The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving

For this episode, let's revisit the 47th podcast on the Corporate Strategy & Transformation study. As I mentioned in previous posts, the reason we spend so much time on visioning workshop is because if you ever take a senior role in strategy in any company, or if you ever serve as a corporate strategy consultant, running a visioning workshop or corporate strategy workshop, in general, is the skill you must have. And scenario planning is something used extensively in visioning workshops. In this podcast and related article, we discuss what is scenario planning and how to run a scenario planning session during a visioning workshop as part of a consulting engagement. There is also a very elegant way to combine corporate finance and corporate strategy to help companies develop effective strategies under extreme uncertainty. 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

13 Juli 202214min

For this episode, let's revisit the 42nd podcast on the Corporate Strategy & Transformation study. What I noticed on this, and other studies is that the associates and business analysts are very competitive, in a way that is damaging to clients, to the firm and to their own careers. I am fine with consultants being competitive but I think they go about it the wrong way. You can be competitive and work long hours but you should not seem to be competitive when you are working long hours. I am not saying don't work long hours. Yet, don't make it sound like you are competitive and that is why you are working long hours. Cause and effect matters. If you work hard to be competitive, people see you as someone who is working hard only because you want to get promoted and only because you want to stand out from everyone else. These consultants tend to be so obsessed with telling people how committed they are that they are moving away from the objective of getting the right work done. No one likes someone who is competitive for the sake of being competitive. Because this is just wasted energy. If you are being competitive for the sake of being competitive, versus focusing on the client and working hard to solve a problem resulting in the by-product of you being competitive, you are basically just wasting valuable time that you could use much more productively. If people just think you are competing with them they don't want to help you, they don't want to work with you. Yet, if they see you as someone who is like them but for whatever reason needs to work harder because the client needs it they tend to like you more. They tend to relate to you better. And that dynamic becomes good for your career. In this podcast, we discuss in detail how to go about being competitive on consulting projects while projecting the proper image and maintaining the right mindset to deliver the best value for the client and the firm. 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

11 Juli 202214min

For this episode, let's revisit a Strategy Skills classic where we will talk about general professional values or etiquette that consultants should apply during an engagement. We specifically discuss things that consultants sometimes do on studies that may alienate the client. And rather than talking about every single thing you need to avoid, we will talk about some principles. And these principles apply across every issue. We also discuss how to address a situation where a consultant’s behavior is incompatible with the firm’s professional values. 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

6 Juli 202216min

Welcome to Strategy Skills episode 256, an episode with an expert in business law and business ethics, J.S. Nelson. Get J.S’s book here: https://amzn.to/3ny1z9B Managing business ethics has always been a challenge for many organizations. As unethical business conduct rises, the struggle of implementing ethics and compliance programs in organizations also increases. Business ethics can make or break your business or career. But it can be used as a competitive advantage if managed correctly and can build the most valuable asset: your reputation. The key is to articulate your organization's values – defining who you are, what you stand for, and extending it toward every inch of your organization. It’s very important for management to cultivate a culture of openness, where people feel safe to speak up and where ethical misconduct is not tolerated. As J.S. mentioned in this episode, “the way to get the behavior that you want is to intervene early and often.” In this episode, J.S speaks about the value of business ethics, the major schools of philosophical ethical thought, and how understanding it can help people become better at being ethical. She discusses the ways an organization can cultivate ethical behavior and how to get away from situations involving ethical traps in the modern business world.  Nelson is an expert in business law and business ethics. She is a visiting professor at Harvard Business School. Nelson was the first tenure-track appointment in a U.S. law school, specifically to teach business ethics and to develop law-school curricula around the subject. Nelson has spent nearly fifteen years teaching at top universities across the country, including Villanova Law School, the Stanford Graduate School of Business, Haas Business School of the University of California at Berkeley, Drucker School at Claremont Graduate University, and the Mihaylo School at Cal State Fullerton. Prior to her work in academia, Professor Nelson served as staff counsel for the U.S. Court of Appeals for the Tenth Circuit, and she clerked for the Honorable David M. Ebel of the U.S. Court of Appeals for the Tenth Circuit and the Honorable William H. Yohn Jr. of the U.S. District Court for the Eastern District of Pennsylvania. She also worked as a deputy district attorney and as a business litigator in Denver, Colorado. Nelson graduated from Harvard Law School, where she was the Supreme Court Co-Chair of the Harvard Law Review. She earned a Bachelor of Arts in Political Science with honors and distinction in the major from Yale. Get J.S’s book here: Business Ethics: What Everyone Needs to Know, J.S. Nelson & Lynn A. Stout: https://amzn.to/3ny1z9B Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

4 Juli 20221h 21min

Welcome to Strategy Skills episode 255, an episode with the CEO and managing partner at Velocity Group, Edward Sullivan. Get Edward’s book here: https://amzn.to/3HT2Hy4 In this episode, Edward discussed the best practices that leaders and companies do to address mental health issues and the real cause of the great resignation. He spoke about the gravity of work-life balance, care, and understanding as part of an employee retention strategy.  For decades, we have avoided discussing the topic of mental health around the workplace. It was considered a weakness and could greatly derail one’s career. We operated under the assumption of manifesting the “executive presence,” which covertly added up to pressure and stress on the employees.  As companies have responded to the challenges brought by Covid in recent years, they are learning to consider mental health as a common issue in the workplace and taking employees’ well-being in a serious manner. The great resignation caused a stir in how companies view and treat their employees. As Edward mentioned in this episode, “employees are not leaving in the great resignation because of company benefits, they are fleeing from toxic work cultures.” Edward Sullivan holds an MBA from the Wharton School and an MPA from the Harvard Kennedy School. His 25-year career as an executive coach and political consultant has taken him around the globe coaching and advising start-up founders, Fortune 500 executives, and heads of state of foreign nations. His work has been featured in the New York Times, The Washington Post, Forbes, Fast Company, USA Today, and Nasdaq, among others. Get Edward’s book here: Leading with Heart: 5 Conversations That Unlock Creativity, Purpose, and Results, Edward Sullivan and John Baird: https://amzn.to/3HT2Hy4 Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

29 Juni 202241min

Welcome to Strategy Skills episode 254, an episode with the Founder and visionary Managing Director of Bandelli & Associates, Dr. Adam C. Bandelli. Get Adam’s book here: https://amzn.to/3nhGgsC “It is very important for leaders to not only surround themselves with great talent but build really strong partnerships with their people.” - Adam Bandelli In this episode, Adam speaks about how reliance on technology has kept people technologically connected but has prevented them from building genuine and sustainable relationships. Covid has exacerbated this problem, especially when organizations started hybrid work models. In order to improve the level of connectivity and build strong long-lasting personal and professional relationships, Adam laid out the five key skills that make up relational intelligence: Establishing Rapport, Understanding Others, Embracing Individual Differences, Developing Trust, and Cultivating Influence. Dr. Adam C. Bandelli has 20 years of management and leadership advisory consulting experience in the firm’s service offerings, including board consultation, senior executive selection, leadership development, CEO succession, organizational culture, and transformational change. Adam is an expert on communication, relational intelligence, and leadership effectiveness having worked with CEOs and senior executives to strengthen their abilities to inspire and influence their people, teams, and organizations. The mission of his firm is to help leaders identify, unlock, and unleash their true potential. Adam has worked with executives around the world in organizations ranging from small start-up firms through global Fortune 100 companies.  Prior to founding Bandelli & Associates, Adam was a Partner at Korn Ferry, where he led the Private Equity assessment practice for North America. Earlier in his career, he was a Partner at RHR International, where he served as one of the firm’s leaders on Board and CEO Succession, High Potential Development, Senior Team Effectiveness, and Executive Assessments. Adam is the author of the books Relational Intelligence: The Five Essential Skills You Need to Build Life-Changing Relationships, and What Every Leader Needs: The Ten Universal and Indisputable Competencies of Leadership Effectiveness, which have received strong reviews from prominent business leaders.  Adam received his Ph.D. and master’s degrees from the University of South Florida in Industrial-Organizational Psychology, and a bachelor’s degree concentrating in Psychology and Business Management from Fairleigh Dickinson University. Acknowledged as an expert on leadership, relational intelligence, and organizational culture, he is a frequent speaker at business and professional meetings including the Society of Consulting Psychology and the Society of Industrial-Organizational Psychology.  Relational Intelligence: The Five Essential Skills You Need to Build Life-Changing Relationships. Dr. Adam C. Bandelli: https://amzn.to/3nhGgsC Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

27 Juni 202240min

Welcome to Strategy Skills episode 253, an episode with Emeritus Professor at UCLA Anderson, Richard Rumelt. Get Richard’s book here: https://amzn.to/3OrNfuK In this episode, Richard iterated the real meaning of strategy, which many companies today confuse with a list of their goals and ambitions. Strategy is problem-solving – a clever way of dealing with a challenge, opponent, or problem. It also involves selecting which battle you fight because you cannot fight them all. As a great strategist, you need to select battles that you can win.  Richard also explained the crux or the biggest challenge that companies need to identify, emphasize, and concentrate their resources on until it is fixed or solved. As Richard mentioned in this episode, “the primary thing about strategy is that it is about a concentration of resources. It is about focus.” Richard Rumelt received his doctorate from the Harvard Business School in 1972, having previously earned a Master of Science in electrical engineering from UC Berkeley. He worked as a systems engineer at the Jet Propulsion Laboratories and served on the faculty of the Harvard Business School. He joined the UCLA faculty in 1976. He also served as a faculty at INSEAD, France for three years. At INSEAD, Rumelt headed the Corporate Renewal Initiative, a research-intervention center devoted to the study and practice of corporate transformation. Rumelt was president of the Strategic Management Society from 1995 to 1998. He received the Irwin Prize for his book Strategy, Structure, and Economic Performance. In 1997, he was appointed Telecom Italia Strategy Fellow, a position he held until April 2000. He has won teaching awards at UCLA and received a best paper prize in 1997 from the Strategic Management Journal. Get Richard’s book here: The Crux: How Leaders Become Strategists, Richard Rumelt: https://amzn.to/3OrNfuK Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

22 Juni 20221h

Welcome to Strategy Skills episode 252, an episode with a thought leader and global expert on infectious diseases and vaccine safety, Jan Bonhoeffer M.D. Get Jan’s book here: https://amzn.to/3y2x4hZ In this episode, Jan spoke about his medical career journey, working with different interesting organizations, and how he realized there was a missing piece: care. He spoke about how we often become so focused on solving a problem that we forget to give attention to what we care about – what gives us joy and fulfillment. In any business or profession, the key is to serve a much bigger purpose, taking your identity into account. As Michael mentioned in this conversation, “True leadership is about understanding who you are.” Leading with empathy requires understanding who you are to resonate and connect with the people you interact with. Bonhoeffer serves as professor of pediatrics, infectious diseases, and vaccines at the University of Basel Children’s Hospital, Switzerland. As a former consultant with the World Health Organization and the Centers for Disease Control, he co-authored more than 120 peer-reviewed articles in medical journals and led epidemiological pediatric infectious disease and vaccine studies, including international research consortia. For 18 years, he led the Brighton Collaboration, a global leader in not-for-profit vaccine safety research setting research standards, conducting large internationally collaborative research, and investigating vaccine safety concerns. He was a Strategic Advisory Group Member of the WHO Global Vaccine Safety Initiative (GVSI) implementing the vaccine safety strategy of the Global Vaccine Action Plan. Bonhoeffer graduated from the University of Basel Medical School, Switzerland, and worked in the U.S., the UK, India, and Switzerland. In 2015, he underwent a significant shift in the way that he thought about medicine. He realized that most of the significant moments in his work as a doctor happened when he wasn’t simply executing what he learned in medical school, but when he was participating in a healing event with the patient. He realized that central to this is the quality of the interaction between the health care provider and the patient. It is in this space that innovation, healing, and creativity happens, but he realized that almost everything he had learned in medical school had taught him to skip over what happens in this space. This realization prompted Bonhoeffer to start Heart-Based Medicine, a global network of health care professionals and patients exploring the natural healing potential of the health care provider and the patient, and to co-create his new book Dare to Care. His mission is to inspire medical professionals to reclaim empathy and compassion as primary facets of healing to overcome the disillusion and burnout they often encounter in today’s mechanized medical culture. Bonhoeffer is married to Jessica Templeton-Bonhoeffer, a developmental pediatrician and co-founder of Youkidoc Kindergesundheit, a heart-based medical center for children and their families in Basel, Switzerland. They have three children. Dare to Care: How to Survive and Thrive in Today's Medical World. Jan Bonhoeffer M.D.: https://amzn.to/3y2x4hZ Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

20 Juni 20221h