PROBLEMS IN STRATEGY #1

PROBLEMS IN STRATEGY #1

The 'grand vision' trap

Most firms treat strategy as an exercise in establishing a grand vision; a kind of grand strategy that fits on a single page and provides a pathway for all decisions. That kind of vision or strategy is essential but it is not enough. Too many businesses treat it as the beginning and end of strategy. But, to be effective strategy needs more dimensions, more 'degrees of freedom' than . . .

PROBLEMS IN STRATEGY #2

PROBLEMS IN STRATEGY #2

Mis-reading 'strategy'

The impetus for the grand vision perspective of strategy is, funnily enough, strategy – the other kind of strategy; the military-political form of strategy. Everyone has seen the books on business strategy reinterpreting the writings of Machiavelli or Clausewitz; but that is a different milieu; the objectives are different and the struggle in business is not "primordial violence, hatred or enmity" . . . 

PROBLEMS IN STRATEGY #3

PROBLEMS IN STRATEGY #3

Strategy versus hard work

Along with the first problem – strategy as 'grand vision' – there is the presumption that the hard work is to define that grand vision; nothing could be further from the truth. Once the business has settled on its raison d'être, its grand vision, the hard work must begin. The hard work is the execution of the strategy in to results and performance. But before that can occur, there is a . . .

PROBLEMS IN STRATEGY #4

Coping with uncertainty

By definition, strategy is forward-focused; it is about the future. While there are certain things we can predict with reasonable accuracy over relevant horizons (which differ by company), we can only estimate much of what matters – and what determines performance; thee are some things at which we can only guess. Yet, often the reality of that uncertainty is not reflected in strategy or the firm's strategy process . . .