3 Essentials of Strategy

Strategy is often hard to define, which makes it all the more difficult to distinguish what actually constitutes a good strategy.

5 Reasons Your Strategy Is Winning or Losing

Statistically, and overwhelmingly, most strategies fail to materialise any value.

After working with over 1,000 companies in the past decade, we have seen our fair share of clients who have consistently executed their strategies — by the playbook — and as a result, created millions of dollars of incremental value. Period on period, year after year.

Others don't... so what's the difference?

Below I've pulled together my top 5 reasons why some create value and others create wastepaper.

Learn about the scenario planning mistakes and how you can prevent them from misfiring your strategy so you can navigate complexity efficiently.

The more specific we can be about our category, the better chance we have to be remembered and related to by our customers. Are you in the right category?

Learn about the scenario planning mistakes and how you can prevent them from misfiring your strategy so you can navigate complexity efficiently.

The more specific we can be about our category, the better chance we have to be remembered and related to by our customers. Are you in the right category?

The more specific we can be about our category, the better chance we have to be remembered and related to by our customers. Are you in the right category?

UPDATE: In a special event, Dr Chris Shambrook of PlanetK2 delivers a masterclass on performance– drawing inspiration from the perspective of Leader, Manager, Mentor and Coach, or what is collectively known as the Four Executive Modes. 

In this interview, the master-coach, author and speaker walks the Step Change community through how business leaders can drive more value into their interactions by moving between these modes. He also talks about the lead indicators of performance, what performance looks like regardless of the mode, and emphasises the appropriate human connection and social support required from industry leaders.

Watch the full video here.

In these times of great change and uncertainty, it is very important that we adapt and utilise the opportunities and resources at our disposal the best we can. This is especially true for industry leaders because every decision has the potential to make or break your organisation.

To begin, you will need to fully define your role as an executive within your organisation by understanding the 4 Executive Modes namely– Leader, Manager, Mentor and Coach. 

Clearly defining these modes will allow you to understand and seamlessly move between these roles, propelling your organisation to even greater heights.

UPDATED: In this exclusive interview, foundational expert and pioneering authority in the field of influence and persuasion Dr Robert Cialdini sits down with Step Change to dive into his book “Influence: The Psychology of Persuasion” — the bestselling and groundbreaking guide to getting that 'yes!'.

From the sustained interest in the Influence factors, and the addition of the Unity principle, to the implications of machine learning and AI in persuasion and more — learn exclusive and fresh insights from Dr Robert Cialdini himself by watching the full interview below:

Wondering how to leverage your influence at a time of great change? Get Dr Robert Cialdini’s latest book “Influence, New and Expanded: The Psychology of Persuasion” — featuring new research, new insights, new examples, and online applications.

Never miss an update and be the first to get influence and persuasion insights by connecting with Dr Robert Cialdini via influenceatwork.com.

Swaying someone to your point of view takes skill. The same can be said when it comes to selling a product — making the power of persuasion a potent tool that should be honed to a fine point.

In this week’s Knowledge Nuggets, let us take a look at the widely adopted classic Influence: The Psychology of Persuasion. 

With over 5 million copies sold worldwide, Dr. Robert B. Cialdini explains the psychology of why people say ‘yes’, the principles behind the power of persuasion, and how to apply these principles ethically — not only in marketing strategy but in everyday situations.

According to Zappos CEO Tony Hsieh, the key to running a successful business is happiness. By developing happiness habits, embracing a happy work-life, and prioritising your customer's happiness, Tony believes businesses can succeed. For this week’s Knowledge Nuggets, let’s explore the book Delivering Happiness and learn to live lives full of purpose, passion, and profits. 

Before attempting any significant endeavour, you should always have a strategy. Having developed one you should always ensure that is achievable. There has been a myriad of companies that have implemented strategies that have turned out to be less than successful. The fact is that many companies are unaware that they are implementing bad strategies.

Thinking Fast and Slow

Have you ever wondered how your mind works? Have you ever desired to improve your judgement and decision making skills? In this week’s Knowledge Nugget, let’s delve into Thinking Fast and Slow by Daniel Kahneman.

The author Daniel Kahneman is a renowned psychologist and Nobel Prize Winner. And in his seminal work, Thinking Fast and Slow, he analyses the two modes of thought and how they affect our judgement and decision making. 

UPDATED as of 28 August 2020

The 4 Disciplines of Execution

Plans and strategies may change. Behaviours, however, not so much. At least, not as quickly. It is important to understand that good execution is not only a condition of knowledge and skill, but it is also a condition of the will. 

How do you, as an organisation, move forward as a team when goals are already challenging enough on your own? The key lies in two words— first principles.

In this special interview, the 4 Disciplines of Execution co-author Sean Covey expertly delivers insights and anecdotes on:

• The 4 Disciplines in a nutshell
• How purpose and discipline affect your execution
• Sustaining your Wildly Important Goal even in the midst of chaos
• What successful organisations are doing right and what others are getting wrong

Too often history shows that a good strategy fails to deliver a productive outcome in terms of the bottomline. Strategy and execution are in a word— inseparable. They are the two sides of the same coin. In order to successfully execute on your goals, you need focus.

One thing you already know about acting on a great idea is the fact that chaos will be involved. It is very easy to lose focus when you have to wade through a quagmire of priorities and goals daily. As teams lose focus, they eventually lose power, which is why you need a game plan.

In this week's Knowledge Nuggets, let us take a look at the 4 Disciplines of Execution by authors Chris McChesney, Sean Covey and Jim Huling, who address the issue of what constitutes the disciplines of excellence in execution of strategy.

When it comes to running a business, it is important that you stand above the competition. And in the dog-eat-dog business world it is no longer enough to just offer great products. It is also necessary to take your customer’s comfort into account. 

What’s the use of having the best tech and services if your customers can’t get a hold of your product in the most efficient way possible? Or if they do get the product, it becomes a struggle to have it repaired or returned. This is where Experience Disruptors come in.

Developing Team Efficiency

UPDATED: Change continues to unravel itself daily. Whether it’s premeditated like a goal you’ve been meaning to achieve or something that’s caught you by surprise such as a pandemic– the truth that change will always be with us still remains.

The choice between simply managing change and leading change, however, makes all the difference.

In a special interview, Scrum Co-author J.J. Sutherland talks about:

• The importance of embracing change and using it for growth
• How Scrum-oriented organisations are faring in the midst of drastic change
• The value of happiness and connection among teams in relation to productivity
• His new book The Scrum Fieldbook: Faster Performance. Better Results. Starting Now.  
• Whether you are setting up a small business or running a multi-million dollar company, team efficiency is what sets you up for success.

In this week’s Knowledge Nugget, let us take a closer look at Scrum by Jeff and JJ Sutherland. 

Understanding different aspects of human behaviour is crucial to every strategy. In this week’s Knowledge Nugget, we’ll take a closer look at Switch by Chip Heath & Dan Heath.

How are today's technologies and current trends shaping and changing the world we live in, and how is it impacting today's businesses?

In this week’s Knowledge Nuggets, we’re covering The Fourth Industrial Revolution by Klaus Schwab, chairman of the World Economic Forum. 

Exponential Organisations

UPDATED: In this Special Interview, Step Change CEO Ashton Bishop picks the brain of Futurist and best-selling author of Exponential Organizations and Exponential Transformation – required reading at the world's top organizations – Salim Ismail.

Hear them discuss:

• The characteristics of successful new business models
• How organisations are changing in order to adapt
• The economic shift from selling scarcity to businesses based on abundance
• How can organisations make money in a demonetised, digitalised world
• Innovation at the edge - the way to disrupt industry

Watch the entire interview below:

Neither size nor depth, nor scale can guarantee the continuity of businesses for tomorrow. We therefore ask the question, what can organisations do to be more future-ready? In this week’s Knowledge Nuggets, a special guest will help you better understand the premise in the book Exponential Organizations by Salim Ismail.

UPDATED as of 10 July 2020

In a special interview with Step Change, Dual Transformation co-author Mark W. Johnson shares valuable insight for businesses looking to reposition themselves in this new normal while creating the future ahead of them.

The business model innovation and new growth strategy expert also discusses:

• The A+B+C model business seeking transformation and momentum should adapt
• What successful businesses are doing right and what others are getting wrong in their transformation journey
• The importance of having a vision and a hands-on approach to leadership

Watch the video now.

Disruption is imminent, and organisations must find a way to be more resilient as they step forward into growth and implement their transformation efforts.

Step Change works with some of Australia’s largest and fastest-growing businesses to effectively communicate business strategy and market insights from the bottom up. 

The new year is here! And as we venture forward with fresh business insights and useful strategy, here are the top 10 articles most popular with C-suites in 2019 that you may have missed. 

Many companies today are opting for procurement to manage their marketing spend. But marketers and agencies have always been at odds when it comes to procurement. Understanding the role that procurement plays and how it impacts marketing is crucial to not only save on costs but to pave the way for better alignment in achieving the brand’s vision.

Customer-centricity used to be something that the marketing department was responsible for. But in the Age of the Customer, it needs to be at the heart of the business, which then ripples right through every department — from operations to marketing, sales, management, legal, and compliance.

In a data-led world, businesses are now able to track more than ever before. But we find that they are falling in the trap of tracking too much. Members of the Board have forgotten that reports rarely advances their strategic position in the market, makes a customer happy, or generates profit. 

The latest economic figures released by the Bureau of Statistics show that the Australian economy is slowing down. What can businesses do to thrive in a recession? We turn to one of history’s greatest strategists and a ruthless warrior, Genghis Khan.

Many Australian companies are complacent about the effect of disruption in their industries. But disruption today can displace market leaders, their products, and their services. Responding to disruption means businesses need to think fast and act fast.

There’s a need for strategy because time, dollars, and focus are scarce and limited resources. A strong business strategy is the application of these resources for maximum leverage.

There’s no getting around it. Today’s consumers hold the power to dictate business outcomes. But with more businesses struggling with their digital transformation initiatives, how can taking a customer-led approach to transformation lead to better results? 

Even with the best ideas to market, many challenger businesses are struggling to get their business from the ground up. But if you’re lucky enough to be one of the very few startups that receive Venture Capital funding, the next step is knowing how to maintain your competitive edge for the next funding round.