I’m still surprised when I stumble across an organization that formulates their entire organizational strategy around one idea. Businesses that have a singular rather than a holistic strategy, identifying for example “Growth” or “Acquisition” as their sole strategic objective, are either not taking the process seriously or they don’t understand the purpose of a well positioned strategy.
Now the process to identify strategic objectives is too complex to explain here, however what I can articulate is that there are four fundamental areas you should be considering when formulating a strategy, namely:
Now this doesn’t mean you should use these as your objectives, but while you are formulating your strategic objectives you should be considering each of these areas at a macro level, diving down to a micro level to determine the validity, impact and priorities that surface.
“Growth” is not a strategy, it’s a goal that is satisfied by a well formulated and articulate strategy.
© Shawn Casemore 2013. All rights reserved.