Strategy is an oft misinterpreted term. It can be used to justify actions or inaction. It can be seen as far seeking and visionary (not necessarily always the case).
Strategy involves creation of a plan of action or policies designed to achieve a major or overall aim. The key attribute is that the strategy reflect “major” goals. Strategies typically don’t extend to routine or low impact actions. These are typically defined as tactics.
A series of tactical actions often underpin the strategic plan. An example of this is:
- the strategy is to grow sales revenue every year by 10%
- planned actions include improved customer service, broader product line, more advertising
- tactics underlying the strategic plan include specific actions to improve customer service including measures, new product development and so on
Developing the Strategy
Developing the strategic plan can be a difficult exercise. The more collaborators the harder it is, although more participant could also lead to better plan with more buy in.
It is important to start with the major or top level goals. The strategic activities and the tactical plans all stem from these. The time frames associated with achievement of these goals is critical to define as well.
Another tip during strategic planning is to focus on measurable actions and outcomes. Intangible things are quite subjective and much harder to obtain consensus on.
Additionally, keep the focus on high level overridding plans and time frames first before moving to the tactical level.
And finally , use strategies wherever they fit. The whole organization or just personal goals. The value is clarity in what you are striving for and definition of the optiminal way to achieve it.
