Strategy

Posted by |Jul 9, 2012|1 comment

In today’s competitive environment, different firms pursue a variety of strategies to stay successful in the competition. To be successful once is easy but to stay perpetually successful is difficult. Corporate history is replete with examples of organizations that were successful at one point of time, but could not continue to survive in the marketplace. One of the main reasons for corporate mortality is their excessive focus on the present & ignoring or paying little attention to the future & its challenges. In the intensely competitive global environment today, an organization should have strategies that provide the framework for long term success. It is the goal of strategic management to create an enduring organization.   Evolution of the concept of Strategy The word Strategy comes from the Greek word “Strategia”, which means a General or Military Commander. War & Strategy are inseparable. Whenever there has been war, there has been a strategy to wage it....

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Service selling vs. Product selling

Posted by |Dec 14, 2011|5 comments

India ranks fifteenth in the services output and the services sector provides employment to around 23% of the total workforce in the country. The various sectors under the Services Sector in India are construction, trade, hotels, transport, restaurant, communication social and personal services, insurance, financing, Consultancy services, and real estate.   The Sector of Services in India has the biggest share in the country’s GDP for it accounted for around 55% in 2009-10, which was merely 15% in 1950. This shows that the Services Sector in India accounts for over half of the country’s GDP. So selling a service should easy, right? Wrong!   Unlike a product which you can touch, feel, see & taste, service selling is something which does not exist. Intangibility is a challenge in selling a service vs. selling a product. The prospect needs to be assured that we are the right choice for them!   Objective remaining the same, that to convince  a prospect to...

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10 Reasons Why ‘Silver Bullet’ Strategies Fail

Posted by |Nov 29, 2011|5 comments

10 Reasons Why ‘Silver Bullet’ Strategies Fail    “Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” – Jack Welch   Fortune Magazine stated that “Less than 10% of strategies effectively formulated are effectively executed”. If Fortune is correct, only one in ten companies that do an effective job of formulating strategy are doing equally effective jobs of implementing it. For the rest, presumably, the well-crafted strategy is lost in the press of day-to-day tactical concerns or is left to languish in a report on the CEO’s bookshelf. Modern day management is punctuated with tales of hunt for the elusive ‘Silver Bullet Strategy’ that promises to transform the business and rid it of all its ailments. Be it Six Sigma, Lean, TQM or BPR, time and again we have witnessed strategic initiatives that have promised to be the next big thing in transforming the business, but...

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Strategy Planning – The Winner’s Choice

Posted by |Oct 13, 2011|3 comments

 What is Strategy?   Amongst the various English words grossly misunderstood, STRATEGY is one of the most common. Just like beauty; everyone has different meaning for it. The Oxford Dictionary says ‘strategy’ is a “plan designed to achieve a particular long-term aim”.  Strategy and tactics are generally used interchangeably to mean the same. Another meaning for strategy is “the art of planning and directing the military forces in a war or a battle”. Here, strategy refers to a long-range action plan to win over the enemy or to secure peace. Robert Kaplan, the founder of balanced scorecard defines strategy as “Making choices” – choice of product – market – process and so on.     From the above definition, strategy planning is more of an art than science. Strategy is not just the activity of logical brain as it involves conceptual thinking as well. Our education sharpens the logical brain but we often find most of us are very weak in...

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Integrated Strategy Management System (ISM®)

Posted by |Oct 13, 2011|0 comments

  Introduction   India as a nation went through the onslaught of colonial ruling for over two centuries and now it is a sixty years young economy. It has witnessed two phases of economical reforms namely “protected economy” and “Globalization”; paradoxically opposite ideologies. In the era of protected economy, all industries enjoyed “seller’s market” in which the Quality and customer focus was causality. Industries hibernated as there was hardly any pressure from competitors. Suddenly, the globalization policy and privatization brought tremendous competition and demand for better product and services. This is an era of “Buyer’s market” where the industries are forced to take customers seriously. This approach requires a different mind-set and management systems and practices.   “We shall have no better conditions in the future, if we are satisfied with all those which we have at present”– Thomas Edison   While this statement is definitely...

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