Welcome to the 29th podcast where we are covering the corporate strategy study, a transformation of a major power sector company. An absolute behemoth.

In today’s podcast we want to go back to a very core concept that you need to understand as we move forward. In the previous podcasts we spoke about the definition of corporate strategy. We explained what is corporate strategy. And no, working for the CEO or Chairman of the Board does not make it corporate strategy.

Its actually very simple to know if a study qualifies as a corporate strategy study. Irrespective of what anyone tells you, if you go into a strategy study where the key question, or what we call an objective function, is known to you, that is not corporate strategy.

objective functionThis is because corporate strategy is not about knowing how to maximize an objective function. It is about choosing the objective function you want to maximize.

That is the key difference between corporate strategy and every other kind of strategy. No matter what anyone tells you.

In today’s podcast we are still focusing on the build up to week 4 of the study when we are hosting a major corporate strategy workshop where we determine whether the business should operate in non-core markets.

In a sense it is a scenario planning workshop. The kind of workshop that all strategy partners and all strategy practitioners need to know how to handle. Hands down it is one of the most important skills you need in consulting and at higher levels in corporate.

And once we finish week 4 we will lead you through the rest of the study.

So, to wrap up, if you are in consulting, in an internal consulting role or interested in strategy consulting, you should know there is a significant difference between corporate strategy and the other types of strategy analyses like business unit strategy, market entry strategy etc. And in this podcast we explain the two requirements that must exist for an engagement to be a corporate strategy study.

If you enjoyed this conversation we will be so grateful if you jump over to iTunes and share a quick review. It helps more people find us. 

Also a huge thank you for making “Strategy Skills” one of the most popular podcasts in the world for careers. It is ranked #1 in India, #3 in South Africa, #5 in France, #77 in USA, #62 in Germany etc.

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