Business Tips
Strategy is Choice
- Details
- Parent Category: Business Tips
- Category: Management
· Where do you choose to play?
· And on that chosen playing field, how do you choose to win?
Without clear choices, businesses have no chance of winning.
For example, they analyse a lot of things before figuring out what is worth analysing and important to analyse. And then, they lay out in a strategic plan what they plan to do. But that isn't very helpful.
What is helpful is making a few key choices about where to play and how to win… (backed by some analysis and lots of judgment).
Without a clear strategy, it is hard to make an intelligent business choice. Although it doesn't guarantee success, a strategy shortens the odds of success.
Organisations can't win consistently without well understood strategies.
Ask yourself these five questions to position your company to win:
1. What is your winning aspiration? The purpose of your business/enterprise.
2. Where will you play? A playing field where you can achieve that aspiration.
3. How will you win? The way you will win in the chosen playing field.
4. What capabilities must be in place? The competencies, (knowledge, skills and attributes), required to win in the chosen way.
5. What management systems are required? The systems and measures that support the capabilities and the choices.
If you would like to read more on this topic, see, "Playing to Win: How Strategy Really Works", A.G. Lafley, (Harvard Business Review Press), where two of today's best-known business thinkers finally get to the heart of what strategy is for: winning, and what it's about: choice.
Go on, ask yourself the above five questions about your business or, business unit. Are you making the right choices in 2013?
If you would like to develop a new strategic business plan or to update your strategic plan, please feel free to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. or telephone 02 6687 7765.
With thanks: Coach2Coach e-newsletter, February 7, 2013.