Strategy frameworks enable organizations to solve their toughest challenges by giving them the tools they need to focus on the essential aspects of a given problem. It is through the lens of these frameworks that we create sustainable competitive advantage, capture adjacent and new markets and allocate the resources of the firm to the projects that ignite our passions while padding our profits.
Business and Market Strategy
The business community has developed dozens of frameworks to help us map competitive forces, manage innovation portfolios and manage strategic planning. Try any of these to supercharge your innovation process!
Sweet Spot of Strategy
Enterprises struggle when they lack clear models of how their offerings serve customer needs. In this framework from the Harvard Business Review article Can You Say What Your Strategy Is? authors David Collis and Michael Rukstad provide business leaders with a simple and direct model for identifying competitive differentiation.
Mapping Innovation Ambitions
The Innovation Ambition Matrix was inspired by the Harvard Business Review article Managing Your Innovation Portfolio written by Monitor’s co-partners: Bansi Nagji and Geoff Tuff. The framework helps teams develop a holistic view of their present and potential/future opportunities for improved and/or new products and services based on three kinds or categories of innovation: core, adjacent, and transformational.
Read how Conteneo uses this framework here.
Modern portfolio management uses frameworks and the ability to bring multiple stakeholders into forums to optimize the selection of projects and the allocation of resources, enabling enterprises to bridge the gap between strategy and execution.
An impact/effort matrix organizes a set of items such as features, projects, or user stories in two dimensions. The Y-axis captures “business value”, with higher valued items placed at the top. The X-axis captures level of effort. Impact/Effort matrices promote healthy discussions tradeoffs that face business leaders and product/service teams as they seek to optimize resources.
Managing Shared Portfolios
Enterprises with more than one product line or business unit must find ways to manage multiple portfolios. Conteneo’s platforms gives you the ability to create custom frameworks that allow each Product Team or Business Unit to develop their own Impact/Effort Matrix while also seeing the context of the shared portfolio plan across product teams or business units, improving the quality of decisions while eliminating the delays and costs associated with in-person meetings.
Passionate Resource Allocation
Innovative, forward thinking organizations come with a price they can never afford: They create too many good ideas to pursue. They have to prioritize. And they can’t use ROI, because the ideas they’re considering all have acceptable economic returns.
The book The Alchemy of Growth by McKinsey partners Mehrdad Baghai, Stephen Coley, and David White provides a novel solution: Instead of using ROI, use decision-making frameworks that explicitly allow managers to fund initiatives based on their passions.
The Conteneo framework Fund a Project encourages business leaders to work together together to fund the most attractive projects. In the process, business leaders identify their own passions and the passions of their colleagues.