Communicating Strategy with the Balanced Scorecard

Summary: Important Role of the Balanced Scorecard Useful as a tool to communicate strategy of the company and for the employees to understand critical objectives. Gives a certain clarity to the strategy that did not exist before. Communicating strategy to employees CEO dropping by employees desk, put the strategy map in fron of the employee and asked them three […]

Cash Flow: It’s Dynamic, Not Static

From the time a cash flow report is produced until it is reviewed, it is inaccurate.  It may be accurate enough for decision making when it is produced but it ages quickly.  Each business day (or hour) changes the numbers on the report and consequently your cash flow position.  Effective management of cash flow will […]

What Is A Business Model?

Summary: What is a “Business Model?” Not MBA Jargon. A prototype of a venture. Meaningless management speak. Corporate fashionista. Business Model A way to understand organizations. As systems. That have common components. To understand an organization’s business model – think about What value it creates? Who it serves? What sets it apart? What resources it depends […]

Simplify Your Strategy

Donald Sull, London Business School professor, poses three questions to break down complex strategies into actionable steps. Summary: Strategy: How firms create, capture, and sustain economic value 1. Clarify key drivers 2. Identify critical challenges (external or internal obstacles). 3. Determine your must-win battles.

6 Steps to “Iron Dome” Your Business

It is the belief of every business owner or leader to operate their business so that it is invincible to business threat conditions.  However, it is easier to believe or wish this than to execute it as a strategy. I compare the objective of this belief to the Iron Dome missile defense system that Israel […]