When combined, strategic thinking tools discussed in earlier columns compose a kind of tool kit that provides the essentials required for a detailed business strategy. But these tools must be used effectively to meet their potential. We will, therefore, consider the factors necessary (and, we hope, sufficient) to create a detailed business strategy and see how the tools can enable the development of that strategy. The following examples serve simply as a starting point.
When combined, strategic thinking tools discussed in earlier columns compose a kind of tool kit that provides the essentials required for a detailed business strategy. But these tools must be used effectively to meet their potential. We will, therefore, consider the factors necessary (and, we hope, sufficient) to create a detailed business strategy and see how the tools can enable the development of that strategy. The following examples serve simply as a starting point.
The High 5 can also be used for organizational purposes. It serves the internal customer (the employee), as well as the external customer. Having a High 5 of the most important considerations needed to satisfy employees can go a long way toward maintaining the team's focus on its most precious resource: people. For each employee, a plan can easily be put in place to make sure that each of the elements of the individual's High 5 are in place.
The choice of path from the now (present service and market segment) to the future target (new service and market segment) depends on the strategy and its associated risks. One alternative is to maintain the market segment while changing services. The other alternative is to maintain the service being offered while changing the market segment. Ultimately, one would consider both new services and new market segments.
Applying strategic thinking tools in this way leads to the satisfaction of key strategic criteria and, consequently, the attainment of an overall business strategy.
Ronald Schilling is an editorial advisor to Diagnostic Imaging and president of RBS Consulting in Los Altos Hills, CA. Comments can be addressed to ronald11341@aol.com.
FDA Approves Fluorescence Imaging System for Detecting Residual Breast Cancer
April 18th 2024The combination of the optical imaging agent Lumisight and the fluorescence imaging device Lumicell Direct Visualization System, collectively known as LumiSystem, reportedly offers 84 percent accuracy with real-time detection of residual breast cancer after lumpectomy procedures.
Study of Ofatumumab for Multiple Sclerosis Shows 'Profoundly Suppressed MRI Lesion Activity'
April 17th 2024The use of continuous ofatumumab in patients within three years of a relapsing multiple sclerosis diagnosis led to substantial reductions in associated lesions on brain MRI scans, according to research recently presented at the American Academy of Neurology (AAN) conference.
Could a Deep Learning Model for Mammography Improve Prediction of DCIS and Invasive Breast Cancer?
April 15th 2024Artificial intelligence (AI) assessment of mammography images may significantly enhance the prediction of invasive breast cancer and ductal carcinoma in situ (DCIS) in women with breast cancer, according to new research presented at the Society for Breast Imaging (SBI) conference.