Video Critique Report
MBA 681 – Hashmi
Christian Schwamberger
Paper # W2
Word Count: 862
I. Use Strategic Thinking to Create the Life you Want.
Rainer Strack, in "Strategize Your Life," applies corporate strategic thinking to personal life. The result is a seven-step program that
helps individuals develop their life strategy on a single page. The idea came from Strack's background in physics and management consulting. He wondered if strategic thinking could be applied to his personal life, leading to the creation of "Strategize Your Life”. He stated that a life strategy is defined as "an integrated set of choices that positions a person to live a great life." This is a shift from the corporate definition of strategy, which focuses on winning. The seven steps in the program are: 1. Define success: How do I define a great life?; 2. Identify purpose: What is my life purpose?; 3. Create a vision: What is my life vision?; 4. Assess life portfolio: How do I assess my life portfolio?; 5. Learn from best practices: What can I learn from others?; 6. Make life portfolio choices: What choices should I make?; and 7. Ensure successful, sustained change: How can I ensure change? Defining a great life goes beyond money, fame, and power. Instead, Strack suggests using the PERMA-V model from positive psychology, which includes positive emotions, engagement, relationships, meaning, achievement, and vitality. Assessing one's life portfolio involves identifying strategic life units (SLUs) and allocating time, money, and energy to them. There are 16 SLUs, including significant other, family, sports activities, jobs,
and faith. By rating the importance and satisfaction of each SLU and plotting them on a 2-by-2 matrix, individuals can identify urgent SLUs (high importance, low satisfaction) and areas for improvement. Portfolio choices can be made by changing the satisfaction level and time invested
in each SLU. The goal is to have a portfolio aligned with one's purpose, vision, and dimensions of a great life. While a great life may involve some luck, Strack argues that "Strategize Your Life" helps individuals prepare for opportunities and serendipity. As Seneca said, "Luck is when preparation meets opportunity." (word count 329)
II. How Starbucks Beat the Odds in Italy. Starbucks, the world's largest coffee company, opened its first store in Italy in 2018, modeled after the unique coffeehouse culture of Milan. The
$7 billion cafe market is the second-largest in the world, and coffee is deeply ingrained in the country's culture. Starbucks has 20 locations in Italy, all owned and operated by its Italian licensee, Percassi. Italy's coffee market is worth $11.8 billion, and about 14 billion espressos are consumed each year. In the south of Italy, it's customary to buy two coffees, one for you and one for a stranger. Starbucks is known for getting its customers' names wrong, and the typical order at a coffee bar in Italy is much simpler than an average Starbucks order. To ensure a smooth transition into uncharted territory, Starbucks partnered with an Italian brand manager and other local businesses. They worked with local craftsmen and Italian materials to adapt the design of their shop to fit the culture, and the chain also partnered with an Italian baker to adapt its menu to
local tastes. Some believe the taste profile of Starbucks coffee is similar to that of Italian coffee, as the chain sources Arabica beans from 30 countries around the world. However, not everyone agrees. Many Italian customers go to Starbucks for a unique experience, and holding a Starbucks
