407: If objective function is known, It's not a corporate strategy (Strategy Skills classics)

407: If objective function is known, It's not a corporate strategy (Strategy Skills classics)

For this episode, let's revisit a Strategy Skills classic where we discuss how to identify a corporate strategy.

It is actually very simple to know if a study qualifies as a corporate strategy study. Irrespective of what anyone tells you, if you go into a strategy study where the key question – or what we call an objective function – is known to you, then it is not a corporate strategy.

This is because corporate strategy is not about knowing how to maximize an objective function. It is about choosing the objective function you want to maximize. That is the key difference between corporate strategy and every other kind of strategy.

So, if you are in consulting, in an internal consulting role, or interested in strategy consulting, you should know there is a significant difference between corporate strategy and the other types of strategy analyses like business unit strategy, market entry strategy, etc. And in this podcast, we explain the two requirements that must exist for an engagement to be a corporate strategy study.

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

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367: Are the analyses always the same for a strategy workshop? (Strategy Skills classics)

367: Are the analyses always the same for a strategy workshop? (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills, where we covered a topic about analyses. - Are the analyses always the same for a strategy workshop? In other words, what determines the analyses you should undertake for a strategy workshop? - How does one set objectives for the workshop?  - How many strategy workshops should be completed during an engagement?  - Why are top-down analyses so important?  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

31 Juli 202319min

366: What if the client demands more analyses? (Strategy Skills classics)

366: What if the client demands more analyses? (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills, where we cover a topic about what to do if the client demands more analyses. 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

26 Juli 202323min

365: What happens if the client asks for proof of the strategy? (Strategy Skills classics)

365: What happens if the client asks for proof of the strategy? (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills, where we cover a topic about what happens if the client asks for proof of the strategy. 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

24 Juli 202320min

364: How confident must I be to lead the workshop? (Strategy Skills classics)

364: How confident must I be to lead the workshop? (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills, where we cover a topic about understanding the readiness and level of confidence required to go out there and lead. 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

19 Juli 202322min

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

363: 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. 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

17 Juli 202312min

362: What is a conceptual thinker? (Strategy Skills classics)

362: What is a conceptual thinker? (Strategy Skills classics)

For this episode, let's revisit a Strategy Skills classic where we explain what it means to be a conceptual thinker and how to demonstrate this skill. If you work at any major consulting firm – and especially if you want to be promoted – you must prove you are a conceptual thinker. The only problem is that it is hard to define the word conceptual. In this podcast, we explain a similar problem experienced by a consultant on the Corporate Strategy & Transformation Study and how I helped them improve. The definition also explains why a conceptual thinker is a functional specialist (in strategy, operations, corporate finance, etc.) and almost never a specialist in sectors. 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

12 Juli 202310min

361: Former McKinsey Consultant Darryl Stickel — Building Trust With Consulting Clients, Testing Trust Deficit Within Your Team, Sharpening Trust as a Skill, The Most Effective Levers You Can Pull To Build Trust

361: Former McKinsey Consultant Darryl Stickel — Building Trust With Consulting Clients, Testing Trust Deficit Within Your Team, Sharpening Trust as a Skill, The Most Effective Levers You Can Pull To Build Trust

Welcome to Strategy Skills episode 361, an interview with the author of Building Trust: Exceptional Leadership in an Uncertain World, Darryl Stickel. In his book, Darryl outlines his groundbreaking Trust Unlimited blueprint for building trust. Stickel moves away from the traditional approach of influencing people's willingness to trust—the con artist's tactic—to employing one or more of ten levers, which leaders can "pull" to close the gap between how much they are trusted and how much they should be. This approach also makes them more trustable and increases trust where it is deficient. Darryl Stickel is one of the world's leading experts on trust with over twenty years of experience. His Ph.D. ¨Building Trust in Hostile Environments¨ from Duke University established him as a global leader for governments, businesses and NGOs on practical approaches to building trust. Darryl has worked for Mckinsey & Company in their Toronto office, as well as advised the Canadian Military on trust building in Afghanistan. He has served as faculty for the Luxembourg School of Business and the Center for Effective Organizations at the University of Southern California and recently completed his book Building Trust: Exceptional Leadership in an Uncertain World. His contribution to the field of trust has been recognized by his nomination to the Top Thought Leaders on Trust by Trust Across America; Trust Around the World. Get Darryl's book here: https://rb.gy/3boas Building Trust: Exceptional Leadership in an Uncertain World, Darryl Stickel 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

10 Juli 202352min

361: Why you should read Bill Matassoni's memoir (Strategy Skills classics)

361: Why you should read Bill Matassoni's memoir (Strategy Skills classics)

For this episode, let's revisit one of the classics by Strategy Skills where we discuss why everyone should read Bill Matassoni's book, MARKETING SAVES THE WORLD. Every now and then, someone comes along and makes the subject of management both fun and insightful. That's what Bill Matassoni has done in his memoir—a combination of compelling stories and contrarian substance—that covers his forty-year career selling what he calls "ephemeral things." In addition to the memoir, Bill plays host to a series of videos that are entertaining, irreverent, and filled with his conviction that marketing is the primary driver of progress in both commercial and social markets. MARKETING SAVES THE WORLD: Stories Why Capitalism Works. Bill Matassoni https://rb.gy/2gjss Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

5 Juli 202318min

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