A new way to think about strategy and business | Roger Martin

Introduction

This tutorial is based on insights from Roger Martin, a prominent strategist known for his work with major companies like Procter & Gamble and Ford. In his latest book, "A New Way To Think," Martin challenges traditional business strategies and provides a fresh perspective on how companies can succeed by focusing on consumer behavior and imaginative decision-making. This guide will break down key concepts and actionable steps that can be applied in your business strategy.

Step 1: Recognize the Limitations of Current Models

• Understand that many existing business models are outdated and don't reflect the current market dynamics.
• Acknowledge that these models may not effectively address customer needs or preferences in today’s fast-changing environment.
• Consider revisiting your existing strategy to identify areas that may no longer be relevant.

Step 2: Prioritize Customer Success

• Shift your focus to understanding and prioritizing customer needs and experiences.
• Implement customer feedback mechanisms to gain insights on how your products or services can better meet their expectations.
• Develop strategies that are customer-centric, ensuring that every decision is made with the customer in mind.

Step 3: Evaluate the Role of Scale

• Assess whether scale is truly an advantage for your business.
• Recognize that smaller companies can compete effectively by being agile and customer-focused.
• Explore niche markets where you can leverage unique strengths rather than competing solely on size.

Step 4: Foster Conscious Loyalty Over Unconscious Habit

• Differentiate between customers who are loyal out of habit and those who are consciously choosing your brand.
• Create marketing strategies that foster conscious loyalty by engaging customers and building strong relationships.
• Use storytelling and brand experiences to deepen customer connections.

Step 5: Understand the Hansel and Gretel Effect

• Familiarize yourself with the concept of the Hansel and Gretel effect, which refers to how customers are led to make decisions based on cues from their experiences.
• Ensure that your brand leaves positive "breadcrumbs" that guide customers back to you.
• Focus on creating memorable customer interactions that encourage repeat business.

Step 6: Embrace Data and Imagination in Decision Making

• Balance data-driven decisions with imaginative thinking.
• Use data to identify trends and insights but allow creativity to influence strategic direction.
• Encourage brainstorming sessions that integrate analytical and creative approaches to problem-solving.

Step 7: Identify Effective Models for Your Strategy

• Explore various strategic models that align with your company’s vision and market position.
• Consider frameworks such as the "Playing to Win" strategy for guiding your business decisions.
• Tailor these models to fit your specific context rather than applying them rigidly.

Conclusion

By adopting Roger Martin's insights, you can reshape your business strategy to be more relevant and effective in today's market. Focus on understanding customer needs, reassessing traditional models, and integrating creative thinking into your decision-making processes. These steps will help you build a company that is not only resilient but also positioned for sustainable success. For further guidance, consider reading "A New Way To Think" or exploring more of Roger Martin's work online.