Strategy at play
Organizations set vision, mission or objectives that they want to achieve...be it in a time span of 5 years or 10 years or a long lasting goal. This vision, mission or objective is what I would like to call it as first pillar of the foundation for building an organisation.
The second pillar is the resources (be it human, financial, technology or process) that are applied in order to achieve the vision or objective. Business Managers apply their expertise here to drill down the business goals the company wants to achieve into the realistic goals for technical folks to understand. Project managers aid this activity to allot the budget and the required resources like number of people in the team along with deciding on the technologies to be used. Process or methodologies come in later to show how the technology will be implemented to achieve the desired result.
Value, Ethics and Standards being set at the organisation level or by the teams form the third pillar of the foundation base. These are essential for companies to survive in the long run and show case to the customers what drives the organisation. Profit (or rather profitability) matters but not at the cost of this pillar.
Final pillar which I would like to build is the strategy adopted to achieve these goals. This pillar combines the above three pillars for giving them the direction, pace and the required power to move in the direction to achieve desired results. The result would be the value add to the customer and in turn you get the profit too.
If your vision is to develop a product that is unique in the market and satisfies a large customer base and their needs...then already have a competitive advantage of going to the market as a innovator who is being niche. The first mover advantage helps you to conquer the market. You only have to worry about the life span of your product and keep an eye on what supplement can replace your product in the near future. If the industry is in embryonic stage and waiting to be invaded, your product will have double advantage till your competitors catch up.
For instance - The vision I have is for a affordable vehicle that can fly in the air at a particular altitude for daily commuting. Imagine this vehicle can be parked inside the house by folding it after use. I am trying to solve the problem of travel hassles the major cities have and the parking problems in major cities. Even better if this vehicle is run on a solar power and is eco-friendly.
Don't you see the potential such a vehicle has? Now that is my product vision. Was I dreaming too far?
Now let us assume your company makes products that are not so niche in the market but still have a competitive advantage....how about a car that has best mileage and is in affordable price range. What is the risk you see here? How soon does your competitor build a similar car with same mileage or even a better mileage giving one? Your company does have an advantage over others but only for few months or may be for few years to come. The strategy you are going to apply is constant innovation to stay ahead in the market in terms of better mileage giving one. You might have already sensed that you are in the industry that is growing.
In my above examples if there are cars that have better mileage and then a affordable vehicle is invented by someone then think of it as the industry is being shaked out. (Industry shakeout). The only solution to new entrants would be to copy on such new innovative vehicle (Early adopters) or think out of the box to create a completely new one (innovate again).
The second pillar is the resources (be it human, financial, technology or process) that are applied in order to achieve the vision or objective. Business Managers apply their expertise here to drill down the business goals the company wants to achieve into the realistic goals for technical folks to understand. Project managers aid this activity to allot the budget and the required resources like number of people in the team along with deciding on the technologies to be used. Process or methodologies come in later to show how the technology will be implemented to achieve the desired result.
Value, Ethics and Standards being set at the organisation level or by the teams form the third pillar of the foundation base. These are essential for companies to survive in the long run and show case to the customers what drives the organisation. Profit (or rather profitability) matters but not at the cost of this pillar.
Final pillar which I would like to build is the strategy adopted to achieve these goals. This pillar combines the above three pillars for giving them the direction, pace and the required power to move in the direction to achieve desired results. The result would be the value add to the customer and in turn you get the profit too.
If your vision is to develop a product that is unique in the market and satisfies a large customer base and their needs...then already have a competitive advantage of going to the market as a innovator who is being niche. The first mover advantage helps you to conquer the market. You only have to worry about the life span of your product and keep an eye on what supplement can replace your product in the near future. If the industry is in embryonic stage and waiting to be invaded, your product will have double advantage till your competitors catch up.
For instance - The vision I have is for a affordable vehicle that can fly in the air at a particular altitude for daily commuting. Imagine this vehicle can be parked inside the house by folding it after use. I am trying to solve the problem of travel hassles the major cities have and the parking problems in major cities. Even better if this vehicle is run on a solar power and is eco-friendly.
Don't you see the potential such a vehicle has? Now that is my product vision. Was I dreaming too far?
Now let us assume your company makes products that are not so niche in the market but still have a competitive advantage....how about a car that has best mileage and is in affordable price range. What is the risk you see here? How soon does your competitor build a similar car with same mileage or even a better mileage giving one? Your company does have an advantage over others but only for few months or may be for few years to come. The strategy you are going to apply is constant innovation to stay ahead in the market in terms of better mileage giving one. You might have already sensed that you are in the industry that is growing.
In my above examples if there are cars that have better mileage and then a affordable vehicle is invented by someone then think of it as the industry is being shaked out. (Industry shakeout). The only solution to new entrants would be to copy on such new innovative vehicle (Early adopters) or think out of the box to create a completely new one (innovate again).
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