Tag Archives: Competitive advantage

Believe this Myth and Never Unlock Your Value

One persistent myth about the strategic thinking process: it is long and cumbersome. Even if that were true in the past, it’s not so now. More importantly, it should not be! Strategic thinking is not “protracted thinking”—the kind that eventually coughs up a 500-page, door-stop-style plan that is shelved upon completion. If learned correctly, strategic thinking helps to create plans that are living documents—guiding decision-making on a daily basis. Strategic thinking becomes real, actionable, and accessible. Done collectively it is the kind of thinking that quickly galvanizes individuals, companies, and other organizations to produce positive results. Try it—answer these questions for yourself or your team—see what happens!

Source: Think to Win, McGraw-Hill, 2015

Unlock and Unleash to Add Value

Unleashing the Power

A Channel to Innovation

power-training-barbell-muscles-hands-39613A few years back I was called in to work with a new Product Development team that had been experiencing several setbacks and delays. The cause being new technology; an important part of the firm’s overall growth strategy. It was designed to fill a gap that existed in the new product pipeline. I spent a few days with the marketing executive who was leading the team. He suggested that I spend some time with individual team members before meeting with the collective team. After initial conversations, I called the leader and said, “This team has a group of experts who do all of the things a high-performing team can or should do, except knowing how to think collectively and dialogue appropriately in a way that provides true breakthrough.”

We agreed as a team that an intervention—a new approach—was needed as they couldn’t get to a new product launch—literally stuck on a situation for over 6 months, and the organization was bleeding dollars.

In one of the most inspiring leadership books, Synchronicity: The Inner Path to Leadership, renowned author, Joseph Jaworski, writes ….

If people were to think together in a coherent way, it would have tremendous power. If there was an opportunity for sustained dialogue over a period of time, we would have a coherent movement of thought, not only at the conscious level we all recognize, but even more importantly at the tacit unspoken level which cannot be described. Dialogue does not require people to agree with each other, instead it encourages people to participant in a pool of shared meaning that leads to aligned action.”

One of our (GlobalEdg’s) core principles of Strategic Thinking is creating/developing the ability to openly dialogue and challenge underlying assumptions. And, being able to do this in a way that allows people to be heard and empowered to find solutions. Learning to effectively Challenge Assumptions is defined in Think to Win: Unleashing the Power of Strategic Thinking by Butler, Manfredi, Klein. An excerpt from the book:

“Having an open mind is a necessity. It starts with an exploration of what you might be taking for granted. Peel away any built-up layers of assumptions by asking how they came to be accepted, and envisioning what would happen if they were not.

Begin by asking the “What If” and “Why” questions:

  • Why did we see the need for this decision in the past?
  • What if we do things differently?
  • What if our biggest competitor were in this room; what would he or she say about us?
  • What if we re-imagine things radically? What if we create a new market segment?
  • What if I owned this business? What would I do differently?”

By applying the Think to Win strategies, the team began to master the ability to dialogue more effectively, they learned to collectively think and produce results. This allowed for accountability and cross-functional collaboration in a different, more authentic way. The results—the team accelerated its work and delivered the new product to market ahead of schedule. That product is still in the market today and doing well. Just as important, the organization gained and replicated this capability with future product launch teams.

 

Paul Butler

President, GlobalEdg

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image from www.pyschologytoday.com

Talent Development Leaders — Are You Asking the Right Questions?

Talent Development Leaders — If you can’t clearly answer this question — then it is time to act.

Recently I was having a conversation around the table with a client and his managers. The discussion focused on how the Talent Development function was supporting the business. As is so often the case, the conversation centered around talent development pipelines and processes such as performance management alignment.

I listened quietly and then asked if we could shift the conversation a little — I wanted to ask a different question before we moved on…

“What do you believe makes your organization unique and gives you a competitive advantage in the marketplace?”

I can usually predict what the answer will be – and it happened again here… Each person had a different answer!

This is an easy question to ask – but so difficult for many managers to answer. Try it! How would you answer it for your organization?

Well, during our discussion… the most senior executive on the T&D team’s response was “Our ability to take risks.” My follow-up question was “What does that mean?” My second question was “… And what makes you different from your largest competitor –are they not risk takers?

Another executive jumped in and said, “I think there’s a different answer to that question. I think capability in research and development sets us apart from the competition.”

The conversation then led to how to define and then to leverage their competitive advantage.

Why is this important?  — if you are not building organizational capability with this question in mind, it’s time to start! Not being able to define – and act on your competitive advantage – is a serious risk to your business. At best it is losing you money – at worst it may cost you your business!

In fairness to the Talent Development function – this problem is just as common across all functions and pretty universal across businesses.

In other words, once you clearly describe your competitive advantage you can tailor functions such as capability development and recruitment and selection to finding and developing employees to drive the business forward to take advantage of the opportunities your advantage provides.

Just try searching on Google — what you will find is that there are 50 million hits when searching for Strategic Competitive Advantage –so widely in the consciousness of organizations – YET our research shows …. only 44% strongly agree that they can describe what makes their organization different from the competition, AND 20% strongly agree that their organization’s current strategies give them an advantage over the competition.

Why is that? People are not asking the right questions and don’t have an approach that will get them to universally identify and leverage what makes them unique.

When you are in a position to address this issue… Try jumpstarting the conversation by asking leaders in your organization the following questions:

  • What must we do, know, or produce that no one else can? This is truly hard questions to answer. –the key –be honest – what is the evidence that you alone can do this?  How do you know?
  • What do we want to be best in the “world” at? However, you define your “world” –is an important context for this conversation.  Is your world truly global? Or is it the world in which you currently operate in – or perhaps the world you would like to move into.
  • What is the single best reason for our success? This allows you to focus — is it a single thing like a patent on a new product or a unique approach to something that cannot be easily replicated?
  • Is our advantage anything that a competitor could say about their organization? This is the true “smell” test. Again, be honest with yourself. If this is not the case – you have a competitive advantage –if not, maybe now is the time to secure one.

Only when your organization is clear on these important questions can you reshape your Talent Management Strategy to take full advantage of the opportunities your competitive advantage provides.

For more visit: www.thinktowin.net

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President Blog

What I’d Tell the Next President

Whoever takes the White House is going to face a country in transition. Here’s what the experts want POTUS to know on Day 1.

Shift the Tone – Our country needs leadership – and it needs to come from the top on day one. You need to shift the way people think about how Washington works. It is not all about “executive orders” or what you are going to “tear up.” It is about changing the America Psyche. Set a new tone with the American people —- let them know that there “is” a solution to every problem … and the best way to solve them is collectively with those who have strong differences. It is about relationships and not just rules. Think about the relationship that Ronald Reagan and Tip O’Neill had. There was a mutual respect and they genuinely liked each other. Reagan and O’Neal were able to find common ground even though they philosophically were polar opposites. Many credit them with saving Social Security. As the President, your words and actions mean much more than they did after the November Election. During your first official day in office, bring the leaders from both parties together and announce that you will be hosting a Camp David Summit. Why Camp David? For decades it has been a place to bring world leaders together to build broken relationship and address the most important problems. Couldn’t leaders from both our parties use that? With the desire to change the tone, I would suggest a theme – How Good Can America Be? The purpose would be to outline an agenda and jump-start an important Leadership conversation around clearly identifying what has given the U.S. a competitive advantage in the world; and, more importantly how we sustain that for the years to come. Not only would this be symbolic, it would show leadership and action.

 

Paul V. Butler President, GlobalEdg and Co-Author of Think-to-WinUnleashing the Power of Strategic Thinking