Which would you prefer? Imagine that the proverbial magic genie appeared at your door and offered you either a “good strategy” for your future or a “great plan.” Which would you choose? Just send me a quick email at email@example.com to let me know. You don’t have to provide your reasoning, but if you do then I’ll provide some summaries of reader comments when I report … [Read more...] about Quick Reader Poll: Good Strategy vs Great Plan
“How am I supposed to create a strategy for the next three – five years, when I have no idea how the environment is going to change in even the next three months?” This was a very astute question asked during the Breakthrough Strategy seminar I taught earlier this week for nonprofit executives in Columbus, Ohio. In an environment that has been called “permanent white … [Read more...] about Strategy in Uncertain Times
There is no “factual” way to know the answer to this question. And it drives a lot of people mad. But strategy is not a math question with right or wrong answers. You “create” a strategy based on your aspirations and, yes, some hearty analysis of your strengths, weaknesses, opportunities, and threats. But there is no way to tell if you have created the “correct” … [Read more...] about Do We Have the Correct Strategy?
Making Strategic Choices is risky. Often when I give strategy examples to clients or executives I am teaching I will hear the comment “That sounds risky.” This response does not consider the risk of continuing to do things the same way. In his books and teaching, Dr. Russ Ackoff would often make the distinction between errors of “commission” – doing something that should … [Read more...] about Risk vs. Irrelevance
“What would we do with a $500, 000 windfall in revenue?” This was a question that a fellow Board member asked the rest of us at a recent meeting. “What a great question,” I thought. “I am so glad we have Puja on this Board.” But, our inability to answer her question with ideas that were well thought out makes me think we should revisit this question at a future … [Read more...] about The $500,000 Windfall