What is Your Current Strategy?
- We set a clear goal and plans, which do not change frequently. We execute to achieve them.
- We strive to realize an imagined end state, and we react flexibly to obstacles that we encounter along the way.
- We identify opportunities to reduce costs and preserve capital, guided by detailed plans, so that we can eventually identify a new path to growth.
- We constantly scan the environment for any signs of change, which we often use to guide a portfolio of experiments to mobilize our resources around successful ones.
- We actively engage other stakeholders (including customers, vendors, partners) in our company, create a shared long-term vision, and build platforms to enable collaboration.
How is Your Business Environment Perceived?
- Our industry or company has been affected by an internal or external shock, and is becoming misaligned with a shifting business environment.
- Our industry is being disrupted by a new innovative player.
- Our industry is marked with a high degree of dynamic and unpredictability, driven by constant changing consumer demand, technologies or competitive structure.
- Our industry has a stable, predictable pattern of demand and competitive structure.
- Our industry is constantly shaped by the coalition of players acting in coordination.
What is Your Intended Business Strategy?
- Our company continuously renews our competitive edge, leverage our agility and flexibility.
- We build sustainable competitive advantage through superior scale or capabilities
- We succeed by identifying and realizing new possibilities, leveraging our imagination, speed and consistency.
- We succeed by building and maintaining platforms to orchestrate the activities of other companies and stockholders.
- We focus on ensuring short-term viability as a preclude to reigniting growth by realigning our strategy.
After reviewing the above strategy checklist, you would want to review the following three questions:
- Are your current strategizing practices in line with our intended approach to strategy?
- Does our intended approach to strategy match our perceived environment?
- What are the reasons for any mismatch, and how could we address them
If you found this article helpful, then please follow me on Twitter and LinkedIn. Daily post will be up on weekly basis. Thank you!
To Read My Other Latest Post
Design of Price and Advertising Elasticity Models
What is Brand Value Chain Model?
How to Develop Promotional Marketing Strategy – Step by Step
4 Don’ts and 4 Do’s in #hashtag Campaigns
Building a Basic Twitter Marketing Scheduling System (Excel Form)