Strategy is fun to talk about, and thanks to the media, something that everyone has both heard of, and is an expert on. (I’m looking at you, Sun Tsu lovers – “If you stand by the river long enough, you’ll see yet another ‘Art Of War’ quote float by.”) However, not every enterprise has an articulated strategy. And not every enterprise needs one.
Four guidelines for identifying a great strategy:
1) For a strategy to create value, it will be different
2) That difference will matter to customers
3) Your strategy will be profitable
4) Your strategy will be sustainable
This month Kojima Fashion Marketing presented members with their annual inventory management survey results. However unsexy “inventory productivity” may sound, the most important factor to watch after the development of compelling product is its productive deployment. As noted elsewhere in this journal, inventory productivity meant the difference between success for Wal-Mart and bankruptcy for K-Mart, and it directly impacts the success of new market entrants even more so.
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Once upon a time the Aisonne sales team was invited to call on Tiffany & Company Japan. Sales were not what they would have wanted them to be, and a concerned individual in the local organization arranged for us to meet with their then Sales Director. On meeting this gentleman, we asked one of our favorite questions: “How often do you visit your stores?” His response was, “Oh, I’m not that kind of Sales Director.” Read the rest of this entry »
Once every decade I am introduced to a new way of thinking that stands everything I “know” on its end. This happened to me on April 29, 2006, thanks to a lecture by David Teece which, in turn, warmed a cup of coffee I’ve been stirring since working as a research assistant for Ikujiro Nonaka at Berkeley in 1989.
Traditional strategy calls on the strategist to look at business in terms of industry and competitive advantage. There’s only one problem with this. Industries are ceasing to exist as we have come to know them. In other words, Industries are Plastic. (Which is the Future, for those of you who’ve not seen “The Graduate”.) Read the rest of this entry »