02/07/2009 by Stephen Coe.

As the world begins the slow march out of recession, it may be time to consider what has changed and how will doing business be different going forward. More importantly is to consider how as a company, you yourselves need to change to meet new challenges.

At Balmoral Strategy Development we believe that there is great potential and opportunity in challenging both internal company and external industry orthodoxies and there is no better time than now.

As usual all comment welcome - Stephen Coe, Director at Balmoral Strategy Development Ltd

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03/04/2009 by Stephen Coe.

History provides indisputable evidence that companies with strong forward looking strategies emerge from a recession in a much better position than those that merely work to survive.

Yes times are tough, costs need to be cut. But at Balmoral Strategy Development we believe that companies with forward looking strategies have the potential to redefine their futures.

We urge everyone to cast aside the status quo and orthodoxy ,to be bold, ambitious and act now.

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08/01/2009 by Stephen Coe.

Orthodoxies exist because at some point the process/service/product that they represented made sense.  The problems start when Orthodoxies become so embedded that they are no longer questioned and innovation is stifled.

When this happens companies face 2 major issues

1. Internal business systems and processes become inefficient and become financial and resource drains.
2. The value proposition associated with the products and services that the company offers no longer meet the needs of its customers.

 At Balmoral Strategy Development Limited we urge all companies to setup a process and work-group that is mandated with:

1. Identifying orthodoxies and analysing the impact that they have on the business.
2. Challenging those orthodoxies and developing innovative alternatives.

As usual all comments welcome - Stephen Coe , Director Balmoral Strategy Development Limited

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06/01/2009 by Stephen Coe.

Switch on the news and all we seem to hear are the negative things. News editors seem to revel in sensationalising and exaggerating negative news.

We have to be careful in such an environment that stories of a long deep depression do not become self fulfilling prophecies. There is no doubt that globally we are facing tough challenges , but we have faced tough challenges before and in the light of our new found global co operation there is no logical reason to belief that we cannot once again emerge stronger again.

At Balmoral Strategy Development Limited we believe that innovation is the key. Old thinking and tired business models need to be shaken off, together with last year’s products. Companies need to to look to their customers and develop products and services that will once again be must haves. Companies that do so will emerge stronger and become industry leaders.

As usual all comments welcome - Stephen Coe, Director Balmoral Strategy Development Limited

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15/12/2008 by Stephen Coe.

Will the Christmas season mark the ‘tipping point’ for the High Street as we have come to know it? At Balmoral Strategy Development Limited, we believe that for a number retail segments that may in fact be the case.

In many sectors the Internet is finally delivering on the promises of the late 90’s. In areas such as home entertainment and white goods it is possible within 15 minutes to read product reviews, establish what’s on offer, select your retailer and arrange delivery, confident in the knowledge that that you have made an informed choice and got a good price.

Contrast this to the experience of visiting a city centre store.

• Traffic congestion particularly at the weekend
• Parking costs, which are often exorbitant
• Limited choice, often only demonstration stock, items need to be ordered
• Price generally more expensive than online.
• Precious leisure/family time lost

Many high street retailers have quite simply lost their way, in some cases their ‘brand’ has been diminished to a point where most the consumer no longer understands what the company represents. They have made token efforts at modernisation, by offering their own online sales, but fundamentally they are still pursuing a 19th century business model.

For companies in these segments, the challenge is to offer a value proposition goes beyond price, differentiates them from the Internet box shifters and re establishes a ‘brand’ identity.

For some it may be that the time has passed , but for many there is still an opportunityif they are; bold in approach, caste off ‘Orthodoxy’ and embrace ‘Innovation’

As usual all comments welcome, Stephen Coe, Director Balmoral strategy Development Limited.

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08/12/2008 by Stephen Coe.

Here is a simple exercise with the potential to reduce operating costs.

1. Gather a team that combines a mix of very experienced staff and recent recruits 
2. In a workshop brainstorm your companies key processes
3. Select the top 10 in terms of business impact i.e. cost, resource required, process time.
4. Breakdown each process and consider why it is done that way, then consider ways of changing the process in order to make it more efficient or less costly.
5. Select the top 3 for further detailed analysis.

This exercise challenges the status ; the more experienced in the group will be the source of and defender of company Orthodoxies, the new comers will challenge and ask why things are done in a particular way.

Obviously some Orthodoxies are there for good reason, but at Balmoral Strategy Development Limited our experience has shown that every company has the opportunity to overturn Orthodoxies to its advantage

As usual all comments welcome - Stephen Coe , Director Balmoral Strategy Development Limited

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29/10/2008 by Stephen Coe.

So your core business is threatened and margins are being squeezed. You have ideas about entering new markets, but cash is tight and have decided now is not the time. Your efforts are focused on reducing costs, but progress is painfully slow.

STOP!

Take a step back and consider the high level processes that make up your business system. Ask yourself the question; if I was starting now would I do it this way? Consider successful companies who have faced similar challenges in parallel industries and learn from their approach to solving the problem.

Now look at how you face the customer. Is your value proposition differentiated and does it fully meet customer needs, or is it a me too play?

Challenging the way you do things both internally and externally can unlock great benefits, in terms of cost reduction and market capture.

At Balmoral Strategy Development we like to challenge the status quo, which is why we make the discovery of Orthodoxies a key part of every strategy process.

As always all comments are welcome

Stephen Coe - Director, Balmoral Strategy Development Ltd 

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