How can you contribute to a company's strategy development?

You need to establish your listening posts. That requires both internal (not just executives) conversations, customers/clients, analysts and industry/financial analysis. Unique and forward looking views of how to compete and where you can establish advantage from the channels is critical. Any any level in an organization ideas are being generated, having a voice and manner to collect those voices and rise them to the surface creates competitive advantage. Ultimately strategy lives and dies on execution. The best strategy in the world won't be successful without buy-in and execution throughout the business. A good strategists can help people realize the strategy and how to live and breath the decisions each day.

What is Strategy? * It's about unique activities. * It's about being different. * It's about trade-offs. * It's about choosing. * It's about combining activities so they fit. * Operational effectiveness is not strategy

From years of being a strategy and management consultant, I've rarely seen strategy done well - not because of intentions but because of a lack of understanding of what strategy really is. Identifying the key question to be answered, rigorously laying out hypotheses, using facts and data to rule out hypotheses, before drawing insights from the analyses requires discipline, neutrality and deep commitment to finding the right answer. Companies asking business unit owners to do strategic planning is impure because it's often done by people's whose very jobs may be impacted... thus you can't achieve the true purpose of strategy which includes not going after viable opportunities but also killing existingobsolete and or non competitive options

Abraham Lincoln famously stated: "Give me six hours to chop down a tree, and I'll spend the first four sharpening the axe." He was on to something - it's absolutely critical to understand the status quo and the underlying challenges first in order to structure a strategic approach. Plenty of tools and methods exist to do this, and these are helpful each in their own right, but what I've seen that underpins everything is simply asking the right questions to a diverse set of stakeholders. People across the business jointly serve as the source of truth and hold the key that unlocks the most impactful way forward.

Strategy should start with ‘purpose’ - what is your enduring reason for existing? Then think about your organisation’s strengths - what truly differentiates you versus your competitors? For this, look at your capabilities (I.e. the collections of processes, skills, knowledge, behaviours, and organisational structures that allow you to deliver specific outcomes), and think about what you do better than anyone else. When you understand this basic frame of why you’re there and what you’re truly good at, you can start to make informed choices - whether that is about resource allocation (particularly if cost is a problem), or to confront/navigate a specific set of challenges. The goal should always be to play to - and focus on - your strengths.

The timing of decisions is often overlooked when making strategic choices. Take Kodak, for example. A leader in the film and camera industry and had the chance to be at the forefront of the shift to digital photography. Even after creating one of the first digital cameras in the 1970s, it hesitated to embrace digital tech. They were heavily invested in film-based products and were slow to adapt to changes. So, when we're making decisions for our business, it's important to scrutinize the current situation, considering its industry and the economy. Now, on the surface analyzing a situation is quite a broad term for one to find a starting point, to aid this there are a few frameworks that provide a clear path like (SWOT, PESTLE, BCG Matrix)

Analyzing current situation is a must before putting any strategy. A lot of insight can be generated using company's data of last couple of years on various parameters. A detailed discussion with your clients, distributors and some of the key stakeholders can actually help you with the insights on the pain areas, future directions, competition offerings etc and that could be a good ground to see whether the current system is equipped to cater to future....this will become a slate for you to draw the gaps and missing links which will along with other data points help you with putting the strategy.

Great strategic ideas: - are backed by research/data - have measurable value (top line, margin, capital efficiency, etc.) - clearly stand out on a value vs. speed of execution scale - can be rolled out in phases with limited upfront capital commitment, with clearly defined decision gates - are synergistic with current capabilities of the company

IDEO's "How Might We" approach has been highly effective in my experience for ideation and creative problem-solving. For a new healthcare website, we framed the opportunity as "How might we leverage AI to auto-transfer healthcare worker’s heavy paperwork?". This established an optimistic starting point, balancing broad solutioning with a narrow enough gap to get the innovation fuels flowing. Well-defined "How Might We" questions unlocks curiosity, shifts mindsets positively, and inspires 'what if' thinking. Ultimately, the power lies in framing the right focus area while striving for creative progress.

A good strategy should change the company somehow. It should stretch it taking it from where it is today to where it will be tomorrow. There are always opportunities for new ideas when this is the case. If you spot an area which does not align with the stated objective of the new strategy then get to work on new ideas that could happen instead of the broken status quo. If you can demonstrate how the new ideas are a better fit for the strategy then you should have no trouble getting them to land.

Ideas are a dime a dozen with the advent of Generative AI technology. But strategic ideas are more value. They represent a nuanced understanding of the environment and context that AI cannot replicate.

I have seen ideas being considered by senior leadership if: - they have a well thought hypothesis - they have an high level implantation plan with milestones, timeline and budget - they have been validated with peers and cross functional stakeholders - they have a well defined potential ROI. Craft your idea proposal in one pager with those key elements and you idea will certainly be considered.

In the age of information overload, simplicity in communication is a superpower. Breaking down complex strategies into bite-sized, digestible pieces ensures that the team can grasp and act upon the vision. The essence of effective communication lies not in grand speeches but in the ability to convey the most critical messages in a way that sticks, resonates, and propels everyone forward on the strategic journey.

Crafting business strategy models is a task for top-level management, underscoring the importance of clear communication. While strategy is formulated at the top, its success depends on effective implementation at the ground level. This emphasizes the crucial role of middle-level management. Guided by top management, the middle level ensures that information flows seamlessly down the hierarchy, preventing misunderstandings that could lead to unfavorable outcomes in the future. For important matters, choose face-to-face communication. In my experience, plans through emails/messages have lower success. Direct interaction conveys strategy nuances better, embracing collaboration.

There is a hierarchy within strategy, and you must start at the top to work your way toward an effective strategy. While it may vary by industry, typically it starts with 1) company mission and values 2) Company culture, brand identity 3) your BHAG- big hairy audacious goal. What is the strategy trying to achieve? 4) strategic priorities - the WHAT, not the HOW 5) strategic roadmap, projects, investments, Financials 6) responsibilities, assignments, governance

Communication should start from the time of ideation itself. We have to ensure involvement of key stakeholders to participate in the process and give their ideas and opinions. After the strategy is signed off, then these stakeholders should involve their team members and start taking actions accordingly. Motivate people as they keep achieving each milestone. The chances of the strategy working are much more than otherwise. Periodic review of the milestone achievement will always help as well.

It just sickens me to continue contributing to this initial trash! Why don't you stop generating these initial "community articles" that are nothing more than junk content collected by some ChatGPT-like algorithm from the Internet?

A strategy is not complete after it's drafted. Next, you need to measure it. What gets measured gets done. When you don't have the capability or bandwidth to measure progress, an item is not seen as a priority.

Could not agree more! Game changer. Cannot manage what is not measured. Metrics drive the effort as outcomes and goals become more achievable.

Measurement is the most important part of your strategy - if you cannot evaluate success and adjust the strategy based on that, you are not moving quickly enough. Results are everything.

Balance scorecard is a good tool to implement strategy at every level of the organisation and it's a comprehensive tool to measure and improve the performance. All views are taken care of in the balance scorecard: learning and development --> internal business process--> customer --> financial. The BSC is a management system that translates an organization's strategic goals into a set of performance objectives. These objectives are then measured, monitored, and changed if necessary to ensure that the organization's strategic goals are met.

Establish the limits of your knowledge: To learn, you need to know the limits of your knowledge and seek information in that area. For example, if you have no understanding of economics, you can find books that would improve your knowledge of it. You can create a reading list for the areas you feel your knowledge is lacking and then work to seal those gaps. As you do this consistently, you will see noticeable improvements. Then you can take what you have learnt and apply it to the company's strategy. The company's strategy will only improve if those contributing to it improve themselves.

The crucial step in making things happen is control and evaluation. The business world today is changing before you blink an eye, literally. Your strategy needs constant assessment and positive critique because there's no universal approach that fits everyone in today's business landscape. Regular adjustments are necessary after continuous learning. Stay vigilant about your competitors, industry trends, and the overall economy to anticipate and adapt to future changes effectively.

By championing a culture of continuous learning, I will proactively explore emerging industry trends, distilling insights to inform our strategy development, ensuring that our approach remains dynamic and ahead of the curve. Facilitating cross-functional knowledge exchange sessions, I aim to harness the collective intelligence within the organization, fostering a learning ecosystem where diverse perspectives contribute to the evolution and refinement of our strategic roadmap. Invested in personal growth, I will leverage executive education programs to acquire new skills and perspectives, acting as a catalyst for innovation within the company's strategy, creating a learning-driven environment that propels our long-term success.

Aceite responsabilidades e projetos que expandam seus horizontes e lhe permitam desenvolver novas habilidades. Aprimore suas habilidades e conhecimentos participando de programas de treinamento e workshops relevantes para a estratégia empresarial. Busque o apoio de um mentor ou coach experiente para obter orientação e feedback sobre seu desenvolvimento profissional.

Most Corporate and Business Strategies are designed to last for a period of 3-5 years. However, depending on the industry, a substantial part of the assumptions made during strategy formulation is going to be obsolete by the end of Year 1. If you are not integrated into the critical aspects of strategy execution, or not continuously seeking out useful information that could enable or derail it, then you would be caught by surprise a lot - and that's simply not good enough.

In many firms, the way to make change happen is “show me, don’t tell me.” Not at the expense of violating company policy of course, but in general, whether you are in professional services or tech or another sector, a great idea that is well implemented will be tried and copied by others and this is the best way to have an impact (versus “pitching” new strategies or ideas by PowerPoint).

“Its not about creating a nice strategy!! It’s about building a SUSTAINABLE COMPETITIVE ADVANTAGE” that’s the goal. Once u focus on SCA your entire action, data points, analysis , forecast changes. Simple steps really but a difficult process. 1. How are u or your products better ? (Advantage) 2. What gives u an advantage over competition ? (Competitive advantage) 3. Is that sustainable over a period of time ? ( sustainable competitive advantage) Example American brand aimed at high networth clients ; making it an aspiration Product : positioning the company as a cutting edge tech company ; and having great manufacturing plants in China : with sales across the world. With solid Intellectual property in place. APPLE.

Strategy is about being smart, not trendy. It's having a clear plan for the future but being flexible if needed. This is crucial for building a strong brand. Great brand leaders are like architects, creating a lasting brand, not just following trends. Good strategy goes beyond plans; it shapes how people in a company work together. A clear brand strategy acts like a compass, guiding everyone toward the same goal, from marketing to sales to interns. Imagine everyone working together seamlessly, singing from the same brand songbook. This creates a strong, united culture where everyone feels part of something bigger.

From a leadership perspective, I will say the leader should be able to make the team understand & believe in his/her vision. People follow the vision and starts conversations, giving feedback, adding more ideas etc. to support ( or sometimes to criticize) the vision. Leaders can develop framework for their vision from these interactions and brainstorming sessions which will become the building base of their strategy. Then through focused and specific follow up sessions, research, feasibility study etc. ,they can develop it into a strategy.

The common belief is to dive deep into data, but the unexpected key to contributing to a company's strategy development is stepping back. Observe from a distance, question assumptions, and offer a fresh perspective. Sometimes, clarity emerges when you're not buried in the details.