434: Conditions for great PowerPoint slides (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. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

8 Juni 202213min

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

6 Juni 202210min

For this episode, let's revisit a Strategy Skills classic where we discuss how to communicate recommendations that are radical in nature. If the recommendations are presented too early, they are hypotheses with little data backing them and they can be easily challenged. If the recommendations are presented at the end, it shocks the client and there likely will be little agreement from the client. The solution is to present early but to present them as hypotheses. That seems easy, but this podcast explains the communication mistakes that occur when most consultants present complex hypotheses very early, and how to fix them. You will learn that communication, your choice of words, and the way you emphasize them can dramatically alter the way the client interprets what you are saying. In fact, the emphasis will radically alter the meaning. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

1 Juni 202214min

For this episode, let's revisit one of Strategy Skills classics where we spoke about the approach and philosophy used by the study leadership team in a power sector corporate strategy study as they guide and mentor corporate leaders at the client. We discuss the four pillars on which our leadership philosophy is built and use practical examples to demonstrate how we help clients adopt these principles. The four pillars are: Sincere authenticity matters. Embrace – don't hide – leadership flaws. Forget about image. Focus on results. This approach is about helping corporate leaders be successful in the short term. If you would like to learn more about this leadership work, please read this article. Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

30 Maj 202218min

For this episode, let's revisit one of Strategy Skills classics where we discuss something that affects every consultant in the world: the issue of confidence – or even arrogance – and its role in getting results on a consulting engagement. We discuss the role that confidence plays in your career and look at what actually creates a competitive advantage in your career. We also look at an example that showcases the limited value of confidence in a consulting engagement.  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

25 Maj 202217min

Welcome to Strategy Skills episode 244, an interview with globally recognized academic thought-leader on digital transformation and innovation management, Satish Nambisan. Get Satish's book here: https://amzn.to/3QpWQE3 In this episode, Satish spoke about real-world examples of companies that use digital technology as their unique competency to move and globalize faster. He defined "globalization" and "digital" in a broader perspective, and elaborated on their role in a company to thrive through an emotional connection with customers. Satish also explained the idea of tight and loose coupling and how it allows companies to continuously adapt to disturbances that happen in different parts of the world without reinventing the business model, processes, or operations. Satish Nambisan, Ph.D. is the Nancy and Joseph Keithley Professor of Technology Management at the Weatherhead School of Management, Case Western Reserve University. His current work focuses on how digital technologies, platforms, and ecosystems shape innovation, entrepreneurship, and international business. His publications have appeared in journals such as Harvard Business Review, MIT Sloan Management Review, Management Science, Journal of International Business Studies, Organization Science, Academy of Management Review, and Stanford Social Innovation Review. He is the co-author of The Global Brain: Your Roadmap for Innovating Faster and Smarter in a Networked World (Wharton School Publishing). His latest book is The Digital Multinational: Navigating the New Normal in Global Business (MIT Press, 2022). Get Satish's book here: The Digital Multinational: Navigating the New Normal in Global Business (Management on the Cutting Edge). Satish Nambisan & Yadong Luo: https://amzn.to/3QpWQE3 Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

23 Maj 202255min

Welcome to Strategy Skills episode 243, an interview with a business coach and change leadership expert, Richard Hawkes. Get Richard's book here: https://amzn.to/3Oe5ljU In this session, Richard shared his experiences with building a consultancy, working shoulder to shoulder with leaders and teams to grow and scale all kinds of companies – in the US and in countries all over the world, but especially in Germany. He shared a little bit about how his worldview has changed throughout his journey from thinking of companies in a fragmented way – with different kinds of views, cultures, leadership, strategies, and processes – to thinking in an integrated way. He laid out a powerful framework that any team can apply to overcome the most common leadership challenges. Richard S. Hawkes is the author of Navigate the Swirl and the CEO and Founder of Growth River, an international consultancy that guides leaders and teams to create higher performance in businesses and organizations. Hawkes helps companies identify and resolve constraints to success. Clients include Edward Jones, GENEWIZ, Hitachi, Pfizer, Johnson & Johnson, and Mars. Hawkes received a B.A. in Computer Science and German Literature from Hamilton College and an M.B.A. in Marketing and Organizational Development from the University of Wisconsin-Madison. Get Richard's book here: Navigate the Swirl: 7 Crucial Conversations for Business Transformation. Richard S. Hawkes: https://amzn.to/3Oe5ljU Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

18 Maj 20221h 21min

Welcome to Strategy Skills episode 242, an interview with the CEO of YSC Consulting, Eric Pliner. Get Eric's book here: https://amzn.to/3HpM1hf In this video, Eric shared his career journey, experience with adjusting to consulting, and how to become a successful consultant while maintaining a healthy life balance. He discussed the reasons why his company survived and thrived during the pandemic. As a CEO, he spoke about the top things that he looks for when promoting an employee and the red flags that employees must be aware of to avoid or eliminate. Eric shared the realizations that made him a stronger leader over the course of his journey to the top of his company. He emphasized the importance of constant learning and listening to other people, and that as a leader, you have to get over the idea that your job is to make everyone happy. You will disappoint people down the road, but how you handle that disappointment will make the difference between being a long-term leader or a short-term leader. Eric shared his advice on how to better make difficult decisions and how to build confidence when facing challenging decision-making situations. For more than twenty-five years, Eric Pliner has been a recognized leader in the fields of leadership development, organizational culture, education and training, and strategic diversity and inclusion. He is Chief Executive Officer of YSC Consulting, a global leadership strategy consultancy headquartered in London. Eric's writing on leadership has been featured in Harvard Business Review, Fortune, Forbes, Fast Company, and a host of other business and industry publications. He is a Board Director with Hip Hop Public Health, a member of the Dramatists' Guild of America, and an author/co-author of a wide variety of published academic, creative, and professional works, including award-winning case studies on leadership; the U.S. National Standards for Health Education; and an off-Broadway theatrical parody of television cartoons for adults (with Amy Rhodes). He lives in Brooklyn, New York. Get Eric's book here: Difficult Decisions: How Leaders Make the Right Call with Insight, Integrity, and Empathy. Eric Pliner: https://amzn.to/3HpM1hf Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

16 Maj 20221h 9min