When CEOs should rethink their strategy

Over the years, Corporate Strategy Institute has conducted regular CEO research to help us keep abreast of the major issues affecting our clients. It has never ceased to amaze us how many CEOs and Boards of Directors keep doing the same thing and expect different results.

Many CEOs and Boards do not know when to create a new strategy. Maybe asking yourself some critical questions will help. Answer the following questions True or False:

1. Is the growth on the top line insufficient with no reversal in sight?

2. Are your costs greater than the return on the investment?

3. Are the profits continually shrinking in a pool of bloody red competition?

4. Have your resources run out but the strategy hasn’t been fully executed?

5. Are you behind the curve in your strategy execution?

6. Do you and your Board think the general corporate performance is unacceptable?

7. Has the supply exceeded demand in your markets?

If you answered True to some or all of these questions, it is definitely time to rethink your strategy, perhaps utilizing some new tools designed to help you do just that. Blue Ocean Strategy tools are created to help you find new markets to serve that are not now inhabited by your competitors.

You can jump start your new trend by utilizing the tools from the Blue Ocean Strategy process. These tools are designed to help you think differently about your customers, your non-customers and your competitors.

For a free “how to” for the Strategy Canvas tool, email me at info@corporatestrategy.com. www.corporatestrategy.com

Posted by Dr. Sarah Layton in Growth, Organizational Strategy, Strategic Planning on October 13, 2008.