Strategy always involves risk because we don’t know for sure how our choices will turn out.
A strategic plan, by definition, is one that’s different from a competitors or one that’s entirely new to an industry. Within that plan there are layers of uncertainty.
But strategy is ultimately necessary (when decided on by the right people in the right seats); it’s what keeps you differentiated, aligned on your core values, and provides the blue print for profits.
Yet, when problems arise, profits tumble, shareholders question your leadership, many think they’re failing on execution, not strategy. They think “If I run a little faster than I’ll exceed more.”
But the truth is that running faster doesn’t help if you’re going in the wrong direction. All things considered (leadership, capabilities, financials, etc,.) any sign of failure can be tracked back to strategy.
The big question is if it’s the wrong strategy all-together or if it’s a piece that can be adjusted and still make the model work.
Or, you know, you can keep shrugging it off to be the wrong execution or not enough of it.
Stay Positive & Ready To Do The Emotional Labor Of Finding Out?
Photo credit
- Whatever You Have To Tell Yourself - May 15, 2024
- Devoted - May 14, 2024
- Don’t Let The Balloon Touch The Floor - May 13, 2024
