In most part of the world, companies go through their corporate planning exercises, at this time in December, January and February. There are decisions, trade-offs and choices you have to make during this period as many Corporate planning techniques like portfolio planning, core competence analysis, corporate mission statements, value-based management, and parenting concepts will be employed. A good planning process should be focused on creating value. So now its more than ever important to discuss the precision of value.
What is the precision of value? It’s the specifics. Delivering value means you need to produce things in a certain way. This means stepping outside your narrow thought and understand the why’s. Focusing on the elements that’s scarce and valuable , keeps you in the long-term value game. If something is no longer scarce, it’s not going to be valuable for long. This is where society eventually wants to go, and you’ll get paid extremely well with a huge competitive advantage.