SME Strategy is a management consulting firm that specializes in helping organizations with their strategic planning process. We work with teams to facilitate conversations about strategic direction and business strategy so that our clients can focus their energy on what will move them forward faster.
An immigrant from South Africa, Elon Musk is an inventor, entrepreneur, investor and multi-billionaire. After dropping out of a Stanford PhD program, Musk went on to create and sell his first technology company to Compaq Computer Co. for over $300 million (USD). After that, he and his brother created what we know today as PayPal, before selling to eBay for $1.5 billion in stock. Finally, he had the funds to start a private space exploration company called SpaceX, as well as an electric vehicle company called Tesla shortly after. Along with having an involvement in other companies such as Solar City, Neuralink, and the Boring Company, Musk’s success has amassed him a net worth or over $19 billion.
Successful projects and programs should be governed by a clear strategy, which should be designed to deliver business benefits. However, it is surprisingly easy for the work carried out as part of these programs or projects to drift off of the intended course or to become misaligned from the wider strategic objectives.
From program management, through to team building training, there are a number of steps that can be taken to improve this alignment. Below are four outlined steps that explain how they can contribute towards a situation where project work and business strategy are pulling in the same direction:
For this episode of our Strategy and Leadership Podcast, we were joined by Carey Rome, the CEO of Cypress Resources. Referring to himself as a “recovering CPA” , Carey started his career in accounting, and eventually moved into other areas of business, leading to positions as CFO, COO, and now CEO. Throughout his various roles, Carey has developed a wide understanding of business operations and a passion for strategy development.
Time and time again, organizations book strategy days, plan retreats and spend money on strategic planning sessions that don’t produce any lasting results. The session may go well and produce a sensible and comprehensible plan for everyone to follow, but progress hardly takes form. The plan barely gets off the ground before it’s pulled back down to business as usual.
In today’s ever changing business environment led by technological advancement and a shift in the nature of supply and demand, some organizations are being left behind while others thrive. Some cling to old methodologies and technologies while others are stuck in constant pursuit of the next new thing. While there is no one ‘right way’ to run an organization, we can be sure of one thing: The organizations that survive and prosper will be the ones that are quick on their feet to adapt in the face of change.
Moneyball is a 2011 movie based of Michael Lewis’ book that details the Oakland Athletics baseball team and their 2002 season managed by Billy Beane (played by Brad Pitt). The team has one of the smallest budgets in the league, which prompts Beane to enlist a young Yale economics graduate to use data and analytics to build his new and unusual team. After a wildly successful season for the usually poor-performing Athletics, people recognize his conviction and the success of his strategy using undervalued players. Along with many valuable lessons on business, Moneyball also provides useful insights on executing a strategic plan, leadership and creating change.