12 strategy questions that move dreams to reality
The following has been used by permission from the Dan Rockwell at LeadershipFreak blog.
Dreams without strategy are:
- Ships without rudders.
- Passions without direction.
- Excuses for stagnation.
- Comfort to irresponsible leaders.
- Hopes without substance. Rudy Giuliani said, “Hope is not a strategy.”
12 questions that move dreams to reality:
- What business are we in?
- What business aren’t we in? “The essence of strategy is choosing what not to do.” Michael Porter
- What does success look like?
- What do we aspire to achieve? “Sound strategy starts with the right goal.” Michael Porter
- Who are our current and potential customers? Drucker makes it clear, “The purpose of business is to create and keep a customer.”
- Who aren’t our customers? “You can’t be all things to all people.” Michael Porter
- How will we create new customers?
- How will we keep current customers?
- What are current strengths and capacities?
- What strengths and capacities must we develop?
- How will we monitor and measure success?
- What management systems best exploit and enhance our strengths and capacities.
Strategy always faces outward where results come from.
An inward facing strategy assures extinction.
Strategy includes thinking about the future. But, effective strategy is always executed in the present.
“Long-range planning does not deal with the future decisions, but with the future of present decisions.” Peter Drucker
What are the essentials for developing effective strategy? Would love to hear your feedback, based on your experience.
December’s Growth Focus is Strategic Planning. These brief weekly articles are meant to challenge each of us to grow as business leaders. Please feel free to reach out to GCC if you have suggestions and feedback for topics of interest to you.