When it’s time to update your strategic plan, get started by identifying the Crossroads Issues. They’re the business issues that demand strategy decisions. Our work with La Quinta Inns back in the 80’s is a great example of Crossroads Issues. https://vimeo.com/362914753 When La Quinta attracted $75 MM of expansion capital financing, they had just completed... Continue Reading →
By Rob Eskridge and Ryan Stock For senior management of growing businesses, Labor Day marks the end of scheduling around vacations and a transition into strategic planning season. Ideally, strategic plans can be completed and used as input for operating budgets late in the year. So autumn can be perfect timing for plan updates. Looking... Continue Reading →
Employee engagement begins well before employment. Back in the day, Ben Peternell spent a lot of Harrah’s money on PhD types, researching leading indicators of employee success for front-of-the-house casino jobs. One of the findings was to ask this question during the job interview: “Can you tell me a good joke?” It correlated well with... Continue Reading →
Last week was a long range planning week.
As a corporate board, we approved long term financing for an acquisition. We led our hospital client’s philanthropy and master planning to build a new facility by 2030. Another client hired a CEO who hopefully will be in the saddle for a decade or more. Then on the weekend there was a birthday party for a six-year old niece. Her father is planning their financial future through college graduation in 2032. On Monday I tagged along with a grandson to the first day of kindergarten. What will his world be like when he completes his education in 2035?
On my professional side of life, strategic planning has become more short term than ever, given today’s hyper-competitive markets and much shorter payback on new product launches. But there’s one aspect of long-range business planning that still has an important place in the mid-market:…
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Last week was a long range planning week. As a corporate board, we approved long term financing for an acquisition. We led our hospital client’s philanthropy and master planning to build a new facility by 2030. Another client hired a CEO who hopefully will be in the saddle for a decade or more. Then on... Continue Reading →
Does your band positioning match well with the partner’s brand? Similar target markets? Complementary emotional response from both brands? Or does one brand cheapen positioning of the other? Growth Management Process > 4. CREATE Action Plans > Alternate & Selected Strategies process: Do you find yourself short of resources to implement one of the strategic Priority... Continue Reading →
This is a great metaphor that I came up with that applies to most high tech products, and could certainly make the a point to all innovative companies with a product development group. Click on the link to see the diagram (below). What do you all think? Post by: Ryan Stock
Brian Christian reports in the May 2012 edition of Wired that (now-classic) A/B testing of web site variations has virtually replaced HiPPO decision-making in tech circles, at least for web design decisions. (HiPPO is “highest-paid person’s opinion.”) "Over the past decade, the power of A/B testing has become an open secret of high-stakes web development.... Continue Reading →