Tag Archives: strategy

…the most over used word in business.

So what is it? And can it be explained without using the phrase “connecting dots”?

I pull from two sources when I define strategy.

In terms of a foundational definition, I favor Patrick Lencioni’s definition from The Advantage: A collection of intentional decisions a company makes to give itself the best chance to thrive and differentiate from competitors.

In order to answer the question, “How will we succeed?”, a leadership team has to create its strategy. This is done by creating no more than three strategic anchors that will be used as filters through which all decisions will be evaluated. No spoilers here as I really love this book, but the process to get there is less than scientific and messy. And that’s OK. Oftentimes putting too much science and too many numbers into the process too soon will not allow you the chance to see opportunities to, as the definition says, thrive and differentiate.

By the way, answering “How will we succeed?” is one of six questions a business needs to answer in order to Create Clarity. Strategy must create clarity. While the process of getting there may be messy, strategy must be clear and easily understood across the organization.

To add some more color and a bit more of the “how” when it comes to strategy, I have done some synthesis and interpretation of various components of CliftonStrengths, something I’ve posted about a couple of times. Using that as a basis, I see strategy as:

1. Spotting and synthesizing relevant patterns or issues within market analysis, customer analysis, and business analytics
2. Generating and prioritizing ways to connect or leverage patterns, or resolve issues, seen in the data
3. Projecting or anticipating how patterns or issues will play out
4. Preparing alternative options to adapt or pivot when things change

I would suggest doing some reflection on how you do the work that comes before you put something into the market, what you may call “planning” to help you grok “strategy”. And, of course, do your own reading on the subject as well. There are plenty of perspectives out there.