How will we get there?
William Rothschild once wrote, “What do you want to achieve or avoid? The answers to this question are objectives. How will you go about achieving your desired results? The answer to this you can call strategy.”
A true strategist is so because of foresight, not insight. Therefore, strategy is all about analysis. Most companies fail to measure their progress. A performance metric will quickly help to identify the voids, signal new trends and alert the strategist. When the same tool is applied to the world around us or the business we’re in, a strategy soon develops. Understanding the key elements of behavior and/or change associated with the individual, business, industry or the economy in general helps to define strategy.
It’s important to remember that strategy is not stagnant. Properly designed, a good strategy allows for change based on applied circumstances. This does not mean that strategy is to be determined by sudden flashes of brilliance, no it means that strategy must move with the issues associated with the economics of business, shifts in customer/client values, resources, government regulations, technology or other analyzed metrics.
A well run company and its associated infrastructure will reinforce its market strategy.