Tag Archives: Best Buy

Volatility, Uncertainty, Complexity, & Ambiguity (VUCA)

Greg explains how to resolve volatility, uncertainty, complexity, and ambiguity for a strategic initiative. He also provides a critique of the so-called VUCA prime model (vision, understanding, clarity, & agility) concluding that the VUCA prime model is only 25% valid.
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Posted in Competencies of Strategic Initiative Leaders, Incremental Benefits Delivery, Useful Practices & Management Tools | Tagged , , , , , , , | Leave a comment

Three Tips for Leading Strategic Alliances

Strategic alliances are a growing subset of strategic initiatives. A Strategic Alliance is a relationship between two or more parties where they collaborate to capture an opportunity or extend their reach into complementary areas. Author and consultant Greg Githens has participated in many strategic alliances, both as a leader and as a consultant and offers three tips that will increase the probability of success. Tip #1 – Meet in Person, Frequently. Tip #2 – Find and Articulate Strategic Insights. Tip #3 – Explicitly discuss risks, risk tolerances and risk response strategies. Continue reading

Posted in Program & Portfolio Management, Success Principles for Strategic Initiatives, Useful Practices & Management Tools | Tagged , , , , , , , , , | Leave a comment

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

Posted in Examples of Strategic Initiatives, Interpreting Strategy Documents | Tagged , , , , , | 3 Comments

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

Posted in Examples of Strategic Initiatives, Interpreting Strategy Documents, Success Principles for Strategic Initiatives, Useful Practices & Management Tools | Tagged , , , , | 4 Comments