How To Identify External Factors That May Affect Your Strategic Plan

Did you ever think you had the perfect business plan and strategy, only to be blindsided by an increase in tariffs or a new environmental regulation? This article will help you discover how to think about and manage external factors that can cripple your strategic plan (or open up new opportunities). If you don’t do it already, you need to learn how to conduct an environmental scan.

More information: https://www.clearpointstrategy.com/external-factors-that-affect-a-business/

PROJECT MANAGEMENT, THE SPEARHEAD OF STRATEGIC MANAGEMENT

For Sun Tsu, Alexander the Great, Marc Aurele, Genghis Khan, Niccolo Machiavelli, Miyamoto Musashi, Carl von Clausewitz, Napoleon Bonaparte, and the General Colin Powell, the corner stone of a good strategy takes its ground in its Execution. For them, Strategy Formulation and Execution are intertwined and in dissociable. The purpose of this article was to tighten weaving between Strategic, Operations and Project Management. Its goal was to propose reference frameworks to support practitioners using Project Management as part of the Corporate Strategy Process in the context of Global Organizations.

More information: https://www.pmimontreal.org/en/blog/project-management-the-spearhead-of-strategic-management

6 Steps Toward Making Inventory Management More Strategic

Retailers and ecommerce companies have spent considerable sums to manage and fill customer orders from multiple shipping points (DC, FC, manufacturer, stores, etc.). Whether this applies to you or not, your company can benefit by adopting a strategic approach to optimizing inventory levels in order to maximize sales and profits and improve customer service.

More information: http://multichannelmerchant.com/blog/6-steps-toward-making-inventory-management-strategic/

How Adaptive Strategy Is Adapting

When our article, “The Strategic Plan Is Dead; Long Live Strategy,” came out in 2014, the main takeaway seemed straightforward but generated a surprising amount of discussion: When it comes to developing strategy in a rapidly changing world, it’s no longer enough to just make a plan and stick to it; organizations instead need to learn to set a direction and make adaptations to it.

More information: https://ssir.org/articles/entry/how_adaptive_strategy_is_adapting

Developing a Strategy for Constant Change – Interview with Jeong Pyon

In this episode of our Strategy and Leadership Podcast, we were joined by Jeong Pyon who is the Senior Manager of Group Strategy for an international hotel chain in Vancouver.  Hotel strategy is intertwined with revenue management, with the primary goal focusing on booking rooms to the right market segment. To best achieve this, group strategy managers must understand at both transient and group demands and how to plan strategically around these segments.

More information: http://www.smestrategy.net/blog/developing-a-strategy-for-constant-change-interview-with-jeong-pyon

The State of Artificial Intelligence & Business Strategy

Artificial intelligence (AI) has become a popular topic in the realm of business. From predicting IT failuresto which new song will become a hit, AI presents many exciting opportunities. This begs the question: how is AI affecting the most critical element of any business — its strategy?

MIT Sloan Management Review recently partnered with The Boston Consulting Group to conduct research on how AI is currently being integrated into business strategy and how it might affect the business landscape going forward.

More information: http://www.lblstrategies.com/2017/10/25/the-state-of-artificial-intelligence-business-strategy/

Plan Optimization: The Last Mile of Strategy

At AchieveIt, we constantly talk about the gap between planning and execution. Organizations create great plans but often fail to realize those initiatives. While this is tremendously important, there’s another significant problem that many organizations face – finalizing a plan.

It’s not uncommon for organizations to get to the 10-yard line when creating their plan, but then struggle to make it to the end zone.

More information: https://www.achieveit.com/resources/blog/plan-optimization-the-last-mile-of-strategy/

How do biases influence performance management?

I stepped into a meeting room. The organizer was late. All of us started doing something or the other. Few went to have coffee, few started replying to emails, few started scribbling on the notebook; most started Whatsapping. Each of us filled the silence, the open loop, with something which we felt was right to do at that time. Don’t worry, it’s not a vague example of cognitive biases that I am putting forward. It’s the human mind that tries to complete the loop.

More information: https://www.peoplematters.in/blog/appraisal-season/how-do-biases-influence-performance-management-18119

Creating a Strategic IT-OT Investment Plan

Creating a Strategic IT-OT investment plan is essential for all manufacturing organizations.  With all the opportunities to fund projects, which ones are the most important can only be understood, if considered as part of an overall corporate investment strategy.  Too often, IT and OT investments are considered separately.  While IT investments may have higher visibility across the enterprise, OT investments can also have a significant impact on the business.

More information: https://www.arcweb.com/blog/creating-strategic-it-ot-investment-plan

5 Signs Indicating You Need Strategy Coaching

Many C-suite and mid-level executives have by now understood and experienced the benefits of business coaching. The range of topics for business coaching is very wide. It includes leadership development, stress management, coping with change, and handling conflicts, to name just a few. One particular branch of business coaching which still requires more explaining is business strategy coaching, which happens to be may own focus.

More information: http://www.strategicthinking.eu/5-signs-indicating-you-need-strategy-coaching/