Tag Archives: Renew Blue

Strategic Leadership is “Replacing Old Stories with New Stories”

Leaders should see strategy as a narrative arc from the founding to the present launch of a strategic initiative. The techniques of corporate time lines and identifying turning points help with the analysis. Then, future cast for a new vision with these questions:What present problems and opportunities are relevant to our future? What are the scenarios of the future? Where (and over whom) will we find advantage? What are the insights? A current strategic initiative could be seen as an episode of an organization’s history, with a turning point. Continue reading

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Posted in How to Improve Your Story Telling Chops, Transforming the Organization, Useful Practices & Management Tools | Tagged , , , , , , , | 3 Comments

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