What I Found Out About What Is Strategy?

3 Parts of Strategy

Remember the core of strategy? The core of strategy is to overcome future challenges.

Imagine right now:

There are future competition that will rise to compete with you.

There will be complex tasks that you have not learned.

There are goals that you have not imagined before.

There are future situations that are unexpected and uncertain.?

Then what is STRATEGY?

Strategy is to be in a unique / favourable position or be in advantage using an action plan in order to overcome a challenge. It is defined into three parts: vision/mission, action plan and tactics.

There are 3 parts of strategy to take note:

1. Vision / Mission: How you see the future?
2. Action Plan: How you get there?
3. Tactics: How will you overcome the challenges and win?

Part 1 of Strategy - Vision/ Mission ??

In order to overcome future challenges, we need to actually first know how we see the future and what's the role you play in the future.

Give you a simple future challenge- your son's birthday is coming in 6 months' time- what's your strategy?

You will imagine the future.

You will forecast the challenge.

You will internalise or discuss how you see how the son's birthday will be.

You will think about what role you play in preparation for your son's birthday.

Vision:

The long-term goal or desired outcome that the strategy aims to achieve. It's a broad, overarching statement that defines where you want to be in the future.

Example: Vision (See the Future)- It’s my son’s 16th birthday and it’s the school holidays in 6 months time. I will plan to bring my family over the weekend to Bali to celebrate his birthday.

Mission:

A concise statement that outlines the purpose of our role in the future- including the benefit and outcome when it happens. This will play out what the relationship between your role and the future.

Example: Mission (Play the Role)-? During the preparation period, I will plan the activities and itinerary to prepare for the Bali trip. The end-game during the trip will be enjoyment and fun experience for the whole family.?

Hence, vision and mission are essentials parts of making a strategy.

This is a simple future challenge. Think about a future challenge that is VUCA or if you are not sure what role to play in that future.. that will require much more of your strategist skills!

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Part 2 of Strategy- Action Plan ???

In order to overcome future challenges, after we see the future and what role to play- we need to know how we get there.

Think about yourself as a project manager in charge of a 'future' project- everything is likely forecasted- the steps, timeline and resources.

Again, take example of simple future challenge- your son's birthday is coming in 6 months' time.

Action Plan:

Steps: Clear and specific action steps derived from the vision and mission that guide the direction. These steps will determine the progress and movement of the how to get there.

Example:? I will overall plan high-level steps in preparation for the birthday trip:?

Discuss with wife and family Save up for the trip

Book the right resort?

Block dates and take leave?

Book air tickets

Buy insurance

Resource Allocation: Determine how resources such as finances, human capital, and technology will be allocated to achieve strategic objectives efficiently.

Example: I will determine that I will require budget of $2000 for Bali trip per pax.

Implementation Timeline: Establishing a timeline for executing the strategic plan, including milestones and deadlines for key initiatives.

Example: I have a timeline of 6 months, leading up to the trip itself. Some timeline has more urgency or consequence such as the booking of air tickets late may result in higher costs.?

Hence, the action plan are essentials parts of making a strategy.

This is a simple future challenge. Think about a future challenge that has multiple stakeholder, with different requirements and needs or if the resources and timeline is not within your control .. that will require much more of your strategist skills!?

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Part 3 of Strategy- Tactics ??

In order to overcome future challenges, after understanding how we get there- we need to brainstorm some tactics to make it better / win the challenge.

Think about yourself as a tactician to win over the challenge and to brainstorm good ideas.

Let's brainstorm some tactics for the birthday party..

Tactics:

Specific Actions: Detailed plans or activities designed to accomplish strategic objectives. Tactics are the practical steps taken to execute the action plan.

Methods: Techniques to be able to overcome the challenge and win. It could be having stronger or better solutions, new or innovative ideas as well as techniques to get advantageous or favourable.

Example: Book the right resort- you can brainstorm different tactics that can give you son the best birthday experience.

Tactic 1: Adventure at Bali- where there are beach activities like surfing, skiing and ATV rides

Tactic 2: Relaxation in Bali- Book session at a renowned Balinese spa to unwind with traditional massages and therapy

Tactic 3: Nightlife in Bali- Plan a night out at one of Bali’s top beach clubs or rooftop bars- to enjoy music, dancing, and socializing + get a few of his friends to join!

Hence, the tactics are essentials parts of making a strategy.

This is a simple future challenge. Think about a future challenge that will require more brainstorming to win or overcome the challenge.. that will require much more of your strategist skills!?

Now that you know the 3 Parts of Strategy using this simple analogy- please go ahead and apply strategy in your future daily challenge- your mindset will shift!

Last Words

I will be adding more articles on Design Thinking, Strategy and Innovation throughout the year. I will share insights on the various 5 Step Action Plans- Design Thinking Action Plan, Strategy Action Plan and Innovation Action Plan will be added periodically to give my readers a broader insights to be a successful professional in the marketplace!

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About the Author

Daniel Ling is a regional Design Leader, and certified Design and Agile Coach with 15 years of experience in the financial and e-commerce tech space- who moulded himself to be a “designer in a business suit”- strong in the Design Thinking process and yet relevant to the industry. He is proficient in the digital and transformational space- in the area of design leadership and management, research, strategy planning and coaching.

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