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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183: How to start shifting to the career you've always wanted - Author program Q&A 7

183: How to start shifting to the career you've always wanted - Author program Q&A 7

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and 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

25 Okt 20216min

182: What is corporate strategy? (Strategy Skills classics)

182: What is corporate strategy? (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills where we discuss the most important concepts you need to understand in order to advance your career. Be reminded about what is Corporate Strategy and how is it different from the other types of strategies. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

20 Okt 202112min

181: How to handle a "horrible" client (Strategy Skills classics)

181: How to handle a "horrible" client (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills where we answer a question from our audience. Facing a "horrible" client is a common experience in the business world. You could say that it is part of the journey. It can be hard to know what you should do during this situation. But it is exactly in these types of situations that we learn a lot. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

18 Okt 202114min

180: Jonathan Brill, Turn uncertainty into opportunity

180: Jonathan Brill, Turn uncertainty into opportunity

Welcome to Strategy Skills episode 180, an episode with the former Global Futurist at Hewlett Packard, Jonathan Brill. Get Jonathan's new book here: https://amzn.to/3uG0m2F Jonathan Brill is an expert on resilient growth, innovation, and decision-making during uncertainty. He helps organizations by preparing them to profit from radical change. As a former senior leader in HP, he directed the company's long-term strategy programs. He was also a creative director at Frog Design and the managing partner of innovation firms that created over 350 products. He is currently the managing director at Resilient Growth Partners and a board member at Frost & Sullivan, a major market intelligence firm with offices in 46 countries. He also develops products for both fictional heroes and real people as the Futurist-in-Residence at Territory Studio, the creative visionaries behind the sci-fi tech in Steven Spielberg's Ready Player One, Ghost in the Shell, and Blade Runner 2049. He advises globally on product innovation and resilient growth strategy with clients, including Samsung, Microsoft, Verizon, PepsiCo, the United States government, and the MIT Media Lab. He is an in-demand thought leader, speaker, and contributor to TED, Singularity University, Korn Ferry, JP Morgan, Forbes, and Harvard Business Review. He holds a degree in industrial design from Pratt Institute and has done extensive management training at Stanford University.  In this episode, Jonathan talked about how companies could prepare for uncertain times and what they could do to turn these into opportunities for profit and growth. For business owners who want to have a more secure future for their companies, this is for you. ROGUE WAVES: Future-Proof Your Business to Survive and Profit from Radical Change. Jonathan Brill: https://amzn.to/3uG0m2F 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).

13 Okt 202141min

179: How to write a book even if you're "too junior" - Author Program Q&A 6

179: How to write a book even if you're "too junior" - Author Program Q&A 6

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and 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

11 Okt 202110min

178: Should I wait to publish a solo book? Author Program Q&A 5

178: Should I wait to publish a solo book? Author Program Q&A 5

Learn more and see the application guidelines: https://www.firmsconsulting.com/experts-published-author-program/ Apply: email team@firmsconsulting.com This is a part of a 10-episode program to help our clients and customers measurably and 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

10 Okt 202111min

177: Matt Blumberg, How to build a successful startup

177: Matt Blumberg, How to build a successful startup

Welcome to Strategy Skills episode 177, an episode with the CEO and Co-Founder of Bolster, Matt Blumberg together with his Co-Founder Jack Sinclair. Get Matt's book here: https://amzn.to/3oqmBsv Matt Blumberg is a technology entrepreneur. He spent his entire career creating startups, scaling them, and sharing best practices of what works and what doesn't work for other CEOs and team members in the entrepreneurial community. His innovative email marketing company, Return Path, grew to $100mm in revenues and helped it to a successful exit in a strategic sale to Validity in 2019. Blumberg's company Bolster, an on-demand executive talent marketplace, helps accelerate companies' growth by connecting them with experienced, highly-vetted executives for various roles. It recently conducted a study on Independent Board Members and Board Diversity, which revealed that most early-stage startup boards lack racial and gender diversity as much as boards of more established startups. In this episode, Matt and Jack talked about what is really needed to build a successful startup and maintain a good business to prepare it for scaling up. For those who are thinking of venturing into the world of entrepreneurship and planning to start a company/business, this is for you. STARTUP CXO: A Field Guide to Scaling Up Your Company's Critical Functions and Teams. Matt Blumberg: https://amzn.to/3oqmBsv 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).

4 Okt 202144min

176: Kayvan Kian, Step back to move forward

176: Kayvan Kian, Step back to move forward

Welcome to Strategy Skills episode 176, an episode with a Senior Advisor to McKinsey & Company (Amsterdam), Kayvan Kian. Get Kayvan's book here: https://amzn.to/3kntLLF Kayvan Kian is the founder of the Young Leaders Forum, a program that helps high potential future leaders with the necessary skills, ways of thinking, and insights to become better leaders in a world of constant change. He also has given guest lectures at Harvard Business School, HEC, Sciences Po, and other leading institutions. He believes that we can make this world a better place by sharing hard-fought lessons with each other, that we gained through the most challenging times in our lives. In this episode, Kayvan talked about how to move forward by taking a step back and identifying the things we can control. For those leaders who feel stuck, this is for you. WHAT IS WATER?: How Young Leaders Can Thrive in an Uncertain World. Kayvan Kian: https://amzn.to/3kntLLF 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).

29 Sep 202143min

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