Are you having strategic conversations with your management team?

Strategic conversations provide a framework of direction for your company through the creation of actionable steps that lead to a desired outcome.  How to have strategic conversations? Communication and a circular management approach is key to having strategic conversations with your management team.  These stakeholder’s perspectives create the process of strategic conversations through the wider variety of ideas and possibilities …

Building your competitive advantage

So what is competitive advantage in business? The goal of a business strategy is to achieve a sustainable competitive advantage that allows an organization to outperform its competitors. These attributes may include access to natural resources, location, skills, and new technologies and so on. Advantages should lead to higher margins than those of your competitors. A business’s sustainable competitive advantage …

(Part 1) Developing Strategic Capability and Practical Wisdom

We now understand what the term strategy means to our business and team, but how do you go about developing the management tools to help you create the right strategy? In the next few weeks we will look at developing management’s strategic capability and practical wisdom. Strategic Capability It is said that strategic capability is the “ability to imagine plausible …

(Part 2) Developing Strategic Capability and Practical Wisdom

Practical Wisdom “The ability to take the right actions at the right time and for the right reasons.” To adequately deal with situations that involve human interaction, character is needed.  Aristotle called the character traits that deals most effectively with this interaction practical wisdom.  People with practical wisdom have the moral will to do the right thing and the moral …