Winning
Focus on what counts. Avoid distractions. Stay ahead. Win.
Jack Welch, former CEO of General Electric at the time it had the largest market capitalization of any US public company, said that the goal of business is Winning. To win, you must focus on what counts and avoid distractions, something that's increasingly difficult to achieve in this fast-paced, complex, interrelated world. What worked yesterday may not work tomorrow; indeed, it may no longer be relevant. That's why leaders of successful companies develop business plans to address strategy, culture and leadership, assess them routinely (at least once a year), and regularly modify them to achieve continuous improvement.
Strategic Review Questions
A Commanding Strategy is built on “ecosystems” which adopt holistic, integrated and synergistic policies/practices that can’t be easily matched by competitors, enabling longer-term success. What got you here, may not get you to where you want to be in 3-5 years!
Today this involves:
- Clarity of purpose – What is your 3-5 year Mission, Vision, Goals and Values?
- Executive Commitment - Are executives committed to “team #1? Are they ready, willing and able to make smart trade-offs between priorities to get ahead of existing and future competition
- Alignment of Core Values – How will you interact with clients, staff, vendors, teams, etc.?
- Enterprise Structure – Does it facilitate responsiveness and safe, informed decision-making, including ongoing evaluations to iterate and the world continues to change?
- Focus on Both AIs - Incorporating Artificial Intelligence technologies within and across departments to increase effectiveness while Augmenting Intelligence of our human workers.
Competitive Advantage
A Competitive Advantage (CA) gives customers/clients a reason to choose your firm because it is superior when it comes to meeting their needs, compared to rivals and alternative vendors/partners. Winners know why customers, strategic allies and investors choose their firm over the competition.
ACTION STEP
What's your company's biggest challenge? Let's discuss how strategy, culture and leadership can help you win.