Strategy is an integrated explanation of how an organization is going to guide its performance into the future. That’s my basic definition. This is the beginning of a blog series that will elaborate on this definition. Let’s start with the big picture first. I have reviewed hundreds of “strategic planning” documents from organizations. And most of them don’t include much … [Read more...] about What is Strategy?
Strategy
Analysis Cannot Answer the Question “Why”
One of the really great things we do in Business School is to teach students an abundance of analytical tools. There’s the basic SWOT analysis – what are your strengths, weaknesses, opportunities, threats? And there’s . . . Scenario Planning – let’s forecast the possible futures. Balanced Scorecard – how can we predict future performance by tracking metrics in various … [Read more...] about Analysis Cannot Answer the Question “Why”
Multitasking is the Enemy
And yet, it is like an addiction. Aided and abetted by our numerous devices, we all do it. I am not going to try to convince you to go cold turkey and stop totally. But I am going to point out what we all sacrifice when we multitask: creativity and strategic thinking. We know that multitasking robs us of focus. None of us would be very happy if the doctor performing … [Read more...] about Multitasking is the Enemy
Ignoring Stakeholders
One of the first things I do in a strategy consulting engagement is to encourage organizations to create ways to meaningfully involve stakeholders in the process. Often I get responses like: “We already know what they think.” “We just don’t have the time.” “Huh? Why would we do that?” We use the term “stakeholders” to refer to any person inside or outside of the … [Read more...] about Ignoring Stakeholders
What Does a Great Strategy Report Look Like?
I am often asked about what a good strategy report looks like – the kind you would submit to your Board and then use to guide your organization for the coming years. I have seen this done well by a number of organizations, and done poorly by even more. But, recently I had a chance to work with a group – Health Care for the Homeless in Baltimore – which I think has done an … [Read more...] about What Does a Great Strategy Report Look Like?