is having a clear and compelling Value Proposition so important?

  • It solves a customer problem or satisfies a customer need.
  • It is th
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