Strategy - GOOD Decisions

 
“The best long term strategy is to make GOOD short term decisions” - Tim Hoad 

 

Goals: Clarity of direction and purpose – Understanding Value Creation & Critical Success Factors

Opportunities: Understanding operations & customer needs – Economy, Efficiency & Effectiveness

 

Options: Understanding choices, scenarios & constraints – Return on Investment, Risks & Mitigants

 

Dynamics: Awareness of events and changes which alter competitiveness – Innovation & Tactics

 

 

Key points

 

It is the strategy of the business entity that is important - How well are the people within the organisation working together?

 

There is a difference between strategy development and strategy implementation - Good ideas are not the exclusive preserve of senior management!

 

Decisions need to be taken at the right level within the organisation - Failure to take decisions can be as bad as taking the wrong decision!

 

Strategy will mean different things to different people…. All jobs have a strategic element, an organisation, after all, is an “organised” portfolio of activities…..