Strategy Is… Hmm…(Part 2)

A new study of 163 CEOs, senior strategists and communications professionals, conducted by Forbes Insights and FD in conjunction with the Association for Strategic Planning and the Council of Public Relations Firms,  looks at corporate strategy development and implementation. Of special interest was the interdependence of strategy and communications in creating and executing a successful strategy.

Their Nr.1 key finding?

…While senior management does not have a common definition of what strategy is at the conceptual level, it does have a very clear definition of what strategy is not, as well as a very clear, pragmatic definition of what types of corporate initiatives are and are not strategic…

In Strategy Is… Hmm…, we talked about Chris McCall’s three fundamental questions about strategy:

  • What business are we in?
  • What business should we be in?
  • How do we get there?

So, if senior management does not have a common definition of strategy, that means they are not on the same page in regards to the three questions above. Am I the only one who finds this extremely disturbing?

Luckily, I am not.  Mitch Ellner, CEO of CNC Strategy Cloud Solutions, talks about this in his post  Strategic Planning – the “Strategy” of all 3 Resources.  With three resources, he means people, processes/information and finances.

“Businesses need to begin to look at all 3 strategic resources – people, processes, finances – to measure and thus manage against, and with begin to look at this as a part of the business – ongoing, habit and consistent – not as a “project” that has a start and stop. Strategic Planning, strategy, alignment, execution, et al. has no start and stop. It does have change.”

4 Yorum

Filed under Posts In ENGLISH

4 responses to “Strategy Is… Hmm…(Part 2)

  1. I like the idea of having Strategic Resources. What about ideas though – would you add Innovation to the mix, or would you suggest that these come from ‘people’? Or would you argue that the core business idea would always remain the same?

    Great post – great references!

    Venessa

    • Thank you for your comment.

      I would like to think that Innovation comes from all three of these resources, so it would be be considered a result rather than a resource. Innovation is when ‘people’, who observe and experience the ‘processes’, come up with ways of improving or replacing these processes, subject to availability of ‘finances’. So yes to both options, Innovation does come from ‘people’ tweaking with ‘processes’ and yes, the core business idea would remain the same in its essence.

  2. Geri bildirim: Understanding, Defining and Achieving Innovation | AllianceOptima Blog

Yorum Yapın / Make A Comment

Aşağıya bilgilerinizi girin veya oturum açmak için bir simgeye tıklayın:

WordPress.com Logosu

WordPress.com hesabınızı kullanarak yorum yapıyorsunuz. Log Out / Değiştir )

Twitter resmi

Twitter hesabınızı kullanarak yorum yapıyorsunuz. Log Out / Değiştir )

Facebook fotoğrafı

Facebook hesabınızı kullanarak yorum yapıyorsunuz. Log Out / Değiştir )

Google+ fotoğrafı

Google+ hesabınızı kullanarak yorum yapıyorsunuz. Log Out / Değiştir )

Connecting to %s