Pick up one of the many books around leadership and you might get the impression that creating strategy is all about blue sky thinking and away days. In truth, creating and delivering on a business strategy is a major challenge. So what is key to creating strategy?
Key 1: Get Clear On The Now
Before you can start to think about the future, you need to get clarity about where you are now. For larger organisations this probably means doing a lot of analysis of the different sectors or areas in which the business operates.
Key 2: Scan the Horizon
This is essentially about identifying what is lying ahead and how it might impact on the organisation or specific parts of the organisation. Look, for example, at the impact the internet has had on traditional areas like print advertising or even recruitment.
Key 3: Listen To Your People
It is often those closest to creating a product or delivering the service who get insights into what is possible. Too often this valuable asset is overlooked.
Key 4: Don’t Get Set In Stone
It’s a balancing act. You need to put a stake in the ground and avoid chopping and changing all of the time. At the same time you don’t want things so set in stone that you cannot adapt to changes in the marketplace or regulation.
Key 5: Break It Down
5 years is a long time in the life of a business. You will have your long term vision or direction of travel, but you need to break it down to smaller milestone or targets to be achieved along the way.
The truth is there is no magic formula to creating strategy but focusing on some key things can make a big difference.
Duncan Brodie of Goals and Achievements helps accountants and health professionals to become highly effective leaders and managers. He invites you to take advantage of his free audio e-course Leadership Success at www.goalsandachievements.co.uk
Since 2006 I’ve worked with in excess of 8,000 accountants and professionals in workshops, seminars and one to one helping them land their next jobs and become better leaders, presenters and business partners. Before that I spent 25 years in accountancy climbing the career ladder from Payments Clerk to FD. I’m a CIMA Fellow, Certified Professional Coach and Team Coach Facilitator.