Category Archives: Interpreting Strategy Documents

How to identify important information in strategy formulation documents, to assure effective strategy execution.

Strategic Initiatives Case Study: Best Buy’s “Renew Blue” Turnaround

Renew Blue is the name of a strategic initiative intended to reverse the competitive decline of Best Buy. This article analyzes the initiative’s strategy and raises questions about the correctness of the situation diagnosis. It examines the Renew Blue vision & strategic pillars, and concludes with a list of 7 learnings for leaders of strategic initiatives. Continue reading

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The Business Value Proposition

Leaders of strategic initiatives need to have a working knowledge of the various perspectives on value propositions because organizations often charter strategic initiatives to close the gap (or create advantage) on value propositions. Using Best Buy’s Renew Blue strategic initiative, Greg Githens describes the business canvas approach and VALiD approaches to understanding value propositions. Continue reading

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Advice for Strategic Initiative Charters

Strategic initiative charters are different than typical project and program charters that are expecting a pre-determined result. Greg Githens explains the functions of strategic initiative charter. He provides practical advise such as the “two page” rule and outlines 12 elements that should be found in a strategic initiative charter. Continue reading

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Use the As-Is-&-To-Be Table to Clarify Strategic Initiative Vision

This is a practical technique for strategic initiative vision, similar to gap analysis. It includes a case example of how Greg Githens used it to help a COO and team structure a floundering strategic initiative for better performance. He advises more effort on the To Be visioning and addressing ambiguity. He cautions about the risk of analysis paralysis. This article can help managers involved in strategy formulation and strategy execution. Continue reading

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A Guide to the Three Types of Strategy and Business Model Scope

Strategic initiatives arise to support three types of strategies. Corporate strategies have to do with market selection. Business strategies have to do with competing within a business model. Functional strategies have to do with effective specialization. Each interact with the business model’s value proposition. Continue reading

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L.I.D.S – The Four Leadership Roles of the Strategic Program Manager

Stories, Learning, Integration, and Decisions are keys to good leadership of strategic initiatives. Greg Githens explains that the leader is the Chief of each. Individually and collectively these program manager roles provide a framework for strategy execution. Continue reading

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Two Tools for Describing Strategic Context (Strategic Thinking Part 3)

Greg Githens explains the PESTLE acronym for evaluating strategic context, and the “walk the fenceline” technique. Strategic thinkers have an “outside in” perspective that allows them understand how external context affects strategy. Continue reading

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Growth as a Strategic Initiative

Companies are shifting into a growth mode and we will see more strategic initiatives that emphasize a blend of incremental, platform and radical transformation. The drivers of growth may be strategy innovation, product innovation, or process innovation. It may be organic or inorganic growth, with use of open innovation straddling the two. The leader will need to develop an understanding of what growth means, and apply the described techniques for structuring a strategic initiative to gain growth. Continue reading

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Strategic Thinking (Part 1): A Fight with Ambiguity

Strategic thinking is necessary for execution, as well as strategy formulation. Ambiguity (multiple meanings) is at the heart of strategy, so the Strategic Initiative leader’s top priority is to recognize ambiguity, clarify metrics, and develop sensible action plans. Greg Githens explains how they find the balance of patience and action. Their skillful conversation fosters understanding and gain commitment. Continue reading

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How to Energize Strategic Initiatives with Outcomes

Performance outcomes are time-based trends that serve to crystallize the strategic vision. This “how to execute strategy article” explains that the strategic initiative team builds a cause-effect model. Applying its model, the team develops the strategies that lead to the desired improvement in performance outcomes. Helpful tips are provided. Continue reading

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