2:15 How do you define strategy? 1) Where to play and how to win 2) Strategy vs planning: Complements, not substitutes 11:13 How does Military vs Business Strategy compare? 1) Military: What mattered were our capabilities and that of the competitors’, as well as the things that we will do vs the things they will do 2) Business: Started similarly, but evolved to include and put greater interest in the consumer 3) Strategy for competing vs for winning - which customers will you serve better than everyone else? 16:05 How do you create a winning strategy? 1) Understand your customers really well to develop the capabilities to serve those customers in a unique way. 2) After knowing who your customers are, you enter into the creative act. What’s a theory for how I might serve those customers better than anybody else? What are they missing? Is there something they long for? 3) Come up with a variety of theories and test the logic-which of these do we think has the best chance to create a win?
15:59 Q - What do you need to create a strategy? 16:59 Q - What is the next step after understanding the customer? 20:26 How many possibilities should a strategy session comes out with? 21:56 Summary 23:25 Q - How many segments can you select to play? 27:51 Q - Is being no 1 a segment in a checkpoint? 30:30 33:30 Q - How do choose the most likely winning option? - What need to be true? What we worry not likely to be true? 35:55 Q - How long does this process takes? 38:00 44:02 50:12 54:09 55:09 57:19 57:49 Management Systems 1:04:49 Summary Management Systems 1:09:57 Q - How do you measure strategy? 1:13:57 Q -
That's a great nugget that I have never heard before from Prof. Roger Martin: "You don't try to kill the competition, you try to convince the competition that they can beat you elsewhere". I guess that this is how you could best tell if your mix of Strategic Choices was successful, besides reaching the Winning Aspirations.
Great insights, Roger! Having been an instructor of "Operational Warfare", my take is that, for any military, the consumer is the NATION. Everything what a military does is to keep the nation 'running' including all the businesses with your flavour of strategies. Thanks!!
strategic thinking in business and personal contexts is in my view one of the most underdeveloped skill that we should all take a pause and commit to developing. valuable dialogue with inspiring insights from both. you should invite him back for another and explore the many layers of how the chances for success can be elevated, and perhaps codified. btw, roger's talk at davos in 2013 is also worth your time.
I agree. Strategic thinking is for personal and business contexts. As the owner of two small learning companies, I've helped entrepreneurs and executives on the one hand and parents/students on the other. It's amazing to see how kids excel once given a framework for decision making. Infusing that method of thinking throughout communities is as difficult or moreso than doing so throughout an organization. Yet, it's a challenge that I've recently embarked upon.
Wow. The min 47 is hitting hard wright on what we're seeing in the today's AI battle, with OpenAI "teaching" Google how to do AI. I'm a big fan of the work of Dr. Roger Martin. Thank you for this masterpice interview.
"Strategy is defined as choices. Choices to do some things and not others. An integrated set of choices about where you are going to play and how are you going to win where you have chosen to play." Great, but that is only part of what Strategy is. More precisely, that may be the definition of Strategic Positioning on Strategy's two dimensions (where-to-play and how-to-win). Multiple companies may aim to achieve the same positioning, but only some may succeed. Why? Because, starting from what capabilities they posses today and what resources they can mobilize (never the same for two separate companies), they may be able to fill the gaps between (X) the capabilities required to turn those Strategic Choices into reality and (Y) the capabilities they currently have. Or may not be able to do that. So, Strategy is about (a) making the right choices (Strategic Positioning), resulting in a required Capabilities System to support those choices and (b) filling the required capabilities gaps to turn those choices into reality (Strategy Execution). Therefore, Strategy without either (a) or (b) is not Strategy. The case of (a) without (b) is Strategic Positioning. The case of (b) without (a) is Operational Improvement (w/o strategic purpose). Neither case fully represents Strategy.
The "tallest local peak" is a good reason to consider a matrix of potential choice types to consider. For instance, if you consider 3-5 choice types for WTP and HTW, you would look at a 3x3 or 5x5, or 3x5 matrix of choice types, therefore considering 9, 25, or 15 combinations. Not all of them may work well together, but one or some of those combinations may potentially be your most successful Strategic Positioning.
Well done Alex, I've seen quite a few Roger Martin interviews. You definitely asked the best questions I've seen to get Roger to share his vast experience and insights. You really listen well and build on his ideas
1. Be the player 2. Rules of the game. 3. Who's your completers . 4. What stg. there're in this game. example 5 marketing stg. 6. What's problem faceing , how to handle .7.What stg. they used in game. 8. How to win the game. 9. Most winners often use is Stg. Mix.
"Strategy and Planning are two different things." That is correct, but only for Strategy as a construct of choices on Strategy's two dimensions and capabilities required to support those choices, resulting from a process called Strategy Formulation, or Strategy Development. At the end of that process, you can say: "This is my Strategy!". Great, but that is only an intention, an aspiration, a statement. As brilliantly might it have been formulated, Strategy as a process, more precisely as Strategy's Management process, incorporates much more than that. Since bringing your Strategic Choices to life requires to fill the gaps between the capabilities that you posses today and those required to support the choices that you have made, you actually need a plan about how will you fill those gaps. You need Strategy Execution, which means Strategic Planning, as a process of producing the consequential Strategic Plan, and the process of executing that plan. So Strategy Management, as process, is Strategy Formulation + Strategy Execution. Therefore, "Strategy and [Strategic] Planning" are not quite two different things. In fact they are the two faces of the same coin: the Strategy Management process.
This is a fantastic video, but the better business schools teach the difference between risk and uncertainty and that data driven strategy’s goal is to minimize uncertainty, not risk.
Unfortunately, aiming to be #1 in your category is a strategic trap. Prof. Michael Porter has articulated that very well in his speeches about "There is no 'best' as an overall caracteristic of a product or service!". Take the example of the operating profit in 2021 as % of revenues for these top car makers: #1 Volkswagen: 6.2%, #2 Toyota: 8.2%, #3 Daimler-Benz: 8.97%, ... #7 BMW: 11.2%. So, becoming #1 is not necessarily a good aspiration to consider in the process of formulating a Strategy. Unfortunately, it's just a distraction. Therefore, forget about it and refocus on a Winning Aspiration that is related to a verified Job-to-Be-Done and a way to provide the solution preferred by the customers having to solve that JTBD. It might not be a car, after all :-) For example, IKEA has this Winning Aspiration: "To become the preferred home furnishing choice for customers looking for good quality at affordable price". Not #1 in revenue, not #1 in profitability, although they are at a very good 13% operating profit (2021).
at 17:55 this is a very generic strategy. I work in transportation, amongst the top 10 players I would say there is no such thing that one does that the other can't do.
Interviewer is really good when it comes to the asking those targeted questions on this topic! very focused, and expands the topic really well!!! 🤎🤎🤎🤎🤎🤎 #subscribed!
2:15 How do you define strategy?
1) Where to play and how to win
2) Strategy vs planning: Complements, not substitutes
11:13 How does Military vs Business Strategy compare?
1) Military: What mattered were our capabilities and that of the competitors’, as well as the things that we will do vs the things they will do
2) Business: Started similarly, but evolved to include and put greater interest in the consumer
3) Strategy for competing vs for winning - which customers will you serve better than everyone else?
16:05 How do you create a winning strategy?
1) Understand your customers really well to develop the capabilities to serve those customers in a unique way.
2) After knowing who your customers are, you enter into the creative act. What’s a theory for how I might serve those customers better than anybody else? What are they missing? Is there something they long for?
3) Come up with a variety of theories and test the logic-which of these do we think has the best chance to create a win?
Thank you !
RUclips is good because of such content - a salute to Mr. Roger Martin
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@@GrowthManifestoPodcast😅😅😅
15:59 Q - What do you need to create a strategy?
16:59 Q - What is the next step after understanding the customer?
20:26 How many possibilities should a strategy session comes out with?
21:56 Summary
23:25 Q - How many segments can you select to play?
27:51 Q - Is being no 1 a segment in a checkpoint?
30:30
33:30 Q - How do choose the most likely winning option? - What need to be true? What we worry not likely to be true?
35:55 Q - How long does this process takes?
38:00
44:02
50:12
54:09
55:09
57:19
57:49 Management Systems
1:04:49 Summary Management Systems
1:09:57 Q - How do you measure strategy?
1:13:57 Q -
That's a great nugget that I have never heard before from Prof. Roger Martin: "You don't try to kill the competition, you try to convince the competition that they can beat you elsewhere". I guess that this is how you could best tell if your mix of Strategic Choices was successful, besides reaching the Winning Aspirations.
Thanks for the feedback!
32:29 It’s a great for customers. REAL CHOICE . Choice. Real choice! Great point.🙌
Love that being good to humanity - thank you Roger.
Great insights, Roger! Having been an instructor of "Operational Warfare", my take is that, for any military, the consumer is the NATION. Everything what a military does is to keep the nation 'running' including all the businesses with your flavour of strategies. Thanks!!
strategic thinking in business and personal contexts is in my view one of the most underdeveloped skill that we should all take a pause and commit to developing. valuable dialogue with inspiring insights from both. you should invite him back for another and explore the many layers of how the chances for success can be elevated, and perhaps codified. btw, roger's talk at davos in 2013 is also worth your time.
Thanks for the feedback!
Agreeeeeeeed. And thanks for the reference there, will check it out.
Great episode. Already knew Roger Martin from his video "a plan is not a strategy" but now also ordered his book. Will arrive shortly.
I agree. Strategic thinking is for personal and business contexts. As the owner of two small learning companies, I've helped entrepreneurs and executives on the one hand and parents/students on the other. It's amazing to see how kids excel once given a framework for decision making. Infusing that method of thinking throughout communities is as difficult or moreso than doing so throughout an organization. Yet, it's a challenge that I've recently embarked upon.
Thanks for the feedback!
Wow. The min 47 is hitting hard wright on what we're seeing in the today's AI battle, with OpenAI "teaching" Google how to do AI. I'm a big fan of the work of Dr. Roger Martin. Thank you for this masterpice interview.
"Strategy is defined as choices. Choices to do some things and not others. An integrated set of choices about where you are going to play and how are you going to win where you have chosen to play." Great, but that is only part of what Strategy is. More precisely, that may be the definition of Strategic Positioning on Strategy's two dimensions (where-to-play and how-to-win). Multiple companies may aim to achieve the same positioning, but only some may succeed. Why? Because, starting from what capabilities they posses today and what resources they can mobilize (never the same for two separate companies), they may be able to fill the gaps between (X) the capabilities required to turn those Strategic Choices into reality and (Y) the capabilities they currently have. Or may not be able to do that.
So, Strategy is about (a) making the right choices (Strategic Positioning), resulting in a required Capabilities System to support those choices and (b) filling the required capabilities gaps to turn those choices into reality (Strategy Execution). Therefore, Strategy without either (a) or (b) is not Strategy. The case of (a) without (b) is Strategic Positioning. The case of (b) without (a) is Operational Improvement (w/o strategic purpose). Neither case fully represents Strategy.
Thanks for the feedback!
Fantastic talk. Thank you for the high quality videos.
Thanks for the feedback!
The "tallest local peak" is a good reason to consider a matrix of potential choice types to consider. For instance, if you consider 3-5 choice types for WTP and HTW, you would look at a 3x3 or 5x5, or 3x5 matrix of choice types, therefore considering 9, 25, or 15 combinations. Not all of them may work well together, but one or some of those combinations may potentially be your most successful Strategic Positioning.
Such a thoughtful conversation about strategy (which I think I understand better now). Good questions and examples too.
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@@GrowthManifestoPodcast I already subscribed hours ago. Cheers.
Well done Alex, I've seen quite a few Roger Martin interviews. You definitely asked the best questions I've seen to get Roger to share his vast experience and insights. You really listen well and build on his ideas
Thanks for the feedback! Glad you liked it!
Thanks for your kind words. I really appreciate it :)
1. Be the player 2. Rules of the game. 3. Who's your completers . 4. What stg. there're in this game. example 5 marketing stg. 6. What's problem faceing , how to handle .7.What stg. they used in game. 8. How to win the game. 9. Most winners often use is Stg. Mix.
"Strategy and Planning are two different things." That is correct, but only for Strategy as a construct of choices on Strategy's two dimensions and capabilities required to support those choices, resulting from a process called Strategy Formulation, or Strategy Development. At the end of that process, you can say: "This is my Strategy!". Great, but that is only an intention, an aspiration, a statement. As brilliantly might it have been formulated, Strategy as a process, more precisely as Strategy's Management process, incorporates much more than that.
Since bringing your Strategic Choices to life requires to fill the gaps between the capabilities that you posses today and those required to support the choices that you have made, you actually need a plan about how will you fill those gaps. You need Strategy Execution, which means Strategic Planning, as a process of producing the consequential Strategic Plan, and the process of executing that plan. So Strategy Management, as process, is Strategy Formulation + Strategy Execution. Therefore, "Strategy and [Strategic] Planning" are not quite two different things. In fact they are the two faces of the same coin: the Strategy Management process.
That was great, guys. Thank you.
Amazing. Absolutely amazing interview.
This is excellent. Thank you.
This is FANTASTIC
Thanks for the feedback! We're glad you liked it.
Thanks for this great discussion! Very informative.
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Such a great interview, thank you!
Thanks for the feedback! Glad you liked it!
Thanks Sophie!
Awesome video. Thanks. You won a sub at first view.
Nice :)
Thanks for the feedback. Glad you liked it!
You guys are so inspring, super Thnx!
Great thoughts and discussion !
This was so helpful! Thank you!
Great talk!!!
Great podcast 🎉❤
Thanks, for more content like this subscribe to our channel or visit www.growthmanifesto.com
Great podcast
Thanks, for more content like this subscribe to our channel or visit www.growthmanifesto.com
incredible. thank you
The very essence of strategy is competitive advantage. It works like a silverbullet: it permeates the whole organisation.
Thanks for the feedback!
(58:07) How do Management Systems help with Strategy? (FOUR SEASONS HOTELS EXAMPLE)
This guy is so good, holy shit
Yeah, this was one of my favourite interviews :)
Thanks! we're glad you liked it!
For startups, can strategy be done solo? At least at the very beginning?
Hi Fatema, of course 🙂
This is a fantastic video, but the better business schools teach the difference between risk and uncertainty and that data driven strategy’s goal is to minimize uncertainty, not risk.
I'm in favour of any solution minimizing risk 🎉
😂 I thought it was just me who noticed “strategy” being abused as a modifier in the office.
good use of my 1 hour of my life.....
Thanks for the feedback. Glad you liked it!
Unfortunately, aiming to be #1 in your category is a strategic trap. Prof. Michael Porter has articulated that very well in his speeches about "There is no 'best' as an overall caracteristic of a product or service!". Take the example of the operating profit in 2021 as % of revenues for these top car makers: #1 Volkswagen: 6.2%, #2 Toyota: 8.2%, #3 Daimler-Benz: 8.97%, ... #7 BMW: 11.2%. So, becoming #1 is not necessarily a good aspiration to consider in the process of formulating a Strategy. Unfortunately, it's just a distraction. Therefore, forget about it and refocus on a Winning Aspiration that is related to a verified Job-to-Be-Done and a way to provide the solution preferred by the customers having to solve that JTBD. It might not be a car, after all :-) For example, IKEA has this Winning Aspiration: "To become the preferred home furnishing choice for customers looking for good quality at affordable price". Not #1 in revenue, not #1 in profitability, although they are at a very good 13% operating profit (2021).
I think there is a misunderstanding with what you think he said. You just illustrated with a clear example (IKEA) what the message he sent through.
at 17:55 this is a very generic strategy. I work in transportation, amongst the top 10 players I would say there is no such thing that one does that the other can't do.
Stg. base on business ethics, to harmonize world.
Strategy
Define where to play
How to win
Stratety to win : how you serve cus better anyone else
How to creat
Understand customer
They look alike
😂
Very much I noticed too 😅
Thompson Daniel Anderson George Garcia Brenda
Chaptersssssss
What does that even mean?
At no point did the name "growth manifesto" get a second glance...like we sure about GROWTH MANIFESTO?
Robinson Laura Robinson Lisa Robinson Daniel
these 2 look the same. that is strategy.
Interviewer is really good when it comes to the asking those targeted questions on this topic! very focused, and expands the topic really well!!! 🤎🤎🤎🤎🤎🤎 #subscribed!
Thanks! For more content like this subscribe to our channel or visit www.growthmanifesto.com