Putting Strategy Back Into Strategic Planning
Put Strategy back into strategic planning.
By focusing on the big picture companies improve their chances of creating a Blue Ocean of uncontested market space. As the best-selling book,
Blue Ocean Strategy, outlines, it is important to build a strategy canvas to create a strategic planning process. As a result, a company and its managers focus their attention on the big picture rather than becoming immersed in numbers and getting caught up in the operational details.
Drawing a strategy canvas does three things.
First, its shows the strategic profile on an industry by depicting very clearly the factors (and the possible future factors) that affect competition among industry players. Second, it shows the strategic profile of current and potential competitors, identifying which factors they invest in strategically. Finally it shows the companys strategic profileor value curvedepicting how it invests in the factors of competition and how it might invest in them in the future.
There are four steps for visualizing strategy when drawing your strategy canvas.
1.Visual awakening comparing your business with your competitors by drawing you as is strategy canvas. See when your strategy needs to change.
2.Visual exploration Go into the field to explore the six paths to creating blue oceans. Observe the distinctive advantages of alternative products and services. See which factors you should eliminate, create, or change.
3.Visual Strategy Fair Draw your to be strategy canvas based on insights from field observations. Get feedback on alternative strategy canvases from customers, competitors customers and non customers. Use feedback to build the best to be future strategy.
4.Visual communication Distribute your before-and-after strategic profiles on one page for easy comparison. Support only those projects and operational moves that allow your company to close the gaps to actualize the new strategy.
Often times executives are reluctant to accept the need for change. But ask, does your current strategic profile have Blue Ocean potential?
Companies with a high Blue Ocean potential have three complementary qualities: focus, divergence and a compelling tagline. If a companys strategic profile does not clearly reveal those qualities, its strategy will likely be muddled, undifferentiated, and hard to communicate. It is also likely costly to execute.
Focusing on the big picture allows you to minimize planning risk. Companies like Strategize Blue can train your executives in the basic principles for systematically applying
Blue Ocean Strategy. In their Corporate Training Program executives learn through situational exercises, case studies and group activities. They gain a firm grasp of material and the ability to apply the visual tools and analytical frameworks to your company.
For further details on Corporate Training, Standard Guidelines and visit www.strategizeblue.com for various applying
Blue Ocean Strategy services.
These methods of visualizing strategy will put strategy back into strategic planning, and they will greatly improve your chances of a creating a blue ocean.
Brendan Murphy is the Marketing Manager for Strategize Blue http://www.strategizeblue.com, a Blue Ocean Strategy Training and Consulting company based in San Diego. He works under Dr. Zunaira Munir, the internationally exclaimed expert and keynote speaker on
Blue Ocean Strategy..
by: James
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