Get Business Strategy Formulation: Theory, Process, and the PDF

By Anthony W. Ulwick

Ulwick introduces a method formula thought and approach that enables organisations to create concepts that constantly produce leap forward effects.

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Additional info for Business Strategy Formulation: Theory, Process, and the Intellectual Revolution

Example text

Three weeks later, the three prototyped concepts were presented to the focus group participants, and they were asked to choose which one they believed delivered the most value. After concept testing was completed, the team members met to review the findings. Upon reviewing and debating the results, they chose to develop the concept that received the most favorable review. They then began to design and develop the concept. In addition to concept testing, the planning team also elected to conduct conjoint analysis, which is a specialized form of market research that enables an organization to determine which combination of attributes are preferred by various segments of the population at various price points.

Can this be any indication as to what percent of all strategies, plans and decisions result in failure? What is your organization’s success rate? What, if any, was the cause of failure in any of your company’s recent business, product, service or operational strategies? According to many sources, poor planning is cited as the single biggest reason for the failure of company, product, service and operational strategies. Poor planning often results from an organization’s inability to gather, structure and process factual information.

At what point did you stop searching for a better solution? Was the optimal solution proposed? Would anyone have known if the optimal solution had been proposed? How did you set out to create the optimal solution? The use of Solution-Based Logic often precludes the creation of the optimal solution. The criteria that define the optimal solution are often unknown. Therefore it is difficult, if not impossible, to know if the optimal solution has been created. To make matters worse, organizations tend to evaluate only a few alternative solutions out of the thousands or millions of potential solutions that exist.

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