15/11/2009 by Stephen Coe.

There is an old adage that you hire a consultant to tell you what you already know. This then begs the question why do it?

Well it is a fact that the concern of senior management is more operational than strategic, it is extremely difficult to step back from day to day life and take in the larger picture. This is where the consultant comes in, unencumbered by day to day concerns the consultant is truly blessed with a unique position. The analogy I like to use is that of an artist who lives under the partonage of a benefactor. Unshackled from the day to day need to provide food and shelter, he is free to paint his masterpiece.

Why is it then that so many strategies lack originality and spark? In my opinion too many strategies are reworked projections based upon historical data. They use the same old tools and  methodology as 95% of the competition, so is it any wonder that they come up with the same result. Think of it in terms of a jigsaw. If everyone as the same pieces they will all come up with the same picture.

To produce a differentiated strategy, a bold new approach is needed. An approach that is forward looking and that stretches the imagination, whilst still retaining sight of a companies core strengths. Returning to the earlier analogy this forward looking approach adds new pieces to the jigsaw and produces an new picture. 

At Balmoral Strategy Development , we have developed processes for companies that want to be different,  We develop game changing strategies that build upon core competence and that position companies to meet future and as yet unarticulated needs of its customers.

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

Posted in Innovation, Strategy Process, Trends, Business Strategy, Competencies | Print | No Comments »

01/10/2009 by Stephen Coe.

I have just returned from the Leicester Business Event 2009 held once again at the Walkers Stadium. I must say that I was impressed by the number of people who took the time to attend the event. The deepest days of the recession maybe behind us, but there are still hard times ahead for many. That is why it was refreshing to see so many people networking and to hear once again talk of growth. What was equally refreshing was the number of new faces in attendance, young SME’s and start-ups busily taking notes and absorbing the advice and information that was on offer.

All the people that I spoke to, recognised the need for a clear strategy, that addresses the changed world that we now live in. This is something that has become a recurring theme of mine for those of you who follow this blog. If you have not already begun the process we at Balmoral Strategy Development encourage you all to do so as soon as possible or run the risk of being left behind.

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

Posted in Competitive Advantage, Strategy Process, Trends, Business Strategy | Print | No Comments »

05/02/2009 by Stephen Coe.

 I have spoken on several occasions of the opportunities that arise during a downturn. We at Balmoral Strategy Development firmly believe that decisive bold strategies  in a downturn cycle have the capability to redefine a market and generate long term competitive advantage for those with the will and determination to answer the call to action.

 Consider the following as a bold alternative to retrenchment

 Five point action plan

1. Assess risk and exposure and put the necessary mitigation in place.
2. Assess competitiors exposure and vulnerabilities.
3. Brainstorm for opportunities to take advantage of competitor weakness, look forward not back, focus firmly on emerging customer needs and indistry trends. 
4. Re-assess competencies, determine what needs to be strengthened or acquired to gain competitive advantage.
5. Develop action plan and implement.

Each of the above has many elements , particular attention needs to be paid to risk and competitor reaction

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

Posted in Competitive Advantage, Trends, Customer Insight, Business Strategy, Competencies | Print | No Comments »

20/01/2009 by Stephen Coe.

I have spoken in the past of the importance of having a ‘green’ strategy, not only for regulatory compliance, but also for growth. In the current climate we at Balmoral Strategy Development Limited believe that most businesses can add an element of ‘green’ to their value propositions and that doing so can provide real differentiation.

 Here is a quick simple process that I urge you all to consider

• Take a look at the products/services that you provide, the need that they serve and the effects they have, both good and bad on the environment.
• Now try some idea generation, focus on reducing the bad and increasing the good.
• Articulate your new value proposition
• Access funding opportunities related to ‘green’
• Developing a marketing campaign and lever your new environmental credentials.

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

Posted in Innovation, Trends, Business Strategy, Environment | Print | No Comments »

15/01/2009 by Stephen Coe.

We all know the traditional methods of segmenting markets, that is by customer buying behaviour. Quite often many companies fall short due to a lack of hard market data and as a result most fall back into a standardised industry segmentation used by everyone, that ultimately provides no new insight and white-space.

At Balmoral Strategy Development Limited we look beyond the obvious. We take into account developing trends and emerging needs to project possible buying behaviours of the future. With this approach we create new market segments that cut across many products, services and geographies.

The insights gained in effect redefine the market, provide the company with a direction and early mover competitive advantage.

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

Posted in Competitive Advantage, Innovation, Strategy Process, Trends, Customer Insight, Business Strategy | Print | No Comments »

30/12/2008 by Stephen Coe.

As we come to the end of the year and personal thoughts turn to new year resolutions, I would urge you to consider the same for your business.

Over the last few weeks I have spoken of the need for a business to have its value proposition aligned to customer needs and to embed a process that promotes innovation.

The last weeks of the year offer several examples of businesses who have failed to do just that. Businesses that grew fat on the good times and who failed to recognise changing customer needs.

Challenging times represent opportunities for the bold and innovative. There is an old saying that to stand still is to fall back , we at Balmoral Strategy Development believe that to be particularly relevant in times of economic downtown.

History has shown that recessions provide opportunities for innovators to overturn orthodoxies and established orders and that even market leaders are vulnerable if they fail to meet the new challenges.

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

Posted in Innovation, Economy, Trends, Customer Insight, Business Strategy | Print | No Comments »

17/12/2008 by Stephen Coe.

Customer needs evolve, but all to often many companies fail to develop their product to meet those needs. Many companies stick to their original business model because it is what they know and it has served them well in the past. They still see the sale of a product itself as the cash generator and all too often fail to recognise the opportunities that surround it.

These very opportunities are usually service based and as such provide the potential for real differentiation. Never has this been more the case than for High Street retailers struggling to compete with the Internet box shifters.

At Balmoral Strategy Development Limited we believe that every product sold has an attached service, which can be added to provide  customer value and competitive advantage. Our strategy processes delve deep into emerging trends and involve deep analysis of the customer. This approach provides insight into ‘pain points’ and is the starting point for a differentiated strategy, which has an innovative business model at its core.

As usual all comments welcome - Stephen Coe , Director Balmoral strategy Development Limited , Leicester, UK 

Posted in Competitive Advantage, Innovation, Strategy Process, Trends, Customer Insight, Business Strategy | Print | No Comments »

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.

Posted in Innovation, Economy, Trends, Orthodoxies, Business Strategy | Print | No Comments »

07/11/2008 by Stephen Coe.

If we believe what we see on the TV and read in read in the newspapers, we are in for a deep and long recession. The question is how will this event effect the psyche of the average consumer?

Will confidence be shaken to the point where we ditch the credit cards, the foreign holidays and become more frugal for perhaps a generation?  The parellels are there from the 1930’s.

Alternatively are we so hooked on our ‘must have it now lifestyles’ that the latest round of interest rate cuts if passed on by the high street banks, will have us all on the ‘buy it now wagon’ again, in time for Christmas?

The Christmas period is always a key indicator and this year more so than ever. Analysis of selling prices on online auction sites can also be illuminating. By February we should have a clearer idea as to how deep the recession will be, however many businesses cannot afford to wait.

I have always subscribed to the view that in any crisis, there lies opportunity. Successful companies recognise that fact and develop strategies that enable them to sieze those opportunities.

A key part in any strategy process is the analysis of Trends. If done well the exercise can provide great insight into emerging  and unmet customer needs. It allows early realignment and offers the potential for Competitive Advantage.

At Balmoral Strategy Development, we have a strategy module dedicated to the identification and analysis of emerging Trends ; their effects on the business, the threats and the opportunities that they present.

As usual all comments are welcome - Stephen Coe -Director Balmoral Strategy Development Ltd

Posted in Economy, Trends, Business Strategy | Print | No Comments »

01/10/2008 by Stephen Coe.

While listening to the news item on the likely loss of jobs in the banking sector, my mind turned to the subject of personal competence and specifically, trying to identify the key competencies required to work at a senior level within a bank.

 My motive was to develop an insight as to where the bank sector casualties might migrate their talents to. I began using a tool that we have developed at Balmoral Strategy Development as part of our Competency Development toolkit.

The tool I used was developed to create a roadmap, which marries career aspirations to competencies development and life experience. The thought was by working backwards I could identify alternative paths that might have been taken.

So far I must admit that I am struggling to really nail the key competencies, so if there is anyone out there with any thoughts on this issue, please post a comment.

Posted in Trends, Business Strategy | Print | No Comments »