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Intellectual property Deciding how to tackle strategy development
Intellectual property Deciding how to tackle strategy development Deciding how to tackle strategy development |
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 "When it comes to strategy development for your organization, where you stand depends on where you sit," says Peter Boyce, Director of Consulting at TMG.Here is what Peter had to say at a recent presentation in Queensland. “Business needs change over time as do the needs of markets they serve. Your strategy describes to stakeholders, why your organization will be more successful than others. The more compelling the case, the greater support you will have from stakeholders to the extent each benefits fro the success.  For example, right now, market turbulence may have weakened the position of some
smaller competitors. In response, you might be applying
capital and effort to taking out some competitors whilst they are
unsettled by this turbulence. This could be part of a larger cost
leadership approach to a maturing product portfolio and where you have
an advantage you feel able to maintain – even strengthen
through this action. Acting quickly optimizes the value from weakening of competitors relative to you. Clearly you are taking a positioning approach that
will require specialist skills in logistics, HR and probably brand management, as well as either M&A or sales and marketing. This is happening in the finance sector post the 2008 sub-prime induced credit
crunch and finance instrument failures. Amongst the carnage will be many hidden value creating deals. Alternatively, you might have more demand than you can
supply, but be unable to get hold of the resources you need to
capitalize, principally as a result of the diversity of skills required
to meet the demand. In response you might be considering how to
segment and prioritorize where to deploy resources. You'll want to optimize value from resources and customer delivery leadership. Here
you are probably transiting from a strong learning oriented approach to
strategy, toward sustaining visionary leadership but giving more emphasis to planning and positioning strategies. Services to the mining and construction sector adopted this sort of
strategic approach as the boom of 2005 onward tested resources.Maybe you just merged with the intention of driving out efficiencies, only to find your customers are not sure if you are still giving priority to core products but across more geographies or broadening your product range in your current geography. This is a classic product / market dilemma and vision and mission will play a key role in driving out the benefits of the merger,  as will your ability to
innovate. In this situation, competitive advantage is at risk of being eroded and should be a point of focus prior to the merger. This situation is potentially transformational and is
probably best served by triangulating several approaches to strategy –
combining competency based insights, competitive positioning decisions
and a search for innovative differentiation. This is a typical
challenge for the HR industry as it increasingly globalizes.The approach to strategy that is right for your business depends on the external and internal situation over the time horizon investors choose to look. TMG takes the view that, rather than applying any particular approach or framework – from blue ocean to balanced scorecard; positioning to leadership; benchmarking or entrepreneurial; patterning or organic (and many other options), our job is to help you decide three things: 1. What characterizes the present circumstances of your business and market that impact strategic choices? 2. What strategic approaches or frameworks are best equipped to help you gain insight and make strategic decisions in such circumstances? 3. A clear response, compelling for all stakeholders, to the question; "why this business will be more successful than the competition"  This is the big advantage of an external advisor. We are not in your forest, surrounded by your trees. We will find it easier to stand back, think in global, systemic terms and help you and your team to consider the alternative perspectives and make well reasoned and supported decisions. TMG adopts the approach of: 1. Consider and critique 2. Provide insight and options 3. Advise on action 4. Help to leverage resources toward good decisions Further, our facilitation orientation helps lift your team’s contribution, drive out fresh thinking, breakthrough old barriers, fuel passion and simultaneously, demand rigour, hleping to make sure the decisions are good ones. When TMG advises on strategy, the approaches we suggest you consider are guided by your current circumstances. We don't arrive with a prescription for you to follow. “Where you stand, depends on where you sit” (Anon) And which tools, frameworks and approaches need to be tailored to the situation." Are there any questions please?"  For more information about TMG strategy consultants email
 or call 03 9010 9010 and ask for Director of
Consulting, Peter Boyce.
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Contact us
TMG integrated strategic solutions
Toll Free in Australia 1800-100-666
Melbourne 03 9010 9010
Fax: 03 9857 3733
Snail Mail: PO Box 698
Balwyn North - Victoria 3104
Email
Toll Free in Australia 1800-100-666
Melbourne 03 9010 9010
Fax: 03 9857 3733
Snail Mail: PO Box 698
Balwyn North - Victoria 3104
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