You are currently browsing the Strategy Update @ Balmoral Strategy Development weblog archives for August, 2009.
- Alliances (2)
- Business Strategy (49)
- Competencies (10)
- Competitive Advantage (7)
- Customer Insight (7)
- Economy (13)
- Environment (2)
- Events (1)
- Innovation (14)
- Introduction (1)
- Orthodoxies (7)
- Strategy Process (19)
- Technology (1)
- Trends (10)
- Uncategorized (2)
- Value Chain (1)
- 22/11/2009: Getting the balance right
- 15/11/2009: Choosing the right consultant
- 27/10/2009: Strategy Development Needs Strong Management
- 01/10/2009: Leicester Business Event 2009
- 09/09/2009: Merger and Acquisition - Is it a good idea?
- 28/08/2009: Do you have a competency development plan?
- 04/08/2009: Drive Growth Through Innovation
- 02/07/2009: Post Recession - What will be diiferent ?
- 23/06/2009: Strategy - Managing the Risk
- 03/04/2009: Be strong , go long
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Archive for August 2009
Do you have a competency development plan?
28/08/2009 by Stephen Coe.
Competitive advantage is vested in a range of competencies which when combined provide a level of uniqueness. Sustainable competitive advantage requires maintenance of that level of uniqueness through continual development. Competencies themselves are a complex combination of; skills, processes, technologies and assets.
This is recognised by leading companies worldwide, which is why most have set up formalised competency development processes.
At Balmoral Strategy Development Limited we term this a competency development plan and it is a fundamental element of our strategy development work.
We also believe that this overall process can be cascaded down to an individual level and have created a process whereby competency development plans can be created for all employees.
Synthesis of these plans then allows company needs to be matched with the aspirations of its employees in an holistic way, with obvious benefits to all.
As usual all comments welcome - Stephen Coe - Director Balmoral Strategy Development Limited
Posted in Competitive Advantage, Business Strategy, Competencies | Print | No Comments »
Drive Growth Through Innovation
04/08/2009 by Stephen Coe.
Lack of real innovation causes stagnation and eventual decline. Real innovation fulfils a unmet need whether it be known or unarticulated. Innovation makes lives easier or richer. Innovation is not about a continual adding of features not offer little or no benefit. In the past decade we have seen sustained growth and consumers have been eager to lap up anything on offer. It became to easy for companies to grow with little to no innovation.
Cast your minds back 5 years and how many new products and services have really made a significant difference to our lives?
Post recession we are likely to see a new class of customer. A consumer who is more thrifty with their cash, more product savvy and much more demanding. Recycling and repackaging the same old value proposition will not be sustainable.
At Balmoral Strategy Development , we believe that innovation should be woven into the fabric of every company’s DNA. It is why we give it so much focus during our strategy development projects.
I urge you all to start thinking INNOVATION today.
As usual all comments welcome - Steve
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