Your Strategic Plans Probably Aren't Strategic, or Even Plans
Your Strategic Plans Probably Aren't Strategic, or Even Plans
Published on April 06, 2018 at 08:01PM
An anonymous reader shares a report: Unfortunately, while C-suite executives talk "strategy," they're often confused about what it means. Why this confusion? The problem starts with the word itself -- a scarily misunderstood concept in management and board circles. The most basic mix-up is between "objective," "strategy," and "action." (I see this frequently in published strategic plans as well.) Grasp this, I tell my audience, and your day will be well spent. An "objective" is something you're trying to achieve -- a marker of the success of the organization. At the other end of the spectrum is "action." This occurs at the individual level -- a level that managers are presented with day after day. So naturally when they think "strategy" they focus on what they do. But this isn't strategy either. "Strategy" takes place between these two at the organization level and managers can't "feel" that in the same way. It's abstract. CEOs have an advantage here because only they have a total view of the organization. The key to strategy is that it's the positioning of one business against others -- such GM against Ford and Toyota, for example. What exactly is positioning? It's placement on the strategic factors relevant to each key stakeholder group.
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Published on April 06, 2018 at 08:01PM
An anonymous reader shares a report: Unfortunately, while C-suite executives talk "strategy," they're often confused about what it means. Why this confusion? The problem starts with the word itself -- a scarily misunderstood concept in management and board circles. The most basic mix-up is between "objective," "strategy," and "action." (I see this frequently in published strategic plans as well.) Grasp this, I tell my audience, and your day will be well spent. An "objective" is something you're trying to achieve -- a marker of the success of the organization. At the other end of the spectrum is "action." This occurs at the individual level -- a level that managers are presented with day after day. So naturally when they think "strategy" they focus on what they do. But this isn't strategy either. "Strategy" takes place between these two at the organization level and managers can't "feel" that in the same way. It's abstract. CEOs have an advantage here because only they have a total view of the organization. The key to strategy is that it's the positioning of one business against others -- such GM against Ford and Toyota, for example. What exactly is positioning? It's placement on the strategic factors relevant to each key stakeholder group.
Read more of this story at Slashdot.
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Your Strategic Plans Probably Aren't Strategic, or Even Plans
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April 06, 2018
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