Blog - Strategy

No Competition

This article is for seasoned boards, executives and next gen. hi-potentials.   Really, anyone who owns a P&L or would like to lead a successful business.

Alert: You may be underutilizing the value of how competition can help your performance.

Q: Could you provide our readers with a brief introduction to Thinking Dimensions Global Consulting?

A: Apollo 13, Walt Disney, JFK and the Cuban Missile – what do these monumental names and historical events have in common? ….Dr. Charles Kepner

Dr. Charles Kepner – one of the founders of Thinking Dimensions Global (TDG) – worked with and consulted on each of these situations to help bring a successful outcome – all using our critical thinking tools. 

Why were they critical? Because they needed better, clearer, faster outcomes to:

• find root cause
  •make better decisions
  •assess risk
  •quickly set priorities
  •expertly engage stakeholders

The same needs exist in the workforce today.

Your Strategic Assumptions Can Make or Break You - Just Consider the Recent Demise of the A380

Conduct this systematic risk approach to steer clear or lessen Brexit threats your company is worried about.

Brexit has the full attention of many executives and companies world-wide. Many companies are prepared, but many more are not. Whichever way it goes - big dollars are at stake.

By the beginning of April 2019, banks had transferred more than US$1 trillion out of Britain and asset management and insurance companies transferred US$130 billion out of Britain - NY TIMES

Whatever unfolds by October 31st - it pays to work through our three(3) step risk approach with your team now. The outputs will help you pinpoint,  prevent and / or at least significantly minimize the impact Brexit may have on your business.

Risk in any sense is only about the Probability(P) of and the Impact(I) - if we can find the high Ps and the High I's ( and quantify it to Revenue, Cost or EBITDA $) - we can focus resources on the critical few Brexit risks to your business and have actions to prevent or mitigate risk.

Amazon’s acquisition of whole foods has rightfully caught the attention of executives and media over the last days. Whether or not you’re in the grocery industry or even marginally related to it – your company will be impacted.

Seasoned executives will be using this wave maker event to retool or recheck their version of how the world will unfold and find blindspots in their company that only recently may have been scoffed at as – NEVER COULD HAPPEN.

3 Things to Prevent Your Company from Being Eaten

1. Create or Revisit Your Strategy Assumptions

Assumptions make visible how your executive team believes the industry will unfold (rightly or wrongly). Product, Customer, Technology, Competition and Regulatory factors are key external inputs your company needs assumptions on.

Many company don’t have a crisp list or assumptions and implications or even a format that is relevant to drive decisions and make mid-course course for scarce resources and competing capital.

Create (or revisit) them with your team in light of this the Amazon decision and use it to ensure you and your team are thinking broadly on industry scenarios.

Strategic assumptions are a decision making and visionary tool to think broadly about scenarios that might unfold in your industry, and make deliberate decisions rather than leaving you flat footed – as I’m sure some grocery chains are feeling today.

A key strategic question to answer is:

• Who could be our future competition?
• Why would they enter and disrupt our industry?

• If you don’t have a practical format use this free download from my book to shore up your Assumption and Implications thinking - you can find one from my book here.

2. Have a Framework to Make Sense of and Think

Through Options

In strategic short-hand Amazon acquired a NEW PRODUCT (Whole Foods)that fits nicely into the current markets and customers they serve. Amazon is simply leveraging and building on one of their key capabilities –distribution and logistics competencies.