Today, I’m going to explain how to look for hidden opportunities and risks in your organization using a weighted SWOT analysis. This strategic management tool allows you to calculate your options, which leads to decisions that are risk intelligent.
Facing the good and bad of the past year takes courage, especially in re-living painful experiences. But self-evaluating the highs and lows in your past year is just the first step.
Sharing your findings with the entire world takes it to a whole new level.
In this post, I’ll talk about the benefits and downsides of making your Year In Review public, and why we’re afraid to fail.
It’s that time of year… to review whether you have reached your goals!
As a business owner, you may feel ready to leave last year behind and move forward—especially if you’ve experienced failure: Disappointing sales, high staff turnover, unpaid invoices, frustrating delays, or negative outcomes.
But we shouldn’t avoid talking about failure. It may be easier to talk about happy things, but there are just as many (if not more) reasons to review the unpleasant ones.
In this post, I’ll explain the benefits of using a Year In Review, and how to start.
Your strategic plan doesn’t belong in a cabinet like a set of fine china. In my last post, I talked about the many benefits of using a Strategic Planning Framework:
- a clear vision for the future
- foresee vulnerabilities and dangers
- identify areas of healthy growth
- effectively get control of your company
This simple tool answers 3 important questions:
- Why are we doing this?
- What is required?
- How will we do it?
Within these questions are a variety of areas that should be included in your strategic planning process. Let’s look at each of them in more detail.
My great-grandmother, like most women in the early 1900s, had two sets of dishes. One was a plain set for everyday family meals, and the other was a very fancy set that she only brought out on special occasions. Each plate, cup, and saucer was decorated with a design of delicate pink roses, curled ivy, and a beautiful gold inlay that encircled the scalloped edges.
She left the set to my grandmother, who then passed it on to my mother, who quickly discovered that fine china with gold detail is no match for the power of a modern dishwasher. The inconvenience of hand-washing every single item (and the risk of chipping or breaking the dishes) was too great. So those heirloom dinner dishes were hidden away in a china cabinet and only emerged on rare occasions.
As a strategic risk expert, I believe many leaders treat their strategic plan like a set of fine china. They know their plan is important; they invest time and money to create it. The final plan is detailed, logical, and beautiful.
But… instead of integrating the plan into daily decision-making and problem-solving, they treat their strategic plan like a fragile treasure that belongs in a filing cabinet. Instead of applying the plan across all aspects of the organization, it is hidden and ignored until the next planning cycle begins.
In this post, I’ll explain why the “fix it and forget it” planning process is dangerous, how a Strategic Planning Framework can help you identify potential risks in the planning process, and the 3 big questions it can answer.
When you hear the words “Dante” and “Inferno,” your initial thought is probably something like this:
- Some guy named Dante wrote it a long time ago
- It’s a book about the levels of hell
- The Catholic faith has something to do with it
- There’s something about “comedy,” but not in the traditional sense
- I might have read the book in high school
Up until recently, that’s pretty much all I knew about this classic work. But what gems of wisdom are hidden in those lyrical texts? I decided to find out.
Feng Shui is an ancient Chinese philosophy linked to Taoism, represented by an exchange of Yin and Yang energy. The idea is that we can create balance in our environment and interactions.
One of the tools in Feng Shui is the “Lo Shu” or Magic Square, also known as the Bagua Map. It was developed based on a turtle shell pattern with a 3×3 pattern. Each of the nine squares has a corresponding number, as seen below.
In this review, I’ll explain how this planner works, what I liked about it and what I didn’t, and how you can make the most of it in your yearly planning.
Watch the video, or keep reading below.
I recently had a great e-mail exchange with my long-time mentor, who is the CEO of an engineering company in the Midwest.
He asked me how things are going.
Here was my response:
This is the final in a 3-part series about Pain and Decision-Making.
In previous posts, I described ways to see pain objectively, and how to identify pain points, and ways to fix them. In this article, we’ll be examining some difficult topics that most leaders tend to avoid.