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Lesson 1:
Imagination is the master of great strategy; implementation is its servant. First
dream, and then ask, "How can we reach our dream?" Henry Ford first imagined a
car everyone could afford. Then he designed the assembly line as the means to accomplish
his dream.
Lesson 2:
When it comes to creating value, imagination wins out over forecasting and prediction.
When gathering information to determine how the future will unfold, it is important to
remember that forecasting is a tool, not the end. Fifteen years ago, it was Chrysler that
went beyond mere forecasting to ask, "What does all of the information about the
hectic pace of families mean to the auto industry?" The answer was the mini—van.
Lesson 3:
Ambitious goals act as catalysts. Henry Ford's ambition was captured in the soundbite,
"Put a car in every garage." John F. Kennedy said that before the end of the
decade, we would land a man on the moon and bring him back safely.
Lesson 4:
Don't listen to the naysayers. People who invent the future are often alone. When Fred
Smith, founder of Federal Express, wrote a paper about the concept of overnight delivery
service, a Yale University management professor responded, "The concept is
interesting and well—formed, but in order to earn better than a 'C,' the idea must be
feasible."
"Companies that create the future do more than satisfy customers; they constantly
amaze them." — Gary Hamel and C.K. Prahalad, Competing for the Future
Lesson 5:
Create an agenda, not a detailed plan. Strategic planning is a high level blueprint for
the future. Cary Hamel and C.K. Prahalad, authors of Competing for the Future, say that an
agenda will…
- Capture the dream of the organization
- Define the benefits it will deliver to customers
- Identify necessary core competencies
- Define how the organization will interface with the customer
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