87: How to think about financial strategy | management consulting

Marcy Syms, former CEO of Syms Corporation and president of the Sy Syms Foundation, reflects on leadership, governance, and the responsibilities of stewarding a family-founded, publicly traded business. Her perspective blends the operational discipline of retail with long-term thinking shaped by philanthropy and board service.   Syms underscores that organizational resilience rests on clear governance, candid communication, and leaders willing to face hard choices directly. As she puts it, “Leaders are not tested when things are going well—they’re tested when the pressure is on and they have to make tough decisions.”   Key insights from the discussion include: Governance as Stewardship Boards must challenge assumptions and safeguard alignment between values, accountability, and performance. “The role of an independent director is not to be a cheerleader, it’s to really be a steward.” Succession in Family Enterprises Generational expectations can create friction with shareholder responsibilities. Codifying roles, rules of engagement, and equity structures helps prevent conflict. “If you don’t write it down, you’re going to end up with misunderstandings.” Retail as a Proving Ground Syms draws lessons from decades in a competitive industry, highlighting the need to balance cost discipline with customer orientation and agility in adapting to change. Philanthropy with Rigor Through the Sy Syms Foundation, she illustrates how philanthropy can extend corporate values into society when managed with the same discipline as business strategy. “Philanthropy isn’t just giving money away, it’s about investing in ideas and people with the same rigor you bring to business.” Authenticity in Leadership For Syms, credibility is earned through constancy: “People watch what you do over time. If you stay true to your principles, that’s how you build trust.” This conversation provides senior executives and board members with a grounded perspective on balancing family legacy, fiduciary responsibility, and societal contribution. It offers practical lessons in governance discipline, leadership maturity, and aligning enterprise with enduring values.   📚 Get Marcy’s book, Leading with Respect, here: https://shorturl.at/V0zJ3   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

27 Aug 55min

Why do even the most successful executives and management consultants secretly struggle with the belief that they’re not good enough?   In this conversation with Josh Davis, PhD (psychology & neuroscience, Columbia University, NLP trainer) and Greg Prosmushkin (trial lawyer turned entrepreneur), we unpack: Why top leaders and consultants battle with imposter syndrome How invisible mental models shape every decision and client interaction Why strategy, frameworks, and technical skill aren’t enough if this belief goes unchallenged Practical NLP tools to shift your mindset, reframe limitations, and lead with confidence How to communicate with influence by understanding someone else’s mental model   Whether you’re leading a strategy engagement, preparing for a board presentation, or positioning yourself for partnership, this discussion reveals how to break through limiting beliefs and unlock executive presence.   Key Takeaways for Executives & Consultants The real cost of “I’m not good enough” in leadership roles Why curiosity and modeling are underused tools in consulting How small language shifts transform client influence and team leadership A proven process for reprogramming your internal dialogue   Get Josh Davis & Greg Prosmushkin’s book: https://shorturl.at/ixLfi The Difference That Makes the Difference: NLP and the Science of Positive Change   For advanced strategy, leadership, and executive presence training, visit: https://www.strategytraining.com   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

25 Aug 54min

Brad Englert, former Accenture partner, IT strategist, CIO, and author, shares how building genuine relationships has been the cornerstone of his career success. From his early days in technology consulting to leading large-scale initiatives, Brad reveals the mindset and habits that helped him grow, earn trust, and thrive in a competitive corporate environment.   In this episode, we discuss why relationships are the ultimate career multiplier, opening doors to opportunities, mentorships, and partnerships that skill alone can’t guarantee. Brad’s story offers actionable insights for professionals who want to grow their influence, navigate organizational politics, and create long-term career success.   What you’ll learn in this episode: How Brad’s career path took him from hands-on technology work to Accenture partner The role relationships play in promotions, opportunities, and leadership roles Practical strategies for building trust across teams and organizations Lessons learned from consulting at the highest level How to create a career that’s resilient to change   About Brad Englert: Brad Englert is a former partner at Accenture, where he spent decades advising clients on technology and strategy. He is the author of Spheres of Influence.   📚 Get Brad’s book, Spheres of Influence, here: https://shorturl.at/GWYuE   🎧 Visit Brad’s podcast here: https://bradenglert.com/podcast   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

20 Aug 52min

Robert E. Siegel, Stanford Graduate School of Business professor, venture capitalist, and former executive, shares the leadership lessons he learned working with Intel’s legendary CEO, Andy Grove, and other amazing leaders, and how to thrive in today’s era of conflicting pressures.   In this in-depth conversation, we explore the concept of the systems leader, someone who can innovate while delivering results, balance global and local priorities, and combine decisiveness with humility. Drawing from his work with leading CEOs, his investing career, and his experiences in fast-moving industries, Robert explains how leaders can adapt and stay relevant, even as AI, economic shifts, and political uncertainty reshape the business world.   What you’ll learn in this episode: How Andy Grove influenced Robert’s approach to leadership and decision-making Why the most effective leaders thrive in environments of “cross-pressures” Practical steps for staying relevant as technology and AI transform industries The importance of balancing execution with long-term vision Stories from Robert’s career as an operator, investor, and Stanford professor   About Robert Siegel: Robert is a Lecturer in Management at Stanford GSB, a venture capitalist, and a board member for multiple technology companies. His work blends academic research with real-world experience, guiding executives at the highest level.   Get Robert’s new book here: https://shorturl.at/Zhv9N The Systems Leader: Mastering the Cross-Pressures That Make or Break Today’s Companies   Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

18 Aug 51min

L. David Marquet, former nuclear submarine commander and author of Leadership Is Language, shares a precise, operational approach to leadership, one that replaces command-and-control with a language designed for clarity, ownership, and adaptability. Drawing on his experience turning the USS Santa Fe from one of the worst-performing submarines in the fleet to one of the best, David shows how seemingly small shifts in language can radically improve decision-making, learning speed, and execution.   David rejects the traditional leader–follower model in favor of a leader–leader framework, where decision rights are pushed “to the people closest to the information.” He explains how questions, statements, and the timing of communication directly shape whether teams think critically or default to compliance.   “What we say and when we say it changes what people do. Language is a leadership technology.”   Key Takeaways: Replace Permission with Intent Moving from “Can I…?” to “I intend to…” changes accountability and ownership: “When people tell me what they intend to do, they’re already owning the decision.” Protect Redwork and Bluework David distinguishes between redwork (doing) and bluework (thinking/planning) and stresses keeping them separate: “Mixing them degrades both. You want focused doing and focused thinking.” Sequence for Thinking, Not Speed Meetings often reward quick answers over thoughtful ones. Asking the most junior person to speak first helps reduce conformity bias. Use Language to Invite Dissent Adding uncertainty—“I’m not sure, but…”—creates psychological safety and surfaces crucial information that might otherwise stay hidden. Leaders Design Systems, Not Just Give Answers The leader’s job is to build communication structures that distribute thinking and enable faster adaptation in changing conditions. This episode is a practical blueprint for leaders who want to operationalize empowerment without losing control. By deliberately changing how they speak and listen, executives can create teams that are more resilient, accountable, and high-performing.   Get David’s new book here: https://shorturl.at/sv6QO Distancing: How Great Leaders Reframe to Make Better Decisions   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

13 Aug 55min

Sarah Elk, Senior Partner at Bain & Company and global leader of its operating model work, brings a clear, pragmatic lens to why so many large-scale change efforts fail to stick. Drawing on decades of advising multinational organizations, she diagnoses the structural and behavioral traps that cause transformations to stall, and shares the disciplines that make change durable.   Elk emphasizes that transformation is not a one-off program but an enduring capability that must be “led from the top and embedded in the culture.” She cautions against outsourcing responsibility to a program office: “If the CEO is not leading it and the leadership team isn’t engaged in the change, you might get something done, but it will erode quickly.”   Key Insights from the Conversation: Clarity on Non-Negotiables Many failed transformations lack a shared definition of the “non-negotiables” in the new operating model. Without them, execution becomes fragmented. “You have to be crystal clear on what’s standard and what’s flexible.”   Outcomes Over Activity Successful change efforts anchor to measurable business results, not just activity metrics or generic benchmarks. “It’s not about hitting 80 percent of a checklist. It’s about whether you’ve moved the needle on the outcomes you care about.”   Leadership Alignment Is a Continuous Process Alignment isn’t built in a single offsite; it requires ongoing dialogue, joint problem-solving, and confronting decisions that challenge entrenched interests. “You need the leadership team acting as one—every week, every month—not just at the kickoff.”   Manage Change Fatigue Overloading the organization erodes momentum. Sequencing initiatives and celebrating visible early wins tied to strategy helps sustain energy. “People get tired. You have to show progress and give them space to breathe.”   Governance, Incentives, and Talent Must Evolve Together Elk warns that without parallel changes to systems and structures, “behavior will revert to what it was before.”   The discussion reframes transformation from a high-profile event into a muscle organizations must build and maintain. For executives seeking change that endures beyond the initial push, Elk offers a blueprint grounded in operational rigor, leadership accountability, and cultural realism.   Get Sarah’s book here: https://shorturl.at/Tyotz Doing Agile Right: Transformation Without Chaos   Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

11 Aug 1h 1min

John Horn, professor of economics at Washington University's Olin Business School and former McKinsey strategist, shares a disciplined framework for understanding competitive behavior by applying game theory and structured simulations. In this episode, he explains how companies can elevate competitor analysis from basic intelligence gathering to actionable strategic insight.   Horn begins by debunking the common misconception that many competitors behave irrationally. As he puts it: “Every single time a client said the competitor is irrational, I could ask them... two, three questions which would explain... why the company was being rational in what they were doing.”   He outlines a four-step framework leaders can use to model likely competitive behavior: Observe what competitors say and do, including press releases, earnings calls, and other public data. Assess their assets, resources, and capabilities, and imagine what you'd do in their position. Identify the decision-maker and their background to infer how they think: “If you grew up as a marketer and you became a CEO, you’re going to look at the world from a marketing perspective.” Make a short-term prediction, write it down, and revisit it: “It becomes a virtuous cycle of getting a better insight into how that competitor thinks.”   Horn emphasizes that many firms fall short because they stop at step one or lack mechanisms to feed deeper insights into decision-making. He also stresses the role of empathy—not sympathy—in strategy: “I do have to empathize, understand why they’re making the choices they make.”   War gaming, in Horn's view, is a powerful simulation tool, not theater. “It’s a chance to practice business choices in a risk-free way... and just a much more realistic discussion.”   For entrepreneurs or under-resourced teams, Horn offers a lighter-weight version called "War Gaming Lite," which enables rapid, structured thinking about competitive responses using only internal knowledge and role-playing.   He also discusses how human biases, short-term incentives, and lack of time make both your firm and your rivals more predictable than you might think: “People really are predictable... It’s not rocket science—it’s about being disciplined.”   Whether you're a startup founder or a Fortune 500 executive, this episode offers practical steps to improve your strategic foresight and competitive positioning, grounded in empathy, behavioral realism, and iterative prediction.   Get John’s book here: https://shorturl.at/6DOyh Inside the Competitor's Mindset: How to Predict Their Next Move and Position Yourself for Success.   Here are some free gifts for you: Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

6 Aug 1h

For this episode, let's revisit one of Strategy Skills classics, where we interviewed Kate Smaje, Senior Partner at McKinsey & Company and Global Leader of McKinsey Digital.   In this episode, Kate offers a clear-eyed and disciplined perspective on what it takes for organizations to succeed in digital transformation. Drawing from deep client work across industries, she outlines a practical, results-focused view of how digital can be embedded into the operating core, not treated as a parallel initiative or buzzword.   Kate Smaje challenges conventional narratives around innovation, urging leaders to look beyond technology adoption and focus instead on talent systems, cultural alignment, and strategic clarity. “We often start with a conversation about tech, but the value comes from the way you bring it all together,” she says. “If you think digital is the job of the digital team, you’ve missed the point. It’s about how the whole organization behaves.”   Key Takeaways: Digital Transformation Must Be CEO-Led and Enterprise-Wide Smaje emphasizes that meaningful transformation requires the involvement of the full organization, not just IT or digital teams. “Digital is everyone’s job. The companies who really succeed have a CEO and leadership team who are actively engaged.” Shift Metrics from Volume to Value She critiques outdated performance metrics: “If you’re just measuring lines of code or hours worked or features shipped, you’re not measuring outcomes.” Technology Without Architecture Is Just Chaos Many companies overemphasize agile practices but underinvest in foundational tech and data coherence. “You can’t run 300 agile teams and not have an architecture that supports it. It’s like having everyone run at speed but in different directions.” Product Ownership and Cross-Functional Clarity Are Essential Successful organizations empower teams with clear product mandates while maintaining enterprise-wide alignment. “The product owner model is about creating real accountability, with multidisciplinary teams who have the context to make decisions.” Leadership Behavior Drives Cultural Change Where leaders focus their time is a key signal: “One of the biggest indicators of success is how leadership spends its calendar.” This conversation is essential listening for senior executives who want to move beyond surface-level digital initiatives and embed durable capabilities that support both innovation and performance. Smaje leaves no doubt: digital excellence is not a side project—it’s a leadership discipline.   Get Kate’s book here: https://shorturl.at/hxqk6 REWIRED: The McKinsey Guide to Outcompeting in the Age of Digital and AI. Eric Lamarre, Kate Smaje, Rodney Zemmel.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

4 Aug 48min