A Strategic Way to Enter New the Era of Strategy

We are entering a new era of strategy, transitioning from strategic management to strategic prototyping. In this new era, strategy needs to be on the minds of everyone concerned — all the time. And that’s only a good thing if everyone across the organization shares the same view of what strategy means. Unfortunately, the meaning of the term is often blurred in people’s minds. However, to avoid developing a non-strategic strategy, a firm has to develop a shared understanding. Simply put, strategy is what dictates how everything within an organization is put in motion through defining what it wants to achieve as a business. Firms should consider the following four questions: What does success look like for us and how does that translate into objectives? What businesses are we in and what ones are we not in? What value proposition sets us apart from competitors? What activities do we perform internally and what activities do we outsource, and how do we conduct these activities differently than competitors? Strategy development is a never-ending process — one that needs to be managed and adjusted as market conditions shift. Ultimately, for a strategy to work, it must be owned and supported by the daily decisions and actions of all employees across all levels of the organization.

• Strategy management
• leadership
• corporate planning
• strategy development