Wednesday, February 8, 2017

Some of the Things to Think About When Pondering Firm Strategy

When you are getting ready to engage business leaders about firm strategy, there are some questions I tend to ask myself, and to ask attendees to think about. Here are some of the questions that can help get people in a reflective mode.

Who are our customers?

Most important
Minimum expected value/performance
Important stakeholders
Distribution channels

What is our value proposition?

What problems do we solve
What needs do we meet
What products and services do we supply to meet customer needs
What is the customer’s perception of value
How do competitor offers compare to ours
What alternatives to our products exist
Do we meet all key customer needs

Where are we in the value chain?

What are our key inputs
Core competencies, skills, resources we require
Key partners in value chain, why

How do we earn our revenue?

Why do customers buy from us (instead of another supplier)
What are our most-important revenue sources
What are our most-important cost drivers
Key risks

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