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How To Make Your Strategy Work: Why 90% Of Strategies Fail And What You Can Do About It
Marketing forklore has it that years ago a new manager took over Parker Pens. His first action was to assemble the management board and ask them a very simple question: who is our major competitor? One by one the board members began to educate the boss with what they thought the answer was. One answered Shaeffer, since Schaeffer was in the ball pen business as they were. The boss shook his head, it was not Schaeffer. Shaeffer produced a pen very similar to the Parker. It had a good reputation for quality, had a similar stylish finish and quite expensive like Parker. The boss explained that although they compete to an extent with Shaeffer, they were not their main competitor. Read more>>

Making Tough Decisions
Executives many times have to make tough decisions to keep the business on track. Its just the way the job is. But the toughest of decisions comes in the gray areas. These are cases where you and your team mine all the data you can, and do all the analysis you can yet the situation seems inconclusive. Under such circumstances its easy to become paralyzed and seek any available route. But it is your responsibility as a leader to judge the situation fairly and take the right decision. Read more>>

The Worst Strategic Error In Business
Business leaders generally agree on the need for strategy. No business can survive without one because no matter how turbulent and intensively competitive an industry might be, the firm with the right strategies will always have superior results. Performing on top of the market requires a firm grip on strategy. Sadly most executives are confused about strategy. They don't know what it is. As I travel and interact with executives, I find one passion burning in the heart of many of them. I've seen them express it with intense passion, I've watched them blame everything from the government policies to climatic conditions to anything conceivable as being the limiting factor behind their inability to reach this goal. What is the goal? The drive to be the best company or business in their industry. Read more>>

The One Language Company
Activity based approach to strategy demostrates that everyone in the organization is a part of strategy - Michael E Porter
A study done by Maracon indicated that less than 20% of well-formulated strategies are executed successfully and, on average, firms deliver only 50% of the financial performance their strategies promise. If a well formulated strategy is not executed how can an organization expect superior performance? A similar study carried out by Effectory with over 300,000 responses worldwide gives us an idea to what the problem might be. Less than 50% of employees say they understand their firm’s strategy. In another study conducted by McKinsey only 34% of 772 directors believed their boards understood their strategy. Now no matter how good employees maybe one thing to understand is that they are not mind readers. A strategy not understood can in no way be executed effectively. Also if the board does not understand the strategy how can they provide the necessary support needed for a successful execution of the strategy? Read more>>


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