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The Strategy Skills Podcast: Management Consulting | Strategy, Operations & Implementation | Critical Thinking

FirmsConsulting.com & StrategyTraining.com

114
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163
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The Strategy Skills Podcast: Management Consulting | Strategy, Operations & Implementation | Critical Thinking

The Strategy Skills Podcast: Management Consulting | Strategy, Operations & Implementation | Critical Thinking

FirmsConsulting.com & StrategyTraining.com

114
Followers
163
Plays
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About Us

The Strategy Skills Podcast is the channel where strategy partners teach you the tools and techniques to solve mankind’s greatest problems. Learn all the skills of McKinsey and BCG consultants without having to work at a consulting firm. The podcast teaches both technical analyses and soft skills like communication.Each week we discuss concepts to help listeners advance their strategy, operations and implementation skills, enhance their critical thinking ability and build their executive presence. We also dissect individual consulting studies in great detail so you can replicate them with confidence. www.firmsconsulting.comwww.strategytraining.com

Latest Episodes

15: Keep the Telecom License?

This is the thirteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. In this podcast we discuss how the client came to be the primary bidder for a telecom license which is far from their core business. We also discuss the process we used to decide if the client should keep the license, sell it or do something else. We developed 4 scenarios for the client. We also explain why immediately exiting this non-core investment hurts the client more than keeping the license. That is a counter intuitive recommendation which has to do with the value of real options. Although, this may seem surprising, many power companies consider telecoms to be a natural adjacency due to the physical overlap of infrastructure. www.firmsconsulting.com

20 min2015 AUG 19
Comments
15: Keep the Telecom License?

16: Governance in Transformation Studies

This is the fourteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. This podcast defines governance versus project management and explains the 6 governance levels on the study. We further break the 6 governance levels into those with a short to medium term focus and those with a long term focus. The six governance levels are: EI - BoardEI - CEO and EXCOEI - OPCOEI - Steerco. EE - BoardEE - CEO We explain further why in transformation studies the Steerco is one of the most important governance structures, trumpeting that of OPCO, even through Steerco members report to OPCO members. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

17 min2015 AUG 25
Comments
16: Governance in Transformation Studies

17: Evolving International Business Ideas

This is the fifteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. In an earlierpodcastI discussed our bold hypotheses which involved shutting down and selling all of the international businesses. Since that initial hypothesis developed in week 1, and after thinking about it for the last 2 weeks, we have changed our views. In terms of the number of initiatives, the majority of the international businesses will be shut down or sold. However, in terms of dollar value, the majority of international businesses will remain. If that sounds contradictory, this podcast explains how we decided which businesses to keep and the impact it will have on the funding of the transformation study. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

7 min2015 AUG 27
Comments
17: Evolving International Business Ideas

18: Corporate Strategy Analysis Process

This is the sixteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. In this critical podcast, we focus on two things. First, we discuss the reason why corporate strategy studies rely so heavily on executive workshops. We explain why simply handing the perfect strategy to the client will never yield results, even if the client accepts it without any challenges. The workshop process plays a crucial role that cannot be easily replicated anywhere else in the study. That is the reason to hold the workshop. Second, we discuss the components of the corporate strategy analyses and how we use each part: 1 - Case studies2 - Market analyses3 - Customer value chain analyses4 - Client value chain analyses Finally, we discuss how all of these come together in the scenario planning. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

15 min2015 SEP 1
Comments
18: Corporate Strategy Analysis Process

19: How to Communicate Recommendations

This is the seventeenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. This podcast discusses how to communicate recommendations which are radical in nature. If the recommendations are presented too early, they are hypotheses with little data backing them and they can be easily challenged. If the recommendations are presented at the end, it shocks the client and there likely will be little agreement from the client. The solution is to present early but to present them as hypotheses. That seems easy, but this podcast explains the mistakes in communication made when most consultants present complex hypotheses very early, and how to fix them. You will learn that communication, your choice of words and the way you emphasize them can dramatically alter the way the client interprets what you are saying. In fact, the emphasis will radically alter the meaning. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

14 min2015 SEP 4
Comments
19: How to Communicate Recommendations

20: Grooming Corporate Leaders

This is the 18th podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. In this podcast we discuss the approach and philosophy used by the study leadership stream as they guide and mentor corporate leaders at the client. We discuss the 4 pillars on which our leadership philosophy is built and use practical examples to demonstrate how we help clients adopt these principles. The four pillars are: Sincere authenticity matters. Embrace, not hide, leadership flaws. Forget about image. Focus on results. This approach is about helping corporate leaders be successful in the short term. If you would like to learn more about this leadership work, please read thisarticle. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

19 min2015 SEP 9
Comments
20: Grooming Corporate Leaders

21: Determining the Capital Requirements

This is the 19th podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. As the transformation recommendations are implemented, the implementation will cost billions of dollars to execute. The implementation cost is also known as the capital requirements. Understanding the size of the cost and drivers ofthecostiscritical. This podcasts discusses the 6-step process the divestment team will use to calculate the cost of the transformation. We will also discuss the key assumptions made and principles we are applying. Finally, we will address the questions the team will answer and the questions they will not answer. This podcast will discuss the level of modelling used in corporate strategy studies and the difference between the models used in investment banking. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

15 min2015 SEP 10
Comments
21: Determining the Capital Requirements

22: Challenged at the Steering Committee

This is the 20th podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. In the Steering Committee meeting this morning we were directly challenged by a member of the committee. This podcast discusses the nature of the challenge and how we responded. The client raised a concern about our skills and also raised a potential conflict of interest we had not considered. We unpack the challenge and the thought-process we applied in managing this situation. Ultimately, we also explain why and how alumni of McKinsey and BCG who create boutique firms end up limiting their prospects for growth. Finally, we will discuss the differences in which conflict can be managed by engaging crowds and individuals. The trick is to engage only one of these groups and for a very unique reason. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn SIGN UPFOR COMPLEMENTARY TRAINING:www.firmsconsulting.com

20 min2015 SEP 15
Comments
22: Challenged at the Steering Committee

23: Managing Fatigue as a Partner

This is the 21st podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. Many readers have written in asking how we manage the fatigue of running such an intense study while managing all the numerous Firmsconsulting initiatives. In this podcast I briefly touch on the practical tools I use to manage my time, set priorities and manage my diary to ensure I keep the trains running on time. I also discuss the myth of loving what you do. While that is important, it does not insulate one from the trauma of dealing with abrasive situations. I manage this in a different way. Finally, I discuss the problem with reading magazines and articles on learning how to de-stress. Best practice, as you will learn, is not going to work for you. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn SIGN UPFOR COMPLEMENTARY TRAINING:www.firmsconsulting.com

21 min2015 SEP 18
Comments
23: Managing Fatigue as a Partner

24: Power Outages Escalate

This is the 22nd podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. As power outages escalate across the region, EI remains focused on growing internationally. It is crucial to remember that these podcasts reflect the team's strategy and thinking that we have not yet fully communicated to EI. That will happen over the next few weeks. So while you have heard lots about the need to focus on EE’s core business, EI is yet to come around to that thinking. In fact, EI is firmly focused right now on its original mandate. The challenge we face is in guiding the CEO to hold off on making large and irreversible capital investments until we present our plans. EI has several promising ventures on the table which require a decision. Those ventures move EI away from where we think it needs to focus in the future. We have to, unfortunately, pre-empt our carefully laid plans and discuss our initial thinking with the CEO. In this podcast, we...

13 min2015 SEP 23
Comments
24: Power Outages Escalate

Latest Episodes

15: Keep the Telecom License?

This is the thirteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. In this podcast we discuss how the client came to be the primary bidder for a telecom license which is far from their core business. We also discuss the process we used to decide if the client should keep the license, sell it or do something else. We developed 4 scenarios for the client. We also explain why immediately exiting this non-core investment hurts the client more than keeping the license. That is a counter intuitive recommendation which has to do with the value of real options. Although, this may seem surprising, many power companies consider telecoms to be a natural adjacency due to the physical overlap of infrastructure. www.firmsconsulting.com

20 min2015 AUG 19
Comments
15: Keep the Telecom License?

16: Governance in Transformation Studies

This is the fourteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. This podcast defines governance versus project management and explains the 6 governance levels on the study. We further break the 6 governance levels into those with a short to medium term focus and those with a long term focus. The six governance levels are: EI - BoardEI - CEO and EXCOEI - OPCOEI - Steerco. EE - BoardEE - CEO We explain further why in transformation studies the Steerco is one of the most important governance structures, trumpeting that of OPCO, even through Steerco members report to OPCO members. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

17 min2015 AUG 25
Comments
16: Governance in Transformation Studies

17: Evolving International Business Ideas

This is the fifteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. In an earlierpodcastI discussed our bold hypotheses which involved shutting down and selling all of the international businesses. Since that initial hypothesis developed in week 1, and after thinking about it for the last 2 weeks, we have changed our views. In terms of the number of initiatives, the majority of the international businesses will be shut down or sold. However, in terms of dollar value, the majority of international businesses will remain. If that sounds contradictory, this podcast explains how we decided which businesses to keep and the impact it will have on the funding of the transformation study. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

7 min2015 AUG 27
Comments
17: Evolving International Business Ideas

18: Corporate Strategy Analysis Process

This is the sixteenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. In this critical podcast, we focus on two things. First, we discuss the reason why corporate strategy studies rely so heavily on executive workshops. We explain why simply handing the perfect strategy to the client will never yield results, even if the client accepts it without any challenges. The workshop process plays a crucial role that cannot be easily replicated anywhere else in the study. That is the reason to hold the workshop. Second, we discuss the components of the corporate strategy analyses and how we use each part: 1 - Case studies2 - Market analyses3 - Customer value chain analyses4 - Client value chain analyses Finally, we discuss how all of these come together in the scenario planning. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

15 min2015 SEP 1
Comments
18: Corporate Strategy Analysis Process

19: How to Communicate Recommendations

This is the seventeenth podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. This podcast discusses how to communicate recommendations which are radical in nature. If the recommendations are presented too early, they are hypotheses with little data backing them and they can be easily challenged. If the recommendations are presented at the end, it shocks the client and there likely will be little agreement from the client. The solution is to present early but to present them as hypotheses. That seems easy, but this podcast explains the mistakes in communication made when most consultants present complex hypotheses very early, and how to fix them. You will learn that communication, your choice of words and the way you emphasize them can dramatically alter the way the client interprets what you are saying. In fact, the emphasis will radically alter the meaning. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

14 min2015 SEP 4
Comments
19: How to Communicate Recommendations

20: Grooming Corporate Leaders

This is the 18th podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. In this podcast we discuss the approach and philosophy used by the study leadership stream as they guide and mentor corporate leaders at the client. We discuss the 4 pillars on which our leadership philosophy is built and use practical examples to demonstrate how we help clients adopt these principles. The four pillars are: Sincere authenticity matters. Embrace, not hide, leadership flaws. Forget about image. Focus on results. This approach is about helping corporate leaders be successful in the short term. If you would like to learn more about this leadership work, please read thisarticle. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

19 min2015 SEP 9
Comments
20: Grooming Corporate Leaders

21: Determining the Capital Requirements

This is the 19th podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. As the transformation recommendations are implemented, the implementation will cost billions of dollars to execute. The implementation cost is also known as the capital requirements. Understanding the size of the cost and drivers ofthecostiscritical. This podcasts discusses the 6-step process the divestment team will use to calculate the cost of the transformation. We will also discuss the key assumptions made and principles we are applying. Finally, we will address the questions the team will answer and the questions they will not answer. This podcast will discuss the level of modelling used in corporate strategy studies and the difference between the models used in investment banking. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn www.firmsconsulting.com

15 min2015 SEP 10
Comments
21: Determining the Capital Requirements

22: Challenged at the Steering Committee

This is the 20th podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. In the Steering Committee meeting this morning we were directly challenged by a member of the committee. This podcast discusses the nature of the challenge and how we responded. The client raised a concern about our skills and also raised a potential conflict of interest we had not considered. We unpack the challenge and the thought-process we applied in managing this situation. Ultimately, we also explain why and how alumni of McKinsey and BCG who create boutique firms end up limiting their prospects for growth. Finally, we will discuss the differences in which conflict can be managed by engaging crowds and individuals. The trick is to engage only one of these groups and for a very unique reason. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn SIGN UPFOR COMPLEMENTARY TRAINING:www.firmsconsulting.com

20 min2015 SEP 15
Comments
22: Challenged at the Steering Committee

23: Managing Fatigue as a Partner

This is the 21st podcast for the power sector corporatestrategy studywe will soon release as part of our Executive Program. Many readers have written in asking how we manage the fatigue of running such an intense study while managing all the numerous Firmsconsulting initiatives. In this podcast I briefly touch on the practical tools I use to manage my time, set priorities and manage my diary to ensure I keep the trains running on time. I also discuss the myth of loving what you do. While that is important, it does not insulate one from the trauma of dealing with abrasive situations. I manage this in a different way. Finally, I discuss the problem with reading magazines and articles on learning how to de-stress. Best practice, as you will learn, is not going to work for you. COME HANG OUT WITH US:Facebook/Twitter/LinkedIn SIGN UPFOR COMPLEMENTARY TRAINING:www.firmsconsulting.com

21 min2015 SEP 18
Comments
23: Managing Fatigue as a Partner

24: Power Outages Escalate

This is the 22nd podcast for the power sector corporate strategy study we will soon release as part of our Executive Program. As power outages escalate across the region, EI remains focused on growing internationally. It is crucial to remember that these podcasts reflect the team's strategy and thinking that we have not yet fully communicated to EI. That will happen over the next few weeks. So while you have heard lots about the need to focus on EE’s core business, EI is yet to come around to that thinking. In fact, EI is firmly focused right now on its original mandate. The challenge we face is in guiding the CEO to hold off on making large and irreversible capital investments until we present our plans. EI has several promising ventures on the table which require a decision. Those ventures move EI away from where we think it needs to focus in the future. We have to, unfortunately, pre-empt our carefully laid plans and discuss our initial thinking with the CEO. In this podcast, we...

13 min2015 SEP 23
Comments
24: Power Outages Escalate
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