The problem is known and acknowledged, and the solution is found in examining what you know by assessing what resources you have. Remember how important it is to have the right people in the right place: Jim Collins, author of Good to Great, wrote that the first job of a good leader is to; get the right people on the bus (and the wrong people off the bus) before you figure out where to drive it. From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors, 15 Focus Strategy Advantages and Disadvantages, 10 Price Leadership Advantages and Disadvantages, 11 Dual Pricing Advantages and Disadvantages, 13 Individual Branding Advantages and Disadvantages, 13 Promotional Pricing Strategy Advantages and Disadvantages, "From Disabled and $500k in Debt to a Pro Blogger with 5 Million Monthly Visitors. With a focus strategy, a company establishes itself as the best, and most people prefer to work with the best when they have a need that must be met. Relationships help us determine who needs to be involved and when to achieve the desired solution.

In this way, the loss of Challenger, was a “predictable surprise.”. I am grateful and honored to be a featured writer at SmartBrief on Leadership, and two of my recent contributions are all about the responsibilities and challenges leaders face clarifying and bringing strategy to life.

If you are the best at what you do within a specific niche, it becomes difficult for others to counter such a claim. But Commodore fell quickly from its heights as it tried to introduce new products and alienated the customer base that had helped it win substantial market shares in the 1980s. Then a specific value proposition is created because the products or services are built around the needs and concerns previously discussed.

Working with a niche demographic can produce amazing results. When there is a higher level of loyalty within a consumer base, then a business is able to charge higher prices for their products. The best teams win together, learn together, adapt together, lose together, and grow together. The quality of your products or services stands as a testament to your overall expertise, which counters most marketing messages that a competitor might offer.

Over the years, I’ve accumulated what I believe are the most impactful tips that work no matter the context; they are relevant no matter the industry. This site uses Akismet to reduce spam.

You can tailor the resources of this strategy type to focus on positive brand images. However, the need to satisfy a narrow market demand means that the desire of uniqueness is taken to the “next level” by firms in a focused differentiation strategy. That means it can be more difficult to plan or control production, deal with personnel scheduling, or manage inventory.

I was one of those geeks who stood in line the first week the iPhone was released to get my hands on one.

On the opposite end of the spectrum are authoritative and controlling leadership styles. When one specific demographic is targeted, there is always a risk that the demographic may go away one day. These inexpensive pizzas are baked at home. With clarity, a team knows where to shift its focus and determine the level of effort necessary to finish an assignment. While every leadership development process changes to meet your leaders where they are, the following areas of focus are meant to share what will be accomplished and developed. A strength is not just what we are good it. The niche could get diluted or be taken over by larger players. To that point, I had not owned a smartphone with email capability. It’s hard to know what somebody working in a garage somewhere in the world might come up with next. The recent incident on a United Airlines flight shows that culture matters immensely in an organization and, I’d argue, is more important the larger a company is. The housing bubble, Enron, and Chernobyl are all great examples of things that were not accidents and were predictable for those that sought to look. It is a strategy that was first developed by Michael Porter, business professor at Harvard University, in the mid-1980s. He was referring to the RAF pilots protecting Britain during an onslaught of German air attacks early in World War II.

When you create a focus strategy, you are looking for natural ways to limit the competition.

It came to a relatively quick demise in 1911. How about National Lead?

Strategists have the humility and intelligence to realize that their learning and development is never done, ... strategy+business is published by certain member firms of the PwC network. These are, however, daily realities of business. It is easier to trust and understand colleagues when relationships are high … The list has some lessons I’ve learned on my own but many draw on the comments and experiences of others playing on much bigger stages. Team members' commitment and performance increase when they believe you are genuinely invested in their success. The processes of a focus strategy must be repeated to create new opportunities because what has been created already was specific to the demographic. Seventeen real-life examples of good leadership and strategy. I would argue that those that know the difference between luck and smarts do better in life.

The value in this method is that by focusing on what you want the solution to be as opposed to an emphasis on the problem, your time and focus is on developing action steps towards the solution.
When you’re able to narrow your niche to limit your competition, you create a natural destination business for people in your targeted demographic. The exceptional leader can rise above the distractions. These images can promote new products or services at the same time, creating new interest in the product. But it is one of the only members to not even have a sliver of its DNA still in existence through mergers or acquisitions over the years. Art Petty is a former software industry senior executive and a popular leadership and management author, executive coach and speaker.

The limited demand available within a niche is problematic. Companies that do this well are not wholly protected from competitive threat, but they have a decided edge.

A focused cost leadership strategy requires competing based on price to target a narrow market (Table 5.6 “Focused Cost Leadership”). While it’s meaning has shifted over the years, its early incarnation went something like this: work expands to fill the allotted time. Lead 10 Leadership Focus Areas That Build High Performing Teams Shape the conditions that promote teamwork and results. It can also produce zero results. You are concerned with what the latest competitor is doing, how the … A team that knows its purpose and how they make a difference can innovate, adapt to change more easily, and make stronger decisions.

Great teams make time to eat together, have coffee together, plan together, review progress, and even share a drink together. Both approaches undermine motivation and often lead to toxic workplaces. It’s fair to say that Mr Duell missed the mark.

Focus on Relationships.
A focused cost leadership strategy needs to compete based on price to target a niche market. There is nothing in place to stop another brand from adopting an even narrower focus strategy, creating an ultra-specific product that is also disruptive.

To learn more or discuss a challenge, contact Art.

It clarifies how the leadership strategy will be accomplished, explores the implications for talent management systems and processes, and outlines an approach to leadership development.

A universal information movement to build a world where all 7.8+ billion people are rich. That is why a focus strategy must be carefully managed, focusing on the value proposition being offered, to generate the best possible results. If you enjoyed this post, stay up to date with my latest leadership and management tips! But Netflix solved the undifferentiated content problem by developing its own very differentiated content (House of Cards, among others) and left the DVD world behind on its way to an amazing recovery. Enjoy and use the ideas in great strategy health!

For those who don’t remember “Chainsaw” Al Dunlap, look him up.

A focus strategy can be implemented to resolve these issues as well.

It is easier to trust and understand colleagues when relationships are high-quality.

For a focus strategy to be successful, businesses and brands must actively listen when hearing about the needs and concerns of their targeted demographic.

Each of the focus areas is important. An organization following it may not charge the lowest prices in the industry. It’s not okay to be lucky and think you’re smart: One of my professors from business school said this once, and it’s stuck with me for a long time. It is typically implemented when the agency involved already knows its targeted demographics and can meet the needs of each consumer effectively. Leadership and the Pursuit of Speed for Strategy Execution.

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