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Corner office strategy transformation


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Corner office strategy transformation

  1. 1. Transforming Corner Office Strategy into Frontline action Why and how come some businesses in volatile business environment flourish and why others fail?
  2. 2. Why do businesses fail? • They fail because they are not effectively communicating with their employees. • They are not following strategic principle.
  3. 3. Strategic Principle • The strategy should guide a company’s allocation of scarce resources, time, money and labor and brand. • Strategic principle is effective principle which defines what you need to do. • It should be same for everyone, employee, Employers, managers and ground force.
  4. 4. Problems with the Strategy • Well yes there can be problems with it. • If everyone is a decision maker, then there will be no uniformity in the company and this needs to be taken care of.
  5. 5. Defining attributes of strategic principle • Trade-offs between competing resource demands. • Testing strategic soundness • Setting clear boundaries within which employees should operate.
  6. 6. Strategic principles in Action • Without action, the plans are useless. • Company needs 80 to 100 ratio. • 80% strategy and 100% implementation • Forcing trade offs at south west airlines.
  7. 7. Forcing trade off at South West airlines • It is one of the world’s greatest success story in aviation industry. • This airline hasn’t lost any money for past 25 years. • Stock price rose up to 21,000% between 1972 to 1992.
  8. 8. HOW???? • Careful network design • Service offering • Route selection • Pricing • Cabin design • Ticketing procedure
  9. 9. That’s because The trade-offs required by strategic planning were clear.
  10. 10. Testing Action at AOL • AOL, one of the most biggest media giant in US. • Employees 5600 people • Operating since 34 years • Share worth 50
  11. 11. • Created platform for do it yourself investors. • Empowering employees • Simple plans
  12. 12. Experimenting within boundaries • Vanguard group • $65 Billion assets • Empowered employees to decide what’s good for the company. • Communicating with customers • Established online trading accounts
  13. 13. Strategy • No Strategy is eternal. • You need to change by time. • Improving technology • Embracing Change