Why certainty and strategy never go hand in hand
Next time when you are certain about a strategy, remember just one thing. Porter’s consulting firm ‘Monitor’ filed for bankruptcy in 2012.
( By that time I had passed my MBA and thus forgive my marketing professor for teaching me 5 forces like a scared rule to success strategy.)
3 things I have learnt from real people on the job.
They have failed, have been questioned because they were not porters and are learning everyday. ( Plus awesome advice from Prof Robert Austin’s online course. )
- Strategy is never certain, certainly never till the end. Emergent is the keyword. It will evolve everyday with the passage of the project. Learning every day is the only certainty. How can you know what will the competition do next year. That the government will not ban diesel cars in the capital. Think about introduction of NEXA showrooms by Maruti. If you are Hyundai in India that must have hit you in the gut. That is the market you serve . Still plan to stick to the strategy you device half year back. all the best !
- Strategy is as internal, as it is external. The external predictions will set a context. But the internal capabilities will aid you game play. The skill of the player is important in any game. Your strategy calls for capturing the early adopters in car market. But what you build best is the vehicle for mass India. Building right capability and skill is the key.
- Analysis is just an input. Its not strategy. It important to read all that data. The econometric modelling are great. But as inputs. What the user data tell you is the input going into your strategy. It is not your strategy. Take insights from data and use it to your advantage. To think what the competition might be missing.
Do you agree ? Would you add something more to my knowledge ?