{"id":5523,"date":"2022-04-29T23:29:23","date_gmt":"2022-04-30T04:29:23","guid":{"rendered":"http:\/\/mariusbill.com\/?p=5523"},"modified":"2022-12-29T05:12:12","modified_gmt":"2022-12-29T05:12:12","slug":"business-mastery-for-entrepreneurs-part-26-what-is-the-best-strategy-for-your-business-tool-xix-shaping-business-strategy","status":"publish","type":"post","link":"https:\/\/mariusbill.com\/de\/business-mastery-for-entrepreneurs-part-26-what-is-the-best-strategy-for-your-business-tool-xix-shaping-business-strategy\/","title":{"rendered":"Business Mastery for Entrepreneurs \u2013 Part 26: What is the Best Strategy for Your Business? \u2013 Tool XIX \u2013 Shaping Business Strategy"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5524 alignleft\" src=\"http:\/\/mariusbill.com\/wp-content\/uploads\/2022\/04\/Blog-Post-33-Tool-XIX-final-scaled-1-300x168.jpeg\" alt=\"\" width=\"486\" height=\"272\" srcset=\"https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/04\/Blog-Post-33-Tool-XIX-final-scaled-1-300x168.jpeg 300w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/04\/Blog-Post-33-Tool-XIX-final-scaled-1-1024x574.jpeg 1024w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/04\/Blog-Post-33-Tool-XIX-final-scaled-1-768x431.jpeg 768w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/04\/Blog-Post-33-Tool-XIX-final-scaled-1-1536x861.jpeg 1536w, https:\/\/mariusbill.com\/wp-content\/uploads\/2022\/04\/Blog-Post-33-Tool-XIX-final-scaled-1-2048x1148.jpeg 2048w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In today\u2019s article I will share\u00a0a brief introduction to the<strong><b>\u00a0shaping\u00a0approach to<\/b><\/strong>\u00a0<strong><b>strategy <\/b><\/strong>and show\u00a0when you should use this strategy.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>What is the purpose of the shaping approach to strategy?<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Whenever the environment is unpredictable but malleable, your company has the extraordinary opportunity to lead the shaping or reshaping of a whole industry.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">And your company has the opportunity to be part of a new movement and create something new and unprecedented.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In their book, Your Strategy Needs a Strategy, Martin Reeves and his co-authors,<sup>1<\/sup>\u00a0emphasized the importance of the shaping approach to strategy for business environments that are malleable.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">A great summary of their work can be found in the Harvard Business Review <sup>2<\/sup>\u00a0or in the Boston Consulting Group publications.<sup>3<\/sup><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Overview<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><strong><b>What is the core idea of the shaping approach to strategy?<\/b><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><b><\/b><strong><b>What are the pros and cons?<\/b><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><b><\/b><strong><b>What is the difference to other strategies?<\/b><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><strong><b>When should you use the shaping approach to strategy?<\/b><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 Summary<\/b><\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>What is the core idea of the shaping approach to strategy?<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Imagine, your company gets the extraordinary opportunity to shape or reshape an industry at an early point in its development, when rules have not yet been written.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Imagine there is an opportunity for the industry to become large, attractive, and favorable to you. <\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">This is the core idea of the shaping approach.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>What are the pros and cons?<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Pros:<\/b><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Your company has a great opportunity to engage and influence other stakeholders to create a shared vision of the future.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Your company can be part of a platform through which all activities can be orchestrated.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">By scaling the platform and maintaining its flexibility and diversity it has great power to influence the future development of the industry.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Cons:<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">The company operates under a high degree of unpredictability, given the nascent stage of industry evolution it faces.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">The company needs to manage the participation of multiple stakeholders that it must influence but cannot fully control.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>What is the difference to other strategies?<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Shaping strategies are very different from classical, adaptive, or visionary strategies.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">They concern ecosystems rather than individual companies and rely as much on collaboration as on competition.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b>The focus is on engagement, to orchestrate the change and then to evolve<strong><b>. <\/b><\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>When should you use a shaping approach to strategy?<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">You should use this strategy when the environment is unpredictable but malleable.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In order to succeed, your company needs to do the following:<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Step #1: Engage &#8211; Create a shared vision<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Engage other stakeholders to create a shared vision.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Make sure the timing is right.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Step #2: Orchestrate &#8211; Build a platform to collaborate<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Your company needs to build a platform through which your company can exercise influence and orchestrate the collaboration.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">It needs to evolve the platform and ecosystem by scaling it and keeping it flexible.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Step #3: Evolve &#8211; Build a new market quickly<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Needs others to share the risk, contribute complementary capabilities, and build the new market quickly before competitors mobilize.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Summary<\/b><\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>Key Point #1:<\/b><\/strong>Your company has a great opportunity to engage and influence other stakeholders to create a shared vision of the future and become one of the &#8220;shaper&#8221; of a new industry.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>Key Point #2: <\/b><\/strong>The focus is on engagement, to orchestrate the change and then to evolve.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Supporting you<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">I\u00b4m available to support you by re-imagine your business and propel it to the next level. The<strong><b> shaping approach to strategy<\/b><\/strong> will help your company to create new products and ensure long-term success.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><b>Contact me for a complimentary 30-minute strategy session:<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/nextlevelcoach.as.me\/schedule.php\"><u>https:\/\/nextlevelcoach.as.me\/schedule.php<\/u><\/a><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Coming up next month<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In my next blog post, I\u00b4ll share how to use the Visionary Business Strategy<strong><b>.<\/b><\/strong><\/span><\/p>\n<p>Stay tuned!<\/p>\n<ol>\n<li>Martin Reeves, Knut Haanes, Janme Jaya Sinha, \u201cYour strategy needs a strategy, how to choose and execute \u00a0the right approach\u201d, Harvard Business Review, 2015.<\/li>\n<li>https:\/\/hbr.org\/2015\/06\/navigating-the-dozens-of-different-strategy-options<\/li>\n<li>https:\/\/www.bcg.com\/publications\/collections\/your-strategy-needs-strategy\/classical<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">#blog #blogpost #business #businesscoach #businesscoaching #businessowner #businesses #businessmastery #businessmodel #change #challenge #company #companies #coaching #coach #entrepreneur #entrepreneurship #empower #empowering #leadership #leadershipcoaching #leader #leading #mindset #opportunity #potential #solution #strengths #strategy #strategies #strategyforsuccess #system #success #successful #nextlevel #nextlevel-coach #nextlevelscoach #nextlevelcoaching #nextlevelcoach #marius #mariusbill<\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Copyright 2019-2022, Next Level Coach. All rights reserved!<\/b><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In today\u2019s article I will share\u00a0a brief introduction to the\u00a0shaping\u00a0approach to\u00a0strategy and show\u00a0when you should use this strategy.\u00a0 What is the purpose of the shaping approach to strategy? Whenever the environment is unpredictable but malleable, your company has the extraordinary opportunity to lead the shaping or reshaping of a whole industry. And your company has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5523","post","type-post","status-publish","format-standard","hentry","category-business"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"de","enabled_languages":["en","de"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false}}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/comments?post=5523"}],"version-history":[{"count":3,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5523\/revisions"}],"predecessor-version":[{"id":5865,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5523\/revisions\/5865"}],"wp:attachment":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/media?parent=5523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/categories?post=5523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/tags?post=5523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}