Stanford-Converting Strategy into Action

Strategic Execution Framework

  • By keeping projects alive, to what degree are you subtracting things from the possiblity of your future.
  • Hyperaction Vs Nonaction
  • Project:How does “Done” look like.
  • How flexible and adaptable is portfolio to the strategy to the relevance in the external market.
  • Environment with a fast moving market, Portfolio strategy to match half that frequency.
  • Portfolio is always ON. Vector Sum total of all projects is Strategy
  • Culture and Structure important for strategic success.
  • Where are we going in the long-term? What are the goals of our goals.
  • Strategy naturally or cognitively flows to Portfolio
  • epiphany-experience of sudden and striking realization
  • Strategy <-> Commoditization
  • Ideation – Nature – Visions – Engagement – Synthesis – Transition
  • Benefits realization/planning is critical.

Strategy

  • Strategy is about adding value through a mix of resources, capabilities and activities different from those used by competitors in your industry.
  • Porter’s five forces
  •      Industry dynamics
  •                   2. Threat of new entrants- entry and exit barriers
  •                  1. Rivalry between existing firms.
  •                  3. Threat of substitute products/services
  •      Supply chain power
  •                  4. Bargaining power of suppliers- owns a critical component of your product will take value off your supply chain
  •                  5. Bargaining power of buyers- as products commoditize; more comparison; more choices
  • Choose the right industry to compete in. Change industry when the industry becomes hyper competitive.

MOORE FRAMEWORK

  • Four kinds of product leadership zone (a) Disruptive innovation (b) Application Innovation (c) Product innovation (d) Platform innovation
  • Industry Maturation – Technologies and categories mature rapidly. Buying decisions begin to emphasize low cost and vendor responsiveness. Result- productions and supply get outsourced, major product innovation become increasingly difficult.
  • Customer intimacy zone- Line extension, enhancement innovation, marketing innovation, experiental innovation
  • Operation excellence zone- value engineering innovation, integration innov, process innovation , value migration innovation.
  • Category renewal zone-Organic, Acquire, Harvest and Exit

Strategy and Culture

The four Strategic Value Disciplines (SVDs)

  • Operational excellence (CONTROL)
  •      Differentiate through superior execution as measured by productivity and, ultimately, lower price
  • Customer intimacy (COLLBORATION)
  •      Differentiate through superior matching of customer expectation with offer fulfillment—demanding higher price
  • Product leadership (COMPETENCE)
  •      Differentiate through superior design and engineering yielding higher performance—demanding higher price
  • Disruptive innovation (CULTIVATION)
  •       Thinking outside the box, imagineering, new paradigms

Culture Egg -perfect sphere culture mix might not serve well

  • Cost Containment (Governance) Vs. Cost Competitiveness (Strategy)
  • IDEO-Highly differentiated Disruptive innovation. Best supported by cultures of cultivation. Aligned to preach to practice.
  • Governance in terms of process that helps move forward. Focusing effort.
  • Execution of process- not holding back and restricting creativity.
  • Competitive advantage grid- Geoffrey Moore

Culture and Structure

  • Structure must be aligned with strategy and culture
  • Formal Structure- flow of information, authority and decision making across the organizationHow
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The Stanford Exposure

Long time since I had a classroom experience after my academic exposure at IIM Lucknow. So on slightest opportunity I got I enrolled in a project management program at Stanford. Know more.

Only thing different this time is the delivery option I chose for this program- Online. I’m excited and a bit skeptical of this delivery mode. I’ll judge the efficacy as I go along this program.

Also I’ve planned to take notes on my blog. So the next few posts will be the classroom extracts of the attended classes as part of this certificate program. So here I go.