The Fear of Being Different

Being different is one of the keys to profitability, however, it is also one of the most feared strategies. Clearly, there are very few success stories about companies that behaved just like their competitors.  This may be because managers feel unusually vulnerable when considering a strategy that builds true distinction for their brand.  In so […]

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Implementation Pitfalls

Implementation pitfalls are common in strategic planning. But why is this – and what can we do about it?  We’ve noticed six very common issues that have hindered execution at companies we’ve worked with, and none of them is intractable. The most common implementation pitfalls are: Overcommitment Poorly defined objectives Poorly crafted implementation plans Hidden […]

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Creating an Environment for Innovation: Innovation Process

Innovation Process In addition to creating an encouraging atmosphere, management must create some procedures to channel the innovation process. Although unstructured thoughts are necessary for brainstorming, they can lead to missed opportunities and wasted resources in the innovation process. The innovation process must be reasonably well structured First, management must create an environment to encourage […]

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Creating an Environment for Innovation – Part Two: Internal Communication

Internal communication is a key component of innovation The innovation process will be better when everyone understands the company goals and objectives.  Additionally, internal communication based on openness and trust helps to set this atmosphere. Internal communication, however, is a weakness in many companies For example, a recent article profiled a well-known company. In the […]

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