Very much appreciate the effort from this article. The myths (especially 2-6), resonate very strongly with me, and something that I’ve seen over and over in management consulting, client side management, and ad agencies alike. It’s really time that we move beyond silos of comprehension, and towards a more holistic view of how data can support design and planning.
Good little piece not he differences of Apple under Steve Jobs and Tim Case. Specifically around the product introduction. Steve Jobs was not just a great product visionary, but a consummate salesperson. He spent much of the time talking about the business case of why Apple should enter a new space.
Good bit on how Firms are getting into the VC game themselves.
- A bold move does not need to be strategic, but it can be. A bold move is flashy, visible move.
- A strategic move does not need to be bold, but it can be. A strategic move is a move supporting an existing or new strategy. When a move supports a new strategy, it can come across as a bold move.
- Bold and strategic: Ron Johnson’s move to change the ailing JC Penney but radically changing the internal layout and coupon-ing that the brand was known for was a bold and strategic move. Unfortunately that was not a successful move, but it was both a bold move (change format for new customers) supporting a new strategy (revive brand and access a new – younger – market).
- Bold and not strategic: I can’t think of any example here, but if you were to use a POI (Portfolio of Initiatives), this would be a move that would be unfamiliar (to the company) or uncertain (to the industry), with very short term (burst, flashy), with and very large market cap at stake.
- Not bold but strategic: Promoting people from within an organization suffering from staff attrition, low morale due to market instability, or active M&A activity or rumors. Also acquiring small startups to create a portfolio of IP that may not be easily noticeable (i.e. head of the market understanding). These also could be the moves that allow to continue to build up on a strategy.
- Not bold and not strategic: Probably too many fit here. These are the day to day to activities, that at an organization may do. Revisiting vendor contracts, hiring junior colleagues, etc…
A very quick post to get some thoughts down on paper.