Does every organization need a strategy? If you have a strategy what good is it? What should you be doing with your strategy? Why should you care? With so many people today throwing around the term strategy, are you sure what they mean?
Strategy, for business purposes, has many interpretations by experts. From Porter to Kepner-Tregoe to Mintzberg, everyone has an explanation. So why should you care? Because the biggest differences between those organizations who struggle to survive & those who thrive can be distilled down to 2 keys: 1) a solid strategy & 2) the implementation of that strategy (more on this in another blog).
Your strategy is the result of the decisions you make. It is about means to an end. It is the what you want your organization to do. The Why is your Vision & the How are your goals & actions (aka implementation).
What is the best way for you to employ your resources? The strategy you select will make or break the entity. The strategy you chose sets your path toward success because everything the firm does to accomplish your strategy makes your organization better & moves it closer to achieving your desired goals.
Lower costs? Faster service? Better quality? Larger variety? Expand, contract or diversify? All strategies that might work for your firm. If you have performed an assessment before choosing a strategy, we’ll assume it is the best strategy for you.
Many firms put more thought into their annual retreat than their organizational strategy. Too bad. The strategy will earn a much bigger return over time, is sustainable & should evolve. It is how you succeed!
A good strategy can make your firm a winner. A bad strategy can kill it; until you recognize this & change it. No strategy is like floating in the ocean on a life raft: perhaps things will work out…
For more on this contact me at DanielFeiman@BuildItBackwards.com