Strategy – GOOD Decisions
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…..