For me, as a strategic thinker, I see this as a deeply interesting question. Firstly, I believe that the point of what is strategy is central to what happens in our world today.
However, this is under pressure like never before from the demands of instant success, especially with the power of recent innovations in communication and technology.
I see that strategy drives so much of what moves our world forward. And yet, many people believe that we live in a world where everything seems to just happen. Some believe that success just happens or that it’s down to luck or some other reason.
Of course, that’s not the case at all. To move the world forward takes planning. To move a business forward takes planning and lots of it. Actually, what it takes is a strategy. It takes strategic planning to define the steps a business needs to take to achieve success.
When a business fails, then more often than not it’s a lack of a strategy that’s the cause.
I believe that by clearly defining the business strategy, we can understand what is strategy and crucially understand why it matters. So, let’s start at the beginning.
A plan of action designed to achieve a long-term or overall aim.
What is Strategy?
In business, a strategy is a pathway to enable a business to grow. And make no mistake a business needs to grow in order to survive. Some people might question this logic, but a business that stands still is a business that’s at risk of failure.
It is surprising though how often people fail with their business strategy. So, why is this, especially as we know more about the theory of strategy than ever now.
It is my belief that strategies in business have never been more challenged than they are today. Our desire, our greed wants us to have it now, for this reason, we see more pressure on strategies to deliver.
This concept of having it all now is a problem, actually, its a distraction.