If you want to operate a bank, you must have the capability of raising the minimum regulatory capital requirements as well as other governance requirements by the regulator and your respective best practices.
If you want to eat meat, you must have the teeth to chew it. You need the capability. If you want to operate a hospital, you must have the right skills and medical equipment. And if you want to teach MBA students, you must have the capability to deliver an outstanding lecture.
What resources do you need to win? You can not operate a radio or tv station without a specific frequency channel assigned to you? You need it and then you can invest in the right transmission equipment!
Think in terms of money, materials, markets, manpower, makeup and machinery —you need to win. What specific resources do you need to win, not what resources DO YOU have to win?
Previously: #Mindspark 9: What is your ambition?
In the comments below, list all the resources you need to win to attain your ambition, win in your playing field and win with the chosen competitive dimension of low cost or differentiation focus you have chosen.
What resources or capabilities do you need to win? Many companies go to war without having specified what arms and marksmanship they need to win. In the end, they are beaten and killed and arrested as prisoners of war. Reason: lack of understanding of the enemy and the resources needed to defeat them as well as have a protracted war.
If you cannot win the war, don’t go into it.
Copyright Mustapha B Mugisa, 2020. All rights reserved