Occasionally, I hear prospects talk about strategy as some vague, perfect state in the future. Something that occurs when you think hard, surround yourself with smart people and wait for the stars to align. You shake the Magic 8 Ball and it replies, “It is decidedly so."
Actually, that’s not strategy. That's wishful thinking.
Strategy is a plan of action designed to achieve a major goal. It's thinking and action, together. In other words, strategy includes the journey and the outcome.
That's why a well-conceived strategy will provide you with the tools to help your organization build, measure and learn.
And it's why a thoughtful strategy is your single most valuable tool during times of change.
YOUR ACTION STEPS
Following are three examples where a clearly defined strategy will support and strengthen your organization during transition. Take a look and determine if your organization needs to spend more time developing a strategy for a current or upcoming shift:
Leadership Change – Having a clearly articulated strategy helps to identify the skills needed in a new leader, helps the organization create a position description and criteria to help with candidate selection and provides a way to measure job performance during that first critical year.
Board Composition – As business as usual shifts, so will the things you require from your board. Setting some near-term strategic priorities helps to identify gaps, steers your cultivation and recruitment strategies and provides a framework for the board to measure performance and practice accountability.
New Offerings to the Market – Adding or replacing products and services can be very difficult and risky. Those decisions should be made within a strategic framework that takes into account customer needs, your value proposition and gaps in competitive offerings. Strategy also provides a road map for the new product or service launch, pinpoints milestones and sets forth a timeline for keeping things on track.
