| Just as you would develop a vision to support a | | | | reside. Several examples of supporting strategies |
| mission, so too, it is necessary to generate a | | | | are: sales, marketing, innovation, technology, |
| strategy for accomplishing the mission and the | | | | service, global, quality, acquisition, partnership, |
| implementation of a vision. Strategy is the unique | | | | human resource, learning and growth, succession |
| formula or nucleus around which plans can be | | | | planning, retention, and leadership development. |
| formed which leads to organizational success. | | | | In the 21st Century, intellectual capital, information |
| Developing strategy is not that complicated yet it | | | | capital, and human capital will require strategic |
| is an underused activity in many organizations. | | | | thinking and planning as never before. These areas |
| Figuring out strategy can be as basic as where is | | | | will determine the success of many if not most |
| the organization today? Where does it want to be | | | | organizations as we move from the "information |
| in the future? Where is our competition today? | | | | age" to the "knowledge age." Alignment of these |
| What is our cost position to beat them in the | | | | areas must be put in place and used to fulfill |
| future? Strategy simply defines the logic and | | | | organizational objectives. For the greatest |
| tactics that ensure the mission and vision will be | | | | organizational success, intellectual, information, and |
| achieved. | | | | human talent capital should be directly linked with |
| Quite often when the subject of "strategy" is | | | | the traditional measures of strategic success, |
| discussed, it is assumed that we are talking about | | | | such as revenues, gross margins, profitability, |
| decisions and plans that will be made out there, | | | | return on investment and market share. As an |
| somewhere in the future. The challenge for many | | | | organization you should be asking the question are |
| organizations is to understand that they have to | | | | we putting in place strategies that are aligned at |
| make decisions in the present that will help shape | | | | all levels throughout the organization. |
| their future. We need to fully come to the | | | | Solid leadership combined with intellectual capital |
| understanding that the best possible choices made | | | | and great human talent allows a key strategy to |
| today will in fact determine much of how your | | | | emerge - innovation. Quoting Peter Drucker, |
| future will play out. Your strategic choices today | | | | "Business has only two basic functions: marketing |
| are not about future decisions, but about the | | | | and innovation. Marketing and innovation produce |
| future impact of the decisions you or your | | | | results. All the rest are costs." Innovation is "the" |
| organization make today and plan to make | | | | basis of all competitive advantage and the means |
| tomorrow. Simply stated, what must be done | | | | by which the organization anticipates and satisfies |
| today and tomorrow that will help us arrive at our | | | | the customer's needs. |
| desired future? | | | | Innovation is the way the organization uses |
| Because of the rate of change organizations face | | | | knowledge and technologies to create wealth, |
| today, the older notion of a five-year strategic | | | | beat the competition, and pursue growth. Growth |
| plan has changed. Agile, fast moving, and "evolving | | | | is what it's all about. Growth is the great |
| strategies" that ensure the success of the core | | | | elixir...both personally and in business. At all times |
| business have become the norm in | | | | an organization should be in the process of |
| high-performance organizations. Evolving strategies | | | | transforming itself through an innovative and |
| that are continually calibrated against results, | | | | evolving strategy, so it can more effectively |
| provide the clarity required in organizations, and | | | | position itself to occupy a new strategic space in |
| help set more relevant direction for all to follow. | | | | its industry. Without enlightened leadership and an |
| Without a clearly defined and closely followed | | | | evolving strategy, organizations rarely stay |
| evolving strategy, organizations of all types tend | | | | innovative and achieve growth. |
| to lose sight of their direction. Energy is wasted | | | | A final step with regard to strategy is |
| on doing things that are non-value added. | | | | implementation. When a new or radically different |
| An organization without a strategy is like a ship | | | | strategy is formulated, it most likely will involve |
| without a rudder - it moves, but without direction. | | | | structural changes to the organization along with |
| If you are in a for-profit business you should | | | | policy and procedural changes. Change always will |
| constantly be asking and answering the questions; | | | | call upon leaders to handle the tangible as well as |
| how do I make money today? How will I make | | | | the intangible variables, including the motivation and |
| money tomorrow? What are my strategies | | | | commitment of people, possible restatement of |
| today? What will be my strategies tomorrow? If | | | | values, the modeling and monitoring of behaviors, |
| you are a member of a non-profit and | | | | and the establishing and networking of |
| government organization you should be focusing | | | | relationships. |
| on what are my strategies for providing services | | | | When a serious attempt is made to transform |
| today? What will be my strategies for providing | | | | any organization, the return on investment in the |
| services tomorrow? What is my strategy if | | | | building and linking of strategies to accomplish the |
| revenues decline? How can our organization serve | | | | mission and vision of the organization will be |
| the greatest good with the right amount of | | | | substantial. Strategic thinking, coupled with having |
| expenditures? All organizations should be making | | | | the right intellectual, innovation and solid |
| sure that whatever strategies they use... they are | | | | implementation execution will allow the organization |
| clearly understood by all stakeholders. | | | | to both sustain itself and grow. This great |
| Under the umbrella of an overall "business" | | | | combination is where the rubber meets the road. |
| strategy, many other supporting strategies can | | | | Great strategies begin with solid leadership! |