WHAT IS THE PROCESS FOR CORPORATE STRATEGY STUDIES

What is the Process for Corporate Strategy Studies

There is a lot of confusion about what corporate strategy is and how corporate strategy studies are different from other types of strategy.

The reality is that most corporate strategy studies take place between 5-10 weeks. You’re going to any company, you can usually complete a corporate strategy study in that time. In the Corporate Strategy and Transformation study on StrategyTraining.com, we took 12 weeks because of the transformation aspect. We did use an accelerated process of the standard approach used in all corporate strategy studies.

No objective function

Corporate strategy is more difficult than other types of strategy since there is no objective function. There is no guide in terms of what you need to do. It is so broad that most consultants get scared and offer more of the same. The guide is missing, and that is what makes corporate strategy very different from other types of strategy.

Greater degree of business judgement is required  

Corporate strategy lacks heavy numerical analysis. And this may be counterintuitive to many people, but true corporate strategy does involve numerical analysis, but it is not as heavy as in other types of strategy. It, however, requires an excessive amount of business judgment. And that’s something that many people don’t really understand.

Many people think you’re just going to have to analyze your way out of it. But it doesn’t work that way. Which is why corporate strategy teams are so elite. It’s not because of the analytic skills advantage. Corporate strategy consultants do have strong analytical skills, but it’s more about the way they interpret things. They have a stronger business judgment than other teams. They have to use the interpretation skills to a greater degree.

Case studies, industry, competitors

A big component of what we do in corporate strategy studies is understanding what’s happening in the sector, industry, competitors, case studies, and so on. That’s not really quantitative, if you think about it. The most quantitative work we do is around sizing different markets. And determining what’s going to happen. Maybe look at profit pools, but that’s about it.

Most consultants don’t really worry about developing these skills. When it comes to case studies, I know that most consultants shy away from them. But the reality is that if you can do case studies, you can absolutely control the direction of a corporate strategy study. You are leading that piece of work, which is going to give direction to the team.

Picking a market

Also, you have to pick a market. You have to decide if you should tell this company to become a media player. It’s hard to predict where markets are going to be. It’s one of the biggest gambles that you make in corporate strategy. You may be saying, “No, that is not true. Of course, analysis can allow you to predict where market is going to be.” But if that were true, then you’re telling me all those guys in Silicon Valley are not really that smart because they’re putting in venture capital money into multiple industries without doing this so-called magic analysis, that you’re aware of, that can figure out where the market is going to be. I don’t think those guys are silly. I think they’re pretty smart.

And that’s a hard thing for people to understand about corporate strategy. Because we grew up in a world where, “Oh, if you do analysis, you are so brilliant. If you build complex Excel models, you’re so smart. If you’re good at numbers, you obviously become a better corporate strategy consultant.” But if you’re only good at numbers, and can’t deal with the soft areas, like extracting themes and case studies in some cases, you’re going to be a horrible corporate strategy consultant.

Remember corporate strategy is different from all other kinds of strategy, because it heavily requires business judgment. It also requires analysis that people do not assume is important in management consulting, like trend analysis, case studies and so on.

To learn more about the process for corporate strategy studies, once you join as Insider or Legacy member, refer to this episode of the Corporate Strategy and Transformation study.

https://www.strategytraining.com/programs/1-5-1

For a limitied time, if you join as Insider (annual membership) save $200 annually by using the following code:

ASCEND200

Don’t miss this opportunity to deepen your understanding of corporate strategy.

Take care,

Kris Safarova

Comments

Post a Comment

Popular posts from this blog

Firmsconsulting

If you're looking for a reliable partner to help your business overcome challenges, Firmsconsulting is the outstanding solution. Their team of professional consultants will work closely with the clients to understand their specific objectives and develop a strategy that achieves measurable results. With the latest techniques and technology at their disposal, professional consultants can help to achieve marketing goals and sustainably grow your business. To find more information, click on the link now!
Read more

Firmsconsulting

In today's fast-paced business world, companies require exceptional skills in investing, problem-solving, strategy, communication, and leadership to stay ahead of the competition. Firmsconsulting is the best platform that believes these skills require creativity, judgment, and fundamental critical thinking abilities. Their extensive library of strategy training is available on the world's most comprehensive OTT strategy streaming training platform. With the help of their consultant professional, anyone can develop the skills needed to navigate the complex world of business and set themselves apart from the competition. Sign up today and gain access to the world-class training you need to succeed.
Read more

Firmsconsulting

In today's business world, investing, problem-solving, strategy, communication, and leadership are more crucial than ever. Firmsconsulting , a leader in management consulting, understands that these skills require creativity, judgment, and fundamental critical thinking. With their exceptional solutions, they set the standard for delivering the best possible results for their clients. They provide the tools you need to tackle any business challenge through their exclusive books and +450 podcasts, making them the go-to source for strategy and management consulting. If you're seeking to excel in your business, connect with a professional consultant through the website today!
Read more