Turning Strategy Into Action

©2013 Sequent Learning Networks

Webinar: July 2013

“Turning Strategy Into Action:Using Product Line Strategies to Drive Your

Organization’s Success”

Presenter: Bob Caporale


• Currently serves as President of Sequent Learning Networksand the Product Management Executive Board

• Over 20 years experience in Product Management, Marketing, and Strategic Development

• Held President/General Manager positions and executive level positions in Product Management, Marketing, Engineering and R&D for large (>$2B) global corporations

• Specialties & Accomplishments:• General and business unit management • Corporate acquisitions, integrations, line extensions, and divestitures• Strategic planning, presentation, and communication• Product launches and post-launch product life cycle management

• Contact:• [email protected]• http://linkedin.com/in/bobcaporale

Bob Caporale

www.SequentLearning.com +1 (212) 647-9100


Sequent Learning Networks

ORGANIZATIONAL DIAGNOSTICS

TRAINING AND ADVISORY SERVICES

TOOLS AND RESOURCES

Mission: To Elevate the Skills and Capabilities of People in Product Management and Marketing

To Improve Organizational Effectiveness, Systemically and Holistically, so that Companies can improve the Success of their Products in Chosen Markets

Contact:SequentLearning.com+1 (212) 647-9100



Product Management Books by Steven Haines

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Visit Amazon.com or your book reseller to get your copy today


What Is Strategy?

• From BusinessDictionary.com:

• From Merriam-Webster’s Online Dictionary:

(1) : the science and art of employing the political, economic, psychological, and military forces of a nation or group of nations to afford the maximum support to adopted policies in peace or war (2) : the science and art of military command exercised to meet the enemy in combat under advantageous conditions

strat·e·gy

1. A method or plan chosen to bring about a desired future, such as achievement of a goal or solution to a problem.2. The art and science of planning and marshaling resources for their most efficient and effective use.

strategy



Military Analogy

• From the Online Etymology Dictionary (www.etymonline.com):1810, “art of a general,” from French stratégie, from Greek strategia “office or command of a general, “ from strategos “general,” from stratos “multitude, army, expedition,” literally “that which is spread out” + agos “leader,” from agein “to lead”.

strategy

• OBJECTIVE: To win the battle• VARIABLES:• Your strengths and weaknesses• Your enemy’s strengths and weaknesses• The battlefield, terrain, and environment

• STRATEGY:• Process the variables and come up with a plan to achieve the objective

• TACTICS:• The steps you take to execute the plan

TRANSLATION



Game Analogy

• From Wikipedia (referring to Game Theory)

“In game theory, a strategy refers to the rules that a player uses to choose between the available actionable options.”

strategy

• OBJECTIVE: To win the game• VARIABLES:• Your strengths and weaknesses• Your opponents’ strengths and weaknesses• The field of play and environmental conditions

• STRATEGY:• Process the variables and come up with a plan to achieve the objective

• TACTICS:• The steps you take to execute the plan

TRANSLATION



What Does It All Mean?

Establish an objectiveSize up the variables

Develop a plan to achieve the objectiveExecute on the plan



What Does It All Mean?

Establish an objectiveSize up the variables

ANTICIPATE WHAT MIGHT HAPPENDevelop a plan to achieve the objective

Execute on the plan



TacticsThe actions we will take to execute the strategy

StrategyHow we will achieve the objective

Applying Strategy to Business

GoalThe objective that we want to achieve



TacticsThe actions we will take to execute the strategy

StrategyHow we will achieve the objective

Applying Strategy to Business

GoalThe objective that we want to achieve



Example

Goal:• To grow sales of laptop computers

Strategy:• In order to grow sales, we want to create a laptop to replace desktop

computers

Tactics:• Move the DVD drive to the front• Move the power button from under the lid• Allow easier access for ports

“Strategy provides the context for action.”



• A clear strategy helps companies to achieve a desired outcome

• A clear strategy rallies teams around a common goal and around a common plan to achieve that goal

• A clear strategy allows employees to see the “big picture” and to better understand why certain actions are taking place

• A clear strategy empowers teams to develop effective action plans

• A clear strategy inspires teams to win!

The Importance of Having a Clear Business Strategy



Survey Question #1

How well do you know the strategy of your company?

a) I am fully aware of and can formally recite my company’s strategy.b) I directionally understand my company’s strategy, but I cannot recite it

formally.c) I believe that my company has a strategy, but I am not aware of what it

is.d) I do not believe that my company has a formal strategy.



Developing a Business Strategy

“Essentially, developing a competitive strategy is developing a broad formula for how a business is going to compete, what its goals should be, and what policies will be needed to carry out those goals.”

- Michael E. Porter



Strategic Context for Product Management



Strategic Context for Product Management



A Strategic Framework for Product Managers

ProductPrice

PromotionPlace

Strategy

Tactics

Goal

Customers

Trends

Competition

People Processes Systems

Investors

Company



Applying the Strategic Framework

• STEP 1: Establishing the Goal

• STEP 2: Developing the Strategy

• STEP 3: Building the Tactics

• STEP 4: Ensuring the Foundation is in Place

• STEP 5: Execution – Turning Strategy Into Action!

12345



STEP 1: Establishing the Goal

ProductPrice

PromotionPlace

Strategy

Tactics

Goal

Customers

Trends

Competition


Investors

Company


1


STEP 1: Establishing the Goal

• Understand where you are onthe life cycle curve

• Establish high level objectives:• Introduction: Grow market share• Growth: Grow revenue and profitability• Maturity: Maintain market share and maximize profitability• Decline: Reduce costs and maintain profitability• Exit: Migrate customers

• Ensure that your goals are in line with overall corporate objectives



STEP 2: Developing the Strategy

ProductPrice

PromotionPlace

Strategy

Tactics

Goal

Customers

Trends

Competition


Investors

Company


2


A good strategy:• Helps you to achieve your vision• Helps you to differentiate from your competitors• Helps you choose what not to do, as much as what to do• Will drive cross-functional team behaviors on a daily basis• Can be communicated in 3-5 bullet points

It’s all about anticipating the moves of:The Market

The CompetitionThe Industry

STEP 2: Developing the Strategy



STEP 3: Building the Tactics

ProductPrice

PromotionPlace

Strategy

Tactics

Goal

Customers

Trends

Competition


Investors

Company


3


STEP 3: Building the Tactics

Sports Analogy

Anticipate

Strategize

Choose Your Plays

Game Analogy

Anticipate

Strategize

Choose Your Moves

Business Application

Anticipate

Strategize

Choose Your Actions



STEP 4: Ensuring the Foundation is in Place

ProductPrice

PromotionPlace

Strategy

Tactics

Goal

Customers

Trends

Competition


Investors

Company


4


STEP 4: Ensuring the Foundation is in Place

People• What are your core competencies?• Do you have the resources to execute the strategy?• Do you have the expertise to execute the strategy?

Processes• What process disciplines will be required?• Do you have the internal culture to execute on the

strategy?

Systems• Do you have the systems required to support the

strategy?• Can you give the customer the COMPLETE end-to-end

experience that the strategy requires?



STEP 5: Execution – Turning Strategy Into Action

ProductPrice

PromotionPlace

Strategy

Tactics

Goal

Customer

Trends

Competition


Investors

Company


5


STRATEGY

ACTION

STEP 5: Execution – Turning Strategy Into Action

Communication/Storytelling

Leadership/Inspiration

Ownership/Accountability

Focus / Agility / Execution

ProductManager

Cross-Functional

Team



Cross-Functional Teams

IT/Dev

Marketing Finance

Operations

Sales



Survey Question #2

Do you utilize formal cross-functional teams within your organization?

a) Yes – to manage projects onlyb) Yes – to manage products across the entire product life cyclec) Yes – to manage both projects and productsd) No – we do not use formal cross-functional teams



Business Unit Strategy



Strategic Alignment

Corporate Strategy

Product LineStrategies

Product LineStrategies

Product LineStrategiesProduct Line

StrategiesProduct LineStrategiesProduct Line

StrategiesProduct LineStrategies



Strategies



Strategies



Strategic Focus

Product Line StrategiesMarket Focus

Market Strategy

Product Strategy

Operations Strategy



Strategic Focus

Product Line StrategiesOperations Focus

Operations Strategy

Product Strategy

Market Strategy



Strategic Focus

Product Line StrategiesProduct Focus

Product Strategy

Operations Strategy

Market Strategy



Strategic Life Cycle Management

• Strategies are dynamic• You must continuously revisit and revise your product line strategy

with respect to your life cycle stage

GROWTH MATURITY DECLINEINTRO EXIT



Survey Question #3

Do you formally track your product portfolio with respect to its post-launch life cycle stage?

a) Yes, and we modify our strategies accordinglyb) Yes, but we do not modify our strategies based on this informationc) No, we do not formally track or utilize this information



The Result of Having a Clear Strategy

• You are aligned

• You are focused

• Your cross-functional teams are all working toward the same goals

• You are better positioned to maximize revenue and profitability

• You have a healthy product portfolio that people want to invest in!



• Are you interested in applying these techniques within your organization? If so, we can help!

• For more information, please contact us at 212-647-9100 or visit us online at http://sequentlearning.com

Continue The Journey…

2 and 3-Day Strategic Planning WorkshopsStrategic Audits and Advisory Projects



Upcoming Public Workshops


Product Management Essentials 2-day Workshop:August 6-7; Waltham, MA

Managing The Product Life Cycle 2-day Workshop:A Workshop for Managing Current Products & PortfoliosAugust 20-21; New York, NY

Strategic Product Roadmapping:August 22; New York, NY

View the Schedule: http://www.sequentlearning.com/schedule


Newsletter: The Product Management Report

Coming Soon: Summer 2013


SequentLearning.com/newsletters


Blog: The Product Management Exchange

Share your experiences or View these stories by members of the

Product Management/Marketing Community

http://www.sequentlearning.com/product-management-exchange.php



Upcoming Event: The Product Management Leadership Summit

Hosted by: The Product Management Executive Board www.pmexecboard.comCo-Host: Sequent Learning Networks

The 8th Product Management Leadership Summit

Date: October 24, 2013Location: Apella Event Space, New York, NY

For: Senior Executives in Product Management/Marketing

Network With Peers – Discuss Best Practices – Produce Positive Results



Thank You!


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Contact Bob Caporale:• [email protected]• http://linkedin.com/in/bobcaporale

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