• The balanced scorecard approach at the grass-roots level

Download PDF (slide deck)

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I meet you at a local networking event and you introduce yourself.

“Hi, I’m Bob Jones with ABC Company.”

“Hi Bob. Nice to meet you. Tell me a little about your company. What is your company best at?”

…29,30. Time’s up!

Could you answer my question in less than 30 seconds, succinctly and with clarity?  If yes, good job.  If not, don’t worry, you’re in good company.  Honestly, this question is hard to answer; a majority of businesses are also trying to figure out what they do best.  Try to narrow your focus more than you’re comfortable with.  In time, you should be able to share your competitive advantage with confidence and shout it from the rooftops.

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1. Strategy Stat: Many Firms Lack List of Strategic Priorities
2. Topic: What is Strategy?

• What is the difference between strategy and tactics?
• What are the different types and levels of “strategies” that exist in organizations?
• What is strategy and how is it articulated in a strategic plan?
• Checklist to assess your plan

Download PDF (slide deck)

Other resources shared during a Q/A section of the live presentation, but not included in the recording:

• Harvard Business Review article – Blue Ocean
• Harvard Business Review article – Is It Worth Doing?
• www.IBISworld.com

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Innovation Strategies: Part 1 – Technology and Business Innovation is presented by expert strategists Erica Olsen and Howard Olsen of M3 Planning. This part of the series looks into how the current economic times are making organizations look at how they can stay ahead in technology and changes in the business world while staying fiscally viable. Instead of making cuts across the board to save money quickly, organizations need to balance out what is happening now with where they want to be in the future.

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Innovation Strategies: Part 2 – Product and Services Innovation is presented by expert strategists Erica Olsen and Howard Olsen of M3 Planning. This part of the series looks into how the current economic times are making organizations look at their products and services trying to find ways to cut back. Instead organizations need to be looking at how they can provide the right products and services that their customers need. Many people have changed their focus as the economic downturn continues to effect everyone.

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• Innovation Strategies: Part 1 – Technology and Business Innovation (10 mins) This is part of a 3 part series from our...
• Innovation Strategies: Part 3 – Business Model and Behavioral Innovations (30 mins) This is part of a 3 part series covered in...
• Innovation Strategies: Looking at different types, applying the best innovation strategy to your org (60 mins) Watch a recorded video of the latest Strategy Huddle and...

Innovation Strategies: Part 3 – Business Model and Behavioral Strategies presented by expert strategists Erica Olsen and Howard Olsen. This part of the series is a deep dive into how innovation needs to be a part of your business model and how looking at behavioral innovations can help your organization grow during this economic downturn.

You may also be interested in:

• Innovation Strategies: Part 2 – Product and Service Innovation (10 mins) This is part of a 3 part series from our...
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1. Strategy Stat: 87
2. Topic/Question: Competitive Advantages – How do you determine your competitive advantages in today’s environment?
3. Topic/Question: People Accountability – How do I drive accountability throughout the organization?
4. Topic/Question: Visiting Strategy Leader – Morton Glassberg – continuing the focus on accountability

Download PDF Presentation

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• What is a Competitive Advantage & How To Determine it in Today’s Environment (15 mins) This is part of our Strategy Huddle Series from March...
• Planning Meeting Confusion, Driving Strategy, & Risk Management (60 mins) Watch a recorded video of the latest Strategy Huddle and...
• How to drive accountability throughout the organization (15 mins) This is part of our Strategy Huddle series from May...

What is a competitive advantage? How do you determine your competitive advantages in today’s environment?

You may also be interested in:

• Determining your Competitive Advantage & Driving Accountability (60 mins) Watch a recorded video of the latest Strategy Huddle and...
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Editor’s Note: Our last strategy check included this quote, which generated so much positive feedback, we decided to dedicate a whole newsletter to it.

Processes when performed correctly create a rhythmic routine, and for very large organizations having everyone march to the same beat is a real accomplishment… except when the very road you walk on goes from a cobblestone path to a jet-way tarmac.

In a recent talk, the Boy Scouts of America’s VP of Operations Gary Butler highlighted how easy it is to mistake action for outcomes and in doing so he illustrated Churchill’s point in a real word example. For over 100 years, the Boy Scouts of America has been perfecting the processes that deliver programs and services to youth worldwide. An overall unintended outcome, however, has been a decline in membership levels. “We did not connect processes to the results, in fact, we valued process over results.” Butler states.

Intensive reviews by this stalwart organization have initiated a fundamental shift in the way BSA sets its strategic direction and processes to solve the issues that have been eroding its membership base. They have created key performance measurements to be monitored in the pursuit of membership retention and growth now fall within six key departments: Marketing, Governance, Programs and Services, Financing, Talent Management (Volunteers), and Administrative Services. Sourcing data reports from these areas, new processes have been designed to be simple to duplicate and repeat, but most importantly flexible to react to each Councils’ real opportunities or threats – and emphasizing what instead of the how.

Old Emphasis – “The How” Fully-engaged Boards Strategic Implementation Fiscally-Sound Councils

New Emphasis – “The What” Fully-Trained Boards Creating a Strategic Plan Fundraising Campaigns

Soon real-time information on the market (inputs) and performance measures (outputs) will be integrated into the “New” BSA strategic management tools. All functional areas and geographic locations will be able to drive their results, from the national to troop level. All the while, the overall goal stays embedded and crystal clear: Grow Membership and Impact Youth’s Lives.

As such, make the mission of the Boy Scouts of America, “To prepare young people to make ethical and moral choices over their lifetimes by instilling in them the values of the Scout Oath and Law” viable for the next 100 years.

Not to be underestimated, this organizational change is an uphill battle, requiring well-entrenched mindsets to be shifted and re-focused. As the BSA is one of our client’s, we’ll be bringing you periodic updates as this massive change begins to transform an American icon.

STRATEGY CHECK: Take a peek at your 2010 strategy to ensure the outcomes you are seeking are clear and focused on intentional, purposeful results.

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Reno, NV (PRWEB) October 2, 2009 – With little end of the US recession in sight, business owners across all industries are finding less time for  performance management and strategic management and instead focusing on short term survival, calling into question the relevance of strategic planning in an anemic economy. According to management experts, this illogical behavior will not only cause businesses to miss out on opportunities, it undermines the very livelihood they are attempting to maintain through such short term tactics.

During the earlier days of the current US economic crisis, economists and financial pundits debated about whether the country was indeed heading towards a recession, and how long that any such slump would last. Some predicted that the country would not, in fact, suffer such a succession of negative quarters, and that businesses and individuals needed not worry about surviving months or even years of economic hardship. Others on the other end of the spectrum called for businesses to tighten belts, make hard decisions and prepare for the worst.

Now that the country has spent more than a year enduring layoffs, government bailouts and the havoc that has been wrecked upon the credit market, many forecasters predict an even longer financial winter is upon us. In light of this, many businesses are forgoing long-term thinking and planning, and instead focusing just on today. Is survival the new goal for business, or does strategic planning still hold the same importance that it did before famine set itself upon the US markets?

I’m Too Busy

When consumers are not spending and money is tight, competition is increased, while at the same time additional staff is a luxury many businesses can’t afford. This effect, which causes many managers to spread themselves and their staff thin, endangers their long-term goals, says management expert Erica Olsen, of M3 Planning, consultants and developers of the strategic planning and implementation application, MyStrategicPlan.com. “A lot of managers are complaining that they don’t have time to plan,” says Olsen, “but the reality is that you can’t afford not to take the time to plan.”

According to Olsen, strategic planning is even more of a necessity during a time of economic famine than during times of feasting. “Inefficiencies can go unnoticed when demand is high, but when your industry is fighting over fewer customers who are spending less, all of your imperfections become more threatening to your business.” Olsen goes on to explain that through thorough environmental scanning- an essential part of the strategic planning process, threats and opportunities can not only be identified but also capitalized on.

We Might Not Be Around In Six Months

Just making it this far through the recession doesn’t guarantee success, as many businesses are continuing to file for bankruptcy or quit operations completely. With so many stories of failure, Olsen says that many business owners she has counseled have admitted feeling like giving up. “When faced with a manger who says they don’t want to plan because they don’t think the company will make it, I respond saying that’s not the thinking that got you where you are. ” Olsen says that while these feelings are natural, they aren’t necessarily productive. By attacking the problem and making plans to dig out of the hole, managers can regain their positive outlook and chip away at the stress and depression that navigating a company through a recession can bring. “Strategic planning, and even more specifically recession planning is exactly what someone in this situation needs because they finally see the light at the end of the tunnel.”

There is No Telling When this May End

Protesting the idea of strategic planning, other managers will claim that the uncertainty of the recession negates strategic planning. In response to this, Olsen cites the benefits of strategic planning and recession planning and their application to uncertain times. “Turbulent times are exactly the reason to plan,” says Olsen, “because strategic planning allows faster decision making, better management of resources, and a flexible framework that can adjust far faster than your completion can draft a course of action.” Right now, according to Olsen, both strategic planning and more specifically recession planning are of the essence. For assistance in strategic or recession planning, Olsen advises organization to consider M3 Planning’s web application and resource center at www.mystrategicplan.com.

About MyStrategicPlan

MyStrategicPlan is an easy-to-use software application that enables any organization, regardless of size and budget, to build a comprehensive plan, effectively and easily track goals, create professional reports for every stakeholder and monitor implementation all year long.

About M3 Planning

M3 Planning is a strategic planning firm that works with growth-oriented organizations to develop and execute their strategic plans. In addition to their online strategic planning system, the company is also a resource for other strategic planning tools, books, articles, workshops and facilitations.

About Erica Olsen

Through M3 Planning’s online client base and onsite strategic planning facilitation work, Erica Olsen has developed and reviewed hundreds of strategic plans for organizations across the country. She has also authored several strategic planning books including Strategic Planning for Dummies and was named Entrepreneur of the Year by The Business Report of Northern Nevada in 2007.

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