What is Strategy?

Strategy is the most direct, engaging, and therefore sensible route to the things you really want, says Leadership & Performance Coach Davina Greene.

Ah, strategy – that elusive yet essential concept that permeates every aspect of our personal and professional lives. It’s the roadmap to success, the compass that guides us through the turbulent seas of uncertainty and change. But what exactly is strategy, and why is it so crucial in today’s fast-paced world?

Understanding Strategy

At its core, strategy is about making choices – deliberate, thoughtful decisions about how to allocate resources, focus efforts, and achieve objectives. It’s the art of setting goals and determining the most effective way to reach them, all while navigating the myriad challenges and opportunities that lie ahead. But strategy is not just about planning; it’s about execution and adaptation in the face of complexity and ambiguity.

In the corporate realm, strategy is the lifeblood of organizations, guiding everything from product development to market expansion. It’s about positioning a company for long-term success in a competitive landscape, identifying strengths and weaknesses, and capitalizing on opportunities while mitigating risks. But strategy is not just the purview of executives and boardrooms; it’s a mindset that permeates every level of an organization, from frontline employees to middle managers.

Building Strategy

So, what does it take to develop a successful strategy?

Well, it starts with a clear understanding of the organization’s, or person’s, purpose, vision, and values. It’s about defining what success looks like and aligning every action and decision with those overarching goals. But effective strategy also requires a deep understanding of the external environment – the market dynamics, competitive landscape, and emerging trends that can impact the organization’s success.

But strategy is not just about reacting to external forces; it’s also about harnessing internal capabilities and resources to drive innovation and growth. It’s about fostering a culture of agility and adaptability, where employees are empowered to take risks, experiment with new ideas, and learn from failure. It’s like cultivating a garden, nurturing seeds of innovation and creativity until they blossom into tangible results.

See the figure below, Rocket Fuel Learning’s ‘Organizational Strategy Overview’ Model. There are two parts to the equation: the Conversations that drum up the knowledge and the ideas, and the Actions that set the wheels of ever-increasing success in motion.

Organizational Strategy Overview Model

At the highest level, the Action is kick-started via an aim that is expressed as that longer-term Mission and/or Purpose, and then as a shorter-term Vision expressing  the next stage the organization wants to reach. All of this is then broken down into Goals, and those goals into the ‘baby-step’ component parts of a multitude of Initiatives, all of which need to be worked on by one or more departments of the organization (Finance, Marketing, Legal etc).

For most effective and efficient performance of all of this, it must be built on a bedrock of organizational Values, Behaviors and Acumen, with learning and progress continuously reinforced and strengthened through constructive Coaching conversations across the entire structure, ideally as part of a Coaching Culture.

And, of course, the outcomes of one set of Actions then lead to new conversations, in new circumstances, that create new Conversation content that will lead to new Actions in the future, to bring the organization to the next stage.

How do you get to build up to, or control, such huge conversations and plans? Follow something such as my CREATE model for each component, taking you – or your organization – from today’s situation to the situation you want, and gathering the detail needed to contribute to that greater plan.

The CREATE Planning & Strategy Model

All in all, your aim to express all of this in such a way that individuals and teams can align themselves easily to it, to steer the organizational ship in one solid direction. All of this requires an acceptance that it is necessary to find focus by slowing down to then speed up, rather than continuing to run like hamsters in wheels, doing much but achieving little.

Strategy: What Is It Not?

Now, let’s address some common misconceptions about strategy. First and foremost, strategy is not static or rigid – it’s dynamic and evolving, constantly adapting to changing circumstances and new information. It’s about staying nimble and responsive in the face of uncertainty, embracing change as an opportunity rather than a threat.

Furthermore, strategy is not just about setting lofty goals or crafting elaborate plans; it’s about execution and implementation. It’s about translating vision into action, aligning resources and priorities, and rallying stakeholders around a common purpose. It’s like conducting a symphony, where every instrument plays a crucial role in creating harmony and coherence. Having a strategy ensures that you have something against which to examine your business activities. It’s a key way to ensure that all of the dynamism you’re seeing in your organization is in fact aimed in the right direction, towards the attainment of a Vision, and not just a display of futile busy-ness.

But perhaps the most important aspect of strategy is resilience – the ability to persevere in the face of setbacks and obstacles. It’s about maintaining focus and determination, even when the path ahead seems daunting or uncertain. It’s like weathering a storm, knowing that calm seas lie beyond the horizon if we stay the course.

Conclusion

Strategy is the cornerstone of success in today’s complex and dynamic world. It’s about making smart choices, taking calculated risks, and adapting to changing circumstances with agility and resilience. In organizational terms, it must be supported through engagement and continuous coaching.

So, to all the aspiring strategists and leaders out there, heed these words: embrace the journey, stay true to your vision, and chart a course to success that will withstand the test of time.

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