Strategy is an integrated explanation of how an organization is going to guide its performance into the future. In Part IV of “What is Strategy?” we put everything together. You have chosen your future with your Vision & Strategic Goals, and you have discerned your SWOTs. Your Strategy answers the question “How do we get from there (your Current Reality) to here (your … [Read more...] about What is Strategy? Part IV
Strategy
What is Strategy? Part III
Strategy is an integrated explanation of how an organization is going to guide its performance into the future. In Part III of "What is Strategy?" we consider your current reality. Once you have identified the future to which you are headed (e.g., Vision, Goals) then the obvious question is “How are we going to get there?” But don’t start brainstorming just yet. Before … [Read more...] about What is Strategy? Part III
What is Strategy? Part II
Strategy is an integrated explanation of how an organization is going to guide its performance into the future. In installment #2 of “What is Strategy?” we consider an organization’s future. If Strategy guides performance “into the future, ” then an obvious question is “Where are you going?” To answer that question, I first suggest that an organization identify its Mission … [Read more...] about What is Strategy? Part II
What is Strategy?
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?
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”