David Maister has just added a second podcast to his latest series on "Strategy". Called "Strategy and the Fat Smoker", it's well worth listening to, whether or not you are in the business of "professional services".
In fact, I hesitated to blog this link because I wondered whether it would really be of any relevance to LloydLaw clients, but I think there are very few of them who would not benefit from David's insights.
I tend to take the view that there is a great deal of overlap between "professional services" businesses (i.e. lawyers and accountants) and most other businesses. The vast majority of people involved in the day to day running of all these businesses learn how to run them as they go along, and blogs and podcasts are helping to fill the gap between the practical (i.e. what you learn by running a business) and the academic (i.e books and formal training).
Of course, if you read management guru Tom Peter's lastest post, you will find him advocating "execution" over "strategy" any day. Actually, I don't think David and Tom are that far apart, given that David starts with the clear view that "much of what companies do in the name of strategic planning is a complete waste of time". Whilst, I am paraphrasing, he largely proposes that businesses create a set of principles for that business and stick with them. I doubt he'd argue much with Tom Peter's view that it is all about "Execution + People + Customers + Enthusiasm + Excellence". Which, as we all know, is a lot easier said than done!
Comments