Here’s a link to a recent Harvard Business Review blog post titled: Don’t let Strategy become Planning, by Roger Martin. He says: “The vast majority of strategic plans that I have seen over 30 years of working in the strategy realm are simply budgets with lots of explanatory words attached.”
How true! He goes on to say “Strategy is not planning — it is the making of an integrated set of choices that collectively position the firm in its industry so as to create sustainable advantage relative to competition and deliver superior financial returns.”
Strategy sets out to answer 5 questions and you should be able to articulate these on one sheet of paper:
- what is our winning aspiration?
- where will we play?
- how will we win?
- what capabilities need to be in place?
- what management systems must be instituted?
Once you’ve answered these questions, you can go on to develop “Planning” documents, with whatever initiatives, budgets and accountabilities you need.
This links quite neatly with my recent blog post about the Business Model Canvas which is a framework to help create a “Business Model on a page”.
You’ll find some of my articles on Performance Management here.
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