Strategy – What is it ?
We often talk a lot about strategy, but can we really define what a strategy is ? If we go by standard book definition, then it is defined as – “A set of planned activities over a course or duration of time to achieve certain defined goals”. If we try and split this definition into smaller parts, then we get some more clarity about Strategy.
Set of planned activities – This means that we first list out all the actionable items or activities and then create a schedule for them. We create an execution plan for them. This plan can consist of order in which the activities needs to be performed. there might be dependencies between the activities which affects the execution plan.
Over duration of time – The set of activities which we planned needs to be accomplished in a defined limit of time. This is necessary because we need to measure the progress of actual against planned. With clearly defined timelines efforts can be laid in synchronised manner to complete those activities. There could be milestones at regular interval in the complete timeline which could act as indicators about direction and progress of plan.
Defined goals – Goals are the desired results which we plan to get at end of execution of planned activities timeline. Goals are the driving force for these activities. We set goals for certain accomplishments or achievements which paves way for our future growth. To achieve goals, we have targets which can be milestones which we set over the timeline. As you achieve each target you come closer towards achieving the goal and finally make it too.
So, in theoretical aspect I think what I mentioned above gives an idea about strategy and what it is composed of ? however if we try to understand it in simple way or possibly in a way that it can impact our thoughts process then the above description quite complex.
For this I would like to share one very interesting and probably simplistic definition of strategy which I got to learn from an intellectual session. I do not recall the presenter name but for surely this credit goes to him. He says – “Strategy is putting right person at right place”. If you place right person to accomplish the desired set of activities and together all of them operate in synchronised manner, then you achieve your goals, and this is what constitutes a successful strategy.
If you do not have people in place who can work in a synchronous manner, then there is no point in putting a strategy for its execution. Such an exercise will be useless and will not lead you towards your goal. It is tough to find right people but it’s tougher to identify the place or opportunity where you can utilise the skills of them for achieving goals.
In my opinion I find this definition more clear, simpler and holding much relevance. It holds the essence that there is strong need to understand the capabilities of individual and then thriving them to achieve common goals and objectives.
It’s nicely explained.
Such a clean, concise and comprehensive article, worth reading it .
Thanks for shaing