Free

Empower Your Business Potential

With NM Corporate Strategy’s Innovative eWorkshop

Are you struggling to bridge the gap between strategy formulation and execution in your business? You’re not alone. Many leaders face the challenge of translating Corporate Strategy into actionable steps that drive real results. That’s why we’re excited to introduce NM Corporate Strategy Inc.’s groundbreaking eWorkshop, “Analyze Corporate Strategy.”

This eWorkshop is designed to empower business leaders with the tools and insights they need to develop strategic intelligence. By curating business-specific information, NM Corporate Strategy helps you curate your business intelligence to make informed decisions, streamline operations, and incrementally achieve your vision and mission.

Key Benefits:

  • Tailored Strategic Insights: Develop precise and relevant information to enhance strategic planning.
  • Empowered Decision-Making: Equip yourself with the knowledge to make impactful decisions.
  • Enhanced Competitiveness: Foster alignment within your business to strengthen your competitive position.
  • Incremental Goal Achievement: Support leaders in achieving their goals step-by-step, bringing the business closer to its strategic objectives.

The eWorkshop is designed for convenience and flexibility. It allows you to work at your own pace and seamlessly integrate different resources as and when needed. It simplifies complex strategies, making them practical and executable for your unique business needs.

Investing in this eWorkshop not only helps in strategic planning but also offers a significant return on investment by driving enhanced results and maximizing overall impact. At just US $5,000, it’s a small price to pay for the exponential value of transforming your business strategy and empowering execution.

Don’t let poor strategic execution hold your business back. Embrace the power of strategic intelligence with NM Corporate Strategy Inc. and unlock your business’s full potential. Visit our product page to learn more and get started today!

Click here to Read Analyze Corporate Strategy White Paper

 

Elevate Your Leadership

5 Critical Strategies for Success

Hey there, ambitious, forward-thinking leaders! Today, we’re delving into essential strategies that promise to turbocharge your leadership prowess. Discover the small yet impactful actions you can implement daily to gradually enhance your effectiveness. While you may not have had extensive exposure, professional training, or abundant opportunities, you inherently possess the qualities needed for exceptional leadership. All that’s required is to harness these skills. By integrating critical and strategic thinking, along with proactive management practices, into your repertoire, you’ll unlock your full potential and lead with unwavering confidence.

Dream Big, Plan Smart: The Essence of Visionary Planning.

You are the architect of your own life, career, and business. What you envision will become a reality, but only if you truly invest the time in defining that vision in detail by listing all its essential attributes and developing a sequential list of all the things you must achieve to achieve each of its essential attributes.

By combining critical thinking with strategic foresight, you’ll craft a vision that inspires and a plan that propels your team toward success.

Spy on the Situation: Critical and Strategic Foresight.

Stay curious about the intricacies of your vision and plan. Envision your plan’s activities chronologically and sequentially and anticipate the necessary actions to execute it successfully. By analyzing strengths, weaknesses, opportunities, and threats, you’ll gain valuable insights into your team’s potential and capabilities. Equipped with this strategic perspective, you’ll be better positioned to make informed decisions that provide your team with a competitive edge.

By effectively managing the execution of this plan and diligently tracking each action’s contribution towards realizing your vision, you will uncover potential risks, identify necessary adjustments, and pinpoint additional critical activities essential for ensuring success.

Stay Agile and Adaptive: Agile and Adaptability.

Navigating the achievement of your goals, career, and the management of your business is symbolically described as a seasoned navigator guiding your ship through ever-changing waters. With proactive management practices, you’ll anticipate potential obstacles and chart alternative courses of action. By fostering a culture of agility and adaptability, you’ll lead your team through uncertainty with confidence and grace.

The truth is that no one can be agile and proactive if they lead blindly. Before you can be proactive, you must curate the information and underpin proactivity and agility. This includes being willing to objectively evaluate your actions, monitor progress and manage risks.

Power of Teamwork: Collaborative Excellence.

Managing the achievement of your life and business goals is a game played with a team, and when you engage a team, you must learn to play the game. Consider Personalities, Preferences, Other People’s Opinions and Points of View, and Values and Beliefs. Additionally, you must strategically manage urgency and transparency and collaborate in problem-solving. It’s a game that must be played well.

Through effective communication and collaboration, you’ll orchestrate harmonious efforts that produce extraordinary results. By leveraging your team’s diverse strengths, you’ll achieve feats that exceed even your wildest dreams.

Embrace Continuous Growth: Continuous Growth Mindset.

If you think you are capable, you will search for strategies, tips, and information to make your vision a reality. If you tell yourself you cannot win against the competitors, you will not try. If you are convinced that you do not have the resources, you will not be resourceful. Incredible feats are achieved when we work against all odds in pursuit of our goals. This demands having a growth mindset, being willing to seek out information, accepting help and recognizing that despite our expertise, there are things we still don’t know. Warren Buffet and Bill Gates are avid readers because they recognize that despite their massive success, they can learn from these books – improve their knowledge, gain new insights, and elevate their thinking and creativity. Even Steve Jobs was open to being coached. Why can’t we?

Just as these titans constantly grow and improve, your leadership skills demand ongoing care. By embracing a continuous learning and improvement mindset, you’ll evolve into the visionary leader your team needs to conquer new frontiers.

Conclusion

Leadership excellence is not just about having big dreams—it’s about having the strategic savvy and proactive mindset to turn those dreams into reality. By integrating critical and strategic thinking with proactive management practices, you’ll unlock your leadership’s full potential and lead your team to unprecedented heights of success.

Take Action Today!

The right time is now, not tomorrow, next week or next year, but Today!

NMCS designs products suitable for any budget and consistently provides FREE Strategies, Tips, and Insights on our Insights Corner blog. Our solutions are custom-tailored for SMBs and leaders who must strategically manage their limited resources, do not have the convenient in-house executive expertise, or regularly operate under time pressure.

Your Most Economical, High-Return Investment. Period!

Leadership Processes – leverages what’s familiar to create practical strategies to develop hard-to-develop skills.

Strategic Decision-Making Framework – a tool designed to help you identify and prioritize your business-specific success factors and apply them consistently, even in high-pressure situations. This framework empowers you to make informed decisions reliably, even when emotions, stress, and memory may otherwise lead you astray.

Strategic Management Journal – a valuable resource for individuals confronting challenges in achieving their desired outcomes. It promotes the cultivation of business-specific intelligence, urging proactive engagement and the execution of plans with strategic insight and execution savviness.

Essential Strategies for Navigating Conflict

Economically Practical Strategies!

Confrontation, conflict, argument, disagreement, dysfunction, debate, and discord are words that exist in the negative sphere of most organizational managers, making them uncomfortable – tempting avoidance when possible. Despite this perceived negativity surrounding these terminologies, these descriptive words are often at the center of innovation when great minds challenge themselves and their team members to conceive truly creative ideas – transformative ideas that differentiate thriving from striving for success.

It is important to note that the words we use to describe the experience influence our perception of a situation’s benefits or drawbacks. I have experienced conflict-avoidant leaders using the term dysfunction to describe healthy debate, while stoic leaders use the word debate to describe dysfunction. The truth is that different individuals can use these words interchangeably to describe the same situation.

Understanding Conflict

Conflict is pervasive within any organization, often arising from differing perspectives, goals, or priorities among team members. However, the true differentiator lies in how organizations navigate and resolve these conflicts. Conflict manifests as tension, disagreement, or discord when different viewpoints or points of interest impede progress toward common goals. More importantly, conflict becomes disruptive when avoided or inadequately managed, leading to decreased productivity, morale, and, ultimately, organizational performance.

The Essence of Conflict Resolution

Contrary to popular belief, conflict resolution is not merely the absence of conflict but rather an active process of addressing and resolving underlying behaviours when evaluating differences. A process that demands engaging in constructive dialogue, negotiation, and problem-solving to reach mutually acceptable outcomes. Effective conflict resolution creates an environment that fosters collaboration, enhances communication, and strengthens relationships within the organizational ecosystem.

Strategies for Effective Conflict Resolution

Emotional Detachment

Negotiation teaches us that it is critically important to separate the person from the problem, and by maintaining a level-headed approach and focusing on the facts and objectives at hand, individuals can better navigate contentious situations without assigning blame, devaluing others, or feeling the need to defend their or others’ actions. A practice that leverages objectivity and promotes creative problem-solving.

SMB leaders are often expected to master many business functions, functioning as the lead resource even in areas that are outside their expertise. In such cases, separating their emotions from the situation eradicates the feeling of being judged because of their lack of expertise, which invites new ideas. A practice that encourages effective problem-solving rather than the previous practice inflates the cost resulting from enforcing suboptimal self-generated ideas.

NMCS Strategic Decision-Making Frameworks provide the framework for inclusive and comprehensive idea generation and objective evaluation of options.

Identify Baseline and Common Goals

Establishing a common understanding starts with establishing an agreed-upon baseline and shared goals from which all discussions can build and a reference point of understanding and agreement, bridging the gap between divergent perspectives when they become too contentious.

The commonly spoken-off issue is the management of the moving goalpost when leaders keep changing their goals to adapt to the ebbs and flows in the environment. More detrimental and destructive is changing strategies to achieve the goal or limited execution expertise—the decision that makes micro shifts on the plan necessary to achieve success. Often, the execution checks and balances details are left undefined; it leaves the path exposed to biases, risk and a widening gap between the desired goal and the current trajectory.

NMCS Strategic Management Journal was developed for anyone who struggles with executing their goals. Whether it is the subjective evaluation of the impact of the ebbs and flows in the environment, missing stepping stones, getting distracted or not tracking progress, this journal fosters a practice conducive to execution mastery.

Active Listening and Constructive Communication

Central to conflict resolution is the ability to understand and rationally evaluate opposing viewpoints. Actively listening to deduce the concerns, context, perspectives, and underlying interests fosters understanding and demonstrates a commitment to finding mutually beneficial solutions, a practice complemented by open, honest, and respectful communication. Encouraging transparent dialogue, expressing concerns assertively yet diplomatically, and actively soliciting feedback facilitate productive discussions and promote mutual respect among stakeholders.

Active Listening and Effective Communication are skills that are developed with intentional practice. They are often limited because many people do not know how to begin to overcome their weaknesses.

NMCS Leadership Processes Elevate Critical and Strategic Thinking book utilizes common practices we are all familiar with and adapts them into strategies anyone willing to improve can implement at their convenience. Strategies that will pinpoint exactly when they need to pause and encourage the other person to elaborate in order to develop an accurate understanding of their viewpoint. It also encourages a person to formulate a counterargument that will address the weakness in their arguments less contentiously, influencing them to listen and collaborate toward mutually beneficial outcomes.

Mediation

In complex or entrenched conflicts, enlisting the assistance of impartial third parties, such as mediators or facilitators, can facilitate constructive dialogue and guide parties toward mutually beneficial resolutions. Knowing your weakness is an excellent starting point; few of us are trained negotiators, equipped to concisely lay out the objective, evaluate opposing viewpoints subjectively and encourage creative problem-solving in contentious situations.

If the cost of a mediator is beyond your budget, consider a self-executed, logical, evaluating, economical solution—the NMCS Strategic Management Journal. It will capture your ideas and provide guided opportunities to ponder their impact and those of your opposing ideas in private.

Conclusion

In summary, while conflict is inevitable within any organization, effective conflict resolution fosters a culture of collaboration, innovation, and organizational resilience. By embracing the tool that complements your practice and strategies, such as emotional detachment, active listening, identifying baseline and shared goals, constructive communication, and leveraging mediation when necessary, organizations can transform conflicts into opportunities for growth, learning, and enhanced performance.

Don’t just wish for the skill; take action today to overcome weaknesses, take the lead, and leverage conflict to benefit your business.

 

Navigating Limited Financial Resources

5 Solutions Tailored for SBMs

Navigating financial constraints is an ongoing battle for small and medium-sized businesses (SMBs). It is understandable that they will exercise due caution before investing money they do not have or could be better spent elsewhere. However, practical economic solutions can be revealed by utilizing strategic management principles, propelling profitability and growth. This article discusses 5 SMBs’ challenges and how NMCS’s solutions empower leaders to achieve business excellence economically.

1: Budgeting and Prioritization

Budgeting and prioritization are instrumental and necessary in the face of financial constraints. Businesses are forced to scrutinize their investments and prioritize sure work over uncertain spending, such as marketing, promotions, systems, and hiring expensive management, among others. Every dollar invested must promise a return or eradicate a problem. Even a seemingly immaterial amount such as $1,000 is a hefty price when in the red.

In dire situations when creativity, visibility, and increased scrutiny are needed, a way to leverage existing resources and expertise to solve problems creatively, measure effectiveness, and build confidence is needed. The problem NMCS Strategic Management Journal was developed to solve. It is a Strategic Management Discipline adapted into an execution tool in a journal format. Nothing could be more practical, simple, or usable for leaders experiencing similar situations.

Strategic Management Journal is a Strategic Management Discipline adapted into an execution tool in a journal format.”

Start with what you have and where you are on your journey because there is no right or wrong time, only now. For less than $200, you can get this business-execution-altering tool and boost the potential of your business’s existing resources. 

2: Embracing Technology:

When businesses face problems, the go-to recommendation is to embrace technology. Cloud-based, subscription-based solutions, automation tools, and digital marketing platforms, among others, are promoted to enhance efficiency and productivity without a hefty price tag. We acknowledge that embracing technology not only improves internal processes but can also create opportunities to reach more customers and boost growth.

Sadly, financially stricken businesses do not have the disposable funding to invest in monthly subscription solutions, especially those that demand months of consulting support to implement a configured solution right for their business needs. At times of intense concern for the operational continuation of a business, leaders must take a step back and reassess the situation – take a practical view and consider their resources, capabilities, budget, and time.  It is crucial for SMBs to recognize that while technology helps solve problems more efficiently, it cannot solve the problem if we do not know what the underlying problem is.

“While technology helps solve problems more efficiently, it cannot solve the problem if we do not know what the underlying problem is.”

SMBs must take a different approach, use incremental problem-solving strategies to get to the root cause, devise a solution, and then, if needed, invest in the right technology solution for their business. The NMCS Leadership Processes, an information-packed, two-hour read, serves as an invaluable handbook, dispelling fallacies and misconceptions that impede creative problem-solving. When confronted with complex decisions, the NMCS Strategic Decision-Making Framework synthesizes leaders’ expertise, company intelligence, and resources to determine the optimal choice for the business. Should you require assistance executing strategies and measuring progress, our Strategic Management Journal is the perfect solution for your needs.

3: Strategic Partnerships:

Strategic partnerships are vital for fostering growth in businesses. These collaborations involve joining forces with complementary products or services to enhance sales or reduce costs through resource pooling. In addition to operational partnerships and business collaborations, strategic management partnerships offer invaluable opportunities for leaders seeking diverse perspectives and avenues to expand their influence. However, engaging management consultants and professional coaches with budget constraints may be challenging for SMBs.

Fortunately, economical strategic management alternatives exist. Whether you are a busy entrepreneur, prefer autonomy, guard against revealing your weaknesses, or face budget constraints, NMCS Solutions caters to your needs. Our resources empower you to apply executive-level insights to your business and evaluate their impact firsthand.

“Whether you are a busy entrepreneur, prefer autonomy, guard against revealing your weaknesses, or face budget constraints, NMCS Solutions caters to your needs.”

Begin your journey with our NMCS leadership processes—a minimal investment of less than $20 and just a two-hour read can revolutionize your approach to problem-solving and imbue you with confidence in your actions. Combine your expertise with our Strategic Decision-Making Framework to amplify decision-making and augment action with our Strategic Management journal. Collaboration extends beyond individuals; at times, the perfect partner is a solution.

4: Flexible Staffing Solutions

Instead of a large permanent workforce, consider flexible staffing solutions. Outsourcing tasks, engaging freelancers, or hiring part-time staff can slash payroll expenses while ensuring access to necessary skills as needed.

Small business owners often struggle with micromanagement and delegation, leading to a work environment with restricted opportunities for career advancement. Due to limited options and financial constraints, they may be unable to afford executive-level managers or offer competitive salaries and benefits. Consequently, many owners find themselves in a self-perpetuating cycle, juggling multiple roles and overextending themselves. In the absence of funding, practical alternatives must be explored – SMBs need to leverage small, impactful, strategic actions.

“In the absence of funding, practical alternatives must be explored – SMBs need to leverage small, impactful, strategic actions.”

NMCS provides a diverse array of digital, self-serve products tailored to various aspects of strategic management. Our Strategic Decision-Making framework and Leadership Processes are meticulously crafted to empower leaders, enabling them to navigate common pitfalls that may disenchant and demotivate staff. When combined with our Strategic Management Journal, these tools streamline your focus toward the most impactful actions, optimizing your time utilization and effectively leveraging existing skills within your organization to drive superior outcomes.

5: Customer-Centric Approach

Establishing customer loyalty and securing recurring revenue is pivotal for sustained success over the long term. This depends on a deep understanding of our customer’s needs and preferences and adapting our products or services to meet those demands. Converting satisfied customers into brand advocates fosters organic growth without the need for substantial marketing expenditures.

SMBs can develop customer-centricity without a costly marketing campaign to inspire customer satisfaction. Consider what your customers value or enjoy, why they return, and what small, impactful acts they appreciate, and elevate those experiences. This commitment is certain to yield significant dividends.

If you are uncertain about where to begin, NMCS’s Strategic Management Journal serves as a guiding light. It is more than just a tool for reflection; it is a catalyst for action. By recording insights and ideas frequently, we can develop customized solutions that exceed our customers’ expectations. It is a journey of incremental progress, continuous refinement, and a commitment to serving our customers with excellence.

“It is a journey of incremental progress, continuous refinement, and a commitment to serving our customers with excellence.”

Conclusion

Many businesses have made the mistake of investing in solutions without adequately considering their company’s unique circumstances, only to face challenges during implementation and ultimately incur disappointing results. When in doubt, it is prudent to begin with economical tools to help realign your business, expertise, resources, and expectations. NMCS solutions aim to circumvent these struggles, so investing your hard-earned limited resources will generate positive returns.

Get all 3 products for less than $300.

A mere $300 investment pales in comparison to the immense value these products can generate for your business. The beauty lies in the fact that you can utilize them independently, at your own pace, and according to your convenience. There is no need to spend thousands of dollars on consultants when you possess the intelligence and insights necessary to succeed, readily available at your fingertips.

Take action today!

Strategic Management Journal: https://nmcorporatestrategy.com/product/executive-journal-strategic-management-journal/

 

 

Strategic Decision-Making Framework: https://nmcorporatestrategy.com/product/nmcs-strategic-decision-making-framework/

 

 

Leadership Processes: https://www.azonlinks.com/B0BW2WR715

 

 

 

Be Strategic

The Crucial Role of Critical Thinking

In business, flawed critical thinking can frequently masquerade as assumptions posing as strategies, unwavering beliefs obscuring the path forward, and dysfunction being accepted as mere environmental turbulence. This deception leads to rising operating costs, diminished profitability, heightened frustration, and a dearth of viable solutions, despite considerable investments by the company. Central to these challenges is the collective thinking process. Overlooking critical thinking isn’t just a managerial misstep; it’s a high-stakes gamble that puts at risk the very foundation of effective leadership and untapped opportunities.

“In the face of these challenges, there emerges a glimmer of hope.”

In the face of these challenges, there emerges a glimmer of hope. Enhancing critical thinking becomes the guiding light for leaders seeking to navigate the complexities. It allows decision-makers to assess situations in a structured, organized manner to increase the depth and scope of considerations, incorporating relevant and critical criteria. The journey toward cultivating critical thinking is an investment in individuals and the fabric of resilient and forward-thinking business management. This article sheds light on the importance of critical thinking, emphasizing its pivotal role in organizational success and adaptability.

The Foundation of Critical Thinking:

Critical thinking is a cognitive process encompassing the analysis, synthesis, and evaluation of information to make informed decisions. It extends beyond mere problem-solving, incorporating the development of a comprehensive understanding of complex situations, the foresight of potential outcomes, and the assurance that all actions are not only problem-solving but also in strict alignment with the corporate strategy. This strategic alignment ensures that decisions and actions contribute positively to the overarching corporate strategy or, at a minimum, do not conflict with it – increasing the scope of the business intelligence considered and leading to better-informed decisions.

Better Informed Decisions:

At its core, strategic management revolves around shaping an organization’s future to fulfill its strategic objectives while ensuring profitability. Critical thinking plays a pivotal role in empowering leaders to shift through vast amounts of data, recognize patterns, and extract key insights without losing focus on its Overarching Goal. It serves as a compass, guiding towards more effective decisions, and minimizing the risk of costly errors. Moreover, critical thinking prompts leaders to explore information that might otherwise be overlooked, thus enhancing the quality of their actions.

Navigating Uncertainty:

The business environment is inherently uncertain, marked by rapid changes and unforeseen challenges. Critical thinking equips strategic leaders with the agility to adapt to unexpected circumstances while staying true to their Strategic Path. Instead of relying on rigid plans, organizations can cultivate a culture of continuous evaluation and adjustment, ensuring resilience in the face of uncertainty.

Innovative Problem Solving:

Strategic management often involves addressing complex problems that demand innovative solutions. Critical thinking encourages professionals to approach challenges with creativity and open-mindedness. By questioning assumptions and exploring alternative perspectives, leaders can uncover novel strategies that drive innovation, set their organizations apart from the competition and avoid strategic convergence.

Effective Communication:

Clear communication is a cornerstone of successful strategic management. Critical thinking enhances the ability to articulate ideas, strategies, and decisions coherently. Leaders who think critically can convey complex concepts in a way that is easily understood by various stakeholders, fostering alignment and buy-in across the organization.

Overcoming Cognitive Biases:

Strategic decision-makers are not susceptible to cognitive biases that can cloud judgment. Critical thinking acts as a safeguard against these biases by promoting objective analysis and consideration of diverse viewpoints. Leaders who actively engage in critical thinking are better equipped to rule out personal preferences, ill-advised influences, and skewed insights in making unbiased decisions that align with the business’s current and long-term strategic objectives without unintentionally introducing risks.

Conclusion:

In the ever-evolving business environment, strategic management and the ability to think critically are not just assets but necessities.

By fostering a culture of critical thinking, organizations can navigate uncertainty, enhance decision-making processes, and promote innovative problem-solving. As the importance of critical thinking continues to grow, it stands as a cornerstone for building resilient, adaptive, and successful enterprises in the modern business environment.

You will not master the art of Critical Thinking by learning new strategies and gathering strategies; those ideas must be put into practice, reinforcing the fact that Critical and Strategic Thinking can be developed with intentional effort. Check out this easy-to-follow, easy-to-understand, easy-to-apply, concisely written mini-book for those who are interested in a bulletproof approach to developing their critical and strategic thinking skills.  Leadership Processes – elevating Critical and Strategic Thinking

Also, Explore our Strategic Decision-Making Framework to enhance the quality of your decisions. This comprehensive tool is designed to guide you through the decision-making process, ensuring thoughtful consideration of various factors.

And if Execution is an area in need of some attention, don’t miss out on our Strategic Management Journal—a powerful execution tool crafted to increase the likelihood of achieving your goals. This journal serves as a practical companion, assisting you in implementing strategic plans effectively and navigating the complexities of strategic management with precision

Be Strategic!

Easy to Not So Easy

Sitting across from your boss and receiving criticism for not quite nailing that supposedly easy goal can’t be easy or pleasant – it is an all-too-common experience. We get it; that moment when success slips through our fingers, and what we thought was a walk in the park makes us question our abilities. Those who genuinely reflect, learn and grow.

What’s even more daunting is the realization that the boardroom is not immune to this experience. Management meetings should be inherently challenging, especially in dynamic environments with aggressive growth goals led by ambitious leaders; we convene to dissect our performance, address challenges, and foster a space for creative problem-solving. However, the collaborative atmosphere takes a hit when the dialogue shifts from contributions to excuses. That one individual who consistently elaborates on problems – be it a lack of resources, time constraints, or unexpected emergencies – rather than discussing progress. While everyone else is engaged in moving forward, this person remains fixated on setbacks, leaving us to wonder why their narrative always revolves around problems rather than progress.

Our patience may run thin, and our enthusiasm for our once-eager colleague may diminish; however, it’s essential to recognize that there could be genuine reasons behind their extinguished contributions. Understanding these reasons can help us to help them get back on track.

“If it is not a gap in their expert knowledge, then it must be execution-oriented.”

Easy becoming Not so Easy.

Not everyone excels at executing goals; when execution is overlooked, it’s easy to lose control without realizing it. Effective execution is paramount, especially when striving to achieve ambitious growth and transformation goals, regardless of how seemingly simple or straightforward the activities may be.

It’s not uncommon for leaders less experienced in project management to confront challenges such as underestimating the time required to complete the goal or its activities, procrastinating to complete tasks until the last moment, or attempting to tackle incongruent tasks simultaneously. These difficulties are compounded by the demands of their busy day job, further exacerbating their struggles.

Easy becomes Not so Easy when either one of two things happens.

Discipline: Discipline is a pivotal element in goal execution, demanding consistent and persistent action to complete activities as planned. Being disciplined is even more crucial when goal attainment is not a top priority or when numerous urgent tasks compete for your attention. It’s advised not to rely solely on motivation but to establish a system that aids in staying on track.

Compounded Effect of Delay: The compounded effect of delay, stemming from practices such as procrastination, postponement, deprioritization, or last-minute adjustments, amplifies and complicates the consequences of inaction. This phenomenon is particularly pronounced in project management, extensively discussed under the topic of how to manage the critical path. While goals are typically designed to be completed within a longer timeframe than usual, complete with built-in buffers, the depletion of these buffers and oversight of dependent relationships can quickly transform the delay of activities spanning a few months into a crisis. Addressing such crises demands additional allocation of resources and effort to re-establish control to get back on track.

Embolden Execution

There exists a myriad of tools and systems that leaders can invest in to enhance their ability to manage goal execution effectively. These tools enable a meticulous breakdown of activities, relationships, start and end dates, and resource and budgetary requirements. However, even with these detailed insights, a crucial element is often overlooked, causing many leaders to fall short of successfully achieving their goals.

Easy does not have to become Not So Easy. Leaders can boost their goal execution strategically, strengthening their efforts and overcoming weaknesses. To make these strategic tools effective, they should include tracking progress, reviewing completed activities, problem-solving, critical thinking, and the flexibility to make timely adjustments.

Embolden their goal execution by strengthening the process of carrying out a plan or task. The right tool will strengthen your goal execution and boost goal achievement with confidence, determination, and a proactive mindset. Infuse energy, courage, and boldness into your actions to increase your chances of achieving your goal.

Managing Progress goes beyond managing your project plan. Goal attainment demands intentional management – the periodic and frequent reviews of activities, an assessment of the impact of actions, and an evaluation of forecasted activities. Only through this can you ensure nothing was missed or forgotten, empowering you to proactively address any budding issues threatening the smooth execution of your task. It demands a tool like the NMCS Strategic Management Journal. It is more than just a well-designed journal; it’s a system designed to elevate goal execution, a tool that spans any timeframe, can start at any time and is versatile, so you don’t lose any pages. Start, stop, or miss a month without having to skip over any section.

Action:

We make our products accessible regardless of your budget and preference. Choose our downloadable PDF or our bonded book version. We also created a premium hardcover with additional insight for the individual who treasures their creative ideas and periodically reflects on their journey.

NMCS STRATEGIC MANAEMENT JOURNAL

or check out out published version on Amazon – Published Strategic Management Journal

Be Strategic

RhymeTime – Decision & Regrets

In the hustle of our daily lives, we find ourselves navigating a maze of tasks, expending energy and resources in the pursuit of effectiveness. Often, amidst the chaos, the realization eludes us that we hold the reins to many challenges that shape our experiences.

It is this very insight that serves as the spark for the words that follow—a poetic expression that fuses the realms of art and intelligence. This isn’t merely a collection of verses; it’s a reflection on accountability, a recognition that the solutions to many of our challenges lie within our grasp.

As you delve into the lines that unfold, consider them not just as words on paper but as a call to awareness, a marriage of thought and creativity. These verses invite you to ponder, to introspect, and to find inspiration in the synergy of art and intelligence.

Enjoy this journey of self-discovery and empowerment. Embrace the insights woven into the fabric of each stanza. May the marriage of art and intelligence within these verses kindle a flame of inspiration within you.

As you reach the final verses of this poetic exploration, consider the inspiration that has unfurled within you. The journey through art and intelligence has been a testament to the power of introspection and self-awareness.

Now, if you find yourself compelled to take charge, to seize the reins of your narrative, we extend an invitation. Elevate your decision-making prowess with our Strategic Decision-Making Framework—a carefully crafted guide tailored not only for business leaders but also with practical applications for every facet of your life.

Invest in this framework, and witness how it transforms decision-making from a task to an art form. It’s more than a toolkit; it’s a compass for navigating the complexities of life’s choices. Take the lessons learned here, merge them with strategic insights, and embark on a journey where each decision becomes a brushstroke on the canvas of your success.

May your path be illuminated by the wisdom gained, and may the choices you make be the stepping stones to a future crafted by your design.

Mastering the Art of Strategic Decision-Making

Practically speaking, Strategic Decisions are simply Decision that considers the Business’s Corporate Strategy, in addition to the decision’s objectives, ensuring that the decision is in harmony with all facets of the business. At the epicentre of all successful organizations are leaders who make strategic decisions. They holistically approach all business actions and decisions by considering the following:

  • The business’s overarching goals – Vision, Mission, or Purpose.
  • The business’s Current State, ongoing project, restrictions, culture, and environment, and
  • The critical elements of the decision.

In this article, we will explore the intricacies of strategic decision-making and provide insights into what leaders must consider to bridge the gaps undermining the effectiveness of their decisions while aiding the organization to navigate complex challenges and seize opportunities.

The Fundamentals of Strategic Decision-Making

An effective decision process takes a holistic approach to the decision, cohesively integrating business intelligence, insights, experience and strategy.

  1. Business Information-Driven Decision Making: Business Intelligence is the bedrock of strategic decisions. Leaders must gather and consider pertinent information in the context of the decision objective and within the broader business, encompassing ongoing initiatives and long-term goals, rather than relying on intuition alone.
  2. Critical Thinking: Leaders must employ critical thinking to evaluate complex situations objectively. They deconstruct problems into manageable components, identify root causes, and explore various solutions while staying above the fray. An analytical approach that ensures that decisions are based on a comprehensive understanding of the situation.
  3. Vision and Long-Term Perspective: Strategic decisions should be aligned with long-term vision while considering the potential future consequences of the current decision. Leaders collaborate closely to define and refine their solutions, ensuring all decisions support or further this goal.

A strategic decision-making process is one that effectively and systematically evaluates the decision options presented within the realms of:

  1. Problem Identification and Problem-Solving: Leaders work to identify the specific problem or opportunity that requires attention. This involves defining objectives and understanding the context in which the decision will be executed to address a Business Problem.
  2. Business Growth and Improvement: Leaders understand that all decisions, no matter how seemingly minor, impact business in some capacity. Their decision will either create a positive impact or a potentially negative ripple effect across the business.
  3. Collaboration, Execution and Feedback: Leaders’ objective when making decisions is to ensure that their decisions are implemented and they receive feedback on the effectiveness of their decisions on the business. Fundamental to making informed decisions is to influence the team to adopt and execute them.
  4. Team and Partnership: In spite of the locality of any decision, leaders are aware of the fact that decisions either detract from or inspire teamwork and partnerships, which is the foundation of a strong business. People follow leaders whose judgement they can trust, those they can rely on in a crisis who have their best interest and the company’s interest at heart.

Challenges in Strategic Decision-Making

The challenge with decision-making is often not in the leader’s intention but in the fundamental gaps in the decision-making processes they employ. Some of these challenges include:

  1. Cognitive Bias: Leaders must be aware of cognitive biases that can cloud judgment and lead to suboptimal decisions. These biases include confirmation bias, anchoring, and overconfidence.
  2. Resistance to Change: Implementing strategic decisions can face resistance within an organization. Professionals must be skilled in change management to overcome these obstacles.
  3. Confidence: Lack of confidence in the leader’s ability to make informed decisions based on sound -judgment.
  4. Uncertainty: The limited consideration of external factors, such as economic fluctuations or unforeseen market shifts, can introduce uncertainty. Leaders should develop strategies to manage and mitigate risks.

Conclusion

Strategic decision-making is the key to business success. By amalgamating business intelligence, critical thinking, expertise and a long-term perspective, leaders can navigate the complexities of decision-making and guide organizations toward achieving their objectives. In an ever-changing environment, the ability to make sound strategic decisions is crucial for staying ahead of the competition and ensuring long-term success.

To learn how to make Better Strategic Decisions, explore
NMCS Strategic Decision-Making Framework here!

Red Herring in Strategic Management

Have you ever felt as if the real issue at hand is not being addressed? Despite the validity and importance of every argument presented, it only served as a distraction from the actual problem. Yet, you cannot shake the feeling that every attempt to discuss the issue is redirected toward another seemingly less urgent matter.

In the context of Strategic Management, a “Red Herring” typically refers to a misleading or irrelevant piece of information that can divert attention or distract from the main issue or objective. It is often used as a metaphor to describe something that appears significant but is, in fact, a false trail.

Traditionally “Red Herring” was used in negotiation as a deliberate strategy to divert the attention away from the topic of discussion to a topic of lesser importance. This tactic allows negotiators to bring up the original topic later, under more favourable conditions or without facing challenges.

Whether using “Red Herring” in Strategic Management is intentional or not, the negative impact on the business remains the same, ultimately affecting the bottom line—profit.

Red Herring Strategy

The Red Herring Strategy in Strategic Management is quite common in the board room and management meetings to argue for one’s recommendation. Yet, it cannot amply be proven without being accusatory and committing career suicide. However, not all is lost; there are valid leadership strategies that can be used to counteract the use of Red Herring in Strategic Management, Strategies that coherently align the actions and decisions of the business with its business goals.

1: Clearly Define and Communicate Business Goals:

The cornerstone of any successful business is a leadership team collaboratively working toward common goals; goals they buy into, are inspired by and are motivated to work toward achieving.

Establish clear and well-defined business goals that are aligned with the Organization’s Mission and Vision. Communicate these goals effectively to all stakeholders, including the board members and management team. When red herrings are introduced, refer back to the established goals to ensure discussions and decisions remain focused.

2: Foster a Culture of Evidence-Based Decision Making:

Another cornerstone of success is teamwork, and teamwork is inspired when leaders create an environment that fosters transparency, collaboration, and creativity.

Encourage a culture where decisions are based on objective evidence and thorough analysis. Emphasize the importance of data-driven decision-making and request supporting evidence for any claims made during discussions. Encourage critical thinking and constructive questioning of the information presented, focusing on its relevance to the decision at hand.

3: Establish Decision-Making Criteria:

How leaders make decisions, what information is considered and how they evaluate the information presented before making a decision is rarely questioned, if at all. And only upon reflecting after an ill-informed decision negatively impacted a business is when the gaps in the decision-making process revealed. Even after gaps are apparent in the decision-making process, the process isn’t questioned, improved or steps taken to correct.

Develop a clear set of decision-making criteria that should be considered when evaluating options. These criteria can include alignment with business goals, financial feasibility, market potential, risk assessment, and strategic fit. When a red herring is introduced, evaluate it against the established criteria and assess its impact on the decision-making process.

4: Assign a Devil’s Advocate Role:

Too often, poor judgement falls through the cracks because team members are afraid to question the fallacies in their peer’s decisions, thinking or arguments, negatively impacting the organization.

Appoint a designated devil’s advocate in meetings to challenge ideas and arguments presented. This role is responsible for questioning the validity and relevance of information, ensuring that red herrings are exposed and addressed. Rotate this role among team members to promote a fair and balanced approach.

5: Conduct Post-Mortem Evaluations:

Similar to point 4 above, often, when a business decision fails, the decision is discussed superficially, and everyone moves on. The problem resurfaces differently with varying degrees of damage to the business – some minor and others more severe. The underlying issue builds in severity until it erupts into a significant loss, followed by swift actions – reprimand or dismissal.

After meetings, conduct evaluations to assess the effectiveness of decision-making processes and identify any potential red herrings that may have influenced the discussions. Use these evaluations as learning opportunities to refine future meeting strategies and improve decision-making processes.

By implementing these strategies, you can create a more conducive environment for effective decision-making, minimizing the impact of red herrings and ensuring that discussions and decisions remain aligned with the business goals.

Practical Execution:

The execution of these strategies is discussed in more detail in Leadership Processes, elevating Critical & Strategic thinking, with practical instructions:

1: To collaboratively define clear goals from the Business’s Corporate Strategy

2: To develop the information to minimize red herrings and realign the leader’s actions to the business’s agenda

3: To develop your own unique, coherent decision-making process, with insights to question any fallacies impacting the quality of your decision.

Also, check out the other articles in NMCS Insights Corner for additional tips, strategies and insights to help with other business challenges.

Additional References:

Leadership Processes – elevating Critical & Strategic Thinking

NMCS Insights Blog

Reach out to NMCS – we provide practical strategies even the busiest leaders can execute without breaking the bank or disrupting the organization.

(Un)Ethical Practices

In today’s extremely competitive environment, professionals who get ahead are even more aggressive than their counterparts, aggressively going after that sale, hustling to get that next opportunity, or towing the lines to get the edge ahead of the competitor. Regardless of the “game”, at the end of the day, there is right, and then there’s wrong.

The challenge isn’t one’s ambition but their ethical practice. Professional Ethics. The guidelines determine whether the action is right, questionable, or unethical. Regardless of the reasons or excuse one gives, at the end of the day, there’s the Right Thing to do, Hustling with Zealous Integrity, or doing what’s Wrong.

Sign of the Blurring of The Grey Area

Some businesses, leaders and people with opportunities get their big break or succeed because they strive in the grey area. They learn the system, figure out the loopholes and then take advantage of them, leaving their competitors at a disadvantage without legal recourse. Do you know anyone, or are you aware of anyone in this situation?

No one ever started off blurring the ethical line in business; it evolves over time with one micro-indiscretion, then once they get away, take the bigger and bigger risk until it becomes their modus operandi.

One-way professionals start blurring the grey line is by assuming they have equal ownership of a co-worker’s work without first discussing it with them or asking, especially if that work wasn’t published for distribution.

I recalled this bitter-sweet experience a while back. My supervisor invited me to a meeting to discuss a project with one of the senior resources from head office. I felt proud being invited to the discussion requiring my professional expertise, especially since I recently earned my stripes by completing phase 1 of a multi-million-dollar project in an impossible seven months.  A project I worked tirelessly on effecting organizational change in communication, management practice and transparency at a level previously seen as too risky to the business. Working late nights to ensure that the business valued from the project and that it wasn’t just another case of software parading as a solution; being plastered on top of core issues as a fix.

Despite my youthful naivety, something felt off. It would have been more appropriate to provide a heads-up as to the organization plan instead of coming across as hijacking my work and only engaging me after they failed to understand the strategy.

Then it all shattered when I realized that the project plan they wanted to discuss was my project, copied and modified to replicate the solution in another office. Not only was my work butchered, but it was taken without any notice or heads up. Instead, I was sitting in a room with two senior members of the organization, educating them on project management, including explaining my critical and strategic thinking practices. At that moment, I felt cheated. I don’t mind sharing my work, training people, and helping when needed, but I do mind people assuming because I made it look easy that it was easy, assuming ownership and then, when they fail, to not explain or apologize, but expect me to help them.

I did it out of respect for my supervisor but lost some respect for my co-worker. Prior to this experience, I admired that person; after this, not so much.

Just Unethical:

Insider Trading, Trademark Infringement, Misleading Marketing Practices, and Manipulated Financials Statements are just a few common, highly damaging examples of unethical practices. Less obvious unethical practice includes Plagiarism, Pollution, and Abuse of Positional Power; which are decisions to pursue a course of action you know to be unethical yet decides to continue anyway because the chances of being caught are low.

Consequences:

Every action has consequences, whether the consequence is immediate or not. Plagiarizing someone’s work and presenting it as yours may not be called out; however, the person being cheated will eventually find out, it will be upsetting, and they will talk.

Peter Diamandis captures the essence of the consequence of unethical practice in his quote, “Bad news sells because the amygdala is always looking for something to fear.” The brain does not forget; it lives on as a lesson to remember, a message to share so others do not suffer the consequence you did, and also, because humans love justice, they will get involved when they notice an injustice being done. It is human nature in us to want others punished for their unjust behaviour.

“Bad news sells because the amygdala is always looking for something to fear.” ~ Peter Diamandis

Customer review, Social media and Networking Storytelling are means by which unjust practices can take on a life of their own; so before deciding to take an unethical risk, consider the real cost – damage to your reputation, damage to the business and even worst, your damage reputation through association, will impact those you love. It is not worth it.

Ethical, Sustainable Strategies:

Don’t despair; there are ethical strategies to give you the tools to get ahead and elevate your work experience so you stand out the right way and develop your ideas into solutions others will want to purchase. The best part is that it doesn’t have to take years; you can start benefiting in months with consistent practice. See our products page for more detail. Products – NM Corporate Strategy

Closing

If you want help or need coaching, reach out to those you admire – your mentors – because most successful people are willing to give back by helping others aspiring for success in their expertise. But do not assimilate their success as your own. This strategy may gain you short-term rewards; however, this practice will steal your credibility in the long term.

So, avoid the temptation to take the easy way out and make bad decisions which compromise yourself and the business.

It is also worthwhile to emphasize that not because you can get away with questionable action or that the other party has little to no legal recourse; doesn’t mean that it should be done.

Additional References:

Reach out to NMCS

– we provide practical strategies even the busiest leaders can execute without breaking the bank or disrupting the organization.