Strategy simplified
Sanjay Bhana
Chief Energisation Officer | Inspiring Executive Speaker | Strategic Innovator | Project Lead | Mentor & Coach | Trusted Advisor & Thought Leader
Working in the area of strategy, I frequently come across people who believe that one has to be a rocket scientist or genius to develop a strategy ... and yes, whilst we do need intellect and the ability to pull many things together to form a larger picture from which to view the world ... the basic steps involved and questions asked in developing and putting together a strategy are quite logical ... in fact, we all conceive and execute strategies in our lives daily... so I thought, there are many text books, courses and academic views as well as best practices when it comes to the subject of strategy.. Why not spell out the basics... at least my view of it to begin with and anyone who feels they can add to, inform or better this can do so... so here goes...
The challenge with many strategies, is that they are complex and only understood by the few who wrote them or developed them... making it difficult to implement/execute.
Having worked through various schools of thought on the above, the one that resonates well for me is that of Professor Donald Sull who says that in order for a strategy to be implemented it must be understood and remembered - meaning it must be simple... otherwise it’s a book report... :-)
In line with this school of thought, here are some basic questions strategies must answer:
- A clear Why? - What are we in pursuit of/What are we solving for? - Your Purpose?
- A defined What? - What do we want to achieve (SMART objective/s)? The end state: The unique position you want to be in, the competitive advantage you want to achieve, etc. The benefits you expect to realise.
- A Clear How? - The steps I’m going to take to achieve the objectives and sustain my business/org over time, How we are going to unlock value? (Our critical few challenges and the must win battles)
And once this is done, the next step is to communicate it ... and here I’m drawn to the school of thought from Simon Sineck https://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action
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To the reader, What are your thoughts on the above... can you add to it, improve on it or provide an alternate view ... the goal here being to simplify strategy... I’d love to hear your views... comment away.....
Forensic Accounting, Audit and Advisory @ Lighthouse Consultants | Financial Expert, Risk, SOX, Sustainability
8 年In keeping with the "Why What and How", I use a similar model based on "Be Do and Have". So one looks at the end goal, what do you want to "Have" (final product or result)and then goes back to what to you have to "Be" (the people, resources, processes etc. required) and "Do" (Activity and Tasks involved) to achieve this.