Changing Your Strategy to Improve Your Business
1. Introduction
- Opening remarks and personal perspective on strategy.
- Overview of the presentation’s goals: to share practical insights and takeaways.
2. Defining Strategy
- Simplifying strategy: the “what,” “why,” and “how.”
- Emphasis on the importance of execution and delivering on strategies.
- Identifying organizational goals and the “end game.”
3. Starting with a Snapshot
- Assessing your organization’s current state:
- Core beliefs and strengths.
- Competitive landscape.
- Aligning passions with market demands.
4. Simplicity and Clarity in Strategy
- The danger of overly complex strategies.
- Importance of articulating a strategy in one or two clear sentences.
- Ensuring alignment and understanding across the organization.
5. Addressing Potential Failures
- Anticipating challenges and market conditions that could derail strategies.
- Evaluating risks such as product development delays or key staff departures.
6. Leveraging Strengths and Addressing Weaknesses
- Focusing on organizational strengths and their alignment with market opportunities.
- Identifying and protecting against weaknesses.
- Understanding and exploiting competitors' weaknesses.
7. Tools and Methodologies
- SWOT and TOWS analyses for actionable strategy development.
- Prioritisation framework: Simplify, Quantify, Prioritize.
- 80/20 principle: focusing on activities that provide the greatest value.
8. Challenges in Execution
- Overcoming human inertia and resistance to change.
- Motivating teams through quick wins and clear communication.
- Focusing efforts on 1-3 key goals to maximise success.
9. Measurement and Accountability
- Shifting from backward-looking metrics (e.g., P&L reviews) to forward-looking lead metrics.
- Creating scorecards for team alignment and accountability.
- Establishing clear, singular performance metrics for individuals.
10. Tools and Resources
- Examples of effective tools: Execution plans, scorecards.
- Recommended reading list for further learning:
- Good to Great by Jim Collins.
- Thinking, Fast and Slow by Daniel Kahneman.
11. Closing Remarks
- Reiterating the importance of focus, clarity, and adaptability in strategy.
- Open invitation for further discussion and exchange of ideas.
Presenter
James Stevens
James Stevens is the Chief Executive Officer of Preformed Windings, a leading organisation in the design and manufacture of high-quality coils for rotating electrical machines. With a background rooted in engineering and business leadership, James has quickly established himself as a forward-thinking strategist passionate about delivering sustainable growth and operational excellence.
Since taking the helm at Preformed Windings, James has guided the company through significant strategic pivots, focusing on quality-driven differentiation and aligning organisational capabilities with market demands. He is an advocate for simplifying complex challenges and emphasises the importance of execution in achieving strategic goals.
An engaging speaker, James blends technical insights with practical business acumen, sharing valuable frameworks such as SWOT, TOWS, and the 80/20 principle. Beyond his role at Preformed Windings, he is committed to fostering collaboration across industries and driving innovation to tackle challenges in an ever-evolving market landscape.
When not leading Preformed Windings, James is a keen reader and enjoys exploring ideas on organisational behaviour and decision-making, drawing inspiration from works like Thinking, Fast and Slow and Good to Great.
