Strategy is currently a big buzz-word. Businesses and leaders are talking about it and numerous blogs are written on the topic every day. Feeling left out? Here’s how you can be strategic too. Writing in HBR, Liane Davey breaks down the meaning of being ‘strategic’. Here is my interpretation.
- Undertaking decisions in context of the organization’s broader goals: While this might be as complicated as launching a new product to a simpler one like researching a specific market, ask why the decision matters and what does it achieve in the long term.
- Discussing complex scenarios with experts: As much as the internet has empowered us, there is no substitute for an expert opinion. Speak with people that have worked on the areas you are looking for an answer.
- Making decisions based on reflections rather than reflex: Our natural reaction is to base decisions based on precedents- a reflexive action. But markets may have changed since then, and you might need to make a different decision.
- Connecting ideas to people: We tend to stick with our own team, but some ideas are best delegated to other business units or teams that have better bandwidth and more visibility.
- Making real choices: All projects are not created equal. Decide which ones are worth doing, and which ones need to be refused. You get more credibility by refusing the unworthy.
We have tools to empower you to be more strategic. CEB Market Insights members can use Johnson & Johnson’s Uncertainties Focused Business Planning Framework and Lilly’s IWIK-focused Research Scoping Process to uncover true business need. Assess and choose projects using Deere’s Research Request Evaluation Process.