I believe in on boarding ways of thinking via models to help drive faster, hopefully consistent practical decisions…to quickly say, ah it’s just another one of those. Most models on their own will lead you astray. However, applying multi-model thinking has statically improved outcomes. Here’s another model to add, from Shane Parrish’s The Great Mental Models Volume 2.
The benefit of the doubt may never be equally distributed; however, everyday individual choices are.
Force Field Analysis essentially recognizes that in any situation where change is desired, successful management of that change requires applied *inversion. Here is a brief explanation of this process:
1) Identify the problem
2) Define your objective
3) Identify the forces that support change towards your objective
4) Identify the forces that impede change towards the objective
5) Strategize a solution! This may involve both augmenting or adding to the forces in step 3, and reducing or eliminating the forces in step 4.
I enjoyed doing this segment with Jeff Lahens, my former business partner, and Jarvis Green, good friend and 2X Super Bowl champion with The New England Patriots… now owner of Oceans 97.
This is a term that describes when an incumbent gladly gives up a lower-end part of the market because the company is motivated to move up market. The motivation to flee is most often fueled by higher gross margins. This is often called “flying under the radar”. For more on this term, read here. http://hbswk.hbs.edu/item/the-innovators-battle-plan.
Managing the Strategy Development Process.pdf
By the end of this module, you will be able to:
This."No muscles without strength, friendship without trust, opinion without consequence, change without aesthetics, age without values, life without effort, water without thirst, food without nourishment, love without sacrifice, power without fairness, facts without rigor, statistics without logic, mathematics without proof, teaching without experience, politeness without warmth, values without embodiment, degrees without erudition, militarism without fortitude, progress without civilization, friendship without investment, virtue without risk, probability without ergodicity, wealth without exposure, complication without depth, fluency without content, decision without asymmetry, science without skepticism, religion without tolerance, and, most of all: nothing without skin in the game." ~ Nassim Nicholas Taleb
Within any company, typically the most valuable resources are centered around the making and the selling organizations. There is no difference in retail; instead it’s the merchandising and store operations organizations, and I would add human resources to being core. Most other functions should be evaluated for their need to be an in-house capability.
When a system operates optimally, when interacting with individuals or groups who mirror the makeup of its creators; yet suboptimally otherwise.
"I think that the key reason people follow retailers and brands on social media is for reasons of lifestyle projection. Either the consumer is living, or wants to live, the brands ideals. For grocers, this would be things like healthy living and sustainability. With the brand ideals as the backdrop, consumers will become sticky if the social feed is educational, informative, entertaining, will save them time and/or money or is otherwise a utility — very much similarly to why consumers want and keep a mobile app installed." ~ Shawn Harris
Retailers are feeling significant pressure as digital takes a greater and greater hold of the industry. Many say that digitization actually brings demonetization. This will result in a massive shift in the share pie for retailers. What once was a great traditional retail business, will become a much smaller primarily online business. I thought I'd take a stab at visualizing that. Thoughts?
"When people talk about Zappos, it’s not just about the great pair of shoes they scored, but the awesome customer service they received. It truly has become a tangible asset that is synonymous with the Zappos brand. In extending the brand to hotels and beyond, the customer satisfaction bar will be set high. Execution will be key to protecting the brand’s equity. Also I could see some Amazon (the parent company) products and services being a part of this." ~Shawn Harris