Two essential elements of a sound plan are assumptions (predictions about issues that are likely to impact our business) and contingencies (what we plan to do if unforeseen disruptions require a change of direction). The benefit of creating and documenting planning...
One of the questions I often post to members of senior leadership teams during strategy sessions is this: “If your organization went out of business today, another one just like it would start up a few days later because somebody has to _________________.” I am...
Printing company leaders often face a dilemma: Should they invest in new customer accounts and/or employees who show potential, even if the immediate returns are modest? The answer is nuanced, requiring a balance between optimism and pragmatism.When a business...
Few items raise more concerns (complaints?) than the subject of meetings. Small or large, routine, or ad hoc, brief, or multi-day, meetings in organizations are known to be an unavoidable evil. We can do better. While there are helpful books on the subject (including...
I read with great interest the story of Saks’ acquisition of both Neiman Marcus and Bergdorf Goodman. These three fierce competitors in the luxury department store arena came together less than two years ago with the hope of...
For a primer on developing an effective mission statement, download the digital version of “Understanding & Implementing Strategy & Planning” here. It can be argued that many industries are challenged by a rapidly changing and uncertain operating environment....