Business Strategy

Five Forces Analysis – Michael Porter

by Paul Simister on October 3, 2011

In my guide to strategic planning models I described Michael Porter’s Five Forces Analysis as probably the most famous of the strategy models but until now, I haven’t written about it in detail on my blog. Background To The Five Forces Analysis Model The Five Forces Analysis model was first introduced in the Harvard Business […]

{ 0 comments }

Continue Reading

What is Strategy ?

by Paul Simister on October 2, 2011

“What is strategy?” seems such an easy question to answer because you hear the words “strategy” and “strategic” banded around like confetti. But the “What is strategy” question hides a problem. What Is Strategy? People often decide that they need to work on their business strategy before really understanding what strategy is. And doing something […]

{ 0 comments }

Continue Reading

Hypercompetition by Richard D’Aveni

by Paul Simister on September 26, 2011

Hypercompetition : Managing the Dynamics Of Strategic Maneuvering by Richard D’Aveni is a book I’ve wanted to read for many years and finally, earlier this year I did. Although it dates back to 1994 I’m very impressed about its ideas on strategy dynamics. Hypercompetition Review The view of business strategy presented in Hypercompetition by Richard […]

{ 0 comments }

Continue Reading

The Benefits Of Strategic Planning

by Paul Simister on September 14, 2011

I’ve been writing about differentiation in particular and strategic planning in general and I’ve just realised that I’ve not gone through the benefits of strategic planning. I’m planning to fill that oversight now.

{ 0 comments }

Continue Reading

Business Health Check – Your Strategic Snapshot For SME’s

by Paul Simister on September 13, 2011

A business health check is a chance to stand back and look at your business with fresh eyes as it looks at many different aspects of your current business performance and the factors that determine future business performance. Why You Need A Business Health Check As the owner of a small business and a coach […]

{ 2 comments }

Continue Reading

Scenario Planning Techniques Are More Important Than Ever

by Paul Simister on September 12, 2011

A few years ago I believed that scenario planning techniques were too complicated and time consuming for many small businesses to focus on. I saw scenario planning as a strategic planning tool for big companies but small and medium sized businesses were better off putting together their plan on most likely assumptions and then get […]

{ 0 comments }

Continue Reading

Defensive Strategy in Marketing & Business

by Paul Simister on September 9, 2011

It’s important to recognise when a defensive strategy is the sensible approach in marketing and business. I use the SPACE analysis matrix to help ground management’s natural desire for growth and profit improvement and put it into perspective of the realities of the existing situation. Defensive Strategy In SPACE A defensive strategy is recommended by […]

{ 0 comments }

Continue Reading

Strategy Quotes & Quotations

by Paul Simister on September 6, 2011

I have a weakness for quotes so I thought I’d start building up a list of my favourite strategy quotes and quotations. I’ve split these into two categories – those strategy quotes that support strategic planning and those that take more of a negative view about strategy and planning. Positive Strategy Quotes

{ 0 comments }

Continue Reading

Advantages & Disadvantages Of Value Chain Analysis

by Paul Simister on August 18, 2011

Value Chain Analysis is the big idea in Michael Porter’s classic strategy book Competitive Advantage. Image Rights for diagram The Advantages Of Value Chain Analysis A big advantage is that the value chain is a very flexible strategy tool for looking at your business, your competitors and the respective places in the industry’s value system. […]

{ 2 comments }

Continue Reading

The Experience Curve & The Impact On Innovation

by Paul Simister on August 9, 2011

I’ve written before about the importance of the experience curve for cost management and the importance to manage it actively rather than hoping that more experience automatically leads to lower costs. The Impact Of The Experience Curve On Innovation & Differentiation I’ve never discussed its impact on differentiation and how focusing on getting the most […]

{ 1 comment }

Continue Reading

My thinking on strategy is heavily influenced by Michael Porter and his classic book Competitive Advantage introduced the concept of the value chain analysis. The value chain is an original Porter concept although he built on the idea of the business system from strategy consultants McKinsey and its main purpose is to help you to […]

{ 2 comments }

Continue Reading

Small Businesses Can Have A Competitive Advantage

by Paul Simister on August 3, 2011

I’m shocked when I talk to business owners who are under the mistaken belief that only big businesses can have a competitive advantage. It’s not true – you can have a small business with a strong and compelling competitive advantage and in many ways I think it’s much easier to develop a competitive edge in […]

{ 0 comments }

Continue Reading

Good Strategy Bad Strategy by Richard Rumelt

by Paul Simister on July 30, 2011

Good Strategy Bad Strategy: The Difference And Why It Matters by Richard Rumelt is a thought-provoking book which challenges many of the practices that are passed off as strategy today. Strategy Sounds Important – It Must Be Good I have a pet hate. If you want to make something sound important, then you call it […]

{ 3 comments }

Continue Reading

There’s a big temptation to make business strategy and strategic planning too complicated to be successful. This is why the idea of focusing on your key success factors (KFS) and your key factors of difference (KFD) is so important. There are so many things that you could do to make your business more successful. There […]

{ 0 comments }

Continue Reading

As an entrepreneur, you probably suffer from what Michael Gerber calls “busy, busy, busy”. There’s always much more you which you could do…, should do. But what really matters? What is the main thing that is stopping your business from making more money?

{ 0 comments }

Continue Reading

Is it a good idea to have a one day strategy workshop or strategic planning workshop? Why You Might Want A Strategy Workshop Let’s imagine that your business performance has dipped or you fear that it might because of recent changes in environment conditions, customer needs or competitors. And you get approached by a firm […]

{ 0 comments }

Continue Reading

3 Ways Growth Is Killing Your Business

by Paul Simister on May 27, 2011

It’s easy to fall into the trap of thinking that business is simple and especially that more sales equals more profits. Sometimes it’s right but sometimes it’s wrong. Sometimes growing a business can destroy it. There are three big reasons:

{ 0 comments }

Continue Reading

Peeling The Strategy Onion

by Paul Simister on May 19, 2011

The idea of working on your strategy and the entire strategy planning and management process can be daunting. So daunting that it can put many business owners off. And that leaves them stuck trying to get improved profit performance from implementing tactics. I believe they are missing a big trick and it’s a trick that […]

{ 0 comments }

Continue Reading

I used to play hide and seek when I was a boy. We’d agree that we’d have a count of 60 or 100 and that was the time limit for the other person to open their eyes and to start looking for me, whether I was ready or not. If I wasn’t ready, I was […]

{ 0 comments }

Continue Reading

The Profit Tipping Point – Free Report

by Paul Simister on May 10, 2011

  For several years I’ve wanted to share a high level, strategic view of what makes a business successful and at last I have finished the Profit Tipping Point report and you can get yourself a copy for free. In the report I cover two big issues: How much profit your business should be making […]

{ 3 comments }

Continue Reading

Strategic Plans, Business Plans & Budgets

by Paul Simister on May 6, 2011

It’s no surprise that I am a big believer in the advantages of planning and preparing strategic plans, business plans and budgets. It’s the process of planning and how it helps you to clarify you thoughts and see problems and weaknesses in advance which is often more important than the plan itself although it can […]

{ 0 comments }

Continue Reading

Strategy From The Outside In Or Inside Out

by Paul Simister on April 21, 2011

As a business owner you have a simple choice. You can: Run your business opportunistically, jumping from one thing to the next which looks as if it could make you money; or You can develop a strategy to create success in your market and then which guides your actions and decisions. The first may work […]

{ 0 comments }

Continue Reading

Put Out The Lights When You Leave

by Paul Simister on April 18, 2011

In the second world war, it was important to save energy and the US Defense Department printed posters that said… “Illuminations must be extinguished when premises are vacated.” President Roosevelt was horrified. “Why can’t they just say ‘Put out the lights when you leave’?”

{ 0 comments }

Continue Reading

I Thought Heinz Baked Beans Were American

by Paul Simister on April 18, 2011

I was talking to my fiend Lynda last Friday and I was shocked. Lynda moved to the United States about four years ago from the UK and she said he was missing Heinz Baked Beans because she couldn’t get them where she lived, except from a speciality import shop a long way away from where […]

{ 4 comments }

Continue Reading

What Are You Doing On Saturday Night?

by Paul Simister on April 15, 2011

It’s the weekend. It’s good to do something special and especially if you don’t have to get up early on Sunday morning. So what are you going to do?

{ 0 comments }

Continue Reading

How To Murder Your Business

by Paul Simister on April 14, 2011

Other experts may tell you how to grow your business and increase profits and here I am encouraging you to think about how to murder your business. Have I gone out of my mind? I want to introduce you to the idea of defensive strategy. Think of a football game. One team attacks, the other […]

{ 0 comments }

Continue Reading

Tourist Trap Restaurant Model Of Profits

by Paul Simister on April 1, 2011

According to one survey 60% of British holidays makers have been ripped off by a tourist trap restaurant with bad food, bad service and a lousy experience. I am amazed it’s not more and I think it shows the low level of expectations we have. I’m not encouraging it as a way to make money […]

{ 0 comments }

Continue Reading

8 Fatal Mistakes In Strategy Implementation

by Paul Simister on February 22, 2011

Yesterday I wrote about mistakes in strategic planning. But planning is the start of the strategy journey and not the end. Effective implementation is essential if you are going to be achieve your strategic goals However this is where it does get more difficult since you have to get your staff, customers and suppliers to […]

{ 0 comments }

Continue Reading

8 Fatal Mistakes In Strategic Planning

by Paul Simister on February 21, 2011

There are eight common mistakes I see in strategic planning which can be avoided but can also be fatal. The 8 Fatal Mistakes In Strategic Planning Strategic Planning Mistake 1 – Focusing on tactics not strategy. Just to be clear, strategy explains the “why”, tactics are the “what”.

{ 1 comment }

Continue Reading

Why Doesn’t Strategy Work?

by Paul Simister on February 21, 2011

I’ve deliberately written a contentious title, “Why Doesn’t Strategy Work” because I believe the opposite. When it’s done right, spending time on developing and implementing your business strategy is some of the best and well rewarded time an entrepreneur can spend. But I also have to admit that when it is done wrong, strategy doesn’t […]

{ 1 comment }

Continue Reading