"Saying ‘no’ is important for focusing on what really matters"
"Companies that succeed in focusing have a greater likelihood of successfully navigating their transformation", says transformation manager Janis Steinfort. Many empirical studies support this. One reason for this is that in many companies, 20 percent of products generate over 70 percent of the contribution margin, yet resources and management attention are distributed evenly across all products.
Strategic focus, however, is not just about narrowing the product portfolio, but also about reflecting on a company’s key strengths and unique selling propositions. "Sharp nails go into the wall better", says transformation manager Georgiy Michailov.
In this episode of SMP Leading in Transformation, Janis Steinfort and Georgiy Michailov offer many practical tips on how to achieve “strategic refusal”—from selecting the right metrics and identifying where opportunity costs arise to the role of entrepreneurs as "disruptors" within their own organizations.
*Video only in German
