Brainmates - Strategy, Briefly Explained

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Strategy is a term that is often bandied about by many without a crystal clear understanding or definition of what it actually means.
Brainmates have unpacked the term to present a simple view of strategy.

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  • Version 1.2
  • We are consultants and trainersUse product management as a framework to understand the market and what they might need And using the business’ capability, deliver a product that delights customer and delivers some measurable benefits back to the business.
  • Brainmates - Strategy, Briefly Explained

    1. 1. Product Strategy Explained
    2. 2. Who is Brainmates?A product managementconsulting and training businessTo provide experienced ProductManagement to businesses thatwant to truly understand theircustomers’ needs ....Our mission:
    3. 3. ... to develop innovative productsthat their customers love.
    4. 4. Strategy is aloaded term4
    5. 5. What is a strategy?5
    6. 6. Strategy is thecompany’s compass6
    7. 7. Strategy has bothmagnitude anddirection7
    8. 8. Strategy is NOT adetailed plan 8
    9. 9. Strategyguides the actof planning9
    10. 10. Strategy must beresponsive to change10
    11. 11. What the experts say?11
    12. 12. According to Michael Porter...“The essence of strategy ischoosing to perform activitiesdifferently than rivals do.”What is Strategy?Michael Porter, Harvard Business Review, 1996
    13. 13. According to Kim and Mauborgne ...Strategy hinges on thedevelopment and alignmentof three propositions…How Strategy Shapes Structure?Kim and Mauborgne, Harvard Business Review, 2009
    14. 14. Proposition 1:A value proposition thatattracts buyers.
    15. 15. Proposition 2:A profit proposition thatenables the company tomake money out of thevalue proposition.
    16. 16. Proposition 3:A people proposition thatmotivates those working foror with the company toexecute the strategy.How Strategy Shapes Structure?Kim and Mauborgne, Harvard Business Review, 2009
    17. 17. Henri Mintzberg says strategy is ...A PlanA consciously or purposefully intendedcourse of action, a guideline, set ofguidelines to deal with a situation.
    18. 18. Henri Mintzberg says strategy is…A PloyAs a plan, strategy can be a ploy tooutwit an opponent or a competitor.
    19. 19. Henri Mintzberg says strategy is …A PatternStrategy is consistency in behaviour,whether or not intended. A companymay exhibit a pattern in its actions. Thisin itself becomes strategy. There maybe a plan behind these set of actions orthere may not be.
    20. 20. Henri Mintzberg says strategy is …A PositionStrategy as a means of locating theorganisation in the externalenvironment. The organisationsdecision to compete in a specificmarket is itself strategy. (Niche,Ecological).
    21. 21. Henri Mintzberg says strategy is …A PerspectiveStrategy as an ingrained way of seeingthe world. (Some companies areaggressive pacesetters).The Strategy Concept I; Five Ps for StrategyHenry Mintzberg, California Management Review, 1987
    22. 22. Why have a strategy?22
    23. 23. Focus on the right setof activities
    24. 24. To maximise theorganisation’sresources and efforts
    25. 25. What is a product strategy?25
    26. 26. A product strategy is a ...Set of guiding principles+Product goal(s)
    27. 27. The product’s guidingprinciples and goals mustbe underpinned by thebusiness strategy
    28. 28. What do I need to create a productstrategy?28
    29. 29. 291. Strategyrequiresknowledge
    30. 30. 302. Strategy requiresprocess
    31. 31. 313. Strategy requirestools
    32. 32. A process and 10 questions to a productstrategy32
    33. 33. 33ProductPurposeProductGoalsProduct Strategy10 key questions underpinning a product strategy ….Strategic ToolsProduct Plans andRoadmapsFormulating a product strategyCreate Milestonesand Measure
    34. 34. 34Answering 10 keyquestions will help youformulate your productstrategy
    35. 35. 35What is the purpose of theproduct in the market?Question 1:ProductPurpose
    36. 36. 36What is the purpose of theproduct for the business?Question 2:ProductPurpose
    37. 37. 37What do we want the productto achieve?Question 3:ProductGoals
    38. 38. 38Which markets do we wantthe product to serve?Question 4:Product Strategy
    39. 39. 39How do we want the customerto feel?Question 5:Product Strategy
    40. 40. 40What additional value do weneed to develop in ourproduct?Question 6:Product Strategy
    41. 41. 41Who else is offering the samevalue in the market?Question 7:Product Strategy
    42. 42. 42What capability do we haveto create the value?Question 8:Product Strategy
    43. 43. 43What constraints do we haveto consider?Question 9:Product Strategy
    44. 44. 44How fast do we have tomove?Question 10:Product Strategy
    45. 45. Some strategic tools45
    46. 46. Use the following toolsto help answer the 10questions towards astrategy
    47. 47. Customer InsightsBusiness Success Factors: Vision, MissionSWOT AnalysisPorters 5 ForcesCompetitor AnalysisPESTLEScenario PlanningMarket SegmentationValue Curve AnalysisStrategic Risk AssessmentProfit & Loss Statement
    48. 48. Connect with Brainmates48Brainmates Group @Brainmates#prodmgmtFacebook.com/Brainmateswww.brainmates.com.au info@brainmates.com.au + 61 2 9923 8147

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