Career Stagnation. When Promotions End and the Runway Ends

In the final piece for Strategy Insights, called “When Promotions End and the Runway Ends,” I'm going to talk through an interesting client situation. We have an Insider, who later also became a coaching client, named Addie. He works for a large multinational company. There's nothing unusual about his career. He worked in industry for a long time. He did his executive MBA when he was 32-34 at a very good school. He interviewed at many firms and then joined this large multinational company. Like any immigrant, he wants to follow the American dream of having a healthy and wealthy family and life, but to also contribute to society, to be part of the fabric of a company that's making a big change for the good—not just in the US, but for the world as well. Addie followed our StrategyTraining.com programs to figure out ways to make his team as successful as possible. He did a number of things well and if you want to know what those things are you can read any of our journals or watch any of our programs where we teach all of those techniques. I'll summarize just a few things, but there are obviously a lot more…

CEO of Danone Learns That Being Good is Not Good Enough

CEO of Danone Learns That Being Good is Not Good Enough The next big theme is about how Danone’s CEO has just learned that being good is not good enough. If you follow the saga of Danone, it has branded itself as the socially responsible consumer packaged goods company, or as they call it outside of the Western Hemisphere, fast-moving consumer goods company. That's not to say that Danone is more socially responsible than its other major competitors. No, it's just branded itself this way. It's taken this flag of social responsibility and draped it around itself and told everyone, “This is what we're going to do.” But Danone has not done very well. Its share price is trailing peers. It’s PE ratio is trailing peers, and activist shareholders have stepped up and said, “Hold on a second. You're not doing well. We want the CEO to go.” That's basically what happened—the CEO has been released. Here’s the question: Was the CEO let go because he pursued a socially responsible corporate agenda? Or because he pursued it in a suboptimal way? And what does that mean for the world? What does it mean for strategy? Danone’s peers are also pursuing a socially…

Things Don’t Change Much—or Do They?

Things Don’t Change Much—or Do They? The next big theme I will call, “Things don't change much—or do they?” Over a period in the last week, BHP, an Anglo-Australian multinational miner, has become the most valuable company in the British economy, which is one of the most advanced, modern economies of the world and is heavily services based. If you've ever worked in London, you know that financial services are a significant driver of wealth in the British economy. But despite everything we're reading about the rise of service-based economies in wealthy, developed nations—the rise of climate-based industries, the rise of legal, the rise of consulting, the rise of wealth management—the largest company by market cap is a miner. The two largest companies behind that are Shell, an oil and gas company, and Unilever, a multinational consumer goods company. There isn’t a bank, a tech company, an auto company. We're not seeing what we would consider modern economy companies. What is the insight? There are two ways to look at this. One is that maybe the UK is showing us that we're going to live in a world where tech, finance and services will be the dominant drivers of growth, but companies…

One of the biggest strategy shifts ever in the next 10 to 20 years

One of the biggest strategy shifts ever in the next 10 to 20 years There was an interesting piece in the Financial Times related to how new is not always better. This shift is probably going to be one of the biggest strategy shifts in the next 10 to 20 years. [bctt tweet="This new is not always better shift is probably going to be one of the biggest strategy shifts in the next 10 to 20 years." username=""] Let me share with you a number of examples and analogies to make my point that. You probably celebrate a tradition with your family—whether it’s Thanksgiving, Diwali or Eid for different listeners around the world. Whatever religion you are, whatever culture you are, you prepare certain food on certain important days. It is unlikely that the food you prepare this year is completely different from the food you prepared last year. That's because you have certain traditions and you know certain things taste very good. Certain foods are not good because they are new. If something is newer but doesn’t taste very good, why would you eat it? [bctt tweet="There are certain books we always read in strategy because they are good. There are some books…

Strategic Consulting Knowledge Management

This is what is required to build intellectual property. It is a critical competitive advantage that most firms/professionals/consultants try to develop yet eventually quit. First Think of the time and cost savings in having the best slides available to your team. Not generic templates that are empty, but detailed study slides tracking a problem from start to finish. [bctt tweet="The value you can immediately bring to your clients/colleagues by having the right tools and seeing how they are used." username=""] Imagine being able to see how actual studies are done and being able to use/edit those files to support your clients. Video explanations of each slide of many studies in SCR-Advanced can be found on StrategyTraining.com should you want to understand how the partner developed/used the slide (FIRMSconsulting Insider level membership is required). Second Let’s assume you are part of a 10-person boutique consulting firm or part of a 10-person office within a large firm. It’s March and your office has completed four projects so far this year. Each consultant has created 100 unique files (word, PowerPoint, excel etc.) in those 3-months. The files are a mix of quality-standards. Some are unformatted drafts and others are incomplete PowerPoint decks. A…

5 Career Success Strategies When You Start From Nothing

5 Career Success Strategies When You Start From Nothing There are 5 career success strategies you need to follow when you are building your career and life from nothing. Follow them consistently and you will likely see your peers trying to catch you by the tail. In the recent article, we spoke about the confidence myth. We discussed why confidence is not a vital ingredient for success, despite popular belief. In this article, lets dive deeper into what is a recipe for career success, especially if you are starting with very little. You cannot control the circumstances of where you started but you can make the most with what you have First, let me share a personal story. When I was a business analyst I remember how uncomfortable I felt whenever consultants talked about where they studied or where they previously worked. I felt my background was embarrassing. At the time, I was completing an undergraduate degree from an unranked university. I had to complete that degree part-time because my music diploma was not recognized in the West. And my job prior to joining the consulting firm was a receptionist and an office manager at a tiny defense company because…

25 best strategy books to help you excel at business strategy

25 Best Strategy Books to Help You Excel at Business Strategy This is a curated list of the best strategy books that I, and other partners you know from the FIRMSconsulting training programs, think are best in preparing you to understand, apply and excel at the development and execution of business strategy. We are going to recommend books that we have recommended for our clients and the partners use themselves. These books teach you how to think like a major consulting firm's partner. They teach you how to think to develop unique solutions to your specific problems. 14 best strategy and critical thinking books recommended by Michael Succeeding as a Management Consultant When people think about the business strategy we often think about the field of strategy consulting/management consulting and firms like McKinsey, BCG, et al. If you are interested in learning how to conduct a management consulting engagement, you will likely enjoy this book. Succeeding as a Management Consultant is a book set in the Brazilian interior. This book follows an engagement team as they assist Goldy, a large Brazilian gold miner, in diagnosing and fixing deep and persistent organizational issues. This book follows an engagement team over an…

Presentation Skills: Stand Up and Present with Confidence

Presentation Skills: Stand Up and Present with Confidence Effective presentation skills are vital for most business roles. Many people never master presentation skills. Therefore, you can really set yourself apart from your colleagues by developing strong presentation skills. Steps to enhance your presentation skills are outlined for inexperienced and semi-experienced presenters below. What are presentation skills? Presentation skills refer to the skills you require in delivering effective and engaging presentations to any audience. The skills cover many areas including how to structure a presentation, the ability to design impactful slides, how masterful you are at using and maximizing the effectiveness of your voice, how competent you are at using your body language. https://youtu.be/ir0htA-zYtA 4 steps to enhance presentation skills Below are 4 proven steps that will take inexperienced presenters from a zero base in presentation skills to a quite high level, provided they put in the work required. Each step is vital and should not be skipped. Step 1: Prepare what you will say If you have never had any experience in presenting your work to an audience, the first few times will most likely be really uncomfortable and scary. What could help you greatly is to prepare and structure the key points you…

Starting a strategy consulting firm (ex-McKinsey, BCG, Bain, Deloitte, etc.)

Starting a strategy consulting firm (ex-McKinsey, BCG, Bain, Deloitte, etc.) Hi everyone and welcome to another episode of the management consulting podcast series where we discuss the business of running a consulting firm. In today's episode I would like to talk about the route behind the creation of most boutique strategy consulting firms and offices of larger firms. For example, if KPMG wants to open an office in a new territory, it will bring in a consultant who has either worked at KPMG or a consultant with expertise in that local region from a rival firm. If you are launching your own business, the odds are very high that you have already worked at a Deloitte, a McKinsey, Accenture, or even at a tech firm. In fact, you bring in the skills of your prior firm into your new organization. Who usually establishes boutique strategy consulting firms and offices of larger strategy consulting firms A majority of strategy consulting firms and smaller offices are created by consultants who worked at larger firms and larger offices. One of the biggest challenges faced by such consultants is that they take an idea, concept, toolkit, framework, or some kind of intellectual property which is usually a very narrow…