336: Initial logic and objective function (Strategy Skills classics)

336: Initial logic and objective function (Strategy Skills classics)

For this episode, let's revisit a Strategy Skills classic from the Corporate Strategy & Transformation study.

In this phase of the podcast series, we are focusing on week 4 when we are bringing the entire leadership team together to help them make one decision.

The only decision they have to make is:

"Should Empire International focus on the non-regulated non-core activities as they are now doing or refocus their efforts to support Empire Energy on their core regulated business: generating energy, transmitting energy and distributing energy?"

In today's podcast, while we are heavily focused on week 4 and the build up to that major visioning workshop, we step back to understand a little bit of the broader contextual issues facing this client.

If you have been following this podcast series you will realize that there are 2 criteria that must be met for any strategy study to be a corporate level strategy study.

The first one is the objective function for the client, the key question for the client, must be unclear. If the objective function is known for the client than you are not doing a corporate strategy study. You are doing some other kind of strategy study, like BU strategy.

The other condition is that you have to help the client pick the market where they want to compete. And that usually involves doing a lot of industry analysis /value chain analysis.

The skill explained in this podcast is essential for any partner, but it is equally useful for any consultant at any level. Getting clarity when many paths are possible is a crucial skill to have. Most bad consulting engagements hit their main hurdles at this early stage, in determining the key problem facing the client.

In this podcast, we want to help you understand how we went about figuring out the objective function for this client. And this is something we did way back at the beginning of the study, before we even started. And if you go onto the website and you look at the detailed maps, videos, power points as we explain each step in the study, this is explained in enormously more detail than what we are going to do here.

Yet, seeing this helicopter view is important.

What we want to do here is simply explain the questions we wanted to answer to determine the objective function and how we wrote out the logic. If you do this, you will always be on the right track.

Click here to see the full study and here to see the merger study and market entry study.

Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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169: Tom Eisenmann, Startups and their wrong decisions

169: Tom Eisenmann, Startups and their wrong decisions

Welcome to Strategy Skills episode 169, an episode with the Howard Stevenson Professor of Business Administration of Harvard Business School, Tom Eisenmann. Get Tom's new book here: https://amzn.to/3Dmxqkl Tom Eisenmann, as a Harvard Business School professor for the past 24 years, has guided over a thousand Harvard Business students and alumni as they launch new ventures up to their success. But not every startup story is like this. In this episode, Tom talked about a glimpse of his new book  where he carried out numerous case studies about failed startups. And from these, he found 6 patterns why a lot of startups fail. For those founders, at any stage of their entrepreneurial journey, this is for you. WHY STARTUPS FAIL: A New Roadmap for Entrepreneurial Success. Tom Eisenmann: https://amzn.to/3Dmxqkl Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

7 Syys 202148min

168: Jeff Kavanaugh, Unleashing your employees

168: Jeff Kavanaugh, Unleashing your employees

Welcome to Strategy Skills episode 168, an episode with Jeff Kavanaugh. Get Jeff's new book here: https://amzn.to/3Bfd8Hr Jeff Kavanaugh is the global head for Infosys Knowledge Institute - the research and thought leadership arm of global IT powerhouse Infosys, a leader in digital services and consulting. Aside from speaking on conferences, he also teaches at the Business School of University of Texas at Dallas as an adjunct professor. He serves on boards of the Institute of Business Analytics at Indiana University, and the Marketing Analytics Advisory Board at the University of Texas at Dallas. He is the author of the best-selling book Consulting Essentials. THE LIVE ENTERPRISE: Create a Continuously Evolving and Learning Organization. Jeff Kavanaugh: https://amzn.to/3Bfd8Hr Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

2 Syys 202157min

167: Mike Zani, How data science could boost your workforce

167: Mike Zani, How data science could boost your workforce

Welcome to Strategy Skills episode 167, an episode with Mike Zani. Get Mike's new book here: " data-userid="751940007443001344" data-orgid= "751940008097312768">https://amzn.to/3kskiBp Mike Zani is the CEO of The Predictive Index, a platform that is dedicated to talent optimization using over 60 years of proven science and software. They help businesses in creating high-performing teams, making objective hiring decisions, and inspiring greatness in people. They have 8,000+ clients that includes Bain Capital, Blue Cross Blue Shield, DoorDash, LVMH, Nissan, Omni Hotels, and VMware. In this episode, Mike talks about building effective teams, preparing companies for the future of work, developing strategies for long-term success, and more. THE SCIENCE OF DREAM TEAMS: How Talent Optimization Can Drive Engagement, Productivity, and Happinessby Mike Zani. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

31 Elo 202150min

166: Tesla, Elon Musk, and the bet of the century. Tim Higgins (WSJ reporter)

166: Tesla, Elon Musk, and the bet of the century. Tim Higgins (WSJ reporter)

Welcome to Strategy Skills episode 166, an episode with Tim Higgins. Get Tim's new book here: https://amzn.to/3BiHWai Tim Higgins is a reporter for The Wall Street Journal. He writes about tech and auto companies, mostly about Apple and Tesla. You can see him regularly on CNBC as an on-air contributor. Prior to this, he worked for Bloomberg News as writer for the Businessweek magazine. Throughout his career of covering big businesses and US Politics, he has won multiple Society of American Business Editors and Writers, Inc. (SABEW) Awards, has received honorable mention from Loeb Awards, and has been a five-time finalist for the Livingston Awards. POWER PLAY: Tesla, Elon Musk, and the Bet of the Century. Tim Higgins: https://amzn.to/3BiHWai Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

28 Elo 202149min

165: Rob Lachenauer, How family businesses span generations

165: Rob Lachenauer, How family businesses span generations

Welcome to Strategy Skills episode 165, an episode with Rob Lachenauer. Get Rob's new book here: https://amzn.to/3iRZ531 Rob Lachenauer is a Managing Partner and the founding CEO of BanyanGlobal. He has been both a consultant and entrepreneur throughout his career. He was a Vice President and Director of BCG for 9 years where he helped multi-national companies plan and implement strategies. He has also worked with family businesses throughout the world by helping them with decision-making while strengthening family relationships. Rob has frequently contributed to the Harvard Business Review, which includes "Making Better Decisions in Your Family Business," "What Happens When You Lose Your Mentor," and "Why I Hired an Executive with a Mental Illness." He also co-authored Hardball: Are You Playing to Play or Playing to Win? with George Stalk. HBR FAMILY BUSINESS HANDBOOK: How to Build and Sustain a Successful, Enduring Enterprise. Rob Lachenauer: https://amzn.to/3iRZ531 Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

1 Elo 202156min

164: Josh Baron, Family business during the pandemic

164: Josh Baron, Family business during the pandemic

Welcome to. Strategy Skills episode 164, an episode with Josh Baron. Get Josh's new book here: " data-userid="751940007443001344" data-orgid= "751940008097312768">https://amzn.to/3iRZ531 Josh Baron is a partner and co-founder of BanyanGlobal, a professor at Columbia Business School, a thought leader and author of Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise (HBR Handbooks). He has worked closely with family-owned companies, foundations and offices for over a decade now. He has been helping these families define their purpose as owners and establish strategies to accomplish their goals. He is also teaching MBA courses on Family Business Management and Managing Conflict in Family Business. He has also written articles for The Huffington Post, Trust & Estates Magazine, and Family Business Magazine, among others. HBR FAMILY BUSINESS HANDBOOK: How to Build and Sustain a Successful, Enduring Enterprise. Josh Baron: https://amzn.to/3iRZ531 Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo We use affiliate links whenever possible (if you purchase items listed above using our affiliate links, we will get a bonus).

31 Heinä 20211h 3min

163: Is it a good time now or should I wait until I become more senior? Author Program Q&A 2.

163: Is it a good time now or should I wait until I become more senior? Author Program Q&A 2.

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is the 1st of a 10 episode program to help our clients and customers measurably, radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

24 Heinä 20217min

162: Is this good for my career at this point in time? Author Program Q&A 1.

162: Is this good for my career at this point in time? Author Program Q&A 1.

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is the 1st of a 10 episode program to help our clients and customers measurably, radically transform their careers through The Author Program. How would your career, reputation, and earnings change as a published author? Imagine your client interactions when potential and current clients saw your thinking in a published book before they met you? Imagine the time you would save not having to explain your ideas and the value you could add to them? Imagine the fee premium you could earn? Imagine avoiding awkward meetings trying to establish your credibility? Imagine how many potential clients would find you and reach out to you? Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

22 Heinä 20217min

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