The Ten Suggestions

In these difficult days or recession, unpredictable business trends and unforeseen business challenges, every creative idea has even greater value.  The following ideas do not quite rise to the status of the Ten Commandments, but perhaps they can be called the Ten Suggestions.

Three Suggestions Before You Disagree With Your Company Strategy:

No strategy is flawless and it’s likely you’ll disagree with some elements of your company’s approach. But no one likes a strategy naysayer. Before you voice your disagreement, do these three things:

1. Understand the big picture. An organization’s strategy is often steeped in complex political issues. Don’t assume you know how or why the strategy was developed. Use your network to find out more about the process and the assumptions and inputs used.
2. Contextualize your concerns. Ask yourself why you object to the strategy.  Are you resisting change? Do you feel you know better? Understand the true source of your concerns.
3. Ask others for input. Look to your peers or other trusted advisers for guidance. Explain your concerns and ask them if they share them too. Hearing what others think can give you valuable perspective.

These suggestions were adapted from “When You Think the Strategy is Wrong” by Amy Gallo, and reprinted from the Harvard Business Review.

Three Suggested Questions Your Business Model Must Answer:

There is little consensus on what a business model should include. Some feel it should cover every detail, while others believe it should simply answer the question of how you intend to make money. You can create a business model that is specific enough to avoid being reductionist but selective enough not to overwhelm by answering these three questions:

1. Why would someone want to buy something from you? Identify your customer value proposition.
2. How will you make money selling it? Articulate your profit model.
3. What, exactly, are the important things you need to do to succeed with the plan? Identify which company resources and which processes are essential to delivering your customer value proposition.

These suggestions were adapted from “A New Framework for Business Models” by Mark W. Johnson, and reprinted by the Harvard Business Review.

Three Suggestions for Keeping Your Action Plan on Track:

The best-designed and articulated plans mean nothing if they aren’t executed. Yet, we have all action plans languishing on a desk or in a drawer never to be carried out. Here are three tips for keeping your plan on track:

1. Make it a living, working plan. Be sure the plan is specific, realistic, and has clear time frames. Don’t bite off more than you can chew.
2. Ask what stands in the way. All plans have potential threats. Whether they include your own waning motivation or your boss’s inability to cooperate, knowing what those threats are can help you prepare to face them.
3. Develop strategies to mitigate challenges. Your implementation approach needs to compensate for or respond to any opposing forces. If threats loom too large, consider revising your plan accordingly.

These suggestions were adapted from “How to Keep Your Action Plan on Track” by Gill Corkindale, and reprinted by the Harvard Business Review.
Take an Imagination-Driven Approach to Management:

Measurement is critical to understanding current and past performance, but data can only tell you so much. Measurement can fall short when you need to predict the future. Many companies have been blindsided by unpredictable changes in the market: see GM and Motorola. To envision the future, use your imagination. Employ qualitative insights, inferences, and logic to help you determine what the future might be like and how your company can adjust, prepare, and be proactive. Think beyond what can be proven with data and use hypotheses and deduction to determine likely scenarios.

This suggestion was adapted from “Management by Imagination” by Roger Martin, and reprinted in the Harvard Business Review.

We would like to thank our friends at the Harvard Business Review for these pieces of business wisdom.