At Balmoral Strategy Development are processes ground strategies by devoting significant time to fully understanding a company’s core competencies. It is only then that we move forward into a discovery phase where we seek to identify areas of opportunity, where they maybe leveraged. This approach ensures that the balance is maintained and increases chances of success.

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

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

It is the latter that I will discuss here, as I advocate that strategy development should be handled in a process managed way.

It is far too easy for a strategy team to go off tangentally from their remit into areas that are way beyond the company’s area of competence. It is also the case that teams will get bogged down in the weeds, seeking ever greater levels of data and in doing so failing to see the big picture.

A sound project management approach controls and reduces these diversions, it keeps the team on track and delivers results in a timely fashion.

At Balmoral Strategy Development Limited we adopt an approach that is based upon Prince2 project management methodology.

Listed below are what we consider essential criteria

1.  Each project starts with the creation of a terms of reference, which clearly deliverables, expectations and contraints. This must be signed off by all interested parties.
2. All projects have a steering group , which reviews, assesses outputs and provides feedback throughout the process.
3. All teams potential members are subject to interview and personality profiling. Only when the right blend of experience and personality types are recruited does the project formally begin.
4. All projects are assigned a process/project manager, who is a process expert and experienced facilitator.

I would recommend you all to consider a managed process approach the next time your are considering a strategy develompent project.

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

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

Acquisitions can provide a quick fix, but at Balmoral Strategy Development we would caution against knee jerk action. M&A seldom delivers the benefits claimed when the idea is first mooted.

At Balmoral Strategy Development , we argue that M&A is merely one option to deliver a previously developed long term strategy. Opportunistic M&A is fraught with danger, often the claimed increase in market share and internal efficiency can be gained in other far less risky ways.

A mistake many make is that they focus almost exclusively on balance sheet synergies and fail to pay the necessary attention to issues surrounding company culture. Culture merging is the most difficult to achieve and we believe that it is the single most important reason that a large number of M&A’s fail to deliver. 

In summary we firmly advocate that a validated strategy must come first and that M&A is considered as one of several ways of delivering that strategy.

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

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 

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

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

Reluctance to commit to a new strategy at this time is understandable, many business leaders will feel that it is too soon and far too risky. At Balmoral Strategy Development we feel that that there is far greater risk in delay.

So how do we address the issue of risk? The Balmoral Strategy approach borrows from a process used in engineering called failure mode effects analysis or FMEA for short. This approach attempts to quantify risk in terms of impact and likelihood. Having determined the major risks mitigation plans can then be developed that minimise both the likelihood and impact.

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

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.