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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118: How to build a pandemic strategy (Monday Morning 8 a.m. #3)

118: How to build a pandemic strategy (Monday Morning 8 a.m. #3)

Hello, everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this week’s newsletter, we’re going to focus on one overarching theme—risk—and you’ll see that theme running through all of the big stories this week. So let's see how this new Monday Morning 8 a.m. format goes. Every week we will look at 3-4 themes, or one theme and 3-4 subthemes. What are the big stories and what are the big implications. Let us know if you like or dislike the style. If you're enjoying the Monday Morning 8 a.m., I'd love it if you shared it with a friend or two. You can send them here to sign up. We try to make it one of the best emails/podcasts you get each week, and we hope you're enjoying it. Get written version of Monday Morning 8 a.m. with links to articles we mention: www.firmsconsulting.com/promo

9 Nov 202022min

117: Interview with the former CEO of Dunkin' Donuts, Robert Rosenberg

117: Interview with the former CEO of Dunkin' Donuts, Robert Rosenberg

Robert Rosenberg served as chief executive officer of Dunkin’ Donuts from 1963 until his retirement in 1998. For over 35 years! Under Robert's leadership, Dunkin’ Donuts grew from a regional family business to one of America’s best known and loved brands. Robert received his MBA from Harvard Business School, and just weeks after graduating at the age of 25, he assumed the position of chief executive officer. Upon his retirement, Rosenberg had grown the Dunkin’ Donuts chain to over 4,000 stores worldwide with annual system-wide sales in excess of $2 billion. In his book, Around The Corner To Around The World: A Dozen Lessons I Learned Running Dunkin’ Donuts, Robert shares many of the stories behind this historic company and actionable business advice. Checkout out our newsletter "Monday Morning 8 a.m."

6 Nov 20201h 2min

116: What is Netflix’s real strategy? (Monday Morning 8 a.m. #2)

116: What is Netflix’s real strategy? (Monday Morning 8 a.m. #2)

Hi, everyone. This is Monday Morning 8 a.m., a newsletter that goes out—as you guessed it—every Monday. You can listen to the audio version of this Monday Morning 8 a.m. episode by searching “Strategy Skills” in any podcast app! If you want to receive a written version of this podcast, with links to mentioned articles, you can sign up for it on www.firmsconsulting.com/promo   In this newsletter, we have one goal: to help you distill the insights from the noise out there. So here are the big themes we’re noticing in the news this week and the deep insights you should be extracting from those themes.

2 Nov 202032min

115: Tech, pandemics, growth, valuation (Monday Morning 8 a.m. #1)

115: Tech, pandemics, growth, valuation (Monday Morning 8 a.m. #1)

Hi, everyone. This is Monday Morning 8 a.m., a newsletter that goes out—as you guessed it—every Monday. You can listen to the audio version of this Monday Morning 8 a.m. episode by searching “Strategy Skills” in any podcast app or sign up for a written version here!    In this program, we have one goal: to help you distill the insights from the noise out there. So here are the big themes we’re noticing in the news this week and some of the deep insights you should be extracting from those themes.   www.firmsconsulting.com/promo

26 Okt 202021min

114: Design thinking. With IBM Director, Damon Deaner

114: Design thinking. With IBM Director, Damon Deaner

Damon Deaner is a director at IBM. In this interview, we focus on design thinking.  Get sample training episodes from our advanced strategy training programs: www.firmsconsulting.com/promo

14 Okt 20201h 2min

113: Interview with McKinsey senior partner, Aaron De Smet (Houston office)

113: Interview with McKinsey senior partner, Aaron De Smet (Houston office)

Welcome to episode 113 of the Strategy Skills podcast. An interview with McKinsey senior partner, Aaron de Smet (Houston office). Aaron counsels leadership teams as they transform their organizations to improve performance, organizational health, speed, and agility. He is also an expert on organizational design, corporate culture, leadership development, team effectiveness, capability building, and transformational change. Get sample training episodes from our advanced strategy training programs: www.firmsconsulting.com/promo

23 Sep 202055min

112: IBM Vice President & Senior Partner, North American Talent & Transformation Leader, Victoria Pelletier

112: IBM Vice President & Senior Partner, North American Talent & Transformation Leader, Victoria Pelletier

Let us introduce you to a recognized expert in Leadership, Diversity & Inclusion, HR/Talent, career change and growth. Victoria Pelletier is an IBM Vice President & Senior Partner, North American Talent & Transformation Leader. She is one of those rare, impactful speakers who you hear once, and remember. She brings her authenticity, her passion, and her smarts, in a way that connects, resonates, and moves the audience. She is recognized across North America as a dynamic, captivating keynote speaker, published author and dynamic executive.  Her own story of overcoming unspeakable odds to live a life of no excuses is both moving, and incredibly inspiring. Victoria is a recognized leader in her industry, having won multiple awards, including the 2019 HSBC Diversity & Inclusion in Finance & technology Award and most recently, the 2020 Mentor of the Year from the Canadian Women in Communications & Technology organization. She has been featured in many podcasts, conferences and events, including Generation Now (Gary Vaynerchuk as Keynote), Fearless Women Podcast, Canada's Podcast, CBC National Television - Weekend Business Panel, Women Talk Tech, multiple IBM and other technology conferences and many more.

25 Aug 20201h 13min

111: Interview with Airbnb Chief Ethics Officer Rob Chesnut

111: Interview with Airbnb Chief Ethics Officer Rob Chesnut

An interview with Rob Chesnut, Chief Ethics Officer at Airbnb, about his new book INTENTIONAL INTEGRITY: How Smart Companies Can Lead an Ethical Revolution. Buy Rob's book: https://amzn.to/30twtVQ (paid link) Most companies think they have integrity… until they get boycotted, protested and skewered in the press. They’ll punish and apologize for lapses but have no clue about prevention. In an interview, Rob discusses how creating a culture of integrity can clarify and energize employees to act on their values and lead. Rob is a former Federal Prosecutor who prosecuted spy Aldrich Ames, he went on to found the Trust and Safety Department for eBay and the integrity training program for Airbnb: two companies with business models dependent on trust that had to invent the rules in the new frontiers of e-commerce and platforms.  Get sample episodes from our advanced training programs: http://www.firmsconsulting.com/promo

5 Aug 202055min

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