Strategy Is Change
What does your company Strategy say about where your company is headed? Many people think strategy and plan are the same but, we know better. We know that plan is what we try to achieve and strategy is how we are going to achieve it. Before the business start on planning their strategies leaders must first focus on planning the business objectives they need to pursue now and in the future.
You can’t do a satisfactory job with your analysis alone, or, your ‘big picture’ alone, or, your changes alone. You must do a bit of work on all of them. Mission and vision statements are elements of strategy, but they don’t include choices about what businesses to be in and not to be to in to sustain competitive advantage. Plans and tactics are also elements of strategy, but a detailed plan that specifies what the firm will do (and when) does not imply that the things it will do add up to sustainable competitive advantage. Many companies try to optimise what they are already doing in their current business. While this can create efficiencies, it does not address the very real possibility that the business could be putting all their efforts into the wrong activities, while more strategic competitors pass it by.
Strategy is about making specific choices to win in the marketplace, including the choice to create a discipline of strategic thinking and capability within your organisation. Empowering business to effect change and sustainable profit demands new ways of thinking about how to do strategy and make decisions. A sustainable strategy for growth is not about ‘slash and burn’ and getting rid of employees. The only thing businesses need to get rid of is real-waste – missed opportunities, inefficiencies, misplaced or, underutilised talent, lack of productivity and broken processes.
Successful change leadership starts with the board working with management developing a meaningful strategy – what to change → what to change to → whether or, not you’re succeeding. Even more so, the strategic management process sets a blueprint for the culture the business need to cultivate to take full account of the impacts on those people who are most affected by the change gets ignored. With the business world in a constant flux of change, some companies don’t do strategic planning instead they think they should respond to new threats and opportunities as they emerge. For companies that do have a strategy, they skipped some of the important details involved in strategic planning. Part of the reason why 70% of strategies fail to deliver the desired result and the other 30% fail to achieve anything at all.
At Adastra, we believe not only is strategy possible in times of tumultuous change but, imperative for growth and sustainable competitive advantage. In order for any business to succeed they need to have the right planning, the right strategy, and the right execution of these things. We provide the tools, strategic planning process knowledge and expertise to help our clients’ craft strategic plans that are executable and will help their business grow and realise its full potential.