Here are some things to consider as you develop and execute strategy for your unit.
- Control what you can and influence what and whom you must.
- Keep up with the pace of change or risk becoming irrelevant.
- Most business strategy is people dependent – know and respect your stakeholders.
- Unless you’re selling a commodity, trying to be “the best” may be a waste of energy. Unless your offering is unique and valuable to customers, you’ll compete on price.
- Strategic thinking is necessary but insufficient. If you can’t make decisions and execute them, it’s just wishful thinking.
- Assumptions will make or break your strategy.
- Be careful of the “do more with less” mantra – sometimes you get less with less.
- Strategy may be about efficiency; but it’s always about effectiveness.
What would you add to our list?
We will be launching a five week pilot course focused on building Pragmatic Strategist skills. Watch for the announcement in August.