The PeopleAlchemist Edit: change & transformation, business & lifestyle experimentation for TheWomanAlchemist – When business strategy is no strategy at all
Most business strategies fail because, simply speaking, they are not strategies. At all. They are just a list of goals and aspirations rather than clear direction and choices. For example, some would say, “We want to be N1 in our market and double our market share”. But this is not a strategy; it is an outcome.
A clear vision is, of course, essential for any business to be able to grow.
Nevertheless, an actual strategy involves a clear set of choices that define what the company will do and what it will not do. To get to the goal/s.
You need a method ( aka strategic choices) to achieve that goal, and the simpler, the better.
The most successful strategy has simplicity at its core. Simplicity brings strategic clarity, which makes the business resilient and sustainable.
The simpler and shorter, the better.
Why is that? So it can be easily related to and understood by employees and, ultimately, executed.
If your strategy is 85 pages of PowerPoint ( or whatever gismo you are using), you have a problem.
Nobody is going to remember it, and less than less, implement it. Not even the leaders.
And when you are making choices, for example, which technology to adopt and to what extent, choose the ones that are right for your business right now that will take you where you want to go. Easily. Technology to suit the business, not the business organised around technology.
So, first comes the Vision with clear goals and then a strategy to actualise it. I know it sounds simple and common sense, but you’d be surprised how common sense is not that common.
What do you think?
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